Journalizing Transactions in Template, Journal Entry Form, and T-Accounts Creative Designs, a firm providing art services for advertisers, began business on June 1, 2014. The following accounts in its general ledger are needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Retained Earnings; Service Fees Earned; Rent Expense; Utilities Expense; and Salaries Expense. Record the following transactions for June (a) using the financial statement effects template and (b) in journal entry form. (c) Set up T-accounts for each of the ledger accounts and post the entries to them (key the numbers in T-accounts by date).

June	1	Anne Clem invested cash to begin the business in exchange for common stock.	$12,000
	2	Paid cash for June rent.	950
	3	Purchased office equipment on account.	6,400
	6	Purchased art materials and other supplies costing	3,800
		paid this amount in cash with the remainder due within 30 days.	1,800
	11	Billed clients for services rendered.	4,700
	17	Collected cash from clients on their accounts.	3,250
	19	Paid cash toward the account for office equipment suppliers (see June 3).	3,000
	25	Paid cash for dividends.	900
	30	Paid cash for June utilities.	350
	30	Paid cash for June salaries.	2,500

(a)

Balance Sheet
Transaction		Cash Asset	+	Noncash Assets	=	Liabilities	+	Contributed Capital	+	Earned Capital
June 1	Invested cash for stock.	Answer		Answer		Answer		Answer		Answer
June 2	Paid June rent.	Answer		Answer		Answer		Answer		Answer
June 3	Purchase office equip.	Answer		Answer		Answer		Answer		Answer
June 6	Purchased supplies.	Answer		Answer		Answer		Answer		Answer
June 11	Billed for services.	Answer		Answer		Answer		Answer		Answer
June 17	Collected on accounts.	Answer		Answer		Answer		Answer		Answer
June 19	Paid on office equip.	Answer		Answer		Answer		Answer		Answer
June 25	Paid dividend.	Answer		Answer		Answer		Answer		Answer
June 30-a	Paid utilities.	Answer		Answer		Answer		Answer		Answer
June 30-b	Paid salaries.	Answer		Answer		Answer		Answer		Answer
	TOTALS	Answer	+	Answer	=	Answer	+	Answer	+	Answer

Income Statement
	Revenue	-	Expenses	=	Net Income
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	Answer	-	Answer	=	Answer