Question

On June 30, after 3 months being open, Emily wants to know if her business, Interior Designs by Emily, is making a profit or not. Provided below are the balances in several accounts. Please create an interim Income Statement using the appropriate accounts. Please be sure to PROPERLY create the statement name, title and period using the correct format using the available information:

Fees earned, $67,000; Rent paid, $9,000; payments made on account to creditors, $4,200; Telephone and Internet expense, $3,980; Advertising Expense, $1,060, Utility Expense, $3,325, Wages paid employees, $21,000, Supplies purchased, $1,275, Owner Draws; $1,400.

Answer 1

Answer

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