1) Beckowsik Company began business in June and completed the following transactions:

A)Received $50,000 cash and issued common stock to the stockholders.

B)Purchased supplies for $5,000 on account.

C)Received and paid utilities bill of $2,000 for the month.

D)Performed services for a customer and billed the customer $6,000.

E)Received $3,000 from the customer on account.

F)Paid for the supplies purchased on account.

G)Purchased equipment for $10,000 on account.

H)Declared and paid dividends of $2,200.

Required:

1. Record the effects of the above transactions on the accounting equation.

2. Prove the accounting equation using the final balances in the accounts.