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On June 1, 2022, Sheridan Company was started with an initial investment in the company of $25,200 cash. Here are the assets, liabilities, and common
On June 1, 2022, Sheridan Company was started with an initial investment in the company of $25,200 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 $ 5,500 Notes payable $13,800 Accounts receivable 4,490 Accounts payable 990 Service revenue 8,400 Supplies expense 960 Supplies 2,428 Maintenance and repairs expense 660 Advertising expense 400 Utilities expense 240 Equipment 31,100 Salaries and wages expense 1,100 Common stock 25,200 During June, the company issued no additional stock but paid dividends of $1,512. SHERIDAN COMPANY Income Statement Prepare an income statement for the month of June. +A $
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