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[The following information applies to the questions displayed below.] The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this
[The following information applies to the questions displayed below.] The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $67,500 (Transaction 1). Transaction Cash 1 2 3 4 Bal 5 6 7 8 Total Assets +67,500 - 7,300 Assets Assets Accts. Rec. +4,300 -580 = Liab. + Accts. G. Sawyer, Pay. Supp. Equip. +7,300 +2,780 +2,780 -3,050 + 580 -1,500 -360 +360 55,870+ 3,720+ 360+ 10,080= 2,780+ SAWYER ARCHITECTURE SERVICES Balance Sheet June 30, 20X1 Owner's Equity Capital +67,500 Prepare the balance sheet for Sawyer Architecture Services as of June 30, 20X1. Liabilities -1,500 Owner's Equity Rev. + 66,000 Total Liabilities and Owner's Equity +4,300 Exp. -3,050 4,300- 3,050
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