Income Statement After its first month of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20Y9. Cash $116,600 Notes payable $77,000 Common stock 55,000 Rent expense 11,000 Dividends 22,000 Retained earnings Interest expense 4,400 Salaries expense 165,000 Land 92,400 Sales commissions 319,000 Miscellaneous expense 6,600 Utilities expense 33,000 Prepare an income statement for the month ending June 30, 20Y9. Big Mountain Realty Inc. Income Statement For the Month Ending lune 3 0 20Y9

Income Statement After its first month of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20Y9. Cash $116,600 Notes payable $77,000 Common stock 55,000 Rent expense 11,000 Dividends 22,000 Retained earnings Interest expense 4,400 Salaries expense 165,000 Land 92,400 Sales commissions 319,000 Miscellaneous expense 6,600 Utilities expense 33,000 Prepare an income statement for the month ending June 30, 20Y9. Big Mountain Realty Inc. Income Statement For the Month Ending lune 3 0 20Y9

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Description: Prepare an income statement for the month ending June 30, 20Y9.Big Mountain Realty Inc.Income StatementFor the Month Ending June 30, 20Y9Revenues:Sales commissionsExpenses:Total expensesNet income Income StatementAfter its first month of operations,

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 1.1.2P: Income statement, retained earnings statement, and balance sheet The amounts of the assets and...

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