ABC Delivery Service had the following transactions in June: Earned $4,000 cash for services rendered; collected $2,500 from a customer on account; paid out $200 cash for plumbing services; received $3,500 of supplies and promised to pay one month later; paid out $1,000 in cash drawings to the owner. What is the combined effect on Cash of the June transactions?

answer choices

Up $1,800

Down $300

Down $6,300

Up $5,300

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Crusoe Waterworks Company provides plumbing services. Transactions of Crusoe Waterworks during the first year of operations are given below.

a) The owner, Robin Crusoe, invested $5,000 cash in the company. The cash was deposited in the business checking account.

b) Paid $4,000 cash for equipment to be used for plumbing repairs.

c) Borrowed $26,000 from a local bank and deposited the money in the checking account.

d) Paid $700 rent for the year.

e) Purchased $1,500 of office supplies on account.

f) Completed a plumbing repair project for a local lawyer and received $3,400 cash.

Calculate the amount of total owner's equity after recording the transactions. Assume office supplies of $1,500 are left at the end of the year.

Group of answer choices

$7,700

$3,400

$5,000

$26,000