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Please help me for details: P1.4A (LO 4, 5), AP Nancy Tercek started a delivery service, Tercek Deliveries, on June 1,2022 . The following transactions
Please help me for details:
P1.4A (LO 4, 5), AP Nancy Tercek started a delivery service, Tercek Deliveries, on June 1,2022 . The following transactions occurred during the month of June. June 1 Stockholders invested $10,000 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries for $14,000. Nancy paid $2,000 cash and signed a note payable for the remaining balance. 3 Paid $500 for office rent for the month. 5 Performed $4,800 of services on account. 9 Declared and paid $300 in cash dividends. 12 Purchased supplies for $150 on account. 15 Received a cash payment of $1,25 o for services performed on June 5 . 17 Purchased gasoline for $100 on account. 20 Received $1,500 cash for services performed. 23 Made a cash payment of $500 on the note payable. 26 Paid $250 for utilities. 29 Paid for the gasoline purchased on account on June 17. 30 Paid $1,000 for employee salaries. Instructions Include margin explanations for any changes in stockholders' equity in your analysis. a. Total assets $25,800 b. Prepare an income statement for the month of June. b. Net income $4,450 c. Prepare a balance sheet at June 30,2022 . c. Cash $8,100 Determine financial statement amounts and prepare retained earnings statementStep by Step Solution
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