On October 1, Natalie King organized Real Solutions, a new consulting firm. On O

Question

On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company's records show the following items and amounts Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments S 2,000 Cash withdrawals by owner 3,360 15,000 2,550 6,000 660 680 13,000 4,250 36,000 28,000 7,500 74,000 Consulting fees earned Rent expense Salaries expense Telephone expense Miscellaneous expenses Using the above information prepare an October income statement for the business. (Input all amounts as positive values. Omit the "$" sign in your response.) REAL SOLUTIONS Income Statement For Month Ended October 31 Revenues Click to select Expenses Click to select Click to select (Click to select) Click to select Total expenses Click to select

Explanation / Answer

REAL SOLUTIONS Income Statement For month ended october 31st Particulars Amount in $ Amount in $ Revenues: Consulting fees earned 15,000 Expenses: Salaries expense 6,000 Rent expense 2,550 Telephone expense 660 Miscallaneous expenses 680 Total expenses 9,890 Net Income 5,110

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