On October 1, Diondre Shabazz organized a new consulting firm called Tech Talk. On October 31, the company’s records show the following accounts and amounts. Use this information to prepare an October income statement for the business.
Cash . . . . . . . . . . . . . . . . . . . . $ 12,614 D. Shabazz,Withdrawals . . . . . . . $ 2,000
Accounts receivable . . . . . . . . . 25,648 Consulting fees earned . . . . . . . . 25,620
Office supplies . . . . . . . . . . . . . 4,903 Rent expense . . . . . . . . . . . . . . 6,859
Land . . . . . . . . . . . . . . . . . . . . . 69,388 Salaries expense . . . . . . . . . . . . 12,405
Office equipment . . . . . . . . . . . 27,147 Telephone expense . . . . . . . . . . 560
Accounts payable . . . . . . . . . . . 12,070 Miscellaneous expenses . . . . . . . 280
D. Shabazz, Capital . . . . . . . . . . . 124,114
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