Financial Statements Jose Loder established Bronco Consulting on August 1, 2019. The effect of each transaction and the balances after each transaction for August follow:
Financial Statements Jose Loder established Bronco Consulting on August 1, 2019. The effect of each transaction and the balances after each transaction for August follow: Assets = Liabilities + Owner’s Equity Cash + Accounts Receivable + Supplies = Accounts Payable + Jose Loder Capital – Jose Loder Drawing + Fees Earned – Salaries Expense – Rent Expense – Auto Expense – Supplies Expense – Misc. Expense a. +40,220 +40,220 b. +3,500 +3,500 Bal. 40,220 3,500 3,500 40,220 c. +39,420 +39,420 Bal. 79,640 3,500 3,500 40,220 39,420 d. -10,900 -10,900 Bal. 68,740 3,500 3,500 40,220 39,420 -10,900 e. -1,690 -1,690 Bal. 67,050 3,500 1,810 40,220 39,420 -10,900 f. +27,800 +27,800 Bal. 67,050 27,800 3,500 1,810 40,220 67,220 -10,900 g. -7,640 -5,230 -2,410 Bal. 59,410 27,800 3,500 1,810 40,220 67,220 -10,900 -5,230 -2,410 h. -16,100 -16,100 Bal. 43,310 27,800 3,500 1,810 40,220 67,220 -16,100 -10,900 -5,230 -2,410 i. -2,000 -2,000 Bal. 43,310 27,800 1,500 1,810 40,220 67,220 -16,100 -10,900 -5,230 -2,000 -2,410 j. -10,100 -10,100 Bal. 33,210 27,800 1,500 1,810 40,220 -10,100 67,220 -16,100 -10,900 -5,230 -2,000 -2,410 Required: 1. Prepare an income statement for the month ended August 31, 2019. Bronco Consulting Income Statement For the Month Ended August 31, 2019 Fees earned $ Expenses: Salaries expense $ Rent expense Auto expense Supplies expense Miscellaneous expense Total expenses Net income $ Feedback Financial Statements Jose Loder established Bronco Consulting on August 1, 2019. The effect of each transaction and the balances after each transaction for August follow: Assets = Liabilities + Owner’s Equity Cash + Accounts Receivable + Supplies = Accounts Payable + Jose Loder Capital – Jose Loder Drawing + Fees Earned – Salaries Expense – Rent Expense – Auto Expense – Supplies Expense – Misc. Expense a. +40,220 +40,220 b. +3,500 +3,500 Bal. 40,220 3,500 3,500 40,220 c. +39,420 +39,420 Bal. 79,640 3,500 3,500 40,220 39,420 d. -10,900 -10,900 Bal. 68,740 3,500 3,500 40,220 39,420 -10,900 e. -1,690 -1,690 Bal. 67,050 3,500 1,810 40,220 39,420 -10,900 f. +27,800 +27,800 Bal. 67,050 27,800 3,500 1,810 40,220 67,220 -10,900 g. -7,640 -5,230 -2,410 Bal. 59,410 27,800 3,500 1,810 40,220 67,220 -10,900 -5,230 -2,410 h. -16,100 -16,100 Bal. 43,310 27,800 3,500 1,810 40,220 67,220 -16,100 -10,900 -5,230 -2,410 i. -2,000 -2,000 Bal. 43,310 27,800 1,500 1,810 40,220 67,220 -16,100 -10,900 -5,230 -2,000 -2,410 j. -10,100 -10,100 Bal. 33,210 27,800 1,500 1,810 40,220 -10,100 67,220 -16,100 -10,900 -5,230 -2,000 -2,410 Required: 1. Prepare an income statement for the month ended August 31, 2019. Bronco Consulting Income Statement For the Month Ended August 31, 2019 Fees earned $ Expenses: Salaries expense $ Rent expense Auto expense Supplies expense Miscellaneous expense Total expenses Net income $ Feedback
How it Works
1
It only takes a couple of minutes to fill in your details, select the type of paper you need (essay, term paper, etc.), give us all necessary information regarding your assignment.
2
Once we receive your request, one of our customer support representatives will contact you within 24 hours with more specific information about how much it'll cost for this particular project.
3
After receiving payment confirmation via PayPal or credit card – we begin working on your detailed outline, which is based on the requirements given by yourself upon ordering.
4
Once approved, your order is complete and will be emailed directly to the email address provided before payment was made!