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S now my income is 0! Des it happen that way?
2628

Please Ignore!

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The information given as below:

Question NA

Am I making correct entries to the Income statement?
2625

Thank you CaptainForest.
8 & 9 come from the columns of 1.extraordniary loss 2.Loss due to change in a/c ing principle.(Provided in the excel sheet columns above)
Shouldn't I be doing this?

For...

2607
1.Physical count of inventory on Dec31,2006 indicated that the company had 480000$ of inventory on hand.
2.An aging of accounts receivable indicates that $75,000 is uncollectible
3.The...

Thank you for the prompt response :-)

I attempted to do this problem & I am not sure whether it is correct or not.Please help.
Question is as follows.

Balance Sheet as of dec 31 2002
Assets
Cash 24$
A/c Rec. 15
Supplies 6
Prep....