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Part! Introduction and Overview (LO 2-2) 2-42. Pre The follo 2-38. Prepare Statements for a Service Company Chuck's Brokerage Service (CBS) is a discount financial
Part! Introduction and Overview (LO 2-2) 2-42. Pre The follo 2-38. Prepare Statements for a Service Company Chuck's Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the fol- lowing information for October. Dired Wor! $ Finis 1 Advertising and marketing 2 Brokerage commissions (revenues) 3 Building rent and utilities 4 Fees from clients for investment advice 5 Labor cost for advice 6 Managers' salaries 7 Sales commissions to brokers 8 Training programs for brokers 9 Fees paid to execute trades B 270,000 9,000,000 525,000 4,500,000 2,400,000 900,000 750,000 1,275,000 6,000,000 Direct year w Requi Recor a. C b. c. 10 Required Prepare an income statement for October for CBS. 2-43 The
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