Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer all three parts 1. Prepare an Income Statement, Owner's Equity Statement and Balance Sheet for the month ended June 30, 2021 for Rainbow
Please answer all three parts
1. Prepare an Income Statement, Owner's Equity Statement and Balance Sheet for the month ended June 30, 2021 for Rainbow Marketing. The business was started on June 1, 2021. Advertising Expense Accounts Payable Accounts Receivable Accumulated Depreciation: Equipment Cash Depreciation Expense Equipment Insurance Expense Interest Expense Notes Payable Prepaid Insurance Rent Expense Salaries Expense Salaries Payable Service Revenue Owners Capital Owners Drawings Supplies Supplies Expense Unearned Revenue $ 12,000 9,000 15,400 8,000 11,600 8,000 34,000 5,000 800 14,000 2,800 3,000 41,000 3,500 85,000 25,000 10,000 1,200 5,700 6,000 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started