Question: On June 1, 2021, Ayayai Corp. was formed. Its assets, liabilities, share capital, revenues, expenses, and dividends as at June 30 follow: Cash Accounts


On June 1, 2021, Ayayai Corp. was formed. Its assets, liabilities, share

capital, revenues, expenses, and dividends as at June 30 follow: Cash Accounts  

On June 1, 2021, Ayayai Corp. was formed. Its assets, liabilities, share capital, revenues, expenses, and dividends as at June 30 follow: Cash Accounts receivable Accounts payable Bank loan payable Common shares Dividends declared Service revenue Supplies expense $18,600 11,160 9,052 28,520 44,640 1,240 30,008 2,604 Supplies Equipment Interest expense Office expense Utilities expense Income tax expense Salaries expense $1,488 64,480 992 1,860 1,860 868 7,068 Prepare a statement of income for the month of June. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) AYAYAI CORP. Statement of Income $ INT $

Step by Step Solution

3.50 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!