Question - F. L. Wright Architects incorporated as licensed architects on September 1, 2018. During the first month of the operation of the business, these events and transactions occurred:
Sept. 1 Stockholders invested $8,000 cash in exchange for common stock of the corporation.
Sept. 1 Paid office rent for the month of $900.
Sept. 2 Purchased architectural supplies on account from Spring Green Company, $1,000.
Sept. 6 Completed blueprints on an outdoor kitchen and billed client $1,300 for services.
Sept. 10 Received $1,500 cash advance from J. Madison to design a new home.
Sept. 14 Received $2,000 cash for services completed and delivered to M. Swanson.
Sept. 18 Paid employee wages of $800.
Sept. 25 Paid $200 to Spring Green Company for accounts payable due.
Sept. 30 Used $200 of supplies during the month.
Determine Net Income for the month of September?
A. $1,200
B. $2,900
C. $1,800
D. $2,200
E. $1,400