1 Show the accounts involved in the transactions below under the main five headings of the financial statements (i.e. assets, liabilities, equity, revenue and expenses):

2 Advise what accounts would be debited and credited.

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Modern Decorating Services Ltd April 1 Brian Smith started business by investing $10,000 in cash. 3 Purchased premises for $14,000 payable in ten equal annual instalments. 4 Paid the first instalment from 3 May. 4 Purchased $1,500 decorating supplies on credit. 5 Paid wages $2,000. 8 Received $8,000 for services sold. 8 Invested a further $3,000 in the business. 10 Bought a van for $2,000 cash. 11 Sold services on credit for $4,000. 12 Paid for the supplies from 4 May. 15 Paid registration on van $300. 16 Received $3,000 from clients from 11 May service. 16 Withdrew $1,000 for own use.