Question
On June 1, 2017, Sheridan Company was started with an initial investment in the company of $22,200cash. Here are the assets, liabilities, and common stock
On June 1, 2017, Sheridan Company was started with an initial investment in the company of $22,200cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations:
Cash$4,890Notes payable$12,580Accounts receivable4,460Accounts payable960Service revenue7,790Supplies expense1,080Supplies2,320Maintenance and repairs expense680Advertising expense400Utilities expense220Equipment26,290Salaries and wages expense1,690Common stock22,200
In June, the company issued no additional stock but paid dividends of $1,500.
make income statement for the month of June.
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