2. Prepare an income statement for July 2020.VIVID VOICEIncome StatementFor Month Ended July 31, 2020Revenues:Operating expenses:Total operating expenses Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as onlinemarketing campaigns and blog services. The June transactions for Vivid Volce resulted in totals at June 30, 2020, as shown in thefollowing accounting equation format:AssetsLiabilities.AccountsEquityExplanation of EquityAccountsReceivable Supplies Equipnent$2,000 + $2,700NatalieGold, Capital$14,000Cash$6, 800 .Payable$4, 800$7,300TransactionDuring July, the following occurred:a. Collected $880 from a credit customer.b. Paid $2,900 for equipment purchased on account in June.c. Did work for a client and collected cash; $1,900.d. Paid a part-time consultant's wages: $1,030.e. Paid the July rent, $2,000.f. Paid the July utilities: $1,000.g. Performed services for a customer on credit $2,000.h. Called an information technology consultant to fix the agency's photo editing software in August; it will cost $430.

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Description: 2. Prepare an income statement for July 2020.VIVID VOICEIncome StatementFor Month Ended July 31, 2020Revenues:Operating expenses:Total operating expenses Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online co

Introduction:- Income statement shows detailing a company's income and expenses over a period of…

Answered: 2. Prepare an income statement for July…

Business

Accounting

2. Prepare an income statement for July 2020.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 92PSA: A Preparation of Ratios Refer to the financial statements for Burch Industries in Problem 12-89A and...

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