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PDtax, Master's Degree
Category: Business and Finance Homework
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Experience:  MBA/CPA, Former college instructor and tutor.
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AndrewChalmers operates a roofing and siding company called

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AndrewChalmers operates a roofing and siding company called Chalmers Roofing Services. On June 30, 2013, the company’s records show the following accounts which all have normal balances:

Account Name Amount
Cash 5,500
Accounts Receivable 7,500
Office Supplies 550
Truck 8,000
Office Equipment 4,500
Repair Supplies 850
Accounts Payable 6,750
Notes Payable 3,800
A. Chalmers, Capital, June 1 4,690
A. Chalmers, Investment, June 10 2,500
A. Chalmers, Investment, June 20 3,000
A. Chalmers, Withdrawals 2,500
Roofing Revenue 4,250
Unearned Roofing Revenue 2,500
Siding Revenue 5,200
Unearned Siding Revenue 2,700
Miscellaneous Expense 1,490
Rent Expense 1,200
Salaries Expense 2,800
Utilities Expense 500

1. Prepare an income statement for the month ended June 30, 2013.

2. Prepare a statement of owner’s equity for the month ended June 30, 2013.

3. Prepare a balance sheet as of June 30, 2013.
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