* READ CHAPTER TWO OF Survey of Accounting, 9th Edition, by Carl S. Warren and Amanda G. Farmer *

Answer Exercises 17, 18, 19, 20 at the end of the chapter.

E-17

After its first month of operations, the following amounts were taken from the accounting records of West Coast Dreams Realty Inc. as of June 30, 20Y9.

Cash	$ 86,000		Notes payable	$ 100,000
Common stock	150,000		Rent expense	16,000
Dividends	4,000		Retained earnings	0
Interest expense	600		Salaries expense	100,000
Land	200,000		Sales commissions	180,000
Miscellaneous expense	3,400		Utilities expense	20,000

Prepare an income statement for the month ended June 30, 20Y9.

E-18

Using the financial data shown in Exercise 2-17 for West Coast Dreams Realty Inc., prepare a statement of stockholders equity for the month ended June 30, 20Y9.

E-19

Using the financial data shown in Exercise 2-17 for West Coast Dreams Realty Inc., prepare a balance sheet as of June 30, 20Y9.

E-20

Using the financial data shown in Exercise 2-17 for West Coast Dreams Realty Inc., prepare a statement of cash flows for the month ended June 30, 20Y9.