Homework Answers
Working note:-
Net Income= All Revenue - All Expenses
= Fee earned - (Telephone expenses + Rent expenses+ wages expenses + Utilities expenses + Office expenses)
= $15700 -$(1150 +1400 +4800+750+420)
=$15700 -$8520 =$7180
BRIGHT FUTURES COMPANY
Statement of stockholder's equity
For month ended August 31
| Common stock | Retained Earning | Total | |
| [email protected] | $10000 | $4320 | $14320 |
| Net Income | $7180 | $7180 | |
| Dividends | -$800 | -$800 | |
| [email protected] | $10000 | $10700 | $20700 |
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