Acc300 Principles of Accounting: M4-12 The Sky Blue Corporation has the following adjusted

Acc300 Principles of Accounting M4-12 Reporting an Income Statement The Sky Blue Corporation has the following adjusted trial balance at December 31, 2009. Debit Credit Cash 1,230 Accounts Receivable 2,000 Prepaid Insurance 2,300 Notes Receivable 3,000 Equipment 12,000 Accumulated Depreciation 2,600 Accounts Payable 1,600 Accrued Liabilities Payable 3,820 Wages Payable 1,000 Income Taxes Payable 2,900 Unearned Rent Revenue 600 Contributed Capital 2,400 Retained Earnings 1,000 Dividends Declared 300 Sales Revenue 42,030 Rent Revenue 300 Wages Expense 21,600 Depreciation Expense 1,300 Utilities Expense 1,220 Insurance Expense 1,400 Rent Expense 9,000 Income Tax Expense 2,900 Total $58,250 $58,250
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