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Question - Following are the accounts and their amounts for Bright Futures Company for the month ended August 31.
Accounts Amounts
Telephone expense $ 1,150
Cash 3,000
Accounts payable 1,540
Dividends 800
Fees earned 15,700
Rent expense 1,400
Supplies 140
Accounts receivable 1,500
Computer equipment 17,600
Common stock 10,000
Retained earnings (August 1) 4,320
Wages expense 4,800
Utilities expense 750
Office expense 420
Required - Prepare in good format an income statement for Bright Futures Company for the month ended August 31. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. You will not need to enter colons (:) on the Income statement.
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