After its first month of operation, the following amounts were taken from the accounting records of Three Rivers Realty, Inc., as of November 30, 2007. Prepare an income statement for the month ending November 30,2007. Capital stock Cash Dividends Interest expense Land Miscellaneous expense $10,000 21,500 4,000 2,000 37,000 2,500 Notes payable Rent expense Retained earnings Salaries expense Sales commissions Utilities expense 30,000 6,000 9,000 49,500 7,500

After its first month of operation, the following amounts were taken

After its first month of operation, the following amounts were taken from the accounting records of Three Rivers Realty, Inc., as of November 30, 2007.

Prepare an income statement for the month ending November 30,2007.

Transcribed Image Text:

Capital stock Cash Dividends Interest expense Land Miscellaneous expense $10,000 21,500 4,000 2,000 37,000 2,500 Notes payable Rent expense Retained earnings Salaries expense Sales commissions Utilities expense 30,000 6,000 9,000 49,500 7,500

Members

Access to 2 Million+ Textbook solutions
Ask any question from 24/7 available
Tutors

$9.99

VIEW SOLUTION

Already member? Sign In

Non-Members

Get help from Accounting Tutors

Ask questions directly from Qualified Online Accounting Tutors .

Best for online homework assistance.

Relevant Subjects

Physics Business

Chemistry Earth Sciences

Engineering Mathematics

Medical Sciences Law

Humanities Computer Sciences

IT And Software

After its first month of operation, the following amounts were taken

Capital stock Cash Dividends Interest expense Land Miscellaneous expense $10,000 21,500 4,000 2,000 37,000 2,500 Notes payable Rent expense Retained earnings Salaries expense Sales commissions Utilities expense 30,000 6,000 9,000 49,500 7,500

Students also viewed these Accounting questions

Related Study Help Questions

Questions related to Accounting

Related Book For Free