Based on the Following Adjusted Trial Balance, Prepare an Income $\quad$

question 58

Essay

Based on the following adjusted trial balance, prepare an income statement for Summers Company for the year ended December 31, 2019. $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Summers Company}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Adjusted Trial Balance}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {December 31, 2019}$
$\begin{array}{lrr} & \text { Debit } & \text { Credit } \\\text { Cash } & \$ 10,500 & \\\text { Accounts receivable } & 20,000 & \\\text { Supplies } & 2,700 & \\\text { Office fumiture } & 10,000 & \\\text { Accum. amort. -office furniture } & & \$ 4,350 \\\text { Salary payable } & & 760 \\\text { Unearned service revenue } & & 1,140 \\\text { Jody Summers, Capital } & & 12,550 \\\text { Jody Summers, Withdrawals } & 2,800 & \\\text { Service revenue } & & 40,060 \\\text { Salary expense } & 8,360 & \\\text { Rent expense } & 2,850 & \\\text { Amort expense-office furn. } & 350 & \\\text { Supplies expense } & \underline{1,300} &\underline{\quad\quad} \\ \text { Total } & \$ 58,860 & \$ 58,860\end{array}$

---

Definitions:

Anxiety Problems

Mental health issues characterized by excessive worry, fear, or anxiety that interfere with daily activities and personal well-being.

Effect Sizes

Statistical measures that quantify the magnitude of a phenomenon, allowing for comparison across different studies or interventions.

Implosive Therapy

A therapeutic technique that involves exposing the patient to their fears in a controlled environment, with the aim of reducing the fear response over time.

Pseudoscientific Concepts

Ideas or theories that claim to be based on scientific principles but lack empirical evidence or are not consistent with the scientific method.