Problem 1-03A a1-a3,b1-b2 (Part Level Submission)

Problem 1-03A al-a3,b1-b2 (Part Level Submission) On June 1, Nancy Jackson started Blossom Designs Co., a company that provides craft opportunities, by investing $11,210 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 2,900 1,600 10,000 9,300 1,100 Service Revenue Advertising Expense Rent Expense Gasoline Expense Utilities Expense $7,200 400 1,400 230 180 Nancy made no additional investment in June but withdrew $1,100 in cash for personal use during the month. (al) Your answer is correct. Prepare an income statement for the month of June. BLOSSOM DESIGNS CO. Income Statement For the Month Ended June 30, 2020 T Revenues | Service Revenue - 7,200 T Expenses Rent Expense 1,400 | Advertising Expense T 400 Utilities Expense 180 Gasoline Expense 1 230 T Total Expenses 2,210 T Net Income / (Loss) A 4,990 Click if you would like to Show Work for this question: Open Show Work (a2) Prepare an owner's equity statement for the month of June. (List items that increase owner's equity first.) BLOSSOM DESIGNS CO. Owner's Equity Statement For the Month Ended June 30, 2020 Owner's Capital, June 1 Add : Investments Net Income / (Loss) Less . Drawings Owner's Capital, June 302 Click if you would like to Show Work for this question: Open Show Work