Susan starts a new word processing business with $5,000. She pays $450 in rent for...
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Accounting
Susan starts a new word processing business with $5,000. She pays $450 in rent for the first month, $1000 for wages, and $50 for phone usage. The business in the first month was a success, and she sold $1,800 worth of her word processing services. Given the above determine the following :
What was Susan's initial capital?
How much were her expenses?
What was Susan's revenue for the month?
Using the Income Statement determine what was her Net Income for the month?
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