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Current Attempt in Progress Steve Martin started a snow removal and landscaping business he called Ivanhoe Services. Selected transactions for Ivanhoe Services, for the
Current Attempt in Progress Steve Martin started a snow removal and landscaping business he called Ivanhoe Services. Selected transactions for Ivanhoe Services, for the year ended May 31, 2024, are listed below. 1. Steve transferred his used pickup truck valued at $3,910 into the business. 2. Steve opened a bank account in the name of Ivanhoe Services and invested $2,920 cash in the business. Purchased a used snow plow from a dealer for $1,460 paying half as a down payment and half on account. 4. 3. Plowed the parking lot of a local mall and billed the mall management company $890. 5. Paid for gas for the truck, $150. 6. Plowed three neighbours' driveways and immediately got paid $70 each. 7. Collected in full the invoice billed to the mall management company from #4 above. 8. Paid balance owing on the purchase of the snow plow. 9. Purchased a new lawn mower for $770, paying 10% down payment in cash, with the remainder on account. 10. Paid for business cellphone charges of $30. 11. Purchased $370 of lawn maintenance supplies for cash 12 Billed customers $1,600 for lawn maintenance services completed. 13. Paid balance owing on lawn mower purchase. 14. Collected $765 from customers for services previously billed. 15. Steve withdrew $1,000 cash for personal use. 16. Provided lawn maintenance services totalling $1,100 for several clients - one client whose bill is $185 pays cash, and the remainder are on account
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