Buy here : http :// student . land / products . php ? product = ACC-290-Entir e-Course- % 7B47 % 7D-Everything-Included
Buy here : http :// student . land / products . php ? product = ACC-290-Entir e-Course- % 7B47 % 7D-Everything-Included
Purpose of Assignment The purpose of this assignment is to help students become familiar with the presentation of
the income statement and the retained earnings statement , including how parts of the financial statement is evaluated to determine the operational success of the business .
Assignment Steps
Resources : Financial Accounting : Tools for Business Decision Making p . 36
Scenario : On June 1 , 2017 , Elite Service Co . was started with an initial investment in the company of $ 22,100 cash . Below are the assets , liabilities , and common stock of the company June 30 , 2017 , and the revenues and expenses for the month of June , its first month of operations :
Cash $ 4,600
Notes payable $ 12,00 0
Accounts receivable
4,000 Accounts payable 500
Service revenue 7,500 Supplies expense 1,000