Lena Gold began a professional practice on June 1 and plans to prepare financial statements at the end of each month.

During
a. On June 1, the owner invested $50,000 cash in the company along with equipment that had a $10,000 market value.

b. The company paid $1,600 cash for rent of office space for the month on June 2.
c. On june 4, the company purchased $12,000 of additional equipment on credit (payment due within 30 days).
d. The company completed on June 5 work for a client and immediately collected the $2,000 cash earned.
e. The company completed work on June 10 for a client and sent a bill for $7,000 to be received within 30 days.
f. The company purchased on June 11 additional equipment for $8,000 cash.
g. The company paid an assistant on June 15 $2,400 cash as wages for the month.
h. On June 17, the company collected $5,000 cash as a partial payment for the amount owed by the client in transaction e.
i. The company paid $12,000 cash on June 20 to settle the liability created in transaction c.
j. Owner withdrew $500 cash on June 30 from the company for personal use.

Required:
1. Chart of Accounts
2. Journal Entries
3. T-accounts
4. Unadjusted Trial Balance For the month ended June 30, 2023
Amount
50,000
10,000
1,600
12,000
2,000
7,000
8,000
2,400
5,000
12,000
500
 CHART OF ACCOUNT
Jun-30

Account Number Account Title

ASSETS
100 Cash
110 Accounts Receivable
120 Equipment
130 Prepaid Rent
Liability
200 Accounts Payable
Equity
300 Gold Capital
310 Gold Drawings
Income
400 Service Revenue
Expenses
500 Salaries Expense
Journal Entries
Date Debit Credit
1-Jun Cash 50,000
Equipment 10,000
Gold, Capital 60,000

2-Jun Prepaid rent 1,600

Cash 1,600

4-Jun Equipment 12,000

Accounts Payable 12,000

5-Jun Cash 2,000

Service Revenue 2,000

10-Jun Accounts receivable 7,000

Service Revenue 7,000

11-Jun Equipment 8,000

Cash 8,000

15-Jun Salaries Expense 2,400

Cash 2,400

17-Jun Cash 5,000

Accounts Receivable 5,000

20-Jun Accounts Payable 12,000

Cash 12,000

30-Jun Gold, Drawings 500

Cash 500
 ASSETS Liability Equity Income

Cash Accounts Payable Gold Capital Service Revenue

50,000 1,600 12,000 12,000 60,000 2,000
2,000 8,000 7,000
5,000 2,400 0 60,000 0 9000
12,000
500 9000
57,000 24,500 Gold Drawings
32,500 500

500
Accounts Receivable
7,000 5,000

7,000 5,000
2,000

Equipment
10,000
12,000
8,000

30,000 0
30,000

Prepaid Rent
1,600
1,600 0
1,600
 Expenses

Salaries Expense
2,400

2,400

2,400
 Lena Gold
Unadjusted Trial Balance
For the month ended June 30
Cash 32,500
Accounts Receivable 2,000
Equipment 30,000
Prepaid Rent 1,600
Gold Capital 60,000
Gold Drawings 500
Service Revenue 9000
Salaries Expense 2,400
Total 69,000 69,000