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On June 1, Nancy Jackson started Blossom Designs Co., a company that provides craft opportunities, by investing $11,210 cash in the business. Following are
On June 1, Nancy Jackson started Blossom Designs Co., a company that provides craft opportunities, by investing $11,210 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 $7,200 Accounts Receivable 2,900 Advertising Expense 400 Supplies 1,600 Rent Expense 1,400 Equipment 10,000 Gasoline Expense 230 Notes Payable 9,300 Utilities Expense 180 Accounts Payable 1,100 Nancy made no additional investment in June but withdrew $1,100 in cash for personal use during the month.
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