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Based on these events, help me fill out the first table, create an income statement, statement of retained earning and a balance sheet. I'm really
Based on these events, help me fill out the first table, create an income statement, statement of retained earning and a balance sheet. I'm really stuck! If you could explain in detail that would be much appreciated!
Plunge Pool Services Corporation David Plunge has been operating his pool services company for several years. The following events occurred during the second week of June. June 8: Plunge Pool Services Corporation performed $400 of services for customers. The customers did not pay cash for the services, but promised to pay cash within the next 30 days. June 10: Plunge Pool Services Corporation purchased $250 of supplies and promised to pay for them by the end of July. June 12: $325 cash was received today by Plunge Pool Services Corporationfor services provided to customers on June 8th. The remaining $75 will be received by July 8". June 14: Plunge Pool Services Corporation paid $100 cash for radio advertising during the week ended June 14. Required: 1. Add the two equations to table below on the first two lines: Resources = Borrowed + Invested + Mgt Generated Assets = Liabilities + Owners' Equity 2. Analyze the June events of Plunge Pool Services Corporation and present the analysis in the following table. Date 6/7 Totals Cash $8,000 Accounts Receivable Supplies $1,200 $1,500 +40 Accounts Payable $1,800 Common Stock $4,400 Retained Earnings $4,500 +40D 6/8 6/10 6/12 6/14 6/14 totals $8,225 $4,800 3. Calculate the following Plunge Pool Services Corporation items as of midnight, June 14, 2018. Total resources Total sources of borrowed resources Total sources of owner invested resources Total sources of management generated resources Plunge Pool Services Income Statement For the Week Ended June 14, 2018 Net Income Plunge Pool Services Statement of Retained Earnings For the Week Ended June 14, 2018 Plunge Pool Services Balance Sheet June 14, 2018 Liabilities and Stockholders' Equity Assets Total Liabilities and Stockholders' EquityStep by Step Solution
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