I need help preparing an income statement, retained earnings statement, and balance sheet for the following in excel;
On June 1, 2017, Elite Service Co. was started with an initial investment in the company of 22,100 cash. Below are the assets, liabilities, and common stock of the company June 30,2017, and the revenues and expenses for the month of June, its first month of operations;
cash / $4600 / notes payable / $12,000
Accounts receivable/ 4,000/ accounts payable / 500
Service revenue/ 7,500 / supplies expense / 1,000
Supplies/ 2,400/ Maintenance and repairs expense/ 600
Advertising expense/ 400/ Utilities expense / 300
Equipment/ 26,000/ salaries and wages expense/ 1,400
Common Stock / 22,100
In June the company issues no additional stock but paid dividends of $1,400
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I need to address whether the company's first month of operations was a success and the discuss the company's decision to distribute a dividend
Answers
Status NEW
Posted 20 Jun 2017 06:06 AM
My Price 8.00
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