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Create your own business. What are the first three UNIQUE transactions you would do as a business owner. Why are these the first things you

Create your own business. What are the first three UNIQUE transactions you would do as a business owner. Why are these the first things you would do? Input the three transactions in the spreadsheet.

PLEASE EDIT THIS TO A NEW BUSINESS AND COMPLETELY NEW TRANSACTIONS

Name:

Print It Out Inc.

Transaction 1:

Invested $20,000 from the personal funds to the business on January 1

This transaction is made to arrange the capital to start the business

Transaction 2:

Purchased the Apparels Printing Machine for $8000, by paying $5000 cash and issuing a 6 months note for balance on January 2

This transaction is made to arrange the equipment required for the business

Transaction 3:

Provided Printing Services to customers on accounts for $1500 on January 10

This transaction is made to earn revenues for the business

Date

ASSETS

EQUITY

LIABILITIES

Equipment

Debtors

Bank

Capital/Drawings

Income/Expense

Loan

Creditors

1-Jan

$20,000

$20,000

2-Jan

$8,000

(5000)

$3,000

10-Jan

$1,500

$1,500

Total

$8,000

$1,500

$15,000

$20,000

$1,500

$3,000

$0

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