On June 1, Jennifer Davis started Pharoah Designs Co., a company that provides craft opportunities,...
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Accounting
On June 1, Jennifer Davis started Pharoah Designs Co., a company that provides craft opportunities, by investing $13,410 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June.
Cash
$11,000
Service Revenue
$6,000
Accounts Receivable
2,900
Advertising Expense
500
Supplies
2,100
Rent Expense
1,600
Equipment
10,000
Gasoline Expense
180
Notes Payable
9,100
Utilities Expense
130
Accounts Payable
1,300
Jennifer made no additional investment in June but withdrew $1,400 in cash for personal use during the month.
Prepare a balance sheet at June 30, 2020.
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