Question

On June 1, 2022. Carla Vista Co was started with an initial investment in the company of $20,160 cash Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations Canh $5450 Notes payable $13.700 Accounts receivable 4270 Accounts payable Service revenue 8.400 Supplies expense Supplies 2.438 Maintenance and repairs expense 650 Advertising experie 400 Uutis expense Equipment 26,000 Salaries and wages Expense 1.100 Common stock 20.160 During June, the company issued no additional stock but pald dividends of $1512

Answer 1

Solution:

Carla Vista Company
Income Statement
for the year ended June 30, 2022
Particulars		Amount
Revenues:
Service revenue		$8,400.00
Expenses:
Advertising expense	$400.00
Supplies expense	$960.00
Maintenance and repairs expense	$650.00
Utilities expense	$250.00
Salaries and wages expense	$1,100.00
Total expenses		$3,360.00
Net income		$5,040.00