On June 1, 2022, Sunland Company was started with an initial investment in the company of $28,600 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		$ 4,850		Notes payable		$12,500
Accounts receivable		4,360		Accounts payable		860
Service revenue		7,800		Supplies expense		1,010
Supplies		2,424		Maintenance and repairs expense		630
Advertising expense		400		Utilities expense		270
Equipment		32,900		Salaries and wages expense		1,200
Common stock		28,600

During June, the company issued no additional stock but paid dividends of $1,716.

(a1)

Prepare an income statement for the month of June.

SUNLAND COMPANY Income Statement choose the accounting period For the Year Ended June 30, 2022For the Month 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 subtotal 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

eTextbook and Media

List of Accounts

Save for Later

Attempts: 0 of 15 used

Submit Answer

(a2)

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

SUNLAND COMPANY Retained Earnings Statement choose the accounting period For the Month Ended June 30, 2022For the Year 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