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Q3: Gordon Beckham started his own delivery service, Beckham Deliveries, on June 1, 2019. The following transactions occurred during the month of June June 1:
Q3: Gordon Beckham started his own delivery service, Beckham Deliveries, on June 1, 2019. The following transactions occurred during the month of June June 1: Gordon invested $10,000 cash in the business. 2: Purchased a used van for deliveries for $12,000. Gordon paid $2,000 cash and signed a note payable for the remaining balance. 3: Paid $500 for office rent for the month. 5: Performed $4,400 of services on account. 9: Withdrew $200 cash for personal use. 12: Purchased supplies for $150 on account 15: Received a cash payment of $1,250 for services provided on June 5. 17: Purchased gasoline for $200 on account. 20: Received a cash payment of $1,300 for services provided. 23: Made a cash payment of $600 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. Requirements: (a) Show the effect of the previous transactions on the accounting equation using the following format: Assets Liability Owner's Equity Date Cash A/C Supplies Equipment Note A/C Capital Drawings Revenue Expense Receivable Payable Payable (b) Prepare an income statement for the month of June. (c) Prepare an owner's equity statement at June 30, 2019. (d) Prepare a balance sheet at June 30, 2019
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