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On June 1, 2018, Cheyenne Corp. was formed. Its assets, liabilities, share capital, revenues, expenses, and dividends as at June 30 follow: Cash Accounts receivable

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On June 1, 2018, Cheyenne Corp. was formed. Its assets, liabilities, share capital, revenues, expenses, and dividends as at June 30 follow: Cash Accounts receivable Accounts payable Bank loan payable Common shares Dividends declared Service revenue Supplies expense $13,000 8,000 7,300 25,000 33.000 1.200 26,000 2,400 Supplies Equipment Interest expense Office expense Utilities expense Income tax expense Salaries expense $1,500 55,700 900 1,200 1.200 600 5,600 Prepare an income statement for the month of June. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e...(45)) CHEYENNE CORP Income Statement Month Ended June 30, 2018 Revenues Service Revenue 26.000 Expenses Supplies Expense $ 2.400 900 Interest Expense Office Expense 1.200 1.200 Utilities Expense Salaries Expense 5.600 Total Expenses 11.300 Income Before Income Tax 14.700 600 Income Tax Expense 14100 Net Income /(Loss) e Textbook and Media Prepare a statement of changes in equity for the month of June. (If an amount reduces the account balance then enter with negative sign es. -45 or parentheses e.g. (45)) CHEYENNE CORP. Statement of Changes in Equity Month Ended June 30, 2018 Common Shares Retained Earnings Total Equi Balance, June 1 Issued Common Shares V 33.000 Net Income /(Loss) 14,100 Dividends Declared -1.200 Balance, June 30 $ 33.000 12.900 $ e Textbook and Media List of Accounts Prepare a statement of financial position for the month as at June 30. (List Assets in order of liquidity) CHEYENNE CORP Statement of Financial Position Month Ended June 30, 2018 Assets Cash 13.000 Accounts Receivable 8,000 Equipment 55,700 Supplies 1,500 Total Assets 78.200 $ Liabilities and Shareholders' Equity Liabilities Accounts Payable 7,300 Bank Loan Payable 25.000 Total Liabilities 32,300 Shareholders' Equity Common Shares 33,000 Retained Earnings 12.900 Total Shareholders' Equity 45.900 Total Liabilities and Shareholders' Equity V 78.200

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