Business, 22.02.2021 20:10 erikamaldonado661

The income statement of Cheyenne Corp. for the month of July shows net income of $3,100 based on Service Revenue $6,700, Salaries and Wages Expense $2,000, Supplies Expense $1,100, and Utilities Expense $500. In reviewing the statement, you discover the following. 1. Insurance expired during July of $500 was omitted. 2. Supplies expense includes $250 of supplies that are still on hand at July 31. 3. Depreciation on equipment of $350 was omitted. 4. Accrued but unpaid salaries and wages at July 31 of $300 were not included. 5. Services performed but unrecorded totaled $700. Prepare a correct income statement for July 2019.

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The income statement of Cheyenne Corp. for the month of July shows net income of $3,100 based on Ser...

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