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Assignment 1 Audrey Hembruff opened her own law office on May 1,2023. During the first...

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Accounting

Assignment 1 Audrey Hembruff opened her own law office on May 1,2023. During the first month of operations, the following transactions occurred: 1. May 1 Invested $15,000 in cash in law practice.2. May 2 hired a legal assistant to work part-time for $1,500 per month.3. May 2 Paid $1,800 for July rent on office space.4. May 5, Purchased equipment on account, $3,000.5. May 11 Provided legal services to clients for cash, $2,500.6. May 15 Borrowed $7,000 cash from a bank on a note payable.7. May 21 Provided legal services to a client on account, $4,000.8. May 25 collected $1,200 of the amount owed by a client on account (see transaction 7).9. May 27 Withdrew $2,000 cash for personal use.10. May 31 Paid monthly salary expenses: $1,500.11. May 31 Paid telephone Expense $200.12. May 31 paid monthly utilities, $300.Instructions: (a) Prepare a General Journal(b) Prepare Ledge account and post to the appropriate account.(c) Prepare Trial balance.(d) Prepare the income statement,(e) Prepare statement of owners equity, and(f) Prepare balance sheet for Audrey Hembruff, Barrister & Solicitor.

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