Bus3061 southwest business school __income statement

As you have learned, generally accepted accounting principles (GAAP) require organizations to prepare both an income statement and a balance sheet. Before the balance sheet can be prepared, the organization’s net income must be determined. This requires the accountant to pull together data from numerous system accounts and other sources of information. In this assignment, you will demonstrate your skill in putting together the necessary account data and preparing an income statement in good form.




For this assignment, use the BUS3061 Assignment u02a3 Template to prepare an income statement




Southwest Business School

Adjusted Trial Balance

December 31 20XX

Debit ($)Credit ($)


Accounts receivable7,500

Teaching supplies2,600

Prepaid insurance12,000

Prepaid rent0

Professional library30,000

Accumulated depreciation—Professional library15,000


Accumulated depreciation—Equipment28,000

Accounts payable36,000

Salaries payable400

Unearned training fees6,600

Common stock10,000

Retained earnings53,600


Tuition fees earned1,09,500

Training fees earned42,400

Depreciation expense—Professional library6,000

Depreciation expense—Equipment12,000

Salaries expense48,400

Insurance expense3,000

Rent expense24,000

Teaching supplies expense7,400

Advertising expense7,000

Utilities expense      5,600  _______

Totals            $3,01,500$3,01,500


Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

New Look, Same Us. Enjoy 10% OFF this October using the coupon code: nation10