Business, 18.06.2021 01:30 BEEFYTACO

Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. Owner invested $60,000 cash in the company along with equipment that had a $26,000 market value. The company paid $2,700 cash for rent of office space for the month. The company purchased $14,000 of additional equipment on credit (payment due within 30 days). The company completed work for a client and immediately collected the $2,600 cash earned. The company completed work for a client and sent a bill for $7,700 to be received within 30 days. The company purchased additional equipment for $5,100 cash. The company paid an assistant $4,000 cash as wages for the month. The company collected $4,300 cash as a partial payment for the amount owed by the client in transaction e. The company paid $14,000 cash to settle the liability created in transaction c. Owner withdrew $1,100 cash from the company for personal use. Required:

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Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the e...

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