question archive Lydia Cravette operates a florist shop called Scents Unlimited Ltd

Lydia Cravette operates a florist shop called Scents Unlimited Ltd

Subject:AccountingPrice:3.87 Bought7

Lydia Cravette operates a florist shop called Scents Unlimited Ltd. During the month of May, the following things occurred:

1. She spent $200on the telephone system,$450on utilities, and$1.900on rent.

2. She took in$29,000from selling flowers and plants. All of the shop's sales were cash sales.

3. She spent$10,200for the cost of the flowers sold, she paid $270 for gas and repairs to the delivery vehicle (use Operating Expenses account), andξthe paid her employees$7,300for wages earned during the month.

Prepare astatement of income to determine how much Scents Unlimited Ltd, earned in May. 

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