contestada

June

1 Stockholders invested $8,800 cash in the business in exchange for common stock.
2 Purchased a used van for deliveries for $12,320. Nancy paid $1,760 cash and signed a note payable for the remaining balance.
3 Paid $440 for office rent for the month. 5 Performed $4,224 of services for customer on account. 9 Declared and paid $264 in cash dividends.
12 Purchased supplies for $132 on account. 15 Received a cash payment of $1,100 for services performed on June 5.
17 Purchased gasoline for $88 on account. 20 Performed services for customer for $1,320 cash.
23 Made a cash payment of $440 on the note payable. 26 Paid $220 for utilities.
29 Paid for the gasoline purchased on account on June 17.
30 Paid $880 for employee salaries.

Required:
Prepare an income statement for the month of June.

Respuesta :

Answer:

........................Income Statement for the month of June...............................

Service Revenue.....................................................................$5,544

Less Expenses

Rent Expense .................................................$440

Utilities Expense.............................................$220

Salaries and Wages Expense......................$880

Gasoline Expense...........................................$88

Total Expenses .........................................................................($‭1,628‬)

Net Income (Loss).............................................................$‭3,916‬

Service revenue = Services performed on the 5th + Services performed on the 20th

= 4,224 + 1,320

= $5,544