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Continuing Problem Chapter 1 - Instruction # 4 Refer to your answers from Chapter 1 , Parts 1 and 3 to complete this part. Prepare

Continuing Problem
Chapter 1- Instruction #4
Refer to your answers from Chapter 1, Parts 1 and 3 to complete this part.
Prepare a balance sheet for PS Music as of June 30,20Y5.
PS Music
Balance Sheet
June 30,20Y5
Assets
$
Total Assets
Liabilities
Stockholders' Equity
Total stockholders' equity
Total liabilities and stockholders' equity
Continuing ProblemContinuing Problem
Chapter 1- Instruction #3
Refer to your answers from Chapter 1, Parts 1 and 2 to complete this part.
PS Music
Statement of Stockholders' Equity
For the Month Ended June 30,20Y5
For the Month Ended June 30,20Y5
Chapter 1- Instruction #1
During the last several months, Peyton served as a guest disc jockey on a local radio station. In addition, Peyton has entertained at several friends' parties as the host deejay.
June 1. Deposited $4,000 in a checking account in the name of PS Music in exchange for common stock.
June 2. Received $3,500 from a local radio station for serving as the guest disc jockey for June.
June 2. Agreed to share office space with a local real estate agency, Pinnacle Realty. PS Music will pay one-fourth of the rent. In addition, PS Music agreed to pay a portion of the wages of the
receptionist and to pay one-fourth of the utilities. Paid $800 for the rent of the office.
June 4. Purchased supplies from City Office Supply Co. for $350. Agreed to pay $100 within 10 days and the remainder by July 5,20 Y5.
June 6. Paid $500 to a local radio station to advertise the services of PS Music twice daily for two weeks.
June 8. Paid $675 to a local electronics store for renting digital recording equipment.
June 12. Paid $350(music expense) to Cool Music for the use of its current music demos to make various music sets.
June 13. Paid City Office Supply Co. $100 on account.
June 16. Received $300 from a dentist for providing two music sets for the dentist to play for her patients.
June 22. Served as disc jockey for a wedding party. The father of the bride agreed to pay $1,000 in July.
June 25. Received $500 for serving as the disc jockey for a cancer charity ball hosted by the local hospital.
June 29. Paid $240(music expense) to Galaxy Music for the use of its library of music demos.
June 30. Received $900 for serving as PS disc jockey for a local club's monthly dance.
June 30. Paid Pinnacle Realty $400 for PS Music's share of the receptionist's wages for June.
June 30. Paid Pinnacle Realty $300 for PS Music's share of the utilities for June.
June 30. Determined that the cost of supplies on hand is $170. Therefore, the cost of supplies used during the month was $180.
June 30. Paid for miscellaneous expenses, $415.
June 30. Paid $1,000 royalties (music expense) to National Music Clearing for use of various artists' music during the month.
June 30. Paid dividends, $500.
Required:
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