1 CHAPTER 1 (10 POINTS) On June 1, 2021, Elite Service Co. was started with an initial investment in the company of $15,600 cash. Listed below are the balances in the general ledger of the company at June 30, 2021, its first month of operations. Notes payable 5 Cash $28,100 $5,500 6 Accounts receivable 6,500 Accounts payable 6,200 7 Service revenue 32,000 Supplies expense 2,500 8 Supplies 3,800 Maint. and repairs exp 1,100 9 Advertising expense 3,900 Utilities expense 3,800 10 Equipment 2,900 Salaries/wages expense 4,900 11 Common Stock 15,600 Dividends 1,800 12 13 Instructions: Prepare the set of financial statements below for the month of June. 15 NOTE: Using formulas whenever possible, fill in all highlighted cells below. 16 17 18 19 20 Revenues 21 22 Expenses 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Ready Total expenses CH 1 + ELITE SERVICE CO. ELITE SERVICE CO. B C D E 24 25 26 27 28 Total expenses 29 30 31 32 ELITE SERVICE CO. 33 34 35 36 37 38 39 40 41 42 43 ELITE SERVICE CO. 44 45 46 Assets 47 48 49 50 51 Total assets 52 53 Liabilities and Stockholders' Equity 54 Liabilities 55 56 57 58 Total liabilities Stockholders' equity 59 60 61 Total liabilities and stockholders' equity 62 63 CH 1 +