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Discuss the above information prepare an october income

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On October 1, Keisha King organized Real Answers, a new consulting firm; On October 3, the owner contributed $70,065 cash. On October 31, the company's records show the following items and amounts.

             
  Cash $ 11,000   Cash dividends $ 2,000  
  Accounts receivable   18,000   Consulting fees earned   20,000  
  Office supplies   23,375   Rent expense   3,600  
  Land   46,000   Salaries expense   8,000  
  Office equipment   18,000   Telephone expense   760  
  Accounts payable   41,250   Miscellaneous expenses   580  
  Common stock   70,065        

 

Using the above information prepare an October income statement for the business.

Reference no: EM131770741

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