Solution-Prepare an income statement for the month ending

Prepare an income statement for the month ending

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Reference no: EM13535329

After its first month of operations, the following amounts were taken from the accounting records of Mata Hari Realty Inc. as of April 30, 2004. Mata Hari Realty uses the cash basis of accounting.

Capital stock	$ 5,000	Notes payable	$15,000
Cash	10,750	Rent expense	3,000
Dividends	2,000	Retained earnings	0
Interest expense	1,000	Salaries expense	4,500
Land	18,500	Sales commissions	24,750
Miscellaneous expense	1,250	Utilities expense	3,750

Prepare an income statement for the month ending April 30, 2004.

Reference no: EM13535329

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Prepare an income statement for the month ending

Reference no: EM13535329

Reference no: EM13535329

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