Transactions Made by Benj & Co

Essay

Transactions made by Benj & Co., an accounting firm, for the month of May are shown below. Prepare a tabular analysis, which shows the effects of these transactions on the expanded accounting equation, with owner's equity columns for Capital, Drawings, Revenues, and Expenses
1. The owner invested $20,000 cash in the business.
2. The company purchased $8,000 of office equipment on credit.
3. The company received $9,000 cash in exchange for services performed.
4. The company paid $1,350 for this month's rent.
5. The owner withdrew $2,000 cash for personal use.