The income statement of Oriole Company for the month of July shows net income of $3,490 based on Service Revenue $7,630, Salaries and Wages Expense $2,370, Supplies Expense $980, and Utilities Expense $790. In reviewing the statement, you discover the following:.
1. Insurance expired during July of $550 was omitted.
2. Supplies expense includes $410 of supplies that are still on hand at July 31.
3. Depreciation on equipment of $290 was omitted.
4. Accrued but unpaid wages at July 31 of $440 were not included.
5. Service performed but unrecorded totaled $740. Prepare a correct income statement for July 2022.
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The income statement of Oriole Company for the month of July shows net income of $3,490 based on Ser...
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