Bal. 590 800 675 500 400 300 180 – – – – – – – June 30 415 – Bal. 590 800 675 500 400 300 180 415 – – – – – – – – June 30 1,000 – Bal. 1,590 800 675 500 400 300 180 415 – – – – – – – – June 30 – – – Bal. 1,590 675 500 400 415 – – – – – ContinuingProblem(Concluded) 2. PSMUSIC IncomeStatement FortheMonthEndedJune30,2019 Feesearned: $6,200 Expenses: Musicexpense $1,590 Officerentexpense 800 Equipmentrentexpense 675 Advertisingexpense 500 Wagesexpense 400 Utilitiesexpense 300 Suppliesexpense 180 Miscellaneousexpense 415 Totalexpenses 4,860 Netincome $1,340 3. PSMUSIC StatementofOwner’sEquity FortheMonthEndedJune30,2019 PeytonSmith,capital,June1,2019 $ InvestmentonJune1,2019 $4,000 NetincomeforJune 1,340 Withdrawals (500) Increaseinowner’sequity 4,840 $4,840 PeytonSmith,capital,June30,2019 4. PSMUSIC BalanceSheet June30,2019 Assets
Bal. – 590 – 800 – 675 – 500 – 400 – 300 – 180 June 30 – 415 Bal. – 590 – 800 – 675 – 500 – 400 – 300 – 180 – 415 June 30 – 1,000 Bal. – 1,590 – 800 – 675 – 500 – 400 – 300 – 180 – 415 June 30 Bal. – 1,590 – – 675 – 500 – 400 – – – 415 ContinuingProblem(Concluded) 2. PSMUSIC IncomeStatement FortheMonthEndedJune30,2019 Feesearned: $6,200 Expenses: Musicexpense $1,590 Officerentexpense 800 Equipmentrentexpense 675 Advertisingexpense 500 Wagesexpense 400 Utilitiesexpense 300 Suppliesexpense 180 Miscellaneousexpense 415 Totalexpenses 4,860 Netincome $1,340 3. PSMUSIC StatementofOwner’sEquity FortheMonthEndedJune30,2019 PeytonSmith,capital,June1,2019 $ InvestmentonJune1,2019 $4,000 NetincomeforJune 1,340 Withdrawals (500) Increaseinowner’sequity 4,840 PeytonSmith,capital,June30,2019 $4,840 4. PSMUSIC BalanceSheet June30,2019 Assets