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  1. business
  2. accounting
  3. prepar the income statement and retained earnings

prepar the income statement and retained earnings During June 2020, the business completed...

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prepar the income statement and retained earnings

During June 2020, the business completed these transactions: a. Received cash of $5,000, and issued common shares. b. Performed services for a client, and received cash of $7,600. c. Paid $4,000 on accounts payable. d. Purchased supplies on account, $1,500. e. Collected cash from a customer on account, $1,000. f. Consulted on the design of a business report, and billed the client for services rendered, $2,500. g. Recorded the following business expenses for the month: paid office rent, $900; paid advertising, $300. h. Declared and paid a cash dividend of $2,000

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