Doug kurtz has just completed the income statement for his

Reference no: EM13608465

Doug Kurtz has just completed the income statement for his first month in business as the owner of a new athletic club called get in shape! he had studied accounting in high school, so he felt confident enough to prepare his own income statement, summarized below

revenue 25 000
less: All expenses 8 000
net income 17 000

the revenue figure includes 60 membership at 300 each, which are good for one year. Most of these were sold on the first day of business. Doug is ecstatic with the high level of profits he has earned-but one of the club's members, a local accountant, has cautioned Doug to use all accounting principles properly, or serious errors could result.

Reference no: EM13608465

Questions Cloud

Ashes and jimmy formed a partnership to practise accounting : ashes and jimmy formed a partnership to practise accounting. ashes invested his personal library in the firm. the

Suppose that your wireless mouse has a single battery and : suppose that your wireless mouse has a single battery and that you buy batteries that have a mean lifetime of 6 weeks

A bullet is fired through a board 149 cm thick with a line : a bullet is fired through a board 14.9 cm thick with a line of motion perpendicular to the face of the board. if the

Entries for sale of fixed asset equipment acquired on : entries for sale of fixed asset equipment acquired on january 5 2009 at a cost of 734520 has an estimated useful life

Doug kurtz has just completed the income statement for his : doug kurtz has just completed the income statement for his first month in business as the owner of a new athletic club

Water moves through a constricted pipe in steady ideal : water moves through a constricted pipe in steady ideal flow. at the lower point the pressure is 1.68 105 pa and the

Suppose that you invest the entire 200000 in one stock find : suppose that you have 200000 to invest in stocks. if you invest 1000 in any particular stock your prot will be equal in

The bonmatin corporation produces all types of bowling : the bonmatin corporation produces all types of bowling balls. the bowling ball division is currently producing 3750

Your company acme computer is considering a new project : your company acme computer is considering a new project whose data are shown below. the equipment that would be used

User Account

All Pages