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LO.7 (Cost of services rendered) The following information is related to the Lilliput Veterinary Clinic for April 2010, the ?rm's ?rst month of operation:
Veterinarian salaries for April
$16,200
Assistants' salaries for April
6,280
Medical supplies purchased in April
4,800
Utilities for month (90% related to animal treatment)
2,700
Office salaries for April (20% related to animal treatment)
1,900
Medical supplies on hand at April 30
2,200
Depreciation on medical equipment for April
3,700
Building rental (80% related to animal treatment)
3,100
Compute the cost of services rendered.
LO.1, 2, 3, 10 Simon owns stock that has declined in value since acquired. He has decided either to give the stock to his nephew, Fred, or to sell it and give Fred the proceeds.
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