homework help 241

Cumberland City Consultants started business on January 1, 2015, and immediately purchased $1,000 of supplies to use in the business. At the end of the month, 25 present of the supplies remains unpaid and 20% are still on hand. What amounts should appear on the financial statements for January, 2015?

Income statement             Statement of Cash Flow

a. ($1,000)                             ($1,000)

b. ($1,000)                             ($750)

c. ($800)                                 ($25)

d. ($800)                                ($750)

Thinking of between b and d.