Presented below is Natalie’s tentative adjusted trial balance from her worksheet dated January 31, 2023: COOKIE CREATIONSAdjusted Trial BalanceDecember 31, 2023 Account Debit Credit Cash $2,696 Accounts Receivable 575 Inventory 2,053 Supplies 403 Prepaid Insurance 1,265 Equipment 1,380 Accumulated Depreciation—Equipment $71 Accounts Payable 345 Notes Payable 2,300 Owner’s Capital 3,828 Owner’s Drawings 863 Sales Revenue 6,613 Cost of Goods Sold 3,421 Depreciation Expense 23 Insurance Expense 127 Salaries and Wages Expense 184 Utilities Expense 81 Freight-Out 86 $13,157 $13,157 Prepare a multiple-step income statement.Include Service Revenue in “Other Revenue and Gains”. COOKIE CREATIONSIncome Statement For the Year Ended January 31, 2023For the Month Ended January 31, 2023January 31, 2023 $ DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues $ DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues $

Presented below is Natalie’s tentative adjusted trial balance from her worksheet dated January 31, 2023: COOKIE CREATIONS Adjusted Trial Balance December 31, 2023 Account Debit Credit Cash $2,696...

Presented below is Natalie’s tentative adjusted trial balance from her worksheet dated January 31, 2023:

COOKIE CREATIONS Adjusted Trial Balance December 31, 2023
Account	Debit	Credit
Cash	$2,696
Accounts Receivable	575
Inventory	2,053
Supplies	403
Prepaid Insurance	1,265
Equipment	1,380
Accumulated Depreciation—Equipment		$71
Accounts Payable		345
Notes Payable		2,300
Owner’s Capital		3,828
Owner’s Drawings	863
Sales Revenue		6,613
Cost of Goods Sold	3,421
Depreciation Expense	23
Insurance Expense	127
Salaries and Wages Expense	184
Utilities Expense	81
Freight-Out	86
	$13,157	$13,157

Prepare a multiple-step income statement.Include Service Revenue in “Other Revenue and Gains”.

COOKIE CREATIONS Income Statement For the Year Ended January 31, 2023For the Month Ended January 31, 2023January 31, 2023
		$

DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues
DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues
	$




DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues
DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues
DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues

DrawingsExpensesGross Profit / (Loss)Income Before Income TaxesIncome From OperationsNet Income / (Loss)Net SalesOperating ExpensesOther ExpensesOther Revenues and GainsOwner's Capital, January 1Owner's Capital, January 31Sales RevenueTotal ExpensesTotal Operating ExpensesTotal Revenues		$

Jun 02, 2022

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Presented below is Natalie’s tentative adjusted trial balance from her worksheet dated January 31, 2023: COOKIE CREATIONS Adjusted Trial Balance December 31, 2023 Account Debit Credit Cash $2,696...

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