Problem 1-3A

On June 1, 2017, Windsor, Inc. was started with an initial investment in the company of $22,420 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations:

Cash		$ 4,830		Notes payable		$12,460
Accounts receivable		4,470		Accounts payable		970
Service revenue		7,730		Supplies expense		1,100
Supplies		2,300		Maintenance and repairs expense		700
Advertising expense		400		Utilities expense		200
Equipment		26,230		Salaries and wages expense		1,630
Common stock		22,420

In June, the company issued no additional stock but paid dividends of $1,720.

Prepare an income statement for the month of June.

Windsor, Inc. Income Statement choose the accounting period For the Month Ended June 30, 2017For the Year Ended June 30, 2017June 30, 2017
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues
enter an income statement item		$enter a dollar amount
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues
enter an income statement item	$enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
select a closing name for section two Dividends Expenses Net Income / (Loss) Retained Earnings, June 1 Retained Earnings, June 30 Revenues Total Expenses Total Revenues		enter a subtotal amount for section two
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues		$enter a total net income or loss amount

SHOW LIST OF ACCOUNTS

Prepare a retained earnings statement for the month of June. (List items that increase retained earnings first.)

Windsor, Inc. Retained Earnings Statement choose the accounting period June 30, 2017For the Month Ended June 30, 2017For the Year Ended June 30, 2017
select an opening name DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues	$enter a dollar amount
select between addition and deduction AddLess : select an item DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues	enter a dollar amount
	enter a subtotal of the two previous amounts
select between addition and deduction AddLess : select an item DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues	enter a dollar amount
select a closing name DividendsExpensesNet Income / (Loss)Retained Earnings, June 1Retained Earnings, June 30RevenuesTotal ExpensesTotal Revenues	$enter a total amount

SHOW LIST OF ACCOUNTS

Prepare a balance sheet at June 30, 2017. (List assets in order of liquidity.)

Windsor, Inc. Balance Sheet enter an accounting period June 30, 2017For the Month Ended June 30, 2017For the Year Ended June 30, 2017
Assets
enter a balance sheet item					$enter a dollar amount
enter a balance sheet item					enter a dollar amount
enter a balance sheet item					enter a dollar amount
enter a balance sheet item					enter a dollar amount
select a closing name for the first part of the balance sheet Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a total amount for the first part of the balance sheet
Liabilities and Stockholders' Equity
select an opening name for section one Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			$enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for section one Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a subtotal of the two previous amounts
select an opening name for section two Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for section two Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					enter a subtotal of the two previous amounts
select a closing name for the second part of the balance sheet Current AssetsLiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a total amount for the second part of balance sheet