After its first month of operation, the following amounts were taken from the accounting records of Polaris

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After its first month of operation, the following amounts were taken from the accounting records of Polaris Realty Inc. as of November 30, 2011.Prepare an income statement for the month ending November 30,2011.

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Survey of Accounting

ISBN: 978-0538749091

5th Edition

Authors: Carl S Warren

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Question Posted: Oct 20, 2011 08:56 AM

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After its first month of operation, the following amounts were taken from the accounting records of Polaris

Question:

Capital stock Cash Dividends Interest expense Land Miscellaneous expense Notes payable Rent expense Retained earnings Salaries expense Sales commissions Utilities expense $ 35,000 $25,000 38,000 10,000 5,000 65,000 2,000 42,000 3,000 120,000 15,000

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Revenues Sales commissions Expenses POLARIS REALTY IN...View the full answer

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