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On June 1, Jennifer Davis started Pharoah Designs Co., a company that provides craft opportunities, by investing $13,410 cash in the business. Following are the

On June 1, Jennifer Davis started Pharoah Designs Co., a company that provides craft opportunities, by investing $13,410 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June.

Cash $11,000 Service Revenue $6,000
Accounts Receivable 2,900 Advertising Expense 500
Supplies 2,100 Rent Expense 1,600
Equipment 10,000 Gasoline Expense 180
Notes Payable 9,100 Utilities Expense 130
Accounts Payable 1,300

Jennifer made no additional investment in June but withdrew $1,400 in cash for personal use during the month.

Prepare an owners equity statement for the month of June. (List items that increase owner's equity first.)

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