Question: Current Attempt in Progress Nancy Allen started a delivery service, Allen Deliveries, on June 1, 2027. The following transactions occurred during the month of June.



Nancy Allen started a delivery service, Allen Deliveries, on June 1, 2027. The following transactions occurred during the month of June. June Stockholders invested $12,400 cash in the business in exchange for common stock. 2. Purchased a used van for deliveries for $17,360. Nancy paid $2,480 cash and signed a note payable for the remaining balance. 3 Paid $620 for office rent for the month. 5 Performed \$\$,952 of services for customer on account. 9. Declared and paid $372 in cash dividends. 12 Purchased supplies for $186 on account. 15 Received a cash payment of $1,550 for services performed on June 5 . 17 Purchased gasoline for $124 on account. 20 Performed services for customer for $1,860 cash. 23 Made a cash payment of $620 on the note payable. 26 Paid $310 for utilities, 29 Paid for the gasoline purchased on account on June 17. 30 Paid $1,240 for employee sataries. Question 3 of 3 (b1) Prepare an income statement for the month of June. ALLEN DELIVERIES Income Statement For the Month Ended June 30, 2027 Revenues Service Revenue $ 12400 Expenses Salaries and Wages Expense $ 2294 Insurance Expense 620 Supplies Expense Rent Expense Total Expenses Net Income / (Losis)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
