Problem $1-7$B Analyzing transactions and preparing financial statements P$1$ P$2$

Nina Niko launched a new business, Niko's Maintenance Co$.,$ that began operations on June $1.$ The following transactions were completed by the company during that first month.

June $1$ Nina Niko invested $$130,000$ cash in the company in exchange for its common stock.

$2$ The company rented a furnished office and paid $$6,000$ cash for June's rent.

$4$ The company purchased $$2,400$ of equipment on credit.

$6$ The company paid $$1,150$ cash for this month's advertising of the opening of the business.

$8$ The company completed maintenance services for a customer and immediately collected $$850$ cash.

$14$ The company completed $$7,500$ of maintenance services for City Center on credit.

$16$ The company paid $$800$ cash for an assistant's salary for the first half of the month.

$20$ The company received $$7,500$ cash payment for services completed for City Center on June $14.$

$21$ The company completed $$7,900$ of maintenance services for Paula's Beauty Shop on credit.

$24$ The company completed $$675$ of maintenance services for Build$-$It Coop on credit.

$25$ The company received $$7,900$ cash payment from Paula's Beauty Shop for the work completed on June $21.$

$26$ The company made payment of $$2,400$ cash for equipment purchased on June $4.$

$28$ The company paid $$800$ cash for an assistant's salary for the second half of this month.

$29$ The company paid $$4,000$ cash in dividends to the owner $($sole shareholder$).$

$30$ The company paid $$150$ cash for this month's telephone bill.

$30$ The company paid $$890$ cash for this month's utilities.

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Spotify

Google Calender

Canvas

Lion Path

Quizlet

Detection of Latent...

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Common $f$

$27$ of $906$

$30$ The company paid $$150$ cash for this month's telephone bill.

$30$ The company paid $$890$ cash for this month's utilities.

Page

Create the following table similar to Exhibit $1\mathrm{.}9.$ Enter the effects of each transaction on the accounts of the accounting equation by recording dollar increases and decreases in the appropriate columns. Determine the final total for each account and verify that the equation is in balance.

Check

$(1)$ Ending balances: Cash, $$130,060$; Expenses, $$9,790$

$2.$ Prepare the income statement and the statement of retained earnings for the month of June, and the balance sheet as of June $30.$

$(2)$ Net income, $$7,135$; Total assets, $$133,135$

$3.$ Prepare the statement of cash flows for the month of June.

P $1$ P $2$

Gabi Gram started The Gram Company, a new business that began operations on May $1.$ The Gram Company completed

the following transactions during its first month of operations.

May $1$ G$.$ Gram invested $$40,000$ cash in the company in exchange for its common stock.

May $1$ The company rented a furnished office and paid $$2,200$ cash for May's rent.

May $3$ The company purchased $$1,890$ of equipment on credit.

May $5$ The company paid $$750$ cash for this month's cleaning services.

May $8$ The company provided consulting services for a client and immediately collected $$5,400$ cash.

May $12$ The company provided $$2,500$ of consulting services for a client on credit.

May $15$ The company paid $$750$ cash for an assistant's salary for the first half of this month.

May $20$ The company received $$2,500$ cash payment for the services provided on May $12.$

May $22$ The company provided $$3,200$ of consulting services on credit.

May $25$ The company received $$3,200$ cash payment for the services provided on May $22.$

May $26$ The company paid $$1,890$ cash for the equipment purchased on May $3.$

May $27$ The company purchased $$80$ of equipment on credit.

May $28$ The company paid $$750$ cash for an assistant's salary for the second half of this month.

May $30$ The company paid $$300$ cash for this month's telephone bill.

May $30$ The company paid $$280$ cash for this month's utilities.

May $31$ The company paid $$1,400$ cash in di