1	On June 30th, you invest $10,000 dollars as seed money to get things going. In exchange you are issued 100 shares of $0.20 par value common stock.
2	You decide buying your own place is a little much, so instead, agree to terms to rent a nice desk at the Idea Foundry in Franklinton. Terms are $350 a month, payable in advance and due by the end of the preceding month. You make all payments on schedule and have been using the space since day one in July.
3	You realize there is a market for some swanky branded merch too. Therefore, you work with a stationery and fine pen distributor to design and supply leatherbound, 90mg milled paper ledger books. These ledgers, complete with Sailor 1911S pen, will make recording all those winnings that much cooler. The supplier bills you $95 each for your first order delivered of 35 ledgers on account.
4	You make your business official by filing Articles of Organization for a Domestic Limited Liability Company (Form 533A) with the Ohio Secretary of State. It costs $39 to reserve the company name and $99 to file the form.
5	It's important to outfit your offices with all the supplies you need to function. You and a friend head to Staples one day and leave that place with $900 worth of supplies. (You don't plan on keeping detailed track of these supplies, nor performing a periodic inventory count at year end.)
6	You get your first client! You successfully provide consultation and they pay you $1,000 cash.
7	You realize you need someone who knows their way around statistical number crunching. You hire a bright young OSU Statistics major to perform directed analysis at $20 per hour. They end up working with you 20 hours a week for the last 16 weeks of the year. You paid them current, however things were hectic at year end and you still owe them for the last three weeks.
8	Throughout the remainder of the year, you consult and bill $14,000 to a number of clients. (Word is spreading fast about your services!)
9	The betters out there don't just love your tips and insights, they are also parlaying your consultations with some of those sweet ledger books you sell. Throughout the year, you 17 of them at a price of $200 each! You first record the cash sales you made for them.
10	Next, you recall something about the expense recognition principle from your accounting class something about when you sold those ledgers
11	You remember you have to make an estimated tax payment by mid-September. So you send Uncle Sam $1,000.
12	You pay your supplier in full for the ledgers and begin discussing terms for your next order.
13	AEP has been looking for you! They've been sending the electric bills to the wrong PO Box. You receive a cumulative electric bill on 12/15 due immediately for $800.
14	You check your own ledger at the end of the year, and it looks like you are still owed $3,500 from your consulting clients as of year end.
15	Time to do your taxes (21%) You'll pay any balance due in the next year before April 15th.