Title: ACC 300 Week 2 Problem Set 1 Sample content: Problem Set 1 ACC/300 (Chapter 1 – P1-3A) On June 1, Beardsley Service Co. was established by using the primary investment in the corporation amounting to $22,100 cash. The assets and liabilities of the company last June 30 is listed and the revenues and expenses for the month of June, the first month of their enterprise. Cash $ 4,600 Notes payable $12,000 Accounts receivable 4,000 Accounts payable 500 Service revenue 7,500 Supplies expense 1,000 Supplies 2,400 Maintenance and repairs expense 600 Advertising expense 400 Utilities expense 300 Equipment 26,000 Salaries and wages expense 1,400 The corporation did not order any more stocks yet still paid dividends amounting $1,400. Create a retained earnings statement, income statement and a balance sheet; explain the results. (SO 4, 5),

1. ACC 300 Week 2 Problem Set 1
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2. ACC 300 Week 2 Problem Set 1
Sample content:
Problem Set 1 ACC/300 (Chapter 1 – P1-3A) On June 1, Beardsley
Service Co. was established by using the primary investment in the corporation
amounting to $22,100 cash. The assets and liabilities of the company last June 30
is listed and the revenues and expenses for the month of June, the first month of
their enterprise. Cash
$ 4,600
Notes payable
$12,000
Accounts receivable
4,000
Accounts payable
500
Service revenue
7,500
Supplies expense
1,000
Supplies
2,400

3. Maintenance and repairs expense
600
Advertising expense
400
Utilities expense
300
Equipment
26,000
Salaries and wages expense
1,400
The corporation did not order any more stocks yet still paid dividends amounting
$1,400. Create a retained earnings statement, income statement and a balance
sheet; explain the results. (SO 4, 5),
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