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Exercise 2.9 Preparing an Income Statement

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Exercise 2.9 – Preparing an Income Statement
At the beginning of September, Stanley Neal started Neal’s Investment Services, a firm that offers advice about investing and managing money. On September 30, the accounting records of the business showed the following information. Prepare an income statement for the month of September 2007.
Cash     $16,050     Fees Income     $36,400
Accounts Receivable     $1,500     Advertising Expense     $2,750
Office Supplies     $1,200     Salaries Expense     $7,500
Office Equipment     $18,250     Telephone Expense     $350
Accounts Payable     $2,350     Withdrawals     $4,000
Stanley Neal, Capital, Sept. 1, 2007     $12,850          

Exercise 2.10 Preparing a Statement of Owners Equity and a Balance Sheet

Using the information provided in Exercise 2.9, prepare a statement of owners equity and a balance sheet for Neal’s Investment Services as of September 30, 2007.
Submitted: 7 years ago.
Category: Homework
Expert:  Saikumar replied 7 years ago.

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Customer: replied 7 years ago.

Hi, where is the file attachment?

Expert:  Saikumar replied 7 years ago.



Actually i copied the answer and pasted there only so no need any excel sheet attachments.


thank you




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