✓ The following amounts summarize the financial position of Little Brown Dog Inc. on May 31, 202X Balance 2560 Cash + Other Information: Required: Accounts Receivable 1280 + Assets Computers (net) 0 + Supplies + Land 400 10400 = During June 202X, the business completed these transactions: June 1: Received a cash investment totalling $4000 in exchange for common shares. 4) Liabilities Accounts Payable 6880 + Note Payable 0 + Salaries Payable 0 Interest Payable 0 + + Shareholders' Equity Retained Earings 4080 June 1: Purchased three computers. The company paid $1000 in cash and took out a bank loan of $4200 to cover the remaining balance owing. The loan bears interest of 10% to be paid on June 1, next year. The computers are expected to last 5 years. June 5: Paid $560 for the current month's office rent. June 9: The business was invoiced for a $2400 purchase of office supplies. June 13: Performed services for a client and received $4000. Common Shares 3680 June 20: Declared and paid a cash dividend of $240. June 23: Received $640 from a customer that was billed last month. June 25: Paid $1600 of a bill received earlier in the month. June 30: Billed a client for services rendered, $2000. June 30: A physical count received that $800 worth of supplies are still on hand. June 30: Paid $640 for an advertising campaign that had been run during the month. Employee salaries were also accrued. Employees work 5 days each week and are paid $2500 in total every other Friday. The month ended on a Wednesday. Employees were last paid 2 weeks ago. + 1) In the past, Little Brown Dog Inc. has used the following accounts on their income statement: Revenue, Depreciation Expense, Interest Expense, Rent Expense, Salaries Expense, Advertising Expense, and Supplies Expense. They use the Dividends account to record dividends. Not all accounts have been used each period. 1) Create all necessary journal entries (including adjusting entries) for the month of June 202X. Place your answer under "Requirement 1" in the "Answer" tab. Note that the dates have been pre-populated. Ensure your journal entries match the appropriate date. Explanations are not required. 2) Analyze the effects of the above transactions on the accounting equation. Place your answer under "Requirement 2" in the "Answer" tab. 3) Prepare the Income Statement for the month ended June 30, 202X. List expenses in decreasing order by amount. Place your answer under "Requirement 3" in the "Answer" tab. Prepare the Statement of Retained Earnings for the month ended June 30, 202X. Place your answer under "Requirement 4" in the "Answer" tab." 5) Prepare the Balance Sheet at June 30, 202X. Place your answer under "Requirement 5" in the "Answer" tab. 6) Using the method outlined in the textbook, joumalize the necessary closing entries for the month ended June 30, 202X. Place your answer under "Requirement 6" in the "Answer" tab. Explanations and dates are not required.

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the following amounts summarize the financial position of little brown

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✓ The following amounts summarize the financial position of Little Brown Dog Inc. on May 31, 202X Balance 2560 Cash + Other Information: Required: Accounts Receivable 1280 + Assets Computers (net) 0 + Supplies + Land 400 10400 = During June 202X, the business completed these transactions: June 1: Received a cash invest