help
Problem 7: Record the transactions summarized below on a transactions worksheet and calculate the soul of each column the end of June. Calculate the toolsets and total liabilities plus equity, finding and fixing any mistakes as required. Prepare an income statement and a statement of changes in equity for the one-month period ended Jund 30, 2019 and a balance sheet earned as "renovations". Record the expenses on the income statement in alphabetical order. June 30. Record the revenue Assets Prepaid expense Accounts receivalbe Cash Liabilities Accounts Bank loan + payable + Unused supplies Equity Retained + Comm stock + carnings + + + Truck = Column totals Total assets Total liability plus equity Transactions list for problem 7 June 1 Issued common stock for $8,000 cash 1 Purchased $5,000 equipment on credit 2 Collected $600 cash for renovations completed today 3 Paid $20 for supplies used June 2 4 Purchased $1,000 supplies on credit (record supplies as an asset 5 Billed customers $2,500 for renovations completed to date 8 Collected $500 of the amount billed June 5 10 Paid half of the amount owing for equipment purchased June 1 Sold excess equipement for a promise from the buyer to pay $1,000 in the future. The same amount is the same as the original cost of 15 this equipment. Record as an accounts receivable 18 Paid for the supplies purchased June 4 20 Received a bill for $100 for electricity used to date 22 Paid $600 to the landlord for June and JULY rent (record as prepaid expense) 23 Signed a union contract 25 Collected $1000 of the amount billed June 5 27 Paid the following expenses: advertising: $150; telephone, S50; truck operating expense (repairs, gas). S1.000: wages, $2.500 30 Billed $2,000 for repairs completed to date 30 Transferred the amount for June rent to rent expense 30 Counted $150 of supplies still on hand (recorded the amount used as an expense) 30 Paid $30 dividend in cash Problem 7: Record the transactions summarized below on a transactions worksheet and calculate the soul of each column the end of June. Calculate the toolsets and total liabilities plus equity, finding and fixing any mistakes as required. Prepare an income statement and a statement of changes in equity for the one-month period ended Jund 30, 2019 and a balance sheet earned as "renovations". Record the expenses on the income statement in alphabetical order. June 30. Record the revenue Assets Prepaid expense Accounts receivalbe Cash Liabilities Accounts Bank loan + payable + Unused supplies Equity Retained + Comm stock + carnings + + + Truck = Column totals Total assets Total liability plus equity Transactions list for problem 7 June 1 Issued common stock for $8,000 cash 1 Purchased $5,000 equipment on credit 2 Collected $600 cash for renovations completed today 3 Paid $20 for supplies used June 2 4 Purchased $1,000 supplies on credit (record supplies as an asset 5 Billed customers $2,500 for renovations completed to date 8 Collected $500 of the amount billed June 5 10 Paid half of the amount owing for equipment purchased June 1 Sold excess equipement for a promise from the buyer to pay $1,000 in the future. The same amount is the same as the original cost of 15 this equipment. Record as an accounts receivable 18 Paid for the supplies purchased June 4 20 Received a bill for $100 for electricity used to date 22 Paid $600 to the landlord for June and JULY rent (record as prepaid expense) 23 Signed a union contract 25 Collected $1000 of the amount billed June 5 27 Paid the following expenses: advertising: $150; telephone, S50; truck operating expense (repairs, gas). S1.000: wages, $2.500 30 Billed $2,000 for repairs completed to date 30 Transferred the amount for June rent to rent expense 30 Counted $150 of supplies still on hand (recorded the amount used as an expense) 30 Paid $30 dividend in cash
