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Question. On September 1, 2020, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2022, the
Question. On September 1, 2020, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2022, the accounting records contained the following amounts: Accounts payable $ 2,200 Dividends declared and $ 2,300 paid Accounts receivable 2,200 Office equipment 20,000 Accumulated depreciation 500 Office supplies inventory 1,750 Cash 10,000 Office supplies expense 600 Consulting fees revenue 19,200 Rent expense 2,400 Contributed capital 25,000 Salary expense 6,900 Depreciation expense 500 Telephone expense 250 1. Prepare an income statement for September for the first month of Fast Track's operation. Ignore income taxes. 2. On September 1, 2022, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2022. 3. Prepare a statement of stockholders' equity for September, the first month of operation. Ignore income taxes.
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