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Using this information: "Maury Wills started an environmental consulting business and during the first month of operations (June 2008) completed the...
Using this information: "Maury Wills started an environmental consulting business and during the first month of operations (June 2008) completed the following transactions:a. Wills began the business with an investment of $25,000 cash and a building valued at $30,000. The business gave Wills the owner’s equity in the firm.b. Purchased office supplies on account, $2,100.c. Paid $18,000 for office furniture.d. Paid employee’s salary, $2,200.e. Performed consulting service on account, $5,100.f. Paid $800 of the account payable created in transaction (b).g. Received a $600 bill for advertising expense that will be paid in the near future.h. Performed consulting service for customers and received cash, $1,600.i. Received cash on account, $1,200.j. Paid the following cash expenses and made a single compound entry:(1) Rent on equipment, $700.(2) Utilities, $400.k. Withdrew $7,500 for personal use.QUESTION:P2-35A Link Back to Chapter 1 (Income Statement, Statement of Owner’s Equity, Balance Sheet). Refer to Problem 2-34A. After completing the trial balance in Problem 2-34A, prepare the following financial statements for Wills Consulting:1. Income statement for the month ended June 30, 2008.2. Statement of owner’s equity for the month ended June 30, 2008.3. Balance sheet at June 30, 2008.
