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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 05 Aug 2017 My Price 6.00

Crazy Creations Co

Problem 1-3A

On June 1, Tamara Eder started Crazy Creations Co., a company that provides craft opportunities, by investing $13,630 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   $ 10,680   Notes Payable   $8,530
Accounts Receivable   3,260   Accounts Payable   1,160
Equipment   10,430   Rent Expense   1,350
Supplies   2,040   Gasoline Expense   190
Service Revenue   6,830   Utilities Expense   170
Advertising Expense   600        


Tamara made no additional investment in June but withdrew $1,430 in cash for personal use during the month.

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Prepare an income statement for the month of June.

 

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Maurice Tutor
(5)
Status NEW Posted 05 Aug 2017 09:08 PM My Price 6.00

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