prepare an income statement

Feb Trial Balances

Raider Consulting Corp began operations on January 1, 2020. They issued 13,500 shares of $2 par value common stock. Chart of Accounts: 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 Office Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 31 Common Stock, $2 par 32 Paid in Capital in Excess of Par 33 Retained Earnings 34 Dividends Declared 41 Fees Earned 51 Salaries Exp 52 Rent Exp 53 Supplies Exp 54 Depreciation Exp 55 Insurance Exp 56 Advertising Exp 59 Misc Exp Raider Consulting Trial Balance January 31, 2020 Credits Debits 25,680 3,400 1,350 3,200 2,200 16,300 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equip Accumulated Depr Accounts Pay Salaries Pay Unearned Fees Common Stock Paid in Capital in excess of par Retained Earnings 380 650 450 2,250 35,000 2,300 11,100 During February, Raider Consulting entered into the following transactions: February 3. Received cash from clients as an advanced payment for services to be provided and recorded it as unearned fees, $900. 5. Received cash from clients on account, $1,500. 7. Paid part-time receptionist for two weeks' salary including the amount owed on January 31, $950. 9. Paid cash for a newspaper advertisement, $350. 13. Paid Office Station Co. for part of the debt incurred on January 5, $350. 15. Recorded services provided on account for the period February 1-14, $5,000. 17. Recorded cash received from clients for fees earned during the period February 1-14, $5,000. 18. Issued 800 shares of common stock for $2.50 per share. 20. Purchased supplies on account, $700. 21. Paid part-time receptionist for two weeks' salary, $950. 21. Recorded services provided on account for the period February 17-21, $2,500. 25. Recorded cash received from clients for fees earned for the period February 17-21, $2,000. 27. Received cash from clients on account, $4,550. 28. Paid telephone bill for February, $250. 28. Paid electricity bill for February, $300. 29. Recorded cash received from clients for fees earned for the period February 26-29, $2,875. 29. Recorded services provided on account for the remainder of February $2,550. 29. Declared and paid dividends of $6,500 to stockholders. Raider Consulting Adjusted Trial Balance Feburary 29, 2020 34,855 7,400 1,000 1,700 1,800 16,300 4 Cash 5 Accounts Receivable 6 Supplies 7 Prepaid Rent 8 Prepaid Insurance 9 Office Equipment 10 Accumulated Deprecation 11 Accounts Payable 12 Salaries Payable 13 Unearned Fees 14 Common Stock 15 Paid in Capital in Excess of Par 16 Retained Earnings 17 Dividends Declared 18 Fees Earned 19 Salaries Expense 20 Rent Expense 21 Supplies Expense 22 Depreciation Expense 23 Insurance Expense 24 Advertising Exp 25 Misc Exp 26 Totals: 27 780 1,000 475 1,350 36,600 2,700 11,100 6,500 21,725 1,925 1,500 1,050 400 400 350 550 75,730 75,730 28 Raider Consulting Unadjusted Trial Balance Feburary 29, 2020 34,855 7,400 2,050 3,200 2,200 16,300 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Deprecation Accounts Payable Salaries Payable 3 Unearned Fees Common Stock 5 Paid in Capital in Excess of Par Retained Earnings 7 Dividends Declared 3 Fees Earned 9 Salaries Exp Depreciation Exp 1 Insurance Exp 2 Advertising Exp 3 Misc Exp 4 Total 6,500 1,450 350 550 74,855