United Delivery, Inc. began business on June 1. Prepare a horizontal worksheet with the following column headings: Cash; Accounts Receivable; Prepaid Rent; Supplies; Delivery Equipment; Accounts Payable; Unearned Delivery Fees; Common Stock; Dividends; Delivery Fees Earned; Salaries Expense; and Rent Expense. Show how the June transactions affect the accounting equation. Total all columns to show that assets equal liabilities plus stockholders' equity.

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The Answer of United Delivery, Inc. began business on June 1. Prepare a horizontal worksheet with the following column headings: Cash; Accounts Receivable; Prepaid Rent; Supplies; Delivery Equipment; Accounts Payable; Unearned Delivery Fees; Common Stock; Dividends; Delivery Fees Earned; Salaries Expense; and Rent Expense. Show how the June transactions affect the accounting equation. Total all columns to show that assets equal liabilities plus stockholders' equity.