On June 1, Helen Martin started Ivanhoe Designs Co., a company that provides craft opportunities, by...

 

  

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On June 1, Helen Martin started Ivanhoe Designs Co., a company that provides craft opportunities, by investing $12,810 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable $11,000 3,200 1,600 Rent Expense 10,000 Gasoline Expense Utilities Expense 8,900 1,200 Service Revenue Advertising Expense $6,400 600 1,400 180 130 Helen made no additional investment in June but withdrew $1,200 in cash for personal use during the month. Prepare an income statement for the month of June. IVANHOE DESIGNS CO. Income Statement Activate Windows LINK TO TEXT Prepare an owner s equity statement for the month of June. (List items that increase owner s equity first.) IVANHOE DESIGNS CO. Owner s Equity Statement LINK TO TEXT LINK TO TEXT Prepare a balance sheet at June 30, 2020. (List Assets in order of liquidity.) IVANHOE DESIGNS CO. Balance Sheet LINK TO TEXT Assets Liabilities and Owner s Equity $ Activate Windows Go to Settings to activate Windows LINK TO TEXT CALCULATOR LINK TO TEXT PRINTER VERSION 1 BACK Prepare an income statement for June assuming the following data are not included above: (1) $900 of services were performed and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. IVANHOE DESIGNS CO. Income Statement NEXT Weygandt, Accounting Principles, 13e Help | System Announcements LINK TO TEXT Prepare an owner s equity statement for June assuming the following data are not included above: (1) $900 of revenue was earned and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. (List items that increase owner s equity first.) IVANHOE DESIGNS CO. Owner s Equity Statement LINK TO TEXT $ $ Click if you would like to Show Work for this question: Open Show Work CALCULATOR PRINTER VERSION 4 BACK NEXT Activate Windows Go to Settings to activate Windows SAVE FOR LATER SUBMIT ANSWER Question Attempts: Unlimited On June 1, Helen Martin started Ivanhoe Designs Co., a company that provides craft opportunities, by investing $12,810 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. Cash Accounts Receivable Supplies Equipment Notes Payable Accounts Payable $11,000 3,200 1,600 Rent Expense 10,000 Gasoline Expense Utilities Expense 8,900 1,200 Service Revenue Advertising Expense $6,400 600 1,400 180 130 Helen made no additional investment in June but withdrew $1,200 in cash for personal use during the month. Prepare an income statement for the month of June. IVANHOE DESIGNS CO. Income Statement Activate Windows LINK TO TEXT Prepare an owner s equity statement for the month of June. (List items that increase owner s equity first.) IVANHOE DESIGNS CO. Owner s Equity Statement LINK TO TEXT LINK TO TEXT Prepare a balance sheet at June 30, 2020. (List Assets in order of liquidity.) IVANHOE DESIGNS CO. Balance Sheet LINK TO TEXT Assets Liabilities and Owner s Equity $ Activate Windows Go to Settings to activate Windows LINK TO TEXT CALCULATOR LINK TO TEXT PRINTER VERSION 1 BACK Prepare an income statement for June assuming the following data are not included above: (1) $900 of services were performed and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. IVANHOE DESIGNS CO. Income Statement NEXT Weygandt, Accounting Principles, 13e Help | System Announcements LINK TO TEXT Prepare an owner s equity statement for June assuming the following data are not included above: (1) $900 of revenue was earned and billed but not collected at June 30, and (2) $200 of gasoline expense was incurred but not paid. (List items that increase owner s equity first.) IVANHOE DESIGNS CO. Owner s Equity Statement LINK TO TEXT $ $ Click if you would like to Show Work for this question: Open Show Work CALCULATOR PRINTER VERSION 4 BACK NEXT Activate Windows Go to Settings to activate Windows SAVE FOR LATER SUBMIT ANSWER Question Attempts: Unlimited