Solution-Prepare an income statement for the month of

Prepare an income statement for the month of october

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Reference no: EM132929674

Teal Mountain Inc., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following information.

Accounts payable: $ 3,100.

Supplies: $ 2,560

Interest expense: $360.

Supplies expense: $510

Equipment (net): $48,000

Depreciation expense: $270

Salaries and wages expense:$3,100

Service revenue:$ 20,130.

Bonds payable: $21,700

Salaries and wages payable:$ 570

Unearned service revenue:$4,070

Common stock:$10,600

Accounts receivable:$ 1,400

Interest playable $130

Cash: $4,100

Problem 1: Prepare an income statement for the month of October 2022

Reference no: EM132929674

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Prepare an income statement for the month of october

Reference no: EM132929674

Reference no: EM132929674

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