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Hello! Can you show me the solution on how to do the T-accounts for this question? Name Rohit Agarwal Class MGT 120 Date 06/06/2016 PROBLEM

Hello! Can you show me the solution on how to do the T-accounts for this question?

image text in transcribed Name Rohit Agarwal Class MGT 120 Date 06/06/2016 PROBLEM 2A-4 OR PROBLEM 2B-4 (A) GRACIE LANTZ, ATTORNEY AT LAW INCOME STATEMENT FOR MONTH ENDED MAY 31, 200X Revenue Revenue from Legal Fees $1 3 5 0 00 Operating Expenses Utilities Expense Rent Expense Salaries Expense Total Operating Expenses Net Income (B) $ 3 0 0 00 4 5 0 00 1 5 0 00 $ 9 0 0 00 4 5 0 00 GRACIE LANTZ, ATTORNEY AT LAW STATEMENT OF OWNER'S EQUITY FOR MONTH ENDED MAY 31, 200X Gracie Lantz, Capital, May 1, 200X Net Income for May Less: Withdrawals for May Increase in Capital Gracie Lantz, Capital, May 31, 200X $1 2 7 5 00 $ 4 5 0 00 3 0 0 00 1 5 0 00 $1 4 2 5 00 GRACIE LANTZ, ATTOR NEY AT LAW SG-41 Name Rohit Agarwal Class MGT 120 Date 06/06/2016 PROBLEM 2A-4 OR 2B-4 (CONCLUDED) (C) ASSETS Cash LIABILITIES AND OWNER'S EQUITY $ 5 0 0 0 Accounts Receivable 6 5 0 Office Equipment 7 5 0 0 0 0 0 0 0 Liabilities Accounts Payable Salaries Payable Total Liabilities Owner's Equity Gracie Lantz, Capital $ 4 3 0 0 00 6 7 5 00 $4 9 7 5 0 1 4 2 5 0 $6 4 0 0 0 Total Liabilities and Total Assets $ 6 4 0 0 0 0 Owner's Equity Enter T-Accts Here

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