I am doing a computer project and I have gotten great answers when it came to the trial balance, really helped to see what I was doing wrong, now I have to make an income statement, retained earnings, and classfied balance sheet, I have tried to set up each of them, but only started on the figuring for the income statement and can't seem to get my figures to match. The match figure is Net Income: 52,934 and New Check figure for Trial Balance: 1,217,316. I can't see if I am leaving out an account or if I am calculating the imcome tax expense wrong. The income tax expense is based on 30% of income before taxes. So I multipied .30*income before taxes. Someone help! Anything would be great a good example, tell me what I am doing wrong.


Attached is what I have done.

I am doing a computer project and I have gotten great answers when it came to the trial balance, really helped to see what I was doing wrong, now i have to make an income statement, retained earnings, and classfied balance sheet, I have tried to set up each of them, but only started on the figuring for the income statement and can't seem to get my figures to match. The match figure is Net Income: 52,934 and New Check figure for Trial Balance: 1,217,316. I can't see if I am leaving out an account or if I am calculating the imcome tax expense wrong. The income tax expense is based on 30% of income before taxes. So I multipied .30*income before taxes. Someone help! anything would be great a good example, tell me what i am doing wrong.


Attached is what i have done.
OK your adding the last 5120 and you have to subtreacted other than that I can't see any error.. if isaw the whole problem I coild hgelp you but you only give numbers

I am doing a computer project and I have gotten great answers when it came to the trial balance, really helped to see what I was doing wrong, now i have to make an income statement, retained earnings, and classfied balance sheet, I have tried to set up each of them, but only started on the figuring for the income statement and can't seem to get my figures to match. The match figure is Net Income: 52,934 and New Check figure for Trial Balance: 1,217,316. I can't see if I am leaving out an account or if I am calculating the imcome tax expense wrong. The income tax expense is based on 30% of income before taxes. So I multipied .30*income before taxes. Someone help! anything would be great a good example, tell me what i am doing wrong.


Attached is what i have done.
I have made the necessary changes in your attacment.

OK she is asking for the income stament noit the adjusted balnce she knows that already

ok she is asking for the income stament noit the adjusted balnce she knows that already
OK student101 if you had read any of her previous posting you would know that she knows the balances for all the trial balances and the financial statements. And even in this post she is already saying the balance for the trial balance and the income statement.

No she is saying she needs the income stament which the figures she has are wrong her other post was already solve by herself