Brad Piascik opened a consulting company, and the following transactions resulted.

1. Brad invested $33,000 in the consulting agency.

2. Bought office equipment on account, $2,500.

3. Agency received cash for consulting work that it completed for a client, $2,000.

4. Brad paid a personal bill from the company checkbook, $150.

5. Paid advertising expense for the month, $250.

6. Rent expense for the month due but unpaid, $500.

7. Paid $600 as partial payment of what was owed from Transaction B.

As Brad?s accountant, analyze and record the transactions in T account form. Set up the T accounts and label each entry with the letter of the transaction.

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Chart of Accounts Assets Revenue Cash 111 Consulting Fees Earned 411 Office Equipment 121 Expenses Liabilities Advertising Expense 511 Accounts Payable 211 Rent Expense 512 Owner's Equity Brad Piascik, Capital 311 Brad Piascik, Withdrawals 312