April 1	You set up a bank account and acquire a business credit card. The bank will charge you a fee of $12 at the end of each month.
April 2	You borrow $1,600 from the bank.
April 3	You deposit $5,000 of your own money into the business bank account.
April 4	Your parents lend you an additional $5,000. They will not charge you interest, but want to be paid back within three years.
April 5	You register your business name for $60 with Service Ontario, using the business credit card.
April 6	You purchase, using your business credit card, supplies (i.e. varnish, shellac) for $500 plus HST.
April 7	You purchase, using your business credit card, $4,100 worth of power tools from Home Depot. HST is already included.
April 8	You buy a two-year liability insurance policy for $2,400, plus 8% tax, paying cash.
April 10	You purchase for $300 cash, plus HST, 600 flyers to advertise your business. You haven't used any yet.
April 11	You pay a student $80 cash to distribute 400 of your flyers.
April 12	You fixed one chair for a customer for free, to see if he liked it and would hire you for the rest of the set. You would normally have charged him $100.
April 15	Two more customers hire you to restore their dining room sets. You will charge them each $3,000 when you finish the job. They EACH give you a $1,000 cash deposit.
April 27	Business is booming! You have so far collected $2,200 cash for services to happy homeowners.
April 28	You now have only $250 worth of supplies left.
April 29	You spent $156 from your personal funds in car expenses this month. Two-thirds of this was business travel, all of which was paid by the business.
April 30	You received your cell phone bill for the month. Of the $88, half were business calls. You will pay this peraonally and the business will reimburse you in May.
April 30	One month of your insurance policy has expired.
April 30	The bank takes its monthly charge from the business bank account, plus an additional $6 for interest on your loan.
April 30	You deliver the furniture to one of the April 15 customers. He will pay you his balance next week. IGNORE the effect on inventory!
April 30	You pay two-thirds of the balance owing on the business credit card. You will pay the rest next month.

2) What is Total Liabilities on FFU's balance sheet for April 30?