On June 1, 2022, Carla Vista Co

Economics Oct 09, 2020

On June 1, 2022, Carla Vista Co. was started with an initial investment in the company of $23,700 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations:

Cash$ 5,060 Notes payable$12,920Accounts receivable4,250Accounts payable750Service revenue7,900Supplies expense860Supplies2,341Maintenance and repairs expense700Advertising expense400Utilities expense200Equipment28,800Salaries and wages expense1,000Common stock23,700 During June, the company issued no additional stock but paid dividends of $1,659.

Prepare:

Income statement

Retained earning statement

Balance sheet

Expert Solution

PFA

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