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Crane Petronick decided to start an accounting practice after graduation from university. The following is a list of events that occurr concerning Crane's practice. After
Crane Petronick decided to start an accounting practice after graduation from university. The following is a list of events that occurr concerning Crane's practice.
After shopping around, Crane found an office to lease and signed a lease agreement. The lease calls for a payment of $ rent per month.
Crane borrowed $ from his grandmother to buy some office furniture for his new office.
Crane deposited the $ plus $ of his own cash in a new bank account at BMO under the name Petronick Accourcing Services.
Paid the landlord the first month's rent.
Purchased office furniture for $ on account.
Moved into the office and obtained the first assignment from a client to prepare yearend financial statements for $
Performed the work on the assignment and sent an invoice to the customer for $
Paid half of the amount of the purchase of office furniture.
Purchased office supplies on account for $
Paid $ cash for internet services.
Collected half of the amount owing from the customer referred to in #
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