Prepare an income statement for August.Monty Corp.Income StatementFor the Month Ended August 31, 2022 Y An analysis of transactions for Monty Corp., a certified public accounting firm, for the month of August is as follows. Assume thatAugust is the company's first month of business.AssetsLiabilitiesStockhAccountsAccountsCommonCash+ Receivable + Supplies + Equipment-PayableStockRevenuesExpen1.+$15,900+$15,9002.-4,000+$6,000+$2,0003.-800+$8004.+5,600+$3,700+$9,3005.-1,400-1,4006.-1,6007.-750-$78.4500-5009.-3,800-3,810.+450-4An analysis of transactions for Monty Corp., a certified public accounting firm, for the month of August is as follows. Assume thatAugust is the company's first month of business.Liabilities +Stockholders' EquityRetained EarningsAccountsCommonplies + EquipmentPayableExpenses - DividendStockRevenues+$15,900+$6,000+$2000$800+$9,300Service Revenue-1,400$1,600-$750Rent Expense-3,800Salaries/Wages Expense+450-450Utilities Expense

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Prepare an income statement for August. Monty Corp. Income Statement For the Month Ended August 31, 2022 %24 %24

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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