Question
On June 1, 2022, Blossom Company was started with an initial investment in the company of $24,000 cash. Here are the assets, liabilities, and common
On June 1, 2022, Blossom Company was started with an initial investment in the company of $24,000 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations:
Cash | $ 4,770 | Notes payable | $12,340 | |||
---|---|---|---|---|---|---|
Accounts receivable | 4,110 | Accounts payable | 610 | |||
Service revenue | 7,600 | Supplies expense | 740 | |||
Supplies | 2,262 | Maintenance and repairs expense | 690 | |||
Advertising expense | 400 | Utilities expense | 210 | |||
Equipment | 29,000 | Salaries and wages expense | 1,000 | |||
Common stock | 24,000 |
During June, the company issued no additional stock but paid dividends of $1,368.
Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.)
BLOSSOM COMPANY Retained Earnings Statement choose the accounting period June 30, 2022For the Month Ended June 30, 2022For the Year Ended June 30, 2022 | |
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select an opening name DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues | $enter a dollar amount |
select between addition and deduction AddLess: select an item DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues | enter a dollar amount |
enter a subtotal of the two previous amounts | |
select between addition and deduction AddLess: select an item DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues | enter a dollar amount |
select a closing name DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues | $enter a total amount |
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