Prepare an Income Statement for the Year Ended December 31,2012

question 63

Essay

Prepare an income statement for the year ended December 31,2012 from the adjusted trial balance below.
Deavours Photography
Adjusted Trial Balance
December 31,2012
$\begin{array}{|l|r|r|}\hline\text { Accounts } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 2,000 & \\\hline \text { Prepaid insurance } & 2,000 & \\\hline \text { Office supplies } & 600& \\\hline \text { Office equipment } & 16,000 \\\hline \text { Accumulated depreciation } & & \$ 3,000 \\\hline \text { Accounts payable } & & 5,000 \\\hline \text { Salaries payable } & & 900 \\\hline \text { Unearned servicerevenue } & & 2,500 \\\hline \text { C. Devours, capital } & & 7,450 \\\hline \text { C. Devours, drawing } & 5,600 & \\\hline \text { Service revenue } & & 15,350 \\\hline \text { Salaries expense } & 4,600 & \\\hline \text { Depreciation expense } & 1,000 & \\\hline \text { Supplies expense } & 400 & \\\hline \text { Insurance expense } & 2,000 & \\\hline \text { Totals } & \$ 34,200 & \$ 34,200\\\hline\end{array}$

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Definitions:

Employee Aptitudes

The natural talents or ability of workers to perform specific tasks or learn new skills.

Paper Mill

A company or platform that produces academic essays or research papers for a fee, often resulting in plagiarism.

Job Performance

Refers to the degree to which an employee successfully fulfills the roles, obligations, and expectations of their position.

Situational Factors

refer to external conditions or circumstances that can influence individual behavior and decision-making processes.