Question

h e wconnectmeducation.com/flow/connect.metumurch Chec .connect medication.com Quiz A webride Help Saw Required information The following information applies to the questions displayed below Carmen Camry operates a consulting firm called Help Today, which began operations on August Lon August 3, the company's records show the following accounts and amounts for the month of August $ 27,068 9,610 5.650 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends $25,410 Consulting fees earned 22,420 Rent expense 5.320 Salaries expense 44,050 Telephone expense 20.060 Miscellaneous expenses 10,510 Common stock 6,050 102,500 Use the above information to prepare an August income statement for the business HELP TODAY Income Statement < Prev 15 16 17 of 308 Next > -re to search

Answer 1

Kindly note that in the absence of proper information, it is assumed that all the office supplies are expenses.

HELP TODAY Particulars Amount ($) Amount ($) Revenue: Consulting fees earned 27,060 Total Revenue 27,060 LLLLLLLL 1 HAVE Operating Expenses: Rent Salaries Pffice supplies Telephone expenses Miscellaneous expenses Operating Income 9,610 5,650 5,320 940 NE Www 4 560 22,080 4,980 1 Non Operating Expenses: Dividends 6,050 lll Net Loss (1,070) M H L AVALIANA VILLE