On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft opportunities, by investing
Question:
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.
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 SheetBalance 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
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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