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Chapter 1 Continuing Problem Calculator CP Peytotheni ng to be of use and on course over the years to have a local reputation for knowledge of the top and they put t he record Dung th a nh to served as a c o n ditionin Peyton hastaned seved the best de One 1.205. Peyton estaba corporation nown as M ug an w e n v a n af for weddings, college parties, and other events Dung Peyton entered to the owing transactions une Deposited $4,000 in a theding account in the name of change for common stod 2. Received $3.500 from a locali tation for serving as the key for une 2. Agreed to share office space with a local real estate agency wade Reakty. PS Music will pay one fourth of the rent, in addition, PS Musk agreed to pay a portion of the wages of the receptionist and to pay one fourth of the ulties. Pad 1000 for the rent of the office 4. Purchased ples from Cty Office Supply Co. for $350. Agreed to pay $100 within 10 days and the remainder by July 5, 2015 6. Pad 500 to a local radio station to advertise the services of twice day for two weeks 1575 to a local ro tor for recording 12. Pad 30 to Cool for the wo r d s to make various music sets 13. P . 100 on account 16. 30 om a tt for providing tweets for the d for her parts 25. Received $500 for serving as the disc jockey for a cancer charity ball hosted by the local hospital. 29. Paid $240 (music expense) to Galaxy Music for the use of its library of music demos. 30. Received $900 for serving as PS disc jockey for a local dub's monthly dance. 30. Paid Pinnade Realty $400 for PS Music's share of the receptionist's wages for June. 30. Paid Pinnacle Realty $300 for PS Music's share of the utilities for June, 30. Determined that the cost of supplies on hand is $170. Therefore, the cost of supplies used during the month was $180. 30. Paid for miscellaneous expenses, $415. 30. Paid $1,000 royalties (music expense) to National Music Clearing for use of various artists' music during the month. 30. Paid dividends, $500. hapter 1 Continuing Problem 390 90 4 , 000 200 (900- C C Problem Continuing Problem Chapter 1 - Instruction #2 Refer to your answers from Chapter 1, Part 1 to complete this part. Prepare an income statement for PS Music for the month ended June 30, 20Y5. PS Music Income Statement For the Month Ended June 30, 2015 Fees Earned $ Expenses: Music Expense 1,590 6,200 Office Rent Expense 800 Equipment Rent Expense 675 Advertising Expense 500 Wages Expense 400 Utilities Expense 300 Supplies Expense v 180 Miscellaneous Expense v 415 Total Expenses 4,860 Net Income 1,340 Correct Chapter 1 estre Rate your hom Chapter 1 Parts and complete this part to the month and repea t of th e few June 2015. If an amount box sha
