On september 1 2011 fast track inc was started with 30000

Reference no: EM13598557

On September 1, 2011, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2011, the accounting records contained the following amounts: Accounts payable: $2,200 Account receivbal: 2,200 Accumulated depereciation: 500 Cash: 10,000 Consulting fees revenue: 19,200 Contributed capital: 25,000 Depreciation expense: 500 Dividends declared and paid: $2,300 Office equipment:20,000 Office supplies inventory: 1,750 Office supplies expence:600 Rent expense: 2,400 Salary expense 6,900 Telephone expense: 250 Prepare an income statement for September for the first month of Fast Track's operation.

Reference no: EM13598557

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