Acc225 Fundamental Accounting Principles: E1-13 On October 1, Sasha Shandi organized Best Answers

Acc225 Fundamental Accounting Principles
Exercise 1-13 Preparing an income statement
On October 1, Sasha Shandi organized Best Answers a new consulting firm. On October 31, the company’s records show the following items and amounts.
Cash 2,000
Accounts receivable 13,000
Office supplies 4,250
Land 36,000
Office equipment 28,000
Accounts payable 7,500
Owner investments 74,000
Cash withdrawals by owner 3,360
Consulting fees earned 15,000
Rent expense 2,550
Salaries expense 6,000
Telephone expense 660
Miscellaneous expenses 680

Use this information to prepare an October income statement for the business.
Powered by