[Woollymyers911]

Prepare a statement of retained earnings and a income statement for the month of June. Also prepare a balance sheet at June 30. The first month of operation are as follows:

On June 1, 2015, the Corporation received $25,000 cash from its stockholders and gave common stock to the stockholders.

The company rendered services to three clients on account with total revenues earned of $9,000.

It then incurred advertising expense on four different websites and promised to pay a total of $1,200 at a later date.

On June 13, 2015 the corporation purchased $1,000of office supplies for cash. (The supplies are not used by June 30)

On June 22, it received $2,000 on account from his client and deposited it into the business account.

On June 23, it incurred $1,300 for legal expense and paid cash.

On June 30, the corporation made a payment of $500 to one of the websites that it owed for advertising provided earlier in the month.

No dividends were given during the month.

[smoothy]

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