Maynard Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for August follows: Fees earned   $3,400,000   Wages expense   2,150,000   Miscellaneous expense   55,000   Rent expense   320,000   Supplies expense   30,000   Prepare an income statement for the month ended August 31.

Financial Accounting
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Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter5: Accounting Systems
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Problem 6E: Global Services Company had the following transactions during the month of August: a. Record the...
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Maynard Services was organized on August 1, 20Y5. A summary of the revenue and expense transactions for August follows:

Fees earned   $3,400,000  
Wages expense   2,150,000  
Miscellaneous expense   55,000  
Rent expense   320,000  
Supplies expense   30,000  

Prepare an income statement for the month ended August 31.

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