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Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts.  Cash =$25,460.  Land=$44,130; Acct payable =$22,510;    Supplies =$5,380;    Equipment =$20,160 Acct payable =$10,370 Dividends =$ 6130 Consulting fees earned =$27,130 Rent expense =$9690 Salaries expense =$5710 Telephone expense =$1010 Miscellaneous expense =$ 620 Common stock =$103,300 Use the above information to prepare an August Income statement for the business

Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts.  Cash =$25,460.  Land=$44,130; Acct payable =$22,510;    Supplies =$5,380;    Equipment =$20,160 Acct payable =$10,370 Dividends =$ 6130 Consulting fees earned =$27,130 Rent expense =$9690 Salaries expense =$5710 Telephone expense =$1010 Miscellaneous expense =$ 620 Common stock =$103,300 Use the above information to prepare an August Income statement for the business

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Jordan Shi operates a consulting firm called X, which began operations on August1. On August 31 the company's records show the following accounts. 

Cash =$25,460.  Land=$44,130;

Acct payable =$22,510;

   Supplies =$5,380;   

Equipment =$20,160

Acct payable =$10,370

Dividends =$ 6130

Consulting fees earned =$27,130

Rent expense =$9690

Salaries expense =$5710

Telephone expense =$1010

Miscellaneous expense =$ 620

Common stock =$103,300

Use the above information to prepare an August Income statement for the business

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