Compute the amount of revenue from Monthly clients. Berthold Tax ServicesIncome StatementFor the Year Ended April 30, 2020Revenue:Revenue from Income Tax PreparationP 21,300Revenue from Monthly ClientsTotal Revenue7.Expenses:Salaries ExpenseAdvertising Expense.Rent ExpenseAutomobile Expense9006,0001,300General Office Expense7,500Total ExpensesP 28,200Net Income

Income statement is a form of financial statement which shows all incomes and all expenses of the…

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Business

Accounting

Compute the amount of revenue from Monthly clients.

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Compute the amount of revenue from Monthly clients.

Berthold Tax Services
Income Statement
For the Year Ended April 30, 2020
Revenue:
Revenue from Income Tax Preparation
P 21,300
Revenue from Monthly Clients
Total Revenue
7.
Expenses:
Salaries Expense
Advertising Expense.
Rent Expense
Automobile Expense
900
6,000
1,300
General Office Expense
7,500
Total Expenses
P 28,200
Net Income

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