During January 2020, the first month of operations, a consulting firm had the following transactions: 1....

  

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During January 2020, the first month of operations, a consulting firm had the following transactions: 1. Issued common stock to owners in exchange for $44,000 cash. 2. Purchased $11,000 of equipment, paying $2,200 cash and signing a promissory note for $8,800. 3. Received $19,800 in cash for consulting services performed in January. 4. Purchased $3,300 of supplies on account; all of the supplies were used in January. 5. Provided consulting services on account in the amount of $35,200. 6. Paid $1,650 on account. 7. Paid $6,600 to employees for work performed during January 8. Received a bill for utilities for January of $7,500; the bill remains unpaid. What are the total expenses that will be reported on the income statement for the month ended January 31? Multiple Choice O $8,250, Book Multiple Choice $8,250. O $17,950. O $17,400. $9,900. During January 2020, the first month of operations, a consulting firm had the following transactions: 1. Issued common stock to owners in exchange for $44,000 cash. 2. Purchased $11,000 of equipment, paying $2,200 cash and signing a promissory note for $8,800. 3. Received $19,800 in cash for consulting services performed in January. 4. Purchased $3,300 of supplies on account; all of the supplies were used in January. 5. Provided consulting services on account in the amount of $35,200. 6. Paid $1,650 on account. 7. Paid $6,600 to employees for work performed during January 8. Received a bill for utilities for January of $7,500; the bill remains unpaid. What are the total expenses that will be reported on the income statement for the month ended January 31? Multiple Choice O $8,250, Book Multiple Choice $8,250. O $17,950. O $17,400. $9,900.

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