mike invested $15000 cash & a used truck worth $13500 in exchange for company stock - 30895

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May

1 mike invested $15000 cash & a used truck worth $13500 in exchange for company stock

3 paid $4700 cash to purchase office equipment

7 purchased $860 of supplies on account

12 performed services for cash customer & received $850

15 paid salaries of $675 to office assistant

16 sold the company truck for $13500

18 signed a note payable for $31000 to purchase a new truck

21 performed $3200 of services on account for a hotel chain

27 paid $500 of the amount owed from the 5/7 supply purchase

30 received $2000 on account from credit customer

31 received utility bill for the month of may $480 (bill isn’t due until the 15th of June)

31 paid $1000 dividends to the shareholder, XXXXX XXXXXson

June

1 paid receptionist salary $675

2 paid cash to acquire land for a future office site $15,000

3 moved into a new location & paid 1st month’s rent $1800 for the business

4 performed service for a customer & received $1700 cash

5 received $500 on account

8 purchased $750 of supplies on account

11 billed customers for services performed $3800

13 sold an additional $10000 of stock

16 paid receptionist salary $675

17 received $1350 cash for services performed

18 received $1500 from customer on account

19 paid $325 to be listed in the yellow pages

21 paid $1000 on account

22 purchased office furniture on account $3300

24 paid misc expenses $275

26 billed customers for services provided $1000

28 received $300 from customer on account

30 paid utility bill $745

30 paid receptionist salary $675

30 paid $1800 of dividends

July

1 Paid three months’ rent, $4,500.

4 Performed service for a customer and received cash, $2,100.

9 Received $3,600 from customers for services to be performed later.

12 Purchased $750 of supplies on account.

15 Billed customers for services performed, $2,800.

16 Paid receptionist’s salary, $675.

22 Received $3,100 on account.

25 Paid $2,800 on account.

28 Received $1,200 cash for services performed.

30 Paid $600 of dividends.

Prepare the Income Statement, Statement of Retained Earnings, and Balance Sheet for the three-month period May through July.

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