ACC 290 UOP ACC 290 Week 1 Assignment Preparing an Income | Page 2

Accounts receivable 4,000 Accounts payable 500
Service revenue 7,500 Supplies expense 1,000
Supplies 2,400 Maintenance and repairs expense 600
Advertising expense 400 Utilities expense 300
Equipment 26,000 Salaries and wages expense 1,400
Common stock 22,100
In June, the company issues no additional stock but paid
dividends of $1,400.
Prepare an income statement retained earnings statement and
balance sheet analyzing your findings using the questions
below in a total of 1050 words:
• Briefly address whether the company’s first month of
operations was a success.
• Discuss the company’s decision to distribute a dividend.
Use the Excel® spreadsheet to show your work and submit it
with your analysis.
Click the Assignment Files tab to submit your assignment.