Metlock Inc., a provider of consulting services, was founded on October 1, 2022. At the...
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Accounting
Metlock Inc., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following information. Accounts payable $ 4,200 Supplies $ 2,560 Interest expense 370 Supplies expense 450 Equipment (net) 49,000 Depreciation expense 240 Salaries and wages expense 2,900 Service revenue 20,500 Bonds payable 21,600 Salaries and wages payable 520 Unearned service revenue 4,110 Common stock 9,600 Accounts receivable 1,200 Interest payable 140 Cash 3,950 Using the information, answer the following questions. Prepare an income statement for the month of October 2022.
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