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Required information PA3-4 Analyzing, Journallzing, and Interpreting Business Activities [LO 3-3, LO 3-5) (The following information applies to the questions displayed below) On September 1.
Required information PA3-4 Analyzing, Journallzing, and Interpreting Business Activities [LO 3-3, LO 3-5) (The following information applies to the questions displayed below) On September 1. Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $13.000 for 1.300 shares of OCC. On September 8. OCC borrowed $29.500 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $23,000 to acquire computer equipment. On September 15. OCC recelved $1.850 of supplies purchased on account and, on September 16. paid $2.100 for September rent. Through September 22, OCC provided its customers $11,900 of services, of which OCC collected $6,300 In cash. On September 28, OCC paid $405 for Internet and phone service this month. On September 29, OCC pald wages of $4,850 for the month. Finally, on September 30. OCC submitted its electricity meter reading online and determined that the total charges for the month will be $770. This amount will be paid on October 14 through a preauthorized online payment PA3.4 Part 3 3-a. Using your answer to part 1 or 2 calculate OCC's preliminary net Income for September. Preliminary Net Income
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