World Services Inc Prepare an Income Statement Through Operating Income for the Month

question 19

Short Answer

World Services Inc.has provided the following information pertaining to the month ended October 31,2010:
$$\begin{array} { l r l r } \text { Sales revenue } & \$ 100,000 & \text { Supplies expense } & \$ 1,500 \\\text { Interest expense } & 6,900 & \text { Rent expense } & 4,000 \\\text { Cost of goods sold } & 60,000 & \text { Salaries expense } & 9,500 \\\text { Dividends paid } & 5,000 & \text { Utilities expense } & 1,100 \\\text { Advertising expense } & 4,500 & \text { Loss on sale of land } & 3,200 \\\text { Dividends declared } & 7,100 & \text { Income tax expense } & 3,800 \\\text { Unearned revenues } & 6,100 & &\end{array}$$ Prepare an income statement through operating income for the month ended October 31,2010.

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Definitions:

Hierarchy

Hierarchy is a system of organizing people or things according to levels of importance or authority.

Basic Amenities

Essential facilities and services provided to make a living or working environment comfortable and functional, such as clean water, electricity, and sanitation.

Goal Theory

A framework that studies how setting goals influences behavior and performance.

Goal-Setting Process

A motivational technique involving the establishment of achievable, specific, and measurable objectives to enhance performance and focus.