Record these transactions in your books using a spreadsheet format:
June 1 Invested cash in Norman Environmental Services and received common stock $41500
June 2 Borrowed from the First Bank of Baltimore and signed a promissory note $55500
June 3 Purchased Supplies with Cash $1075
June 4 Purchased a computer from a local office supply store on account $1125
June 5 Provided tutorial services on account for 3 students $2285
June 5 Paid rent for the month $900
June 6 Placed and paid for an ad in a newspaper to run this month $180
June 7 Paid the office supply store fully for the computer purchased on June 4
June 8 Received $250 cash from tutorial services provided on account on June 5
June 15 Provided additional tutorial services to students for cash $440
June 30 Determined that $280 of supplies was remaining
June 30 Declared and paid dividends in the amount of $450
| Assets | = | Liabilities | + | Stockholders' Equity | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Date | Cash | Account Receivable | Supplies | Equipment | Account Payable | Notes Payable | Common Stock | Retained Earning | ||
| Beginning balance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
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| Ending balance | ||||||||||