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Question 6 On June 1, Kimberly Young started Crane Designs Co., a company that provides...

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Accounting

Question 6 On June 1, Kimberly Young started Crane Designs Co., a company that provides craft opportunities, by investing $13,850 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 $7,200 Accounts Receivable 2,800 Advertising Expense 500 Supplies 2,500 Rent Expense 1,400 Equipment 11,000 Gasoline Expense 250 Notes Payable 9,000 Utilities Expense 200 Accounts Payable 1,100 Kimberly made no additional investment in June but withdrew $1,500 in cash for personal use during the month.

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