The income statement of Norski Co. for the month of July shows net income of...
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Accounting
The income statement of Norski Co. for the month of July shows net income of $2,000 based on Service Revenue $5, 500, Salaries and Wages Expense $2, 100, Supplies Expense $900, and Utilities Expense $500. In reviewing the statement, you discover the following: Insurance expired during July of $350 was omitted. Supplies expense includes $200 of supplies that are still on hand at July 31. Depreciation on equipment of $150 was omitted. Accrued but unpaid wages at July 31 of $360 were not included. Service performed but unrecorded totaled $700. Prepare a correct income statement for July 2017
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