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2. On June 1, Cinderella started Divine Designs Co., a company that provides craft 20 opportunities, by investing Tk. 22,000 cash in the business. Following
2. On June 1, Cinderella started Divine Designs Co., a company that provides craft 20 opportunities, by investing Tk. 22,000 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. Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable Tk. 10.150 Service Revenue 2,800 Advertising Expenses 2,000 Rent Expense 10,000 Gasoline Expense 9,000 Utilities Expense 1,200 Tk. 10.500 500 2,600 500 200 Cinderella made no additional investment in June but withdrew Tk. 1,000 in cash for personal use during the month. Required: Prepare an income statement and owner's equity statement for the month of June and a balance sheet at June 30, 2017
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