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Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The following transactions occurred during the month of June. June 1 Stockholders invested
Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The following transactions occurred during the month of June.
June 1 | Stockholders invested $17,446 cash in the business in exchange for common stock. | |
2 |
| |
3 | Paid $306 for office rent for the month. | |
5 | Performed $4,644 of services on account. | |
9 | Declared and paid $309 in cash dividends. | |
12 | Purchased supplies for $234 on account. | |
15 | Received a cash payment of $1,167 for services provided on June 5. | |
17 | Purchased gasoline for $249 on account. | |
20 | Received a cash payment of $1,666 for services provided. | |
23 | Made a cash payment of $698 on the note payable. | |
26 | Paid $349 for utilities. | |
29 | Paid for the gasoline purchased on account on June 17. | |
30 | Paid $1,255 for employee salaries. |
My work was shown as...
June 1 | Cash 17,446 | Common Stock 17,446 |
2 | Cash -3,938 | Equipment 14,842 /Notes Payable 10,904 |
3 | Cash -306 | Expenses -306 |
5 | Accounts Receivable 4,644 | Revenues 4,644 |
9 | Cash -309 | Dividends -309 |
12 | Supplies 234 | Accounts Payable 234 |
15 | Cash 1,167 | Accounts Receivable -1,167 |
17 | Accounts Payable 249 | Expenses -249 |
20 | Cash 1,666 | Revenues 1,666 |
23 | Cash -698 | Notes Payable -698 |
26 | Cash -349 | Expenses -349 |
29 | Cash -249 | Accounts Payable -249 |
30 | Cash -1,255 | Expenses -1,255 |
After calculations my Assets=Liabilities+Stockholder's Equity was 31728=10440+21900 (liabilities + equity=32340) I don't know where i went wrong...:(
Also, prepare an income statement and balance sheet for the month of June...
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