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Carrie established Carrie's Photo Tours during June of this year. The accountant prepared the following chart of accounts: Assets Cash Supplies Computer Software Office Equipment
Carrie established Carrie's Photo Tours during June of this year. The accountant prepared the following chart of accounts: Assets Cash Supplies Computer Software Office Equipment Neon Sign Liabilities Accounts Payable Owner's Equity J. Carrie, Capital J. Carrie, Drawing Revenue Income from Services Expenses Wages Expense Rent Expense Advertising Expense Utilities Expense Miscellaneous Expense The following transactions occurred during the month of June: Carrie deposited $30,000 cash in a bank account in the name of the business. Bought office equipment for cash, $1,850, Ck. No. 1001. Bought computer software from Morey's Computer Center, $640, paying $350 in cash and placing the balance on account, Ck. No. 1002. Paid current month's rent, $950, Ck. No. 1003. Sold services for cash, $1,575. Bought a neon sign from The Sign Company, $1,335, paying $435 in cash and placing the balance on account, Ck. No. 1004. Received bill from The Gossiper for advertising, $445. Bought supplies on account from City Supply, $460. Received and paid the electric bill, $380, Ck. No. 1005. Paid on account to The Gossiper, $245, Ck. No. 1006
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