On June 1, 2025, Wildhorse Service Co. was started with an initial investment in the company...
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On June 1, 2025, Wildhorse Service Co. was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2025, and the revenues and expenses for the month of June, its first month of operations: Cash Accounts receivable Service revenue Supplies Advertising expense Equipment Common stock $4,960 4,340 7,900 2,291 400 24,800 19,750 Notes payable Accounts payable Supplies expense Maintenance and repairs expense Utilities expense Salaries and wages expense $12,720 840 860 700 200 1,000 During June, the company issued no additional stock but paid dividends of $1,659. On June 1, 2025, Wildhorse Service Co. was started with an initial investment in the company of $19,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2025, and the revenues and expenses for the month of June, its first month of operations: Cash Accounts receivable Service revenue Supplies Advertising expense Equipment Common stock $4,960 4,340 7,900 2,291 400 24,800 19,750 Notes payable Accounts payable Supplies expense Maintenance and repairs expense Utilities expense Salaries and wages expense $12,720 840 860 700 200 1,000 During June, the company issued no additional stock but paid dividends of $1,659.
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Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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