Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December. Cash Accounts receivable office supplies Office equipment Land Accounts payable Common stock $ 25,300 Dividends. 22,310 Consulting revenue 5,190 Rent expense 19,940 Salaries expense 43,960 Telephone expense 10,800 Miscellaneous expenses 101,200 Exercise 2-25 (Algo) Preparing an income statement LO P1 Consulting revenue Use the above information to prepare a December income statement for the business. $ 5,940 26,940 9,490 5,550 800 460 HELP TODAY Income Statement As of December 31

Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December. Cash Accounts receivable office supplies Office equipment Land Accounts payable Common stock $ 25,300 Dividends. 22,310 Consulting revenue 5,190 Rent expense 19,940 Salaries expense 43,960 Telephone expense 10,800 Miscellaneous expenses 101,200 Exercise 2-25 (Algo) Preparing an income statement LO P1 Consulting revenue Use the above information to prepare a December income statement for the business. $ 5,940 26,940 9,490 5,550 800 460 HELP TODAY Income Statement As of December 31

Name: Required informationUse the following information for Exercises 25-27
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Description: Required informationUse the following information for Exercises 25-27 below. (Algo)[The following information applies to the questions displayed below.]Carmen Camry operates a consulting firm called Help Today, which began operations on December 1.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land $ 25,310 C. Camry, Withdrawals 22,320 Consulting fees earned 5,200 Rent expense 43,970 Salaries expense 19,960 Telephone expense 10,700 Miscellaneous expenses $ 5,950 26,960 9,500 5,560 820 470 Office equipment Accounts payable
Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 11,400 Common stock $ 18,400 Accounts receivable 5,200 Dividends 3,700 Notes receivable 4,200 Consulting revenue 20,500 Office supplies 3,200 Rental revenue 2,200 Prepaid insurance 2,700 Salaries expense 4,700 Equipment 12,500 Rent expense 3,700 Accounts payable 6,740 Advertising expense 740 Notes payable 4,100 Utilities expense 540 Unearned revenue 640 Required:1. Prepare a December income statement for the business.2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0.3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.
Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March.Equipment $10,000Office supplies $2,700Salaries expense 4,200Rental revenue 1,700Consulting revenue 18,000Advertising expense 640Cash 10,400Prepaid insurance 2,200Utilities expense 440Accounts payable 5,140Note payable 3,600Note receivable 3,700Accounts receivable 4,700Rent expense 3,200Common stock 16,400Unearned revenue 540Dividends 3,200Prepare a Balance Sheet:
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. Cash 25,440 Dividends 22,470 Consulting fees earned 5,360 Rent expense 44,100 Salaries expense 20,120 Telephone expense 10,420 Miscellaneous expenses 103,000 $ 6,100 27,100 9,660 5,690 Accounts receivable Office supplies Land Office equipment Accounts payable 980 600 Common stock 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 ...
Required information Use the following information for Exercises 25-27 below. (Algo) [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On Decembe the company's records show the following selected accounts and amounts for the month of December. Cash $ 25, 350 Dividends 22,340 Consulting revenue 5, 230 19,980 43,990 Telephone expense 10,660 Miscellaneous expenses $ 5,980 Accounts receivable Office supplies office equipment 26,980 Rent expense Salaries expense 9,530 5,590 850 Land Accounts payable 500 Common stock 101, 700 ercise 2-25 (Algo) Preparing an Income statement LO P1 e the above information to prepare a December income statement for the business. HELP TODAY Income Statement
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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Cash $ 10,200 Common stock $ 16,000 Accounts receivable 4,600 Dividends 3,100 Notes receivable 3,600 Consulting revenue 17,500 Office supplies 2,600 Rental revenue 1,600 Prepaid insurance 2,100 Salaries expense 4,100 Equipment 9,500 Rent expense 3,100 Accounts payable 4,820 Advertising expense 620 Notes payable 3,500 Utilities expense 420 Unearned revenue 520 Required:1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.