ANALYSIS OF TRANSACTIONS Nicole Lawrence opened a business

called

Nickie$$s Neat Ideas in January $20--.$ Set up T accounts for the

following accounts:

Cash; Accounts Receivable; Office Supplies; Computer Equipment;

Office Furniture;

Accounts Payable; Nicole Lawrence, Capital; Nicole Lawrence,

Drawing; Professional

Fees; Rent Expense; and Utilities Expense.

The following transactions occurred during the first month of

business. Record

these transactions in T accounts. After all transactions have been

recorded, foot and

balance the accounts if necessary.

$($a$)$ Invested cash in the business, $$18,000.$

$($b$)$ Purchased office supplies for cash, $$500.$

$($c$)$ Purchased office furniture for cash, $$8,000.$

$($d$)$ Purchased computer and printer on account, $$5,000.$

$($e$)$ Received cash from clients for services, $$4,000.$

$($f$)$ Paid cash on account for computer and printer purchased in

transaction

$($d$),$ $$2,000.$

$($g$)$ Earned professional fees on account during the month,

$$7,000.$

$($h$)$ Paid office rent for January, $$900.$

$($i$)$ Paid utility bills for the month, $$600.$

$($j$)$ Received cash from clients that were billed previously in

transaction $($g$),$ $$3,000.$

$($k$)$ Withdrew cash for personal use, $$4,000.$TRIAL BALANCE Based on the transactions recorded in

Exercise $3-7$B$,$ prepare atrial balance for Nickie$$s Neat Ideas as of January $31,$

$20--.$Also an income statement, balance sheet and$$STATEMENT

OF OWNER$$S EQUITY