J. Carrie established Carrie’s Photo Tours during June of this year. The accountant prepared the following chart of accounts:

Assets

Cash

Supplies

Computer Software

Office Equipment

Neon Sign

Liabilities

Accounts Payable

Owner’s Equity

J. Carrie, Capital

J. Carrie, Drawing

Revenue

Income from Services

Expense

Wages Expense

Rent Expense

Advertising Expense

Utilities Expense

Miscellaneous Expense

The following transactions occurred during the month of June:

a. Carrie deposited $ 30,000 cash in a bank account in the name of the business.

b. Bought office equipment for cash, $ 1,850, Ck. No. 1001.

c. Bought computer software from Morey’s Computer Center, $ 640, paying $ 350 in cash and placing the balance on account, Ck. No. 1002.

d. Paid current month’s rent, $ 950, Ck. No. 1003.

e. Sold services for cash, $ 1,575.

f. Bought a neon sign from The Sign Company, $ 1,335, paying $ 435 in cash and placing the balance on account, Ck. No. 1004.

g. Received bill from The Gossiper for advertising, $ 445.

h. Bought supplies on account from City Supply, $ 460.

i. Received and paid the electric bill, $ 380, Ck. No. 1005.

j. Paid on account to The Gossiper, $ 245, Ck. No. 1006.

k. Sold services for cash, $ 3,474.

l. Paid wages to an employee, $ 930, Ck. No. 1007.

m. Carrie invested his personal computer (Office Equipment) with a fair market value of $ 1,000 in the business.

n. Carrie withdrew cash for personal use, $ 800, Ck. No. 1008.

o. Received and paid the bill for city business license, $ 75, Ck. No. 1009 ( Miscellaneous Expense).

Required

1. Record the owner’s name in the Capital and Drawing T accounts.

2. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts.

3. Record the transactions in the T accounts. Write the letter of each entry to identify the transaction.

4. Foot the T accounts and show the balances.

5. Prepare a trial balance, with a three- line heading, dated June 30, 20—.