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June 1, 2022, Blossom Company was started with an initial investment in the company of $24,000 cash. Here are the assets, pilities, and common stock
June 1, 2022, Blossom Company was started with an initial investment in the company of $24,000 cash. Here are the assets, pilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month operations: ash $ 4,770 Notes payable $12,340 accounts receivable 4.110 Accounts payable 610 ervice revenue 7,600 Supplies expense 740 upplies 2.262 690 Maintenance and repairs expense 400 Advertising expense 210 Utilities expense Equipment 29.000 1.000 Salaries and wages expense common stock 24.000 During June. the company issued no additional stock but paid dividends of $1,368. AG 8 Balance sheet June 30, 2022 Assets $ 4770 Cash 4,110 Accounts Receivable 2,262 Supplies 29,000 Equipment $ 40.142 Total Assets Liabilities and Stockholders' Equity Liabilities arch O Liabilities and Stockholders' Equity Liabilities Notes Payable ta 12,340 Accounts Payable 610 Total Liabilities $ 12,950 Stockholders' Equity Common Stock 24.000 Retained Earnings Stockholders' Equity Total Stockholders' Equity $ e to search O June 30, 2022 Retained Earnings, June 30 $ 0 Add Net Income (Loss) 4,560 4,560 Less v : Dividends 1,368 Retained Earnings, June 30 $ 3.192 e Textbook and Media List of Accounts Type here to search O EM Revenues $ Service Revenue 7,600 Expenses $ 1,000 Salaries and Wages Expense 740 Supplies Expense 400 Advertising Expense 690 Maintenance and Repairs Expense 210 Utilities Expense 3,040 Total Expenses O Bi Type here to search hp
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