Scribd Logo
Upload

Welcome to Scribd!

  • 284 views

    Assignment 1

    Uploaded by

    Bishoy Emile
    Mark Miller started a delivery service called Miller Deliveries on June 1, 2010. He invested $10,000 cash and purchased a used van for $12,000 by paying $2,000 cash and financing the remaining $10,000. Throughout the month, the business provided delivery services, paid expenses, and received cash payments from customers. By June 30, the business had generated $2,750 in net income over its first month of operations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Assignment 1

    Uploaded by

    Bishoy Emile
    284 views1 page
    Mark Miller started a delivery service called Miller Deliveries on June 1, 2010. He invested $10,000 cash and purchased a used van for $12,000 by paying $2,000 cash and financing the remaining $10,000. Throughout the month, the business provided delivery services, paid expenses, and received cash payments from customers. By June 30, the business had generated $2,750 in net income over its first month of operations.

    Original Description:

    accounting

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Mark Miller started a delivery service called Miller Deliveries on June 1, 2010. He invested $10,000 cash and purchased a used van for $12,000 by paying $2,000 cash and financing the remaining $10,000. Throughout the month, the business provided delivery services, paid expenses, and received cash payments from customers. By June 30, the business had generated $2,750 in net income over its first month of operations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    284 views1 page

    Assignment 1

    Uploaded by

    Bishoy Emile
    Mark Miller started a delivery service called Miller Deliveries on June 1, 2010. He invested $10,000 cash and purchased a used van for $12,000 by paying $2,000 cash and financing the remaining $10,000. Throughout the month, the business provided delivery services, paid expenses, and received cash payments from customers. By June 30, the business had generated $2,750 in net income over its first month of operations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 1

    Assignment # 1

    Due Date: 4/11/2014 (Tuesday Groups)


    6/11/2014(Thursday Groups)
    Mark Miller started his own delivery service, Miller Deliveries, on June 1, 2010.The following
    transactions occurred during the month of June.
    June 1 Mark invested $10,000 cash in the business.
    2 Purchased a used van for deliveries for $12,000. Mark paid $2,000 cash and signed a note
    payable for the remaining balance.
    3 Paid $500 for office rent for the month.
    5 Performed $4,400 of services on account.
    9 Withdrew $200 cash for personal use.
    12 Purchased supplies for $150 on account.
    15 Received a cash payment of $1,250 for services provided on June 5.
    17 Purchased gasoline for $100 on account.
    20 Received a cash payment of $1,500 for services provided.
    23 Made cash payment of $500 on the note payable.
    26 Paid $250 for utilities.
    29 Paid for the gasoline purchased on account on June 17.
    30 Paid $1,000 for employee salaries.
    Instructions:
    (a) Show the effects of the previous transactions on the accounting equation using the following format.

    (b) Prepare an income statement at June 30, 2010.


    (c) Prepare a balance sheet at June 30, 2010.
    (d) Prepare an owners equity statement at June 30, 2010

    You might also like