On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the companys

Question:

On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the companyâ€™s records show the following items and amounts. Use this information to prepare an October income statement for the business.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting with IFRS Fold Out Primer

ISBN: 978-0077413804

5th edition

Authors: John Wild

See More Books

Question Posted: Mar 18, 2015 09:27 AM

See More Questions

On October 1, Keisha King organized Real Answers, a new consulting firm; on October 3, the owner contributed $84,000 cash. On October 31, the companys records show the following items and amounts....
Use this information to prepare a net worth analysis of Slicks girlfriend. Steve (Slick) Willy, 45, just got out of jail. As a reformed citizen on parole, Slick decides to go into business for...
The average bee weighs 0.1 grams. Use this information to convert the target package weight and tolerance limits into number of bees for Tyler Apiaries. How might the company use this information to...
How can we measure a security's contribution to the risk of the market portfolio?
During an economic slowdown, an automobile plant lost $12,000,000 on the production and sale of 9000 cars. Total revenue for the year was $270,000,000. If the break-even volume for the plant is...
Suppose four nodes, A, B, C, and D, are all connected to a hub via 10Mbps Ethernet cables. The distances between the hub and the 'e four nodes are 300m, 400111, 500m, and 700m, respectively. Recall...
Discuss why a patients responsibilities are as important as his or her rights.
Martinez Manufacturing Inc. showed the following costs for last month: Direct materials ....... $7,000 Direct labor ......... 3,000 Manufacturing overhead ... 2,000 Selling expense ........ 8,000...
Consider a firm that only has a patent as its asset. If not developed any further, the value of the patent will only be $19 million at the end of the year. The firm has long-term debt of $28 million,...
On May 2, 1988, Hannah Weather (Social Security number: 111-22- 3333) acquired residential real estate for $450,000. Of the cost, $100,000 was allocated to the land and $350,000 to the building. On...
Leora Diamond began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Diamond (the owner) completed these transactions: a. Owner...
Use the information in Exercise to prepare an October statement of retained earnings for Real Answers. In Exercise, On October 1, Keisha King organized Real Answers, a new consulting firm. On October...
Based on the information in the Mini-Case, Stocks Risk Premium, are the comparative returns to 10-year U.S. treasury bonds and the S&P 500 stock index consistent with risk aversion on the part of...
1. [50] For the code listed below: 1. #include 2. int i; 3. int p (int y) 4. { int j = 1; 5. return y; 6. } 7. void q(void) 8. { int j; 9. i = 2; 10. j = 2; 11. printf("%d ",p (i+j)); 12. } 13. main...
In this question, you will analyze their Measures of Profitability: Although Rush Industries' gross profit margin is ( a . below or b . above ) its industry average, the company has a ( n ) ( a ....
Based on the below graph which shows the growth of technology over six years, perform your calculation to determine the percentage growth of the technology on an annual basis per dollar. Assume that...
Jeff, the owner of a business, withdrew $ 1 0 0 from the business's chequing account for personal use. How would this affect the total equity of his busines?
During the most recent year, the firm estimated that it would pay $240,000 to its consultants and incur indirect operating costs of $360,000. Actual consultant labor costs were $255,000 and actual...
Use either indirect proof or conditional proof (or both) and the eighteen rules of inference to derive the conclusions of the following symbolized arguments. Having done so, attempt to derive the...
Imagine that your best friend knows you are taking a psychology course and wonders what psychology is all about. How would you define psychology for your friend? Write an essay on the discipline of...
If Mac goes ahead and recognizes a sale of $$15,000$ in its December 31 financial statements for this inconclusive agreement, which of the following is correct? (a) CFFO will increase by...
What is a selling expense budget? What is a capital expenditures budget?
Activity-based budgeting is a budget system based on expected activities. (1) Describe activity-based budgeting, and explain its preparation of budgets. (2) How does activity-based budgeting differ...
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among not-for-profit organizations and government...
Reply to The culture established by Mr. Kelleher places importance on employee happiness, which directly influences customer satisfaction and overall organizational achievements. To maintain this...
First, technology has a major impact on talent shortage. With the increased use of AI, there are fewer data analysis jobs required, so technology can potentially replace some forms of supply chain...
Career pathing programs arm staff with skills and provides incentives of growth, challenge, and visibility. It presents the chance to change the way a technology team is perceived internally and...

On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the companys

Question:

$11,500 Cash dividends $ 2,000 ..14,000 .. 2,520 5,600 760 580 ..2 Consulting fees earnec Accounts receivable 12,000 Office supplies .. Land Office equipment 24,437 Rent expense 46,000 Salaries expense 8,000 Telephone expense .... Miscellaneous expenses ...V... Common stock .. 84,360

Step by Step Answer:

Revenues Consulting fees earned Expenses Sala...View the full answer

Financial Accounting with IFRS Fold Out Primer

Students also viewed these Accounting questions