2-5 - company's records show the following items and...

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Page 5 of 10 http://ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx?todo=printview 4. award: 1 out of 1 point Utilities Expense Aug. 31 675 Requirement 2: Use the amounts in the T-accounts developed in requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. (You must record the debit and credit entries in the order of T-accounts listed above. Omit the "$" sign in your response.) POSE FOR PICS Trial Balance August 31 Debit Credit Cash $ 6,176 Office Supplies 880 Prepaid Insurance 2,100 Photography Equipment 33,500 M. Harris, Capital $ 40,000 Photography Fees Earned 3,331 Utilities Expense 675 Totals $ 43,331 $ 43,331 Exercise 2-10 Preparing an income statement L.O. C4, P3 On October 1, Diondre Shabazz organized a new consulting firm called OnTech. On October 31, the
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Unformatted text preview: company's records show the following items and amounts. Use this information to prepare an October income statement for the business. (Omit the "$" sign in your response.) Cash $ 11,360 D. Shabazz, Withdrawals $ 2,000 Accounts receivable 14,000 Consulting Fees Earned 14,000 Office supplies 3,250 Rent Expense 3,550 Patents 46,000 Salaries Expense 7,000 Office Equipment 18,000 Telephone Expense 760 Accounts payable 8,500 Miscellaneous expense 580 D. Shabazz, Capital 84,000 ONTECH Income Statement For Month Ended October 31 Revenues: Consulting Fees Earned $ 14,000 Expenses: Miscellaneous Expenses $ 580 Rent Expense 3,550 Telephone Expense 760 Salaries Expense 7,000 Total Expenses 11,890...
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This note was uploaded on 08/09/2010 for the course ACCT 1 taught by Professor Ludwig during the Spring '10 term at Los Angeles City College.

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