1. On scratch paper make T Accounts for the following: cash, a/r, supplies, pre-paid ins, auto, equip, notes payable; accounts payable; Laurie, Capital; fees, rent expense; salary expense; blueprint expense; auto expense and miscellaneous expense.
2. Balance the T Accounts
3. Prepare an Unadjusted Trial Balance for submission as homework
4. Prepare an Income Statement reflective of Net Income or Net Loss for submission as homework

Laurie, an architect, opened an office on 7/1/17 and had the following transactions that month:

• Transferred cash from a bank account to an account used for the business, $25,000
• Paid rent for office, 2,750
• Purchased a used vehicle for 30,000, paying 4,000 in chase and providing a note payable for the balance
• Purchased office and computer equipment on account, 9,000
• Paid cash for office supplies, 1,600
• Paid cash for insurance policies, 2,400
• Received cash from client for architectural plans delivered, 11,150
• Paid cash for miscellaneous expenses, 300
• Paid cash to creditors on account, 3,500
• Paid installment due on note payable, 550
• Received invoice for blueprint service, due August, 1,500 (Note: architects sometimes sub-contract the design of blueprints to other firms allowing the former to specialize in design, modifications, and client sales)
• Recorded fee earned on plans delivered, payment to be received in August of 17,300
• Paid salary to assistant, 2,200
• Paid gas, oil, and repairs on auto for July, 815