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drawing expenses net income/ loss Owner captial june 1 or june 30 revenues total expenses total revenues investment

be specific because there are options such as long term investment, current assets or non current etc 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.

Cash $11,000 Service Revenue $6,400 Accounts Receivable 3,200 Advertising Expense 500 Supplies 2,200 Rent Expense 1,400 Equipment 11,000 Gasoline Expense 240 Notes Payable 8,800 Utilities Expense 190 Accounts Payable 1,400.

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 $ 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 V Click if you would like to Show Work for this question: Open Show Work