01-Oct 02-Oct You set up a business bank account and get a business credit card. The bank will charge a fee of $10 at the end of each month. You deposit $2,000 of your own money into the business bank account to start the business. 03-Oct You borrow $1,000 from the bank. 04-Oct 06-Oct 07-Oct 08-Oct 10-Oct 11-Oct You register your business name for $60 with Service Ontario, using the business credit card. You purchase, using the business credit card, ten cat toys for $200 plus HST. You expect the toys to last more than a year. You purchase, using the business credit card, 20 kilograms of kitty litter for $400 plus HST. You buy a one-year liability insurance policy for $1,500, plus 8% tax, paying cash. You purchase for $200 cash, plus HST, flyers to advertise your business. None of the flyers have been delivered yet. You I pay a student $50 cash to deliver all your flyers to the homes in your area. You visited your first cat on the Thanksgiving weekend. 12-Oct Because this is your first customer you provide your services for free instead of charging her your usual $40 fee! 15-Oct 27-Oct 28-Oct Two more customers hire you for the upcoming Christmas holidays. They EACH pay you $20 now to reserve your services. Business is purring! You have provided services to 30 customers and collected $1,200 in cash. You now have only 5 kilograms of kitty litter left. All the remainder has been used. You spent $156 from your personal funds in car expenses this month. 29-Oct One-third of this was business travel and the business pays you cash from the business bank account. You received your cell phone bill for the month of October. 30-Oct Of the $88, half were business calls. The company will reimburse you the amount owed next month. 31-Oct You have used up 1 month of insurance coverage. 31-Oct 31-Oct The bank takes its monthly charge from the business bank account, plus an additional $5 for interest on your loan. You visited your first customer's black cat on Halloween. The customer will pay you the $40 in November. 31-Oct You pay the entire balance owing on the business credit card.