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Using the Following Accounts and Their Amounts, Prepare in Good

Question 184

Essay

Using the following accounts and their amounts, prepare in good format an Income Statement for Bright Futures Company, month ended August 31, 2011:
 Telephone Expense $1,150 Cash $3,000 Accounts Payable $1,540 Jason Bright, Drawing $800 Fees Earned $15,700 Rent Expense $1,400 Supplies $140 Accounts Receivable $1,500 Computer Equipuent $20,000 Jason Bright, Capital $14,320 Wages Expense $4,800 Utilities Expense $750 Notes Payable $2,400 Office Expense $420\begin{array}{ll}\text { Telephone Expense } & \$ 1,150 \\\text { Cash } & \$ 3,000 \\\text { Accounts Payable } & \$ 1,540 \\\text { Jason Bright, Drawing } & \$ 800 \\\text { Fees Earned } & \$ 15,700 \\\text { Rent Expense } & \$ 1,400 \\\text { Supplies } & \$ 140 \\\text { Accounts Receivable } & \$ 1,500 \\\text { Computer Equipuent } & \$ 20,000 \\\text { Jason Bright, Capital } & \$ 14,320 \\\text { Wages Expense } & \$ 4,800 \\\text { Utilities Expense } & \$ 750 \\\text { Notes Payable } & \$ 2,400 \\\text { Office Expense } & \$ 420\end{array}

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