Dairy Services was organized on August 1, 2019. A summary of the revenue and expense transactions for March follows:
Income Statement
Dairy Services was organized on August 1, 2019. A summary of the revenue and expense transactions for March follows:
| Fees earned | $341,400 |
| Wages expense | 174,100 |
| Rent expense | 33,800 |
| Supplies expense | 10,600 |
| Misellaneous expense | 11,300 |
Prepare an income statement for the month ended August 31.
Homework Answers
| Fees earned | $ 341,400 | |
| Expenses: | ||
| Wages expense | $ 174,100 | |
| Rent expense | $ 33,800 | |
| Supplies expense | $ 10,600 | |
| Miscellaneous expense | $ 11,300 | |
| Total expenses | $ 229,800 | |
| Net income | $ 111,600 |
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Dairy Services was organized on August 1, 2019. A summary of the revenue and expense transactions for March follows:
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