Question

ork Saved Required information Use the following information for Exercises 16-18 below. [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 31, the company's records show the following selected accounts and amounts for the month of August. $ 5,920 26,930 9,470 Cash Accounts receivable office supplies Land office equipment Accounts payable Common stock 25,280 Dividends 22,290 Consulting fees earned 5,170 Rent expense 43,950 Salaries expense 19,920 Telephone expense 10,720 Miscellaneous expenses 101,100 5,530 780 440 Exercise 2-16 Preparing an income statement LO C3, P3 Use the above information to prepare an August income statement for the business. HELP TODAY Income Statement

Answer 1

$26.930 Carmen Camry Income Statement For the month ended August 31 Revenues Consulting fee earned $26,930 Total Revenues Expenses Rent expense $9.470 Salaries expense $5,530 Telephone expense $780 Miscellaneous expenses $440 Total Expenses Net Income (Loss) $16,220 $10,710