Nancy tercek started a delivery service, tercek deliveries, on june 1, 2015. the following transactions occurred during the month of june.

show the effects of the previous transactions on the accounting equation using the following format.

a. include margin explanations for any changes in the retained earnings account in your analysis. (check figure: total assets $25,800)

b. prepare an income statement for the month of june. (check figure: net income $4,450)

c. prepare a balance sheet at june 30, 2015. (check figure: cash $8,100)

nancy tercek started a delivery service, tercek deliveries, on june 1, 2015. the following transactions occurred during the month of june.

june  1 stockholders invested $10,000 cash in the business in exchange for common stock.
2 purchased a used van for deliveries for $14,000. nancy paid $2,000 cash and signed a note payable for the remaining balance.
3 paid $500 for office rent for the month.
5 performed $4,800 of services on account.
june  9 declared and paid $300 in cash dividends.
12 purchased supplies for $150 on account.
15 received a cash payment of $1,250 for services performed on june 5.
17 purchased gasoline for $100 on account.
20 received a cash payment of $1,500 for services performed.
23 made a 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.

tercek deliveries
assets = liabilities + stockholders' equity
accounts notes accounts common retained earnings
date cash + receivable + supplies + equipment = payable + payable + stock + revenues - expenses - dividends
june 1 $10,000 $1,000
2 14000 12000 2000
3
5
9