Reference no: EM132891677
Question - Financial Statements - Diane Bernick opened Bernick's Consulting. Transactions for the month of January and trial balance at January 31 are shown.
Jan. 1 Bernick invested cash in the business, $12,000.
Jan. 2 Paid office rent, $750.
Jan. 3 Purchased office equipment on account, $1,300.
Jan. 5 Received cash for services rendered, $950.
Jan. 8 Paid phone bill, $85.
Jan. 10 Paid for a magazine subscription (miscellaneous expense), $20.
Jan. 11 Purchased office supplies on account, $250.
Jan. 15 Made a payment on account (see Jan. 3 transaction), $200.
Jan. 18 Paid part-time employee, $600.21Received cash for services rendered, $800.
Jan. 25 Paid utilities bill, $105.
Jan. 27 Bernick withdrew cash for personal use, $400.
Jan. 29 Paid part-time employee, $600.
Required - Prepare an income statement.