Parker opened an accounting firm by investing $15,000 cash and $1,400 in equipment.

Purchased office furniture on account for $4700

Paid monthly rent of $1,000.

Performed accounting services on account, $6,200

Paid employees salary, $1,500.

Received a bill for utilities to be paid next month, $350.

Paid $2500 of the accounts payable created on June 3.

Received 3,000 cash in payment for account receivable created on June 7

Withdrew $3,300 cash for personal use.

ASSETS

=

LIABILITIES + OWNER'S EQUITY

Accounts

Office

Accounts

Service

Cash

+

Receivable

+

Equipment

=

Payable

+

Capital

-

Withd.

+

Revenue

-

Expenses

a.

BALANCE

b.

BALANCE

c.

BALANCE

d.

BALANCE

e.

BALANCE

f.

BALANCE

g.

BALANCE

h.

ENDING BALANCE