Preparing an income statement.
At the beginning of September, Alexander Parker started Parker Investment Services, a firm that offers advice about investing and managing money. On September 30, the accounting records of the business showed the following information. Prepare an income statement for the month of September 2010.
Cash | $32,100 | Fees Income | $72,800 |
Accounts Receivable | 3,000 | Advertising Expense | 5,500 |
Office Supplies | 2,400 | Salaries Expense | 15,000 |
Office Equipment | 36,500 | Telephone Expense | 700 |
Accounts Payable | 4,700 | Withdrawals | 8,000 |
Alexander Parker, Capital, |
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September 1, 2010 | 25,700 |
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