Solution-Prepare an income statement for october for cbs

Prepare an income statement for october for cbs

Reference no: EM13552718

Prepare Statements for a Service Company

Chuck's Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the following information for October:

<>	A	B	C
1	Advertising and marketing	$180,000
2	Brokerage commissions (revenues)	6,000,000
3	Building rent and utilities	350,000
4	Fees from clients for investment advice	3,000,000
5	Fees paid to execute trades	4,000,000
6	Labor cost for advice	1,600,000
7	Managers' salaries	600,000
8	Sales commissions to brokers	500,000
9	Training programs for brokers	850,000
10

Required

Prepare an income statement for October for CBS.

Reference no: EM13552718

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Prepare an income statement for october for cbs

Reference no: EM13552718

Reference no: EM13552718

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