Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts. Cash =$25,460. Land=$44,130; Acct payable =$22,510; Supplies =$5,380; Equipment =$20,160 Acct payable =$10,370 Dividends =$ 6130 Consulting fees earned =$27,130 Rent expense =$9690 Salaries expense =$5710 Telephone expense =$1010 Miscellaneous expense =$ 620 Common stock =$103,300 Use the above information to prepare an August Income statement for the business
Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts. Cash =$25,460. Land=$44,130; Acct payable =$22,510; Supplies =$5,380; Equipment =$20,160 Acct payable =$10,370 Dividends =$ 6130 Consulting fees earned =$27,130 Rent expense =$9690 Salaries expense =$5710 Telephone expense =$1010 Miscellaneous expense =$ 620 Common stock =$103,300 Use the above information to prepare an August Income statement for the business
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
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Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts.
Cash =$25,460. Land=$44,130;
Acct payable =$22,510;
Supplies =$5,380;
Equipment =$20,160
Acct payable =$10,370
Dividends =$ 6130
Consulting fees earned =$27,130
Rent expense =$9690
Salaries expense =$5710
Telephone expense =$1010
Miscellaneous expense =$ 620
Common stock =$103,300
Use the above information to prepare an August Income statement for the business
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