On June 1, Tamara Eder started Crazy Creations Co., a company that provides craft opportunities, by investing $12,000 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 ...............$10,150

Accounts Receivable ........ 3,000

Supplies ............. 2,000

Equipment ............ 10,000

Notes Payable ............ 9,000

Accounts Payable ......... 1,200

Service Revenue ........... $6,700

Advertising Expense ........ 500

Rent Expense ........... 1,600

Gasoline Expense ........... 200

Utilities Expense .......... 150

Tamara made no additional investment in June but withdrew $1,300 in cash for personal use during the month.

Instructions

(a) Prepare an income statement and owner’s equity statement for the month of June and a balance sheet at June 30, 2014.

(b) Prepare an income statement and owner’s equity 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) $150 of gasoline expense was incurred but not paid.