Question
On June 1, 2022, Blue Spruce Corp. was started with an initial investment in the company of $26,520 cash. Here are the assets, liabilities,
On June 1, 2022, Blue Spruce Corp. was started with an initial investment in the company of $26,520 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 $5,520 Notes payable $14,400 Accounts receivable 4,800 Accounts payable 600 Service revenue 9,000 Supplies expense 1,200 Supplies 2,880 Maintenance and repairs expense 720 Advertising expense 480 Utilities expense 360 Equipment 31,200 Salaries and wages expense 1,680 Common stock 26,520 During June, the company issued no additional stock but paid dividends of $1,680.
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