Overall, assets increased at the end of the month compared to the beginning by $43,350. This results in purchasing more goods, making sales, or simply making payments or buying on credit.1. Cash: There is an increase in cash as of June 30 of $31,677. This could be a result of the company making cash sales or making purchases on credit, which would explain the increase in debts. Additionally, the insurance payments were credited from the prepaid insurance, resulting in no cash being removed from the account.2. Accounts Receivable: There is an increase in Accounts Receivable as of June 30 of $4,707. This could be a result of the company making sales on credit.3. Available Supplies: As of June 30, there is an increase of $1,071 in available supplies. This could be a result of the company purchasing more supplies during the month. Merchandise Inventory: There is a decrease in merchandise inventory as of June 30 of $3,315. The reason for the decrease would be that the company made sales during the month.5. Prepaid Insurance: As of June 30, there is a $324 decrease in prepaid insurance because an insurance payment was due at the end of the month resulting in a decrease in prepaid insurance
tags