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On June 1, 2017, Splish Brothers Inc. was started with an initial investment in the company of $22,240 cash. Here are the assets, liabilities,
On June 1, 2017, Splish Brothers Inc. was started with an initial investment in the company of $22,240 cash. 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 $5,290 Notes payable $13,380 Accounts receivable 4,360 Accounts payable 860 Service revenue 8,190 Supplies expense 1,070 Supplies 2,330 Maintenance and repairs expense 670 Advertising expense 400 Utilities expense 230 Equipment 26,690 Salaries and wages expense 2,090 Common stock 22,240 In June, the company issued no additional stock but paid dividends of $1,540.
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