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May 1 mike invested $15000 cash & a used truck worth $13500 in exchange for company




Question;May 1 mike invested $15000 cash & a used truck worth $13500 in exchange for company stock3 paid $4700 cash to purchase office equipment7 purchased $860 of supplies on account12 performed services for cash customer & received $85015 paid salaries of $675 to office assistant16 sold the company truck for $1350018 signed a note payable for $31000 to purchase a new truck21 performed $3200 of services on account for a hotel chain27 paid $500 of the amount owed from the 5/7 supply purchase30 received $2000 on account from credit customer31 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 XXXXXsonJune1 paid receptionist salary $6752 paid cash to acquire land for a future office site $15,0003 moved into a new location & paid 1st month's rent $1800 for the business4 performed service for a customer & received $1700 cash5 received $500 on account8 purchased $750 of supplies on account11 billed customers for services performed $380013 sold an additional $10000 of stock16 paid receptionist salary $67517 received $1350 cash for services performed18 received $1500 from customer on account19 paid $325 to be listed in the yellow pages21 paid $1000 on account22 purchased office furniture on account $330024 paid misc expenses $27526 billed customers for services provided $100028 received $300 from customer on account30 paid utility bill $74530 paid receptionist salary $67530 paid $1800 of dividendsJuly 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.


Paper#45315 | Written in 18-Jul-2015

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