Anny’s Dry Cleaners is owned and operated by Anny Brum. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets and the liabilities of the business on June 1, 2012, are as follows: Cash, $25,000; Accounts Receivable, $30,000; Supplies, $5,000; Land, $50,000; Accounts Payable, $18,000. Business transactions during June are summarized as follows:
a. Anny Brum invested additional cash in the business with a deposit of $15,000 in the business bank account.
b. Purchased land for use as a parking lot, paying cash of $20,000.
c. Paid rent for the month, $3,000.
d. Charged customers for dry cleaning revenue on account, $22,000.
e. Paid creditors on account, $13,000.
f. Purchased supplies on account, $1,000.
g. Received cash from cash customers for dry cleaning revenue, $28,000.
h. Received cash from customers on account, $27,000.
i. Received monthly invoice for dry cleaning expense for June (to be paid on July 10), $21,500.
j. Paid the following: wages expense, $14,000; truck expense, $2,100; utilities expense, $1,800; miscellaneous expense, $1,300.
k. Determined that the cost of supplies on hand was $3,400; therefore, the cost of supplies used during the month was $2,600.
l. Withdrew $1,000 for personal use.

Instructions
1. Determine the amount of Anny Brum’s capital as of June 1.
2. State the assets, liabilities, and owner’s equity as of June 1 in equation form similar to that shown in this chapter. In tabular form below the equation, indicate increases and decreases resulting from each transaction and the new balances after each transaction.
3. Prepare an income statement for June, a statement of owner’s equity for June, and a balance sheet as of June 30.
4. (Optional) Prepare a statement of cash flows for June.