X Company started business on June 1 and prepares monthly financial statements. The following were...
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X Company started business on June 1 and prepares monthly financial statements. The following were June transactions: 1. received 849,000 from a group of investors 2. bought $8,029 of merchandise, $3,153 for cash and $4,876 on account 3. sales were $40,900, of which $35,975 were for cash and $4,925 were on account: Cost of Goods Sold was $21.268 4. paid $3,975 to suppliers for merchandise previously bought on account 5. collected $2,949 from customers on account 6. paid expenses totalling $8,174 8 pt 4. What were total assets on June 30? 4. AO $18,053 BO $54,300 CO $61,359 DO 869,336 EO 878,349 FO 588,635 8 pt 5. What was Net Income in June? 5. AO $7.911 BO $8,973 CO $10,140 DO $11,458 EO $12,918 FO $14,631
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