Reference no: EM132507896
On June 1, 2021, Heming Company began operations with an initial investment in the company of $19,250 cash. The assets, liabilities, and common stock of the company at June 30, 2021, and the revenues and expenses for the month of June, its first month of operations, are listed below:
Cash $ 4,840 Notes payable $12,480
Accounts receivable 4,270 Accounts payable 770
Service revenue 7,700 Supplies expense 780
Supplies 2,462 Maintenance and repairs expense 610
Advertising expense 400 Utilities expense 290
Equipment 23,700 Salaries and wages expense 1,000
Common stock 19,250
- During June, the company issued no additional stock but paid dividends of $1,848.
Question 1: Draw up a balance sheet at June 30, 2021. (List the assets in order of liquidity.)
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