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On June 1, 20X1, Global Services, Inc Prepare a Statement of Earnings for the Month Ended June

Question 125

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On June 1, 20X1, Global Services, Inc., was started with $50,000 invested by the owners as share capital. On June 30, the accounting records contained the following amounts:  Trade payables $100 Trade receivables 3,900 Cash 25,100 Share capital 50,000 Consulting fees earned 8,400 Dividends declared 2,100 Office equipment 24,100 Office supplies 500 Rent expense 1,300 Salary expense 1,000 Supplies expense 100 Telephone expense 500\begin{array} { | l | r | } \hline \text { Trade payables } & \$ 100 \\\hline \text { Trade receivables } & 3,900 \\\hline \text { Cash } & 25,100 \\\hline \text { Share capital } & 50,000 \\\hline \text { Consulting fees earned } & 8,400 \\\hline \text { Dividends declared } & 2,100 \\\hline \text { Office equipment } & 24,100 \\\hline \text { Office supplies } & 500 \\\hline \text { Rent expense } & 1,300 \\\hline \text { Salary expense } & 1,000 \\\hline \text { Supplies expense } & 100 \\\hline \text { Telephone expense } & 500 \\\hline\end{array} Prepare a statement of earnings for the month ended June 30, 20X1.

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Global Services, Inc.
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