Donald started Donald Designers and invested $25,000 into the business on June 1, 2015. He rendered services to three clients on account with total revenues earned of $9,000. He then incurred advertising expense on four different websites and promised to pay a total of $1,200 at a later date. On June 13, he purchased $1,000 of office supplies for cash. On June 22, he received $2,000 in cash payment from his first client and deposited it into the business account. On June 23, he incurred $1,300 for legal expense and paid cash. On June 30, he made a payment of $500 to one of the websites that he owed for advertising provided earlier in the month. No withdrawals were made during the month. For the month of June, prepare an income statement, a statement of owner's equity, and a balance sheet.

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The Answer of Donald started Donald Designers and invested $25,000 into the business on June 1, 2015. He rendered services to three clients on account with total revenues earned of $9,000. He then incurred advertising expense on four different websites and promised to pay a total of $1,200 at a later date. On June 13, he purchased $1,000 of office supplies for cash. On June 22, he received $2,000 in cash payment from his first client and deposited it into the business account. On June 23, he incurred $1,300 for legal expense and paid cash. On June 30, he made a payment of $500 to one of the websites that he owed for advertising provided earlier in the month. No withdrawals were made during the month. For the month of June, prepare an income statement, a statement of owner's equity, and a balance sheet.

Donald Started Donald Designers and Invested $25,000 into the Business