Given Below Are the Accounts and Amounts for Bright Futures

question 124

Essay

Given below are the accounts and amounts for Bright Futures Company as of August 31, 2011. All of the revenue and expense amounts are for the month of August.
$\begin{array}{ll}\text { Telephone Expense } & \$ 1,150 \\\text { Cash } & 3,000 \\\text { AccountsPayable } & 1,540 \\\text { Dividends } & 800 \\\text { FeesEarned } & 15,700 \\\text { Rent Expense } & 1,400 \\\text { Supplies } & 140 \\\text { Accounts Receivable } & 1,500 \\\text { Computer Equipment } & 20,000 \\\text { Capital Stock } & 10,000 \\\text { WagesExpense } & 4,800 \\\text { Utilities Expense } & 750 \\\text { Notes Payable } & 2,400 \\\text { Retained Earnings } & 4,320 \\\text { Office Expense } & 420\end{array}$ Based on the data provided for Bright Futures Company, prepare in good format an income statement for the month ended August 31, 2011.

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Definitions:

Postsecondary Education

Education provided after high school, including programs at colleges, universities, and vocational schools.

Strong Ego

A psychological term indicating a person’s sense of self-esteem or self-importance, which is resilient and robust.

Weak Superego

Describes a condition in psychoanalytic theory where an individual's superego is not strong enough to balance the desires of the id, leading to potentially problematic behaviors.

Pleasure Principle

In psychoanalytic theory, the instinctual seeking of pleasure and avoiding of pain to satisfy biological and psychological needs.