Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following events occurred in June: June 1 : Owner contributed $ 5 0 , 0 0 0 in cash to the business. June 1
The following events occurred in June:
June : Owner contributed $ in cash to the business.
June : Owner purchased a company vehicle in the amount of $
June : Owner took out a small business loan in the amount of $
June : Owner paid rent for June, and prepaid office rent for a month period to cover July
through December at $ per month.
June : Owner paid business license fees in the amount of $ to the county.
June : Owner ordered office supplies, on account, in the amount of $
June : Owner performed service for client on account in the amount of $
June : Owner provided service for client in the amount of $ Customer paid $ at
time of service. Client will be billed for the balance due.
June : Owner paid $ in advertising costs to the local paper.
June : Owner recorded wages due to the parttime employee in the amount of $ This
will be paid on June
June : Owner prepaid business insurance to cover July through December at the rate of
$ per month.
June : Owner paid wages due to parttime employee from period ending June
June : Owner paid for plumbing repairs in the office in the amount of $
June : Owner withdrew $ cash for personal use.
June : Customer paid balance due from June service in the amount of $
June : Owner provided service to client in the amount of $ Client paid at time of
service.
June : Owner paid balance due for office supplies purchase on June
June : Owner performed service for client on account in the amount of $
June : Owner received telephone bill for month of June in the amount of $ and
recorded the expense. This bill will not be paid until July.
June : Last day of pay period; owner owes parttime worker $ for the June through
June pay period. This will be paid on July
please fill out the provided templates for the income statement, statement of owner's equity, balance sheet and closing entries. thank you
income should be $
Total Assets should be $
Total debits for closing entries should be $
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