LA 2 Comprehensive Learning Assessment 2 – CLO 1, CLO 2, CLO 6 Chau Pham launched a new business called Pham’s Maintenan

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LA 2 Comprehensive Learning Assessment 2 – CLO 1, CLO 2, CLO 6
Chau Pham launched a new business called Pham’s Maintenance Co.
that began operations on June 1, 2021. The following transactions
were completed by the company during the first month:
June 1 Pham invested $175,000 in the business in exchange for
common stock.
2 Rented a furnished office and paid $7,500 cash for June's
rent.
4 Purchased $3,000 worth of equipment from Skyline Office
equipment paying $1,000 cash with the balance being paid in 20
days.
6 Paid $1,300 cash to advertise the grand opening of the
business.
9 Performed maintenance services for a customer and was
immediately paid $1,000 in cash.
10 Performed $8,500 of maintenance services for PDQ Company on
credit.
12 Paid $300 in cash to Hernandez Bookkeeping Services for work
performed during June. 20 Received $8,500 from PDQ Company for
maintenance work done on June 10.
21 Performed maintenance services totaling $650. The customer
paid cash immediately.
22 Performed $1,250 of maintenance services on credit for Patel
Realty.
23 Performed $8,500 of maintenance services on credit for the
Alaska Mall.
24 Paid $2,000 balance due to Skyline for the equipment
purchased on June 4.
30 Received $1,250 in cash for services performed for Lee Realty
on June 22. 30 Paid $250 cash for this month's telephone bill.
30 Paid $750 cash for utilities. 30 Paid $3,000 cash for
dividends.
Required: Arrange the following asset, liability, and equity
titles in a table: Cash; Accounts Receivable; Equipment; Accounts
Payable; Common Stock; and Retained Earnings. Include an
Explanation column for changes in equity. Show the effects of the
transactions on the accounts of the accounting equation by
recording the increases and decreases in the appropriate columns.
Do not determine new account balances after each transaction. Next
to each change in equity, state whether it was caused by an
investment, a revenue, an expense, or a dividend. Determine the
final total for each account and verify that the equation is in
balance. Prepare a June unadjusted income statement, a June
unadjusted statement of retained earnings, a June 30 unadjusted
balance sheet, and a June unadjusted statement of cash flows.