On June 1 of the Current year, Bret Eisen established a business to manage rental property. He completed the following transactions during June:
A.  Opened a business bank account with a deposit of $30,000 from personal funds.
B.  Purchased office supplies on account, $1,200.
C.  Received cash from fees earned from managing rental property, $7,200.
D.  Paid rent on office and equipment for the month, $3,000.
E.  Paid creditors on account, $750.
F.  Billed customers for fees earned for managing rental property, $5,000.
G.  Paid automobile expenses (including rental charges) for month, $600, and miscellaneous expenses, $300.
H.  Paid office salaries, $1,800.
I.  Determined that the cost of supplies on hand was $700, therefore, the cost of supplies used was $500.
J.  Withdrew cash for personal use, $1,500
Instructions:
1.  Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings:
Solution
I tried and everything is correct thank you very much!
.
On June 1 of the Current year- Bret Eisen established a business to ma.docx
1. On June 1 of the Current year, Bret Eisen established a business to manage rental property. He
completed the following transactions during June:
A.  Opened a business bank account with a deposit of $30,000 from personal funds.
B.  Purchased office supplies on account, $1,200.
C.  Received cash from fees earned from managing rental property, $7,200.
D.  Paid rent on office and equipment for the month, $3,000.
E.  Paid creditors on account, $750.
F.  Billed customers for fees earned for managing rental property, $5,000.
G.  Paid automobile expenses (including rental charges) for month, $600, and miscellaneous
expenses, $300.
H.  Paid office salaries, $1,800.
I.  Determined that the cost of supplies on hand was $700, therefore, the cost of supplies
used was $500.
J.  Withdrew cash for personal use, $1,500
Instructions:
1.  Indicate the effect of each transaction and the balances after each transaction, using the
following tabular headings:
Assets = Liabilities + Owner
Solution
I tried and everything is correct thank you very much!
