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Carmen Camry operates a consulting firm called Help Today. On August 31, the companys records show the following accounts and amounts for the month of
Carmen Camry operates a consulting firm called Help Today. On August 31, the companys records show the following accounts and amounts for the month of August. Use this information to prepare an August income statement for the business.
Cash | $ | 25,360 | C. Camry, Withdrawals | $ | 6,000 |
Accounts receivable | 22,360 | Consulting fees earned | 27,000 | ||
Office supplies | 5,250 | Rent expense | 9,550 | ||
Land | 44,000 | Salaries expense | 5,600 | ||
Office equipment | 20,000 | Telephone expense | 860 | ||
Accounts payable | 10,500 | Miscellaneous expense | 520 | ||
C. Camry, Capital, July 31 | 2,000 | Owner investment made on August 4 | 100,000
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