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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: $ 4,770 Notes payable $12,340 Cash Accounts payable Accounts receivable 4,110 610 Service revenue 7,600 Supplies expense 740 Maintenance and repairs expense Supplies 2,262 690 Utilities expense Advertising expense 400 210 Salaries and wages expense 1,000 Equipment 29,000 Common stock 24,000 During June, the company issued no additional stock but paid dividends of $1,368. Your answer is partially correct. Prepare an income statement for the month of June. BLOSSOM COMPANY Income Statement For the Month Ended June 30, 2022 Service Revenue 7600 Expenses Supplies 2262 Supplies Expense 740 Advertising Expense 400 Salaries and Wages Expense 1000 Maintenance and Repairs Expense 690 Dividends Retained Earnings, June 1 930 Your answer is partially correct. Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.) BLOSSOM COMPANY Retained Earnings Statement For the Month Ended June 30, 2022 + eTextbook and Media %24 Prepare a balance sheet at June 30, 2022. (List assets in order of liquidity.) BLOSSOM COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity 2$ Liabilities and Stockholders' Equity 2$
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