Score:
10/10 Points
100 %
[The following information applies to the questions displayed below.]
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the
company’s records show the following selected accounts and amounts for the month of August.
Cash $ 25,430
Dividends
$ 6,080
Accounts receivable
22,450
Consulting fees earned 27,080
Office supplies 5,340 Rent expense
9,640
Land
44,080
Salaries expense
5,680
Office equipment
20,100 Telephone expense
970
Accounts payable 10,480 Miscellaneous expenses
590
Common stock 102,800
4. Award: 1.42 out of 1.42 points
Use the above information to prepare an August income statement for the business.
Use the above information to prepare an August income statement for the business.
HELP TODAY
Income Statement
For Month Ended August
31
!
Revenues:
!
Consulting fees earned
!
$ 27,080
!
Total Revenues $27,080
Expenses:
!
Rent expense
!
$ 9,640
!
Salaries expense
!
5,68
0
!
Telephone expense
!
970
!
Miscellaneous expenses
!
590
!
Total Expenses 16,880
Net income
!
$ 10,200
!
HELP TODAY
Income Statement
For Month Ended August 31
Revenues:
Consulting fees earned $
27,080
F Total Revenues F $
27,080
Expenses:
Rent expense $
9,640
Salaries expense 5,680
Telephone expense 970
Miscellaneous expenses 590
F Total Expenses F
16,880
Net income $
10,200
Explanation:
No further explanation details are available for this problem.
