1. On June 1 of this year, J. Larkin, Optometrist, established theLarkin Eye Clinic. The clinic's account names are presented below.Transactions completed during the month follow.

   Assets

   =

   Liabilities

   +

   Owner's Equity

   Office

   Accounts

   Cash

   +

   Supplies

   +

   Equipment

   =

   Payable

   +

   Capital

   ?

   Drawing

   +

   Revenue

   ?

   Expenses

   1. Larkin deposited $25,000 in a bank account in the name of thebusiness.
   2. Paid the office rent for the month, $950, Ck. No. 1001 (RentExpense).
   3. Bought supplies for cash, $357, Ck. No. 1002.
   4. Bought office equipment on account from NYC Office EquipmentStore, $8,956.
   5. Bought a computer from Warden's Office Outfitters, $1,636,paying $750 in cash and placing the balance on account, Ck. No.1003.
   6. Sold professional services for cash, $3,482 (ProfessionalFees).
   7. Paid on account to Warden's Office Outfitters, $886, Ck. No.1004.
   8. Received and paid the bill for utilities, $382, Ck. No. 1005(Utilities Expense).
   9. Paid the salary of the assistant, $1,050, Ck. No. 1006 (SalaryExpense).
   10. Sold professional services for cash, $3,295 (ProfessionalFees).
   11. Larkin withdrew cash for personal use, $1,250, Ck. No.1007.

   Required:

   1. Record the transactions and the balances after eachtransaction.
   2. After all transactions have been entered, enter the totalassets and the total liabilities plus owner's equity in the entryboxes below the transactions. If the two totals do not equal eachother, first check the addition and subtraction. If you stillcannot find the error, re-analyze each transaction.

      1. Enter increases to accounts as positive amounts and decreasesto accounts as negative amounts. If an amount box does not requirean entry, leave it blank or enter "0".

   Assets

   =

   Liabilities

   +

   Owner's Equity

   Office

   Accounts

   J. Larkin,

   J. Larkin,

   Cash

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   Supplies

   +

   Equipment

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   Payable

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   Capital

   ?

   Drawing

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   Revenue

   ?

   Expenses

   (a)

   (b)

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   (c)

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   (d)

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   (e)

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   (f)

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   (g)

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   (h)

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   (i)

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   (j)

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   (k)

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   Assets

   $

   Liabilities and Owner'sEquity

   $