Answered>Order 6185

F. L. Wright Architects incorporated as licensed architects on September 1, 2018. During the first month of the operation of the business, these events and transactions occurred:

     Sept. 1     Stockholders invested $8,000 cash in exchange for common stock of the corporation.

               1    Paid office rent for the month of $900.

               2    Purchased architectural supplies on account from Spring Green Company, $1,000.

               6    Completed blueprints on an outdoor kitchen and billed client $1,300 for services.

             10    Received $1,500 cash advance from J. Madison to design a new home.

             14    Received $2,000 cash for services completed and delivered to M. Swanson.

             18    Paid employee wages of $800.

             25    Paid $200 to Spring Green Company for accounts payable due.

             30    Used $200 of supplies during the month.

        Determine Net Income for the month of September:

A.$1,200

B.$2,900

C.$1,800

D.$2,200

E.$1,400

 
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