Exercise 2-43 (Algo) Prepare Statements for a Service Company (LO 2-2) Tuscola Counseling Services is a small firm that advises job seekers on both employment and education alternatives. Robert Gibson, the founder and president, has collected the following Information for year just ended: Employee training Marketing Rent and facilities costs Revenue (client fees) Supplies Travel Wages and salaries Sales revenue Cost of services sold Required: Prepare an income statement for the year just ended for Tuscola Counseling Services. Note: Loss amount should be indicated with a minus sign. $8,700 70,400 Total costs of services sold 28,200 266,000 TUSCOLA COUNSELING SERVICES Marketing and administrative costs 51,040 40,100 81,400 Income Statement For the Year Just Ended Total marketing and administrative costs $ 266,000 0

Exercise 2-43 (Algo) Prepare Statements for a Service Company (LO 2-2) Tuscola Counseling Services is a small firm that advises job seekers on both employment and education alternatives. Robert Gibson, the founder and president, has collected the following Information for year just ended: Employee training Marketing Rent and facilities costs Revenue (client fees) Supplies Travel Wages and salaries Sales revenue Cost of services sold Required: Prepare an income statement for the year just ended for Tuscola Counseling Services. Note: Loss amount should be indicated with a minus sign. $8,700 70,400 Total costs of services sold 28,200 266,000 TUSCOLA COUNSELING SERVICES Marketing and administrative costs 51,040 40,100 81,400 Income Statement For the Year Just Ended Total marketing and administrative costs $ 266,000 0

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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