Jay Pembroke

Jay Pembroke

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Jay Pembroke started a business. During the first month (April 20–), the following transactions occurred.

a.  Invested cash in business, $18,000.

b.  Bought office supplies for $4,600: $2,000 in cash and $2,600 on account.

c.  Paid one-year insurance premium, $1,200.

d.  Earned revenues totaling $3,300: $1,300 in cash and $2,000 on account.

e.  Paid cash on account to the company that supplied the office supplies in transaction (b), $2,300.

f.  Paid office rent for the month, $750.

g.  Withdrew cash for personal use, $100

Required:

Show the effects of the transaction of invidual accounts on the Accounting Equation. After transaction g, show the totals of each element