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

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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.

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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: May 29, 2012 07:40 AM

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

Question:

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

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