The Following Is the Adjusted Trial Balance from the Worksheet

question 84

Essay

The following is the adjusted trial balance from the worksheet for Tuttle Photography.
Tuttle Photography
Worksheet
For the Year Ended December 31,2013
$\begin{array}{|l|r|c|}\hline\text { Account } &{\text { Debit }} &\text { Credit }\\\hline \text { Cash } & \$ 15,000 \\\hline \text { Accounts receivable } & 30,000 \\\hline \text { Prepaid insurance } & 7,500 \\\hline \text { Office supplies } & 3,200 \\\hline \text { Land } & 40,000 \\\hline \text { Building } & 160,000 \\\hline \text { Accumulated depreciation } & & \$ 12,000 \\\hline \text { Equipment } & 75,000 &\\\hline \text { Accumulated depreciation } & & 8,500 \\\hline \text { Accounts payable } & & 12,000 \\\hline \text { Salaries payable } & & 2,000 \\\hline \text { Unearned service revenue } & & 25,000 \\\hline \text { Mortgage payable } & & 100,000 \\\hline \text { R. Tuttle, capital } & & 21,290 \\\hline \text { R. Tuttle, drawing } & 23,000 \\\hline \text { Service revenue } & \\\hline \text { Salaries expense } & 61,000 \\\hline \text { Depreciation expense } & 6,150 \\\hline \text { Supplies expense } & 14,040 \\\text { Innsurance expense } & 14,000 \\\hline \text { Utilities expense } & 20,900 \\\hline & \$ 469,790 & \$ 469,790 \\\hline\end{array}$ Using the information provided in the worksheet above,prepare an income statement for Tuttle Photography.

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Definitions:

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Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes, often leading to quick but sometimes inaccurate conclusions.

Propositions

Statements or assertions that express a judgment or opinion.

Predicate

The part of a sentence or clause containing a verb that states something about the subject.