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On June 1, Sarah Allen started Blossom Designs Co., a company that provides craft opportunities, by investing $13,190cash in the business. Following are the assets

On June 1, Sarah Allen started Blossom Designs Co., a company that provides craft opportunities, by investing $13,190cash 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$11,000Service Revenue$6,100Accounts Receivable3,400Advertising Expense400Supplies1,700Rent Expense1,400Equipment10,000Gasoline Expense220Notes Payable9,300Utilities Expense170Accounts Payable1,000

  1. Prepare an income statement for the month of June.
  2. Prepare an owner's equity statement for the month of June.(List items that increase owner's equity first.)
  3. Prepare a balance sheet at June 30, 2020.(List Assets in order of liquidity.)
  4. Prepare an income statement for June assuming the following data are not included above: (1) $950of services were performed and billed but not collected at June 30, and (2) $100of gasoline expense was incurred but not paid.
  5. Prepare an owner's equity statement for June assuming the following data are not included above: (1) $950of revenue was earned and billed but not collected at June 30, and (2) $100of gasoline expense was incurred but not paid.(List items that increase owner's equity first.)

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