Question
1) May1, 2019 Business owner open Renovation& design company and invested $300,000 in business bank account 2) May1, 2019 Business bought supplies $1000 , but
1) May1, 2019 Business owner open Renovation& design company and invested $300,000 in business bank account
2) May1, 2019 Business bought supplies $1000 , but the money will be paid in the future
3)May1, 2019 business paid a one year rent for $24,000
4) May2, 2019 Business bought a computer and a printer
for $9,000 paid in cash, the useful life of the machine is 10 years
5) May3, 2019 business bought the floor materials required to complete
upcoming renovation Project#1 for $3500, paid in cash
6) May3, 2019 business use the 5 year auto financing $24,000 to purchase a truck
( Loan interest is 10%, which will be paid at the end of 5 years with the principal and truck's useful life is 5 years)
7)May5, 2019 business signed a Project#1 $35,000 agreement. The project will be finished during
the month and hired a group of contractors to help the project#1
8)May7, 2019 business paid the owing money for the purchase of the supplies in transaction 2)
9)May14, 2019 business paid the front desk employee $1,500 wages in cash
10)May15, 2019 business completed the project#1 and received the money $35,000
11) May16, 2019 business paid $10,000 to the contractors for help to complete the Project#1
12) May 16, 2019 business confirm $2000 materials already been used for project#1
13) May 17, 2019 business complete the basement design service project#2 $8,000 for the customer. The money will
be received in the near future
14) May18, 2019 business owner withdrew $3,000 cash from the business bank acc
15) May28, 2019 business paid front employee wages again in cash
16) May30, 2019 received the utillity bill $800 for the electricity and energy used during the month
paid in cash
17) May31, 2019 business found only $400 supplies left over there
18) May31, 2019 business need to record the current month rent expense since the business has been a tenanct
for the whole month of May.
19) May31, 2019 Business need to record the used-up part of the equipment
20) May31, 2019 business need to record the used-up part of the truck
21) May31, 2019 business recorded the monthly interest of the above truck loan
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