From the Information Given, Prepare a November Income Statement

question 25

Essay

From the information given, prepare a November income statement.
On November 1 of the current year, Lois Bell began Lois Bell, Interior Design as a corporation with an initial investment of $50,000 cash. On November 30 her records showed the following (alphabetically arranged) selected accounts and amounts:
$\begin{array}{|l|r|l|r|}\hline \text { Accounts payable } & \$ 12,000 & \text { Office furnishings } & \$ 40,000 \\\hline \text { Accounts receivable } & 23,000 & \text { Dividends } & 6,000 \\\hline \text { Cash } & 17,200 & \text { Rent expense } & 3,600 \\\hline \text { Fees earned } & 30,000 & \text { Salaries expense } & 6,200 \\\hline \text { Notes payable } & 4,250 & \text { Telephone expense } & 250 \\\hline\end{array}$

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Definitions:

Assaulting

Engaging in a physical attack or aggressive action against another person.

Ego

The second psychic structure to develop, characterized by self-awareness, planning, and delay of gratification.

Aversive Conditioning

A behavior-therapy technique in which undesired responses are inhibited by pairing repugnant or offensive stimuli with them.

Counter Conditioned

The process of changing an individual's emotional response to a particular stimulus by associating it with a new, positive or negative, response.