Compute the amount of revenue from Monthly clients. Berthold Tax ServicesIncome StatementFor the Year Ended April 30, 2020Revenue:Revenue from Income Tax PreparationP 21,300Revenue from Monthly ClientsTotal Revenue7.Expenses:Salaries ExpenseAdvertising Expense.Rent ExpenseAutomobile Expense9006,0001,300General Office Expense7,500Total ExpensesP 28,200Net Income

Income statement is a form of financial statement which shows all incomes and all expenses of the…

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Business

Accounting

Compute the amount of revenue from Monthly clients.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 42BE: Accrued Income Taxes Nolan Inc. had taxable income of $400,000 in 2019. Its effective tax rate is...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Compute the amount of revenue from Monthly clients.

Berthold Tax Services
Income Statement
For the Year Ended April 30, 2020
Revenue:
Revenue from Income Tax Preparation
P 21,300
Revenue from Monthly Clients
Total Revenue
7.
Expenses:
Salaries Expense
Advertising Expense.
Rent Expense
Automobile Expense
900
6,000
1,300
General Office Expense
7,500
Total Expenses
P 28,200
Net Income

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