Question: Saved Help Save & Ext Submit Mailin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a


Saved Help Save & Ext Submit Mailin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a small office where she employs one administrative assistant The following activities occurred during March 2020. her first month of business a. Moon invested $2,500 worth of equipment into her business along with $3.000 cash b. Submitted a series of articles to The Globe and Mail and received $6,500 cash c. Purchased supplies on credit: $600 d. Paid the part-time administrative assistant's salary of $1.450 e. Moon ordered $3,000 of office equipment from the IKEA catalogue It is scheduled to arrive in April or May f. Paid the rent for the first month $1.400. g. Submitted an article to Report on Business, will receive $4,500 next month 1. Prepare an income statement Mailin Moon-Freelance Writing Income Statement For Month Ended March 31, 2020 Revenues Freelance writing revenue Operating expenses Salanes expense Ront expenso Total operating expenses 0
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
