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Current Attempt in Progress On June 1, 2022, Cullumber Company was started with an initial investment in the company of $20,750 cash. Here are the
Current Attempt in Progress On June 1, 2022, Cullumber Company was started with an initial investment in the company of $20,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations: Cash $5,420 Notes payable $13,640 Accounts receivable 4,470 Accounts payable 970 Service revenue 8,300 Supplies expense 1,035 Supplies 2,309 Maintenance and repairs expense 680 Advertising expense 400 Utilities expense 220 Equipment 25,900 Salaries and wages expense 1,400 Common stock 20,750 During June, the company issued no additional stock but paid dividends of $1,826. Prepare an income statement for the month of June. CULLUMBER COMPANY Income Statement $ $
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