Lisa and Ruby two friends from high school, incorporated their design company and began operation...
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Accounting
Lisa and Ruby two friends from high school, incorporated their design company and began operation on October 1, 2023. During that first month of operation, the company provided services for clients. It is now October 31, 2023, and Lisa and Ruby are wondering how their company performed in its first month of operations. They have provided you with the following information
Accounts payable 1,800
Accounts receivable 2,000
Cash balance at June 1, 2023 0
Cash balance at June 30, 2023 33,300
Common shares 50,000
Land 18,000
Office supplies 3,700
Payment of cash dividends 2,100
Rent expense 1,100
Retained earnings at June 1, 2023 0
Retained earnings at June 30, 2023 ??
Salaries and wages expense 1,200
Service revenue 10,000
Utilities expense 400
a) Prepare an income statement for the month of June for this company.
b)Prepare a statement of retained earnings for the month of June for this company.
c)Prepare a balance sheet as at October 31, 2023 for this company.
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