FINANCIAL ACCOUNTING:TOOLS FOR BUSINESS
19th Edition
ISBN: 9781119493624
Author: Kimmel
Publisher: WILEY
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On June 1, 2025, Oriole Service Co. was started with an initial investment in the company of $31,500 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.
$5,470
4,280
8,400
2,398
400
37,400
31.500
Notes payable
Accounts payable
Supplies expense
Maintenance and repairs expense
Utilities expense
Salaries and wages expense
$13,740
780
860
670
230
1,200
Please see the info below. They are all part of the same question. I need this asap please and thank you. It requires an income statment for the month of june, a retained earnings statement for the month of june, and a balance sheet for June 30, 2017. Please include the correct terminology.
On June 1, 2017, Swifty Corporation was started with an initial investment in the company of $22,350 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
$ 5,070
Notes payable
$12,940
Accounts receivable
4,150
Accounts payable
650
Service revenue
7,970
Supplies expense
1,100
Supplies
2,300
Maintenance and repairs expense
700
Advertising expense
400
Utilities expense
200
Equipment
26,470
Salaries and wages expense
1,870
Common stock
22,350
In June, the company issued no additional stock…
After all revenue and expense accounts have been closed at the end of
the fiscal year on 31 March 2021 at Zuhoor Muscat Company, Income
Summary has a debit of RO 193,400 and a credit of RO 258,600. At the
same date, Share Capital has a credit balance of RO 300,000, and
Dividends has a balance of RO 25,000. The total equity at the end of
the period is:
a.
RO 401,752
b. RO 363,250
C.
RO 348,100
d. None of the options are correct
e.
RO 340,200
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