Question
On June 1, 2022,Skysong, Inc.was started with an initial investment in the company of $19,148cash. Here are the assets, liabilities, and common stock of the
On June 1, 2022,Skysong, Inc.was started with an initial investment in the company of $19,148cash. 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
$4,048
Notes payable
$10,560
Accounts receivable
3,520
Accounts payable
440
Service revenue
6,900
Supplies expense
880
Supplies
2,112
Maintenance and repairs expense
528
Advertising expense
352
Utilities expense
264
Equipment
22,880
Salaries and wages expense
1,232
Common stock
19,148
During June, the company issued no additional stock but paid dividends of $1,232.
How would you complete the income statement for the month of June?
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