HW Ch 2 solutions

HW Ch 2 solutions - Exercise 2-10 (15 minutes) TECH TALK...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Exercise 2-10 (15 minutes) T ECH T ALK Income Statement For Month Ended October 31 Revenues Consulting fees earned. ........................ $25,620 Expenses Salaries expense. .................................. $12,405 Rent expense. ........................................ 6,859 Telephone expense. .............................. 560 Miscellaneous expenses. ..................... 280 Total expenses. ..................................... 20,104 Net income. ................................................. $ 5,516
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Exercise 2-11 (15 minutes) TECH TALK Statement of Retained Earnings For Month Ended October 31 Retained earnings, October 1. .................. $ 0 Add: Net income (from Exercise 2-10). ..... 5,516 5,516 Less: Dividends. ........................................ 2,000 Retained earnings, October 31. ................ $ 3,516 Exercise 2-12 (15 minutes) TECH TALK Balance Sheet October 31 Assets Liabilities Cash. .............................. $ 12,614 Accounts payable. ............... $ 12,070 Accounts receivable. ... 25,648
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

HW Ch 2 solutions - Exercise 2-10 (15 minutes) TECH TALK...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online