Question
Current Attempt in Progress On June 1, Jennifer Davis started Pharoah Designs Co., a company that provides craft opportunities, by investing $13,410 cash in
Current Attempt in Progress On June 1, Jennifer Davis started Pharoah Designs Co., a company that provides craft opportunities, by investing $13,410 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 $11,000 Service Revenue $6,000 Accounts Receivable 2,900 Advertising Expense 500 Supplies 2,100 Rent Expense 1,600 Equipment 10,000 Gasoline Expense 180 Notes Payable 9,100 Utilities Expense 130 Accounts Payable 1,300 Jennifer made no additional investment in June but withdrew $1,400 in cash for personal use during the month. (a1) Prepare an income statement for the month of June. PHAROAH DESIGNS CO. Income Statement $ +A $ (a2) Prepare an owner's equity statement for the month of June. (List items that increase owner's equity first.) PHAROAH DESIGNS CO. Owner's Equity Statement : $ +0 $ (a3) Prepare a balance sheet at June 30, 2022. (List Assets in order of liquidity.) PHAROAH DESIGNS CO. Balance Sheet Assets +A Liabilities and Owner's Equity $ +A +A Prepare an income statement for June assuming the following data are not included above: (1) $700 of services were performed and billed but not collected at June 30, and (2) $100 of gasoline expense was incurred but not paid. PHAROAH DESIGNS CO. Income Statement 69- +A (b2) Prepare an owner's equity statement for June assuming the following data are not included above: (1) $700 of services were performed and billed but not collected at June 30, and (2) $100 of gasoline expense was incurred but not paid. (List items that increase owner's equity first.) PHAROAH DESIGNS CO. Owner's Equity Statement > > LA 69
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