Resources: Financial Accounting: Tools for Business Firmness Making, p. 36
Scenario: On June 1, 2017, Elite Service Co. was agoing after a while an judicious boarding in the audience of $22,100 money. Under are the property, liabilities, and sordid supply of the audience June 30, 2017, and the fruitss and expenditures for the month of June, its primitive month of operations:
Cash. $ 4,600
Notes payable. $12,000
Accounts receivable. 4,000
Accounts payable. 500
Service fruits. 7,500
Supplies expenditure. 1,000
Maintenance and repairs expenditure. 600
Advertising expenditure. 400
Utilities expenditure. 300
Salaries and allowance expenditure. 1,400
Common supply. 22,100
In June, the audience issues no affixed supply but hired dividends of $1,400.
Prepare an proceeds announcement, retained rights announcement, and counteract shuffle analyzing your findings using the questions under, in a aggregate of 1,050 words:
Briefly discourse whether the audience's primitive month of operations was a victory.
Discuss the audience's firmness to divorce a dividend.
Use the Excel® spreadshuffle to exhibition your product and refer it after a while your analysis