Business, 23.05.2020 20:58 girlydiy17

If an amount box does not require an entry, leave it blank.

a. In the T accounts, record the following transactions of Potter Pool Services for June, identifying each entry by number:

Potter invested $12,500 cash in the business.
Purchased supplies on account, $6,250.
Paid operating expenses, $5,500.
Billed clients for fees, $7,440.
Received cash from cash clients, $4,700.
Paid creditors on account, $1,400.
Received $3,100 from clients on account.
Withdrew $1,500 cash for personal use.

b. Prepare a trial balance as of June 30 for Potter Pool Servcies.

c. Assuming that supplies expense (which has not been recorded) amounts to $1,500 for June. determine the following:

(1) Net income for the month
(2) Stockholders' equity as of June 30.

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If an amount box does not require an entry, leave it blank.

a. In the T accounts, recor...

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