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Please read each box, they give different situations Problem 1-03A al-a3,b1-b2 On June 1, Dorothy Taylor started Sandhill Designs Co., a company that provides craft
Please read each box, they give different situations
Problem 1-03A al-a3,b1-b2 On June 1, Dorothy Taylor started Sandhill Designs Co., a company that provides craft opportunities, by investing $14,530 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. $6,400 500 1,400 Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable $11,000 Service Revenue 3,200 Advertising Expense 2,200 Rent Expense 11,000 Gasoline Expense 8,800 Utilities Expense 1,400 240 190 Dorothy made no additional investment in June but withdrew $1,400 in cash for personal use during the month. Prepare an income statement for the month of June. SANDHILL DESIGNS CO. Income Statement For the Month Ended June 30, 2020 Revenues Service Revenue 6400 Expenses Advertising Expense 500 $ Utilities Expense 190 Gasoline Expense 240 Rent Expense 1400 Total Expenses 2330 Net Income / (Loss) 4070 Activate Windows Prepare an income statement for June assuming the following data are not included above: (1) $950 of services were performed and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. SANDHILL DESIGNS CO. Income Statement For the Month Ended June 30, 2020 Revenues Service Revenue LINK TO TEXT Prepare an owner's equity statement for June assuming the following data are not included above: (1) $950 of revenue was earned and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. (List items that increase owner's equity first.) SANDHILL DESIGNS CO. Owner's Equity Statement
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