On October 1, Keisha King organized Real Answers, a new consulting firm. On October 3
On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the company’s
Records show the following items and amounts. Use this information to prepare an October income
Statement for the business.
Check Net income, $4,540
Cash.. . $11,500 Cash dividends.. . $ 2,000
Accounts receivable.. . 12,000 Consulting fees earned.. . 14,000
Office supplies.. . 24,437 Rent expense.. . 2,520
Land.. . 46,000 Salaries expense.. . 5,600
Office equipment.. . 18,000 Telephone expense.. . 760
Accounts payable.. . 25,037 Miscellaneous expenses.. . 580
Common stock.. . 84,360