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Following are the transactions of Hailey Walker business during june 2020 : June 1: Hailey Walker invested $ 10 000 cash to start her
Following are the transactions of Hailey Walker business during june 2020 : June 1: Hailey Walker invested $ 10 000 cash to start her new business HWE June 2: credit June 3: June 5 purchased for $6 000, a used food truck on purchased supplies for $2 500 paid cash purchased supplies for $1 100 on credit June 10: rendred food services for $2200 cash June 15: paid $ 1 000 rent expense in cash June 15 paid cash $ 700 salaries expense June 16: service contract signed for july June 17: services and teaching revenues of $ 1900 rendered for credit (S1600 food services and $ 300 teaching revenue) June 25 receipt of $ 1 900 cash on account June 26: Paiement of $ 900 accounts payable June 30 withdrawal of $ 600 by the owner 1. Record the june transactions in the journal 2. Post them to the ledger 3. Prepare a trial balance at june 30 4. Prepare the income statement for june 5. Prepare the statement of owner equity 6. Prepare the balance sheet as at june 30 Chart of accounts: 1100: Cash 1200: Accounts receivable 1400: supplies 1600 equipment 2100 Accounts payable 3000: H. Walker, capital 3100: H. Walker, Withdrawals 4000: Food Services Revenue 4100: Teaching Services revenue 5100: Rent expense 5200: Salaries expense STEP 4: PREPARE THE INCOME STATEMENT Revenue: Food Revenue Teaching Revenue Expenses: Rent expense Salaries expense Total expenses Net Income (net loss) Hailey Walker Inc income statement for June 2020 STEP 4: PREPARE THE STATEMENT OF OWNER'S EQUITY Hailey Walker Inc income statement Lisa Hunter, capital, june 1,2020 Add: Investment of the period .Net income Substract: Withdrawals of the period Loss of the period Lisa Hunter, Capital at june 30 for June, 2020
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