On June 1, Jennifer Garner started Divine Cosmetics Co, a company that provides individual skin care treatment, by investing RM 26,200 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 |
RM 10,000 |
Notes payable |
RM 13,000 |
|
Account receivable |
4,000 |
Account payable |
1,200 |
|
Service revenue |
5,500 |
Supplies expense |
1,600 |
|
Cosmetics supplies |
2,000 |
Gas and oil expense |
800 |
|
Advertising expense |
500 |
Utilities expense |
300 |
|
Equipment |
25,000 |
Jennifer made no additional investment in June, but withdrew RM 1,700 in cash for personal use during the month.
Instructions
Prepare an income statement and a balance sheet at June 30, 2007.