The accountant for the firm owned by Randy Guttery prepares financial statements at the end of each month. The following transaction for Randy Guttery, Landscape Consultant took place during the end month ended June 30, 2019.

Transactions:

a. Guttrey invested $ 155,000 in cash to start business.

b. Paid $ 5,500 for currents month's rent.

c. Bought office furniture for $ 16,220 in cash.

d. Performed services for $ 7,700 in cash.

e. Paid $ 1,200 for the monthly telephone bill.

f. Performed services for $13,500 on credit.

g. Purchased a computer and copier for $ 37,000; paid $ 12,500 in cash immediately with the balance due in 30 days.

h. Received $ 6,750 from credit clients.

i. Paid $ 3,500 in cash for office services cleaning for the month.

j. Purchased additional office chairs $ 5,300; received credit terms for 30 days.

k. Purchased office equipment for $ 35,000 and paid half of this amount in cash immediately; the balance is due in 30 days.

l. Issued a check for $ 8,900 to pay salaries.

m. Performed services for $ 14,000 in cash.

n. Performed services for $15,500 on credit.

o. Collected $ 7,500 on accounts receivable from charged customers.

p. Issued a check $ 2,650 in partial payment owned for office chairs.

q. Paid $ 650 to a duplicating company for photocopy work preformed during the month.

r. Paid $ 1,170 for monthly electric bill.

s. Guttrey withdrew $ 8,500 in cash for personal expenses.

Required:

Prepared a trial balance, an income statement, a statement of owner's equity and a balance sheet. Assume that the transaction took place during the month June 30, 2019. Determine the account balances before you start work on the financial statements.

Analize:

What is the change of owners equity for the month of June?