Question

Ques 1.
Matt started a delivery service, Matt Deliveries, on June 1, 2019. The following transactions
occurred during the month of June.
June 1 Shareholders invested Rs 10,000 cash in the business for equity shares.
June 2 Purchased a used van for deliveries for Rs 14,000. Matt paid Rs 2,000 cash and
signed a note payable for the remaining balance.
June 3 Paid Rs 500 for office rent for the month.
June 5 Performed Rs 4,800 of services on account.
June 9 Declared and paid Rs 300 in cash dividends.
June 12 Purchased inventory for Rs 150 on account.
June 15 Received a cash payment of Rs 1,250 for services provided on June 5.
June 17 Purchased gasoline for Rs 100 on account,
June 20 Received a cash payment of Rs 1,500 for services provided.
June 23 Made a cash payment of Rs 500 on the note payable.
June 26 Paid Rs 250 for utilities.
June 29 Paid for the gasoline purchased on account on June 17.
June 30 Paid Rs 1,000 for employee salaries.
Instructions
a) Show the effects of each of the above transactions on the accounting equation
b) Prepare an income statement for the month of June
c) Prepare a statement of financial position at June 30, 2019
I

Answer 1

Answer:

such a big question can't type!! sorry