Weus Return to Blackboard Kimmel, Survey of Accounting, le CALCULATOR PRINTER VERSION BACK Problem 3-7 Nancy Tercek started in delivery service, Whispering Winds Deliveries, on June 1, 2017. The following transactions occurred during the month of June. June 1 Stockholders invested 517,900 cash in the business in exchange for common stock. ? Purchased a used van for deliveries for $34,600. Nancy paid $3,900 cath and signed a note payable for the remaining balance 3 Paid $300 for office rent for the month 5 Performed $5,000 of services on account 9 Declared and paid $200 in cash dividends. 12 Purchased supplies for $100 on account 15 Received a cash payment of $1,500 for services performed on June 5 Purchased gasoline for $200 on account 20 Received a cash payment of $1,600 for services performed 23 Made a cash payment of $400 on the note payable 26 Paid $100 for utilities 29 Paid for the gasoline purchased on account on June 17 30 Paid $2,490 for employee salaries 17 Show the effects of the previous transactions on the accounting equation using the following format. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity (or parentheses) in front of the amount entered for the particular Asset Liability or Equity item that was reduced.) WHISPERING WINDS DELIVERIES Assets Liabilities Stockholders' Equity Retained Earnings Accounts Notes Accounts Common Date Cash Receivable Supplies Equipment Payable Payable Stock Revenues Expenses Dividends + June 1 $ $ Hencements CALDILATOR PRINTEN VERSION BACK for perusthene) in front of the amount entered for the particular Anret Liity or Equity Item that was reduced.) WHISPERING WINDS DELIVERIES TUR Stocholteret Retained Earnings Account Notes Payable Account Payable Date Supplies Common Stock Cash Receivable- Equipment Revenue pantes Dividende June 1 2 3 Rent expense Service reven 5 Dividende 12 15 17 Casone per 20 26 29 Sales and 30 ACUT Return to Blackboard eyPLUS Kimmel, Survey of Accounting, le Help System Announcements IT RESOURCES lament 1 Prepare an income statement for the month of June. WHISPERING WINDS DELIVERIES Income Statement re ults by Study SHOW LIST OF ACCOUNTS LINK TO TEXT URCES ent 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Study Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.) WHISPERING WINDS DELIVERIES Retained Earnings Statement $ SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare a classified balance sheet at June 30, 2017. (List Current Assets in order of liquidity Kimmel, Survey of Accounting, le LUS H suntem Announcements CALCULATOR PRENTER VERSTO CUTERIOR GEWER RCES WHISPERING WINDS DELIVERIES Balance Sheet Assets Labilities and Stockholders' Equity $ + MacBook Air