i More Info Jun 2 Sold $40,000 of common stock to Darryl Munro to start the construction business. 3 Paid monthly office rent, $1,500. 6 Paid cash for new construction equipment, $1,800. 8 Purchased office furniture on account, $2,000. 11 Purchased supplies on account, $200. 19 Performed service for a client on account, $1,800. 20 Paid utility expenses, $400. 28 Performed service for a client and received cash for the full amount of $2,000. Print Done i Requirements - X 1. 2. Record transactions in the journal. Explanations are not required. Post the journal entries to the T-accounts that have been set up for you. Identify all items by date. Calculate the ending balance in each account. Prepare a trial balance at June 30, 2018. Prepare the income statement, statement of retained earnings, and balance sheet for the month of June. 3. 4. Print Done Requirement 1. Record transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Jun 2: Sold $40,000 of common stock to Darryl Munro to start the construction business. Journal Entry Date Accounts Debit Credit Jun Jun 3: Paid monthly office rent, $1,500 Journal Entry Date Accounts Debit Credit Jun Jun 6: Paid cash for new construction equipment, $1,800. Journal Entry Date Accounts Debit Credit Jun Jun 8: Purchased office furniture on account, $2,000. Journal Entry Date Accounts Debit Credit Jun Jun 11: Purchased supplies on account, $200. Journal Entry Date Accounts Debit Credit Jun Jun 19: Performed service for a client on account, $1,800. Journal Entry Accounts Date Debit Credit Jun Jun 20: Paid utility expenses, $400. Journal Entry Date Accounts Debit Credit Jun Jun 28: Performed service for a client and received cash for the full amount $2,000. Journal Entry Date Accounts Debit Credit Jun Requirements 2. Post the journal entries to the T-accounts that have been set up for you. Identify all items by date. Calculate the ending balance in each account. Enter the ending balance along with a "Bal" reference on the appropriate side of each account. Cash Accounts receivable Supplies Jun Jun Jun Jun Jun Jun Equipment Furniture Accounts payable Jun Jun Jun Jun Jun Jun Common stock Service revenue Rent expense Jun Jun Jun Jun Jun Jun Utilities expense Jun Jun Requirement 3. Prepare a trial balance at June 30, 2018. Munro Construction, Inc. Trial Balance June 30, 2018 Account Debit Credit Total Requirement 4. Prepare the income statement, statement of retained earnings, and balance sheet for the month of June. Start by preparing the income statement. (If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Munro Construction, Inc. Income Statement For the Month Ended June 30, 2018 Revenue Expenses Total expenses Net income Prepare the statement of retained earnings. (Complete all answer boxes. Enter an amount for each account, including any zero-balances.) Munro Construction, Inc. Statement of Retained Earnings For the Month Ended June 30, 2018 Add: Prepare the balance sheet. First complete the asset portion of the statement, and then complete the liabilities and stockholders' equity sections of the statement. (If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Munro Construction, Inc. Balance Sheet June 30, 2018 Assets Liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities and stockholders' equity