Business, 13.02.2020 18:17, seasmarie75

"Chuck's Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the following information for October"

Advertising and marketing $ 270,000
Brokerage commissions (revenues) 9,000,000
Building rent and utilities 525,000
Fees from clients for investment advice 4,500,000
Labor cost for advice 2,400,000
Managers' salaries 900,000
Sales commissions to brokers 750,000
Training programs for brokers 1,275,000
Fees paid to execute trades 6,000,000
Required:

Prepare an income statement for October for CBS.

Sales revenue

Total Revenues

Cost of services sold

Total cost of services

Marketing and administrative costs

Total marketing and administrative costs

Answers: 1

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"Chuck's Brokerage Service (CBS) is a discount financial services firm offering clients investment a...