On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft opportunities, by investing

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On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft opportunities, by investing $12,000 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June.

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Cindy made no additional investment in June but withdrew $1,300 in cash for personal use during the month.

Instructions

Prepare an income statement and owner?s equity statement for the month of June and a balance sheet at June 30, 2022.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  book-img-for-question

College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

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