Cougar’s Accounting Services provides low-cost tax advice and preparation to those with financial need. At the end of the current period, the company reports the following amounts: Assets = $15,000; Liabilities = $13,000; Revenues = $24,000; Expenses = $31,000.
Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. For the current year, the company reports the following amounts:
|Advertising expense||$||33,000||Service revenue||$||125,100|
|Salaries expense||64,600||Utilities expense||15,000|