Nancy Tercek started a delivery service, Wildhorse Co., on June 1, 2022. The following transactions occurred during the month of June. June 1 2 3 5 9 12 15 17 20 23 26 29 30 Stockholders invested $19,200 cash in the business in exchange for common stock. Purchased a used van for deliveries for $14,100. Nancy paid $3,800 cash and signed a note payable for the remaining balance. Paid $500 for office rent for the month. Performed $4,500 of services on account. Declared and paid $200 in cash dividends. Purchased supplies for $200 on account. Received a cash payment of $1,100 for services performed on June 5. Purchased gasoline for $300 on account. Received $1,300 cash for services performed. Made a cash payment of $800 on the note payable. Paid $250 for utilities. Paid for the gasoline purchased on account on June 17. Paid $2,270 for employee salaries. Prepare a balance sheet at June 30, 2022. (List Assets in order of liquidity.) Wildhorse Co. Balance Sheet For the Month Ended June 30, 2022 June 30, 2022 For the Year Ended June 30, 2022 $ $

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Nancy Tercek started a delivery service, Wildhorse Co., on June 1, 2022. The following transactions occurred during the month of
June.
June
1
2
3
5
9
12
15
17
20
23
26
29
30
Stockholders invested $19,200 cash in the business in exchange for common stock.
Purchased a used van for deliveries for $14,100. Nancy paid $3,800 cash and signed a note payable for the remaining
balance.
Paid $500 for office rent for the month.
Performed $4,500 of services on account.
Declared and paid $200 in cash dividends.
Purchased supplies for $200 on account.
Received a cash payment of $1,100 for services performed on June 5.
Purchased gasoline for $300 on account.
Received $1,300 cash for services performed.
Made a cash payment of $800 on the note payable.
Paid $250 for utilities.
Paid for the gasoline purchased on account on June 17.
Paid $2,270 for employee salaries.
Prepare a balance sheet at June 30, 2022. (List Assets in order of liquidity.)
eTextbook and Media
Wildhorse Co.
Balance Sheet
For the Month Ended June 30, 2022
June 30, 2022
For the Year Ended June 30, 2022
Liabilities and Stockholders' Equity
Liabilities and Stockholders' Equity
$
$
$
$
$
$
Transcribed Image Text:Nancy Tercek started a delivery service, Wildhorse Co., on June 1, 2022. The following transactions occurred during the month of June. June 1 2 3 5 9 12 15 17 20 23 26 29 30 Stockholders invested $19,200 cash in the business in exchange for common stock. Purchased a used van for deliveries for $14,100. Nancy paid $3,800 cash and signed a note payable for the remaining balance. Paid $500 for office rent for the month. Performed $4,500 of services on account. Declared and paid $200 in cash dividends. Purchased supplies for $200 on account. Received a cash payment of $1,100 for services performed on June 5. Purchased gasoline for $300 on account. Received $1,300 cash for services performed. Made a cash payment of $800 on the note payable. Paid $250 for utilities. Paid for the gasoline purchased on account on June 17. Paid $2,270 for employee salaries. Prepare a balance sheet at June 30, 2022. (List Assets in order of liquidity.) eTextbook and Media Wildhorse Co. Balance Sheet For the Month Ended June 30, 2022 June 30, 2022 For the Year Ended June 30, 2022 Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ $ $ $ $ $
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