Resources: Financial Accounting: Tools for Business Accommodation Making, p. 36
Scenario: On June 1, 2017, Elite Service Co. was started with an antecedent advance in the aggregation of $22,100 cash. Beneath are the assets, liabilities, and accepted banal of the aggregation June 30, 2017, and the revenues and costs for the ages of June, its aboriginal ages of operations:
Cash. $ 4,600
Notes payable. $12,000
Accounts receivable. 4,000
Accounts payable. 500
Service revenue. 7,500
Supplies expense. 1,000
Maintenance and aliment expense. 600
Advertising expense. 400
Utilities expense. 300
Salaries and accomplishment expense. 1,400
Common stock. 22,100
In June, the aggregation issues no added banal but paid assets of $1,400.
Prepare an assets statement, retained antithesis statement, and antithesis area allegory your allegation application the questions below, in a absolute of 1,050 words:
Briefly abode whether the company's aboriginal ages of operations was a success.
Discuss the company's accommodation to administer a dividend.
Use the Excel® spreadsheet to appearance your assignment and abide it with your analysis
Order a unique copy of this paper