EmploiMaintenant LLC (EML) operates an employment center in a local mall. The company works closely with Service Canada to provide access to employment opportunities for young adults and recent graduates. The shareholder and general manager is Marie-France Tessier. During the month of April, the following activities occurred:
1. On April 1, Marie-France decided to replace four computers that are available for clients to use in the center. EML donated the old computers to "Computers in Haiti" a charity that refurbishes and supplies old computers to schools in Haiti. EML paid $5,220 cash for the new machines. The new computers are expected to last for 3 years at which time they will also be donated to charity.
2. The company made cash sales of $11,400 worth of coffee and snacks during April. Another $800 in sales on account was made for a seminar that Marie-France presented in the adjoining office building. She expects to collect that amount in 30 days.
3. In conjunction with a study of similar companies in other cities, EM sold their first memberships for $1,800, which entitle the holder complete data base access for six months. EM also collected $350 in user fees from non-members during the month.
4. Staff wages paid during the month was $875. $175 of this amount related to work done in March and no one has been paid for the last three days of April, a total of $95.
5. The utilities, including data base fees and internet access fee, are paid in advance for a two- month period. They total $360 per month and were paid on April 15.
6. Monthly rent of $2,000 was paid.
7. Marie-France ordered a new soda dispenser and other supplies for the snack bar totaling $5, 000 and paid the $4,500 outstanding accounts payable from March. At the beginning of April, she had estimated that there was $600 in supplies inventory on hand, and at April 30 supplies inventory was estimated at $1,000.
8. On April 30, EM repaid in full a $5, 000 loan to Marie-France, who had lent money to EM when it first opened. She had been charging 6% interest on the loan and the interest was paid at the end of every month.
9. The income tax rate is 25%. Required: Prepare a proper form multiple step statement of earnings for the month of April.

Question

EmploiMaintenant LLC (EML) operates an employment center in a local mall. The company works closely with Service Canada to provide access to employment opportunities for young adults and recent graduates. The shareholder and general manager is Marie-France Tessier. During the month of April, the following activities occurred: 
1. On April 1, Marie-France decided to replace four computers that are available for clients to use in the center. EML donated the old computers to "Computers in Haiti" a charity that refurbishes and supplies old computers to schools in Haiti. EML paid $5,220 cash for the new machines. The new computers are expected to last for 3 years at which time they will also be donated to charity. 
2. The company made cash sales of $11,400 worth of coffee and snacks during April. Another $800 in sales on account was made for a seminar that Marie-France presented in the adjoining office building. She expects to collect that amount in 30 days. 
3. In conjunction with a study of similar companies in other cities, EM sold their first memberships for $1,800, which entitle the holder complete data base access for six months. EM also collected $350 in user fees from non-members during the month.
 4. Staff wages paid during the month was $875. $175 of this amount related to work done in March and no one has been paid for the last three days of April, a total of $95.
 5. The utilities, including data base fees and internet access fee, are paid in advance for a two- month period. They total $360 per month and were paid on April 15. 
6. Monthly rent of $2,000 was paid. 
7. Marie-France ordered a new soda dispenser and other supplies for the snack bar totaling $5, 000 and paid the $4,500 outstanding accounts payable from March. At the beginning of April, she had estimated that there was $600 in supplies inventory on hand, and at April 30 supplies inventory was estimated at $1,000. 
8. On April 30, EM repaid in full a $5, 000 loan to Marie-France, who had lent money to EM when it first opened. She had been charging 6% interest on the loan and the interest was paid at the end of every month. 
9. The income tax rate is 25%. Required: Prepare a proper form multiple step statement of earnings for the month of April.

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The Answer of EmploiMaintenant LLC (EML) operates an employment center in a local mall. The company works closely with Service Canada to provide access to employment opportunities for young adults and recent graduates. The shareholder and general manager is Marie-France Tessier. During the month of April, the following activities occurred: 
1. On April 1, Marie-France decided to replace four computers that are available for clients to use in the center. EML donated the old computers to "Computers in Haiti" a charity that refurbishes and supplies old computers to schools in Haiti. EML paid $5,220 cash for the new machines. The new computers are expected to last for 3 years at which time they will also be donated to charity. 
2. The company made cash sales of $11,400 worth of coffee and snacks during April. Another $800 in sales on account was made for a seminar that Marie-France presented in the adjoining office building. She expects to collect that amount in 30 days. 
3. In conjunction with a study of similar companies in other cities, EM sold their first memberships for $1,800, which entitle the holder complete data base access for six months. EM also collected $350 in user fees from non-members during the month.
 4. Staff wages paid during the month was $875. $175 of this amount related to work done in March and no one has been paid for the last three days of April, a total of $95.
 5. The utilities, including data base fees and internet access fee, are paid in advance for a two- month period. They total $360 per month and were paid on April 15. 
6. Monthly rent of $2,000 was paid. 
7. Marie-France ordered a new soda dispenser and other supplies for the snack bar totaling $5, 000 and paid the $4,500 outstanding accounts payable from March. At the beginning of April, she had estimated that there was $600 in supplies inventory on hand, and at April 30 supplies inventory was estimated at $1,000. 
8. On April 30, EM repaid in full a $5, 000 loan to Marie-France, who had lent money to EM when it first opened. She had been charging 6% interest on the loan and the interest was paid at the end of every month. 
9. The income tax rate is 25%. Required: Prepare a proper form multiple step statement of earnings for the month of April.

EmploiMaintenant LLC (EML) Operates an Employment Center in a Local