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Hello, I have been having some trouble with some Accounting homework. All help is appreciated, thanks! Question: Nona Curry started her own consulting firm, Larkspur,
Hello, I have been having some trouble with some Accounting homework. All help is appreciated, thanks!
Question:
Nona Curry started her own consulting firm, Larkspur, Inc., on May 1, 2017. The following transactions occurred during the month of May.
May 1 | Stockholders invested $20,550 cash in the business in exchange for common stock. | |
2 | Paid $822 for office rent for the month. | |
3 | Purchased $685 of supplies on account. | |
5 | Paid $205 to advertise in the County News. | |
9 | Received $1,918 cash for services performed. | |
12 | Paid $274 cash dividend. | |
15 | Performed $5,754 of services on account. | |
17 | Paid $3,425 for employee salaries. | |
20 | Paid for the supplies purchased on account on May 3. | |
23 | Received a cash payment of $1,644 for services performed on account on May 15. | |
26 | Borrowed $6,850 from the bank on a note payable. | |
29 | Purchased office equipment for $2,740 paying $274 in cash and the balance on account. | |
30 | Paid $247 for utilities. |
Prepare an income statement for the month of May 2017.
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