Below Is the Adjusted Trial Balance for Parsons Repair Service

Essay

Below is the adjusted trial balance for Parsons Repair Service.Please prepare the income statement for the year ended December 31,2012.
Parsons Repair Service
Adjusted Trial Balance
December 31,2012
$\begin{array}{|l|r|r|}\hline\text { Accounts } & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 1,600 &\\\hline \text { Accounts receivable } & 2,400 \\\hline \text { Prepaid rent } & 800 \\\hline \text { Supplies } & 200 \\\hline \text { Building } & 14,000\\\hline \text { Accumulated depreciation } & & \$ 2,000 \\\hline \text { Accounts payable } & & 4,200 \\\text { Salary payable } & & 1,000 \\\hline \text { Unearned revenue } & & 800 \\\hline \text { D. Parsons, capital } & & 6,000 \\\hline \text { D. Parsons, drawing } & 1,000 \\\hline \text { Service revenue } &&50,000 \\\hline \text { Salary expense } & 21,000 \\\hline\text { Rent expense } & 14,000 \\\hline \text { Depreciation expense } & 8,500 \\\hline \text { Supplies expense } & 500 \\\hline \text { Total } & \$ 64,000& \$ 64,000\\\hline\end{array}$