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At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money.
At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money. On September 30, the accounting records of the business showed the following information Cash Accounts Receivable Office Supplies Office Equipment Accounts Payable Selena Cantu, Capital, September 1, 2019 Fees Income Advertising Expense. Salaries Expense Telephone Expense Withdrawals $ 66,800 8,600 7,400 75,600 12,000 54,000 156,400 13,600 32,600 2,200 18,600 Prepare an income statement for the month of September 2019 CANTU WEALTH MANAGEMENT CONSULTING Income Statement Month Ended September 30, 2019 Revenue Expenses Total expenses 9 Required information At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,300; Prepaid Insurance, $600; Equipment, $37,200 and Cash, $41,150. On the same date, SloMo owed the following creditors: Simpson Supply Company, $13,000; Allen Office Equipment, $10,000. The total assets for the SloMo Delivery Service are: Multiple Choice $42,450 $43,050 $80,250 $78,350
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