During June the following transactions occurred:

1) Completed a job for which the customer paid $500 in June. The invoice is for $1,000.

2) Hire a helper and paid $1,000 for works done.

3) Paid $500 for the rent of July.

4) Purchased supplies for $500. At the end of June notices that there are $500 of supplies left.

5) Orders new flyers for advertising. They will be ready in July but the printer asked to be paid in advance $100.

6) In June collected in cash $1,000 for 3 jobs are done for a total of $4,500, the rest is owed in account by the customers.

7) In June decided to start depreciating the equipment bought for $360 that is expected to last for 3 years.

8) Received an advancement of $2,000 from a customer for a job to be done in August.

9) Asked for a 5 years loan in the local bank for $4,000 and got it in June 7^th.

10) With the money of the loan purchased equipment for $4,200 It is expected that the equipment will last 5 years.

Prepare "T" Accounts in CASH Basis for the period ended on June 30^th and then answer the questions.

At the end of the accounting period (June 30^th, T account after AJE), what is the total of current assets?

The following financial statements were prepared at the end of the month of May: TOPS IN TOPIARY - INCOME STATEMENT FOR the month of May TOPS IN TOPIARY - STATEMENT OF OWNER'S EQUITY FOR the month of MAY TOPS IN TOPIARY - BALANCE SHEET AS OF MAY 31