The five transactions that occurred during June, the first month of operations for Brown's Gym, were recorded as follows:

Owner’s Assets = Liabilities + Equity Gym Gym Accts. Notes Tom Brown, Trans Date Cash + Supplies + Land + Building + Equipment = Payable + Payable + Capital

(a) 6/01/00 + $25,000 + $25,000

(b) 6/05/00 — 8,000 + $5,000 + $23,000 + $20,000

(c) 6/07/00 = 270 + $270

(d) 6/17/00 — 4,000 + $10,000 + 6,000

(e) 6/26/00 + 480 + $480 Balances 6/30/00 $12,730 + $750 + $5,000 + $23,000 + $10,000 = $480 + $26,000 + $25,000 Required: (1) Describe the five transactions that took place during June.

(2) Prepare a balance sheet on June 30, 2000.  lo7