| \" Secure https//m.wormectnteducati noom Chapter 2 O 5 Required information Th

Question

| " Secure https//m.wormectnteducati noom Chapter 2 O 5 Required information The following information applies to the questions displayed below) Carmen Camry operates a consulting firm called Help Today, which began operations on August 1 On August 3t, the company's records show the following accounts and amounts for the month of August 6,000 Accounts receivable office sapplies 22,360 Consulting fees earned 20,000 Telephone expense Accounts payable Lianeos espenses 20 Use the above information to prepare an August income statement for the business Pint 527 000 Salares expense oe

Explanation / Answer

Help Today Income Statement For Month Ended August 31 Revenues: Consulting fees earned $27,000 Total Revenues $27,000 Expenses: Rent expense $9,550 Salaries expense $5,600 Telephone expense $860 Miscellaneous expense $520 Total Expenses $16,530 Net Income $10,470

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