Ricky Moss
New member
Charles Street Consultants started business on January 1, 2010, and immediately purchased $1,000 of supplies to use in the business. At the end of the month, 25 percent of the supplies remains unpaid and 20% are still on hand. What amounts should appear on the financial statements for January, 2010?
Income Statement-----Statement of Cash Flows
a. $ 1,000 ------------- $ 1,000
b. $ 1,000 -------------- $ 750
c. $ 800 --------------$ 750
d $ 800 --------------$ 250
im thinking b or c, leaning on b. does income statement recognize the full $1000?
@Chrysanthemum2011 ---yeah? how about you gtfo
Income Statement-----Statement of Cash Flows
a. $ 1,000 ------------- $ 1,000
b. $ 1,000 -------------- $ 750
c. $ 800 --------------$ 750
d $ 800 --------------$ 250
im thinking b or c, leaning on b. does income statement recognize the full $1000?
@Chrysanthemum2011 ---yeah? how about you gtfo