The income statement of Benning Co. for the month of July shows net income of $1,400 based on...

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The income statement of Benning Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Wages Expense $2,300, Supplies Expense
 $1,200, and Utilities Expense $600. In reviewing the statement, you discover the following. 1.Insurance expired during July of $400 was omitted. 2.Supplies expense
 includes $200 of supplies that are still on hand at July 31. 3.Depreciation on equipment of $150 was omitted. 4.Accrued but unpaid wages at July 31 of $300 were
 not included. 5.Services provided but unrecorded totaled $500. Instructions Complete the correct income statement for July XXXXXXXXXXList amounts from largest to
 smallest eg 10, 5, 3, 2.) Benning Co. Income Statement For the Month Ended July 31, 2010 Revenues Service RevenuePrepaid InsuranceSuppliesEquipmentUtilities
 ExpenseUnearned RevenueAccumulated DepreciationWages ExpenseAccrued RevenueWages PayableSupplies ExpenseInsurance ExpenseDepreciation Expense $ Expenses
 EquipmentPrepaid InsuranceService RevenueUnearned RevenueAccumulated DepreciationSuppliesDepreciation ExpenseWages PayableInsurance ExpenseWages ExpenseAccrued
 RevenueSupplies ExpenseUtilities Expense $ Prepaid InsuranceInsurance ExpenseAccrued RevenueAccumulated DepreciationEquipmentWages PayableSupplies ExpenseUtilities
 ExpenseService RevenueWages ExpenseDepreciation ExpenseSuppliesUnearned Revenue Insurance ExpenseUtilities ExpenseUnearned RevenueDepreciation ExpenseWages
 ExpenseSupplies ExpenseService RevenueAccrued RevenuePrepaid InsuranceWages PayableSuppliesAccumulated DepreciationEquipment Wages ExpensePrepaid
 InsuranceDepreciation ExpenseUnearned RevenueSuppliesAccrued RevenueAccumulated DepreciationUtilities ExpenseWages PayableEquipmentInsurance ExpenseSupplies
 ExpenseService Revenue Utilities ExpenseInsurance ExpenseService RevenueAccumulated DepreciationWages PayableSupplies ExpensePrepaid InsuranceSuppliesUnearned
 RevenueAccrued RevenueWages ExpenseEquipmentDepreciation Expense Total Expenses Net income $

David · Accepted Answer

The income statement of Benning Co
SOLUTION:
BENNING CO.
Income Statement
For the Month Ended July 31, 2010
Revenues
Service revenue ($5,500 + $500)
$6,000
Expenses
Wages expense ($2,300 + $300)
$2,600
Supplies expense ($1,200 – $200)
   1,

The income statement of Benning Co. for the month of July shows net income of $1,400 based on Service Revenue $5,500, Wages Expense $2,300, Supplies Expense $1,200, and Utilities Expense $600. In...

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