On June 1, 2022, Bonita Industries was started with an initial investment in the company of $20,474 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		$ 4,324		Notes payable		$11,280
Accounts receivable		3,760		Accounts payable		470
Service revenue		7,350		Supplies expense		940
Supplies		2,256		Maintenance and repairs expense		564
Advertising expense		376		Utilities expense		282
Equipment		24,440		Salaries and wages expense		1,316
Common stock		20,474

During June, the company issued no additional stock but paid dividends of $1,316.

(a1)

Correct answer iconYour answer is correct.

Prepare an income statement for the month of June.

Bonita Industries Income Statement choose the accounting period For the Month Ended June 30, 2022For the Year Ended June 30, 2022June 30, 2022
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues
enter an income statement item		$enter a dollar amount
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues
enter an income statement item	$enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
select a closing name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues		enter a total amount for section two
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues		$enter a total net income or loss amount

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List of Accounts

Attempts: 1 of 3 used

(a2)

Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.)

Bonita Industries Retained Earnings Statement choose the accounting period For the Year Ended June 30, 2022For the Month Ended June 30, 2022June 30, 2022
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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