Problem - Carmen Camry operates a consulting firm called Help Today. On August 31, the company's records show the following accounts and amounts for the month of August. Use this information to prepare an August income statement for the business.
Cash $ 25,360 C. Camry, Withdrawals $ 6,000
Accounts receivable 22,360 Consulting fees earned 27,000
Office supplies 5,250 Rent expense 9,550
Land 44,000 Salaries expense 5,600
Office equipment 20,000 Telephone expense 860
Accounts payable 10,500 Miscellaneous expense 520
C. Camry, Capital, July 31 2,000 Owner investment made on August 4 100,000