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During January 2015, the first month of operations, a consulting firm had following transactions: 1. Issued common stock to owners in exchange for $44,000 cash.
During January 2015, the first month of operations, a consulting firm had following transactions: |
1. | Issued common stock to owners in exchange for $44,000 cash. |
2. | Purchased $11,000 of equipment, paying $2,200 cash and signing a promissory note for $8,800. |
3. | Received $19,800 in cash for consulting services performed in January. |
4. | Purchased $3,300 of supplies on account; all of the supplies were used in January. |
5. | Provided consulting services on account in the amount of $35,200. |
6. | Paid $1,650 on account. |
7. | Paid $6,600 to employees for work performed during January. |
8. | Received a bill for utilities for January of $7,500; the bill remains unpaid |
What is subtotal of expenses that will be reported on the income statement for the month ended January 31?
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