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On June 1, 19A, Global Services, Inc., was started with $50,000 invested by the owners as contributed capital. On June 30, the accounting records contained
On June 1, 19A, Global Services, Inc., was started with $50,000 invested by the owners as contributed capital. On June 30, the accounting records contained the following amounts: Accounts payable Accounts receivable Cash Contributed capital Consulting fees earned Dividends declared Office equipment $ 100 3,900 25,100 50,000 8,400 2,100 24,000 Office supplies Rent Expense Salary expense Supplies expense Telephone expense $ 500 1,300 1,000 100 500 Prepare an income statement in good form for June, the first month of operation. Ignore income taxes
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