Question
ABC Services reported the following transactions for September, 2013. A) The owner opened the business with a capital contribution of $23,500 cash. It was credited
ABC Services reported the following transactions for September, 2013.
A) The owner opened the business with a capital contribution of $23,500 cash. It was credited to Capital.
B) The business purchased office equipment for $11,500. The business paid $2,500 down and put the balance on a note payable.
C) The business paid a utility bill for $980 cash.
D) The business paid $2,000 cash for September rent.
E) The business had sales of $15,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales.
F) The business paid $9,700 cash for office furniture.
What is the net income for September, 2013?
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Accounting And Auditing Standards For Islamic Financial Institutions
Authors: Mohd MaSum Billah
1st Edition
103206353X, 978-1032063539
