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On June 1, 2022, Blossom Company was started with an initial investment in the company of $20,500 cash. Here are the assets, liabilities, and common
On June 1, 2022, Blossom Company was started with an initial investment in the company of $20,500 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 $5,290 Notes payable $13,380 Accounts receivable 4,360 Accounts payable 860 Service revenue 1,300 8,200 Supplies expense 2,427 Maintenance and repairs expense Supplies 670 Advertising expense 230 400 Utilities expense 25,000 Salaries and wages expense Equipment 1,500 Common stock 20,500 During June, the company issued no additional stock but paid dividends of $1,763. Prepare an income statement for the month of June. BLOSSOM COMPANY Income Statement $ > $ Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.) BLOSSOM COMPANY Retained Earnings Statement Prepare a balance sheet at June 30, 2022. (List assets in order of liquidity.) BLOSSOM COMPANY Balance Sheet Assets $ $ Liabilities and Stockholders' Equity $ $ $
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