29 Jun uestion May 1 mike invested $1500
uestion
May 1 mike invested $15000 cash & a used truck worth $13500 in exchange for company stock
3 paid $4700 cash to purchase office equipment
7 purchased $860 of supplies on account
12 performed services for cash customer & received $850
15 paid salaries of $675 to office assistant
16 sold the company truck for $13500
18 signed a note payable for $31000 to purchase a new truck
21 performed $3200 of services on account for a hotel chain
27 paid $500 of the amount owed from the 5/7 supply purchase
30 received $2000 on account from credit customer
31 received utility bill for the month of may $480 (bill isn’t due until the 15th of June)
31 paid $1000 dividends to the shareholder, XXXXX XXXXXson
June
1 paid receptionist salary $675
2 paid cash to acquire land for a future office site $15,000
3 moved into a new location & paid 1st month’s rent $1800 for the business
4 performed service for a customer & received $1700 cash
5 received $500 on account
8 purchased $750 of supplies on account
11 billed customers for services performed $3800
13 sold an additional $10000 of stock
16 paid receptionist salary $675
17 received $1350 cash for services performed
18 received $1500 from customer on account
19 paid $325 to be listed in the yellow pages
21 paid $1000 on account
22 purchased office furniture on account $3300
24 paid misc expenses $275
26 billed customers for services provided $1000
28 received $300 from customer on account
30 paid utility bill $745
30 paid receptionist salary $675
30 paid $1800 of dividends
July
1 Paid three months’ rent, $4,500.
4 Performed service for a customer and received cash, $2,100.
9 Received $3,600 from customers for services to be performed later.
12 Purchased $750 of supplies on account.
15 Billed customers for services performed, $2,800.
16 Paid receptionist’s salary, $675.
22 Received $3,100 on account.
25 Paid $2,800 on account.
28 Received $1,200 cash for services performed.
30 Paid $600 of dividends.
Prepare the Income Statement, Statement of Retained Earnings, and Balance Sheet for the three-month period May through July.
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