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6 Time to prepare an income statement for Company TAC, ...

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Accounting

6 Time to prepare an income statement for Company TAC,
this is for the Month Ending October 31, 2017
Cash $ 17,000
Salary Payable $ 3,100
Service Revenue $ 44,500
Salary expense $ 12,600
Rent Expense $ 3,600
Unearned Revenue $ 1,300
Utility Expense $ 1,700
Accounts Receivable $ 4,100
Supplies Expense $ 825
7 During class we completed problems in Chapter 5
involving accounts receivable transactions and customer
sub ledger accounts. Explain the purpoe of the
Account Receivable Schedule that we prepred for
both problems from Chapter 5.
8 The Lewis Company pays their employees every Friday.
The weekly salaries for a five day workweek is $22,250.
Assume that Sept 30th this month is a Wednesday.
Prepare the adjusting journal entry for salary expense on
Sept 30th (the employees will be paid on Friday Oct 2).

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