Record the owners’ name in the Capital and drawing T-accounts.
2, 3 & 4
Correctly place the plus and minus signs for each T-account and label the debit and credit sides of the accounts, Record the transactions in the T-accounts and write the letter of each entry to identify the transaction and show the balances.
Prepare a trial balance as of July 31.
Prepare an income statement for July 31.
Prepare a statement of owners’ equity for July 31.
Prepare a balance sheet as of July 31.