USE EXCEL

Date EXAMPLE ACCOUNT AFFECTED PURCHASE CREDITOR-COOPER ELEMENTS EXPENSES LIABILITIES INCREASE / DECREASE AMOUNT ($) INCREASE 500 DECREASE 500 Transaction Analysis Chart On 1 June 2020, Maverick's Equipment Hire opened up equipment rental business. Maverick contributed the capital of the business, $720,000 to the business's bank account. He has asked you to be record-keeper for the business on a part-time basis. During the first month of operation, the following transactions were undertaken by the business: June 2 The business acquired land for $300,000 and a building on the land for $160,000. A cash payment of $100,000 was made and a mortgage loan was arranged for the total balance owing. 13 The business acquired some personal desktops for the customer service office at a total cost of $8,200, paid by cheque. 15 Purchased motor vehicle, $43,800 from Billy Motors. An initial $3,800 is paid immediately and the rest is to be paid at the end of this month. An invoice was received from Billy Motors on the remaining outstanding balance, dated 16 June 2020 with terms 10/10, 5/15. 25 Equipment hire income of $21,600 was received in cash. 27 Paid the remaining cash owing to Billy Motors. 30 The business paid wages of $2,200. Required: Based on the above information, prepare: (a) a Transaction Analysis Chart for the month of June. (b) a Statement of Financial Position as at 30 June 2020