Transactions for Ing Ltd. for the month of June, its first month of operations, are presented below. For each transaction, prepare a (a) basic analysis, (b) equation analysis, and (c) debit-credit analysis.

June 1 Issued common shares to shareholders in exchange for $2,500 cash.

4 Purchased supplies on account for $250.

7 Billed J. Kronsnoble $300 for welding work done.

18 Received partial payment of $200 from J. Kronsnoble for work billed on June 7.

25 Hired a new employee to start work on July 3.

27 Received cash of $200 from Liu Controls Ltd. as a deposit for welding work to be done in July.

28 Paid for supplies purchased on June 4.

29 Paid $100 for monthly income tax instalment.