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need done asap. During June 202X, the business completed these transactions: June 1: Received cash of $9000 and is sued common shares. June 1: Bought
need done asap.
During June 202X, the business completed these transactions: June 1: Received cash of $9000 and is sued common shares. June 1: Bought two computers for a total of $7500 by paying $1750 down and signing a note payablo for the rest. interest of 10% to be paid with the note payablo. on February 1 next year. The computers are expected to last 3 years. June 5; Performed services for a clent and received cash of 58500 . June 9: Paid $9500 on accounts payably. June 13: Purchased supples on acoount, $8500. June 20: Colkected cash fram a custemer on account, $800. June 23: Consuted on the design of a business report, and biled the clent for servises rendered, 54000. June 25: Declared and paid a cash dividend of 5000. June 30. Recoeded the folowing business expenses for the month: paid office rent, $500; paid adverting. $400. June 30: Accrued employee salacies. Employees work 5 days each week and are paid $4000 avery Friday, The month ended on a Wednescay. June 30 . A physical count reveabd that $1500 worth of supplies are stil on hand. 1) In the past, Little Blue Dog ine. has used the folowing accounts on their hcome statement: Revenue, Depreciation Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supples Expense. They use the Divisends account to record dividends. Not all accounts have been used each period. quired: 1) Create all necessary journal entries for the month of June 202. Pace your answer under "Roguirement 1 " in the 'Answer' tab. Note that the dates have been pro-populated. Ensure your journal entries match the appropriate date. Fxplanations are not required. 2) Aralyze the effocts of the above trantactions on the nocounting equaton. Place your answer under "Requirement 2 " in the "Answer" lab. 3) Prepare the income Statemert for the month onded June 30, 202. List expenses in decreasing order by amount. Place your answer under "Fequirement 3 in the "Answor' tab. 4) Pregare the Statement of Resained Eamings for the month andod June 30, 202x. Place your answer under "Requirement 4" In the "Answer" tab." 5) Prepare the Balance Sheet at June 30, 202X. Place your, answor under 'Requirement 5 " in the "Answer' tab. 6) Using the method outined in the textbook, journalize the necessary closing entries for the month ended Juse 30 , 202x. Place your answar under "Requerement is" in the "Answer" tab Step by Step Solution
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