The income statement of Midland Company for the month of July shows
net income of $2 700 based, on Service Revenues $5 500,,, Salaries Expenses
$2 300 and,, Utilities Expense $500. In reviewing the statement you discover, the
following a) Insurance. Expired during July of $400 was omitted.
b) Supplies purchased equaled, $1 200 but the, supplies on-hand at the end of
July. Equaled $300.
.C) Depreciation on equipment of $150 was omitted.
D) Accrued but unpaid salaries at July 31 of $280 were not included.
E). Services performed but unrecorded totaled $920.
office materials used.
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