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Date Transaction Details 3 0 Sep 2 0 2 1 Received a capital payout of $ 1 0 0 , 0 0 0 from the
Date Transaction Details Sep Received a capital payout of $ from the partnership with which she used to work. She decided that she needed to invest $ in BHP shares as part of her personal share portfolio and deposit the rest of the payout into a separate business bank account. Oct Entered into a rental agreement with the local business centre to lease a two connecting rooms from which to run the law practice. The rental is $ per month in arrears. She paid a deposit bond of $ Purchased the following office equipment total $ office and waiting room furniture $ a computer $ and second hand photocopier $ Total was paid in cash. Oct Employed a legal secretary to act as her assistant and receptionist. Agreed on a fortnightly salary of $ with the period of service beginning on October X Oct Ordered stationery supplies, such as paper, disks and files to be delivered on October, and paid for by the October Total cost was $ Paid $ cash for advertising to promote the business. Oct Received ordered goods. Began seeing clients. Oct Government steps up attempts to get all sole Legal Practitioners to accept a $ grant in return for agreeing to certain quality assurance measures and undertaking a certain level of voluntary legal aid. Jobeth sent a letter off for the information. Oct Paid the telephone bill for $ and the electricity bill of $ Oct Purchased birthday present for mother for $ Oct Paid legal secretarys salary Oct Sent two cheques one to Simpsons Stationery Supplies to pay off the full amount owing and one to the landlords local business centre Oct Her work performed for October was charged out as shown below. The two columns represent those clients who paid cash immediately and those who requested that their bills be put on one week's credit. Cash Credit Total Oct $ $ $ Oct $ $ $ Oct $ $ $ Oct $ $ $ Total $ $ $ Oct By the end of the month, Jobeth had received $ from the clients who had received credit. Required: Using a worksheet, record the above transactions and prepare the financial statements for Jobeth Marshall at October Office waiting room furniture is depreciated using the straightline method. Estimated scrap value is $ with a useful life of years. The computer and photocopier are depreciated using the reducing balance method at pa and pa respectively. Advise Jobeth on the results of her first month of business.
Date
Transaction Details
Sep
Received a capital payout of $ from the partnership with which she used to work. She decided that she needed to invest
$ in BHP shares as part of her personal share portfolio and deposit the rest of the payout into a separate business bank account.
Oct
Entered into a rental agreement with the local business centre to lease a two connecting rooms from which to run the law practice. The rental is $ per month in arrears. She paid a deposit bond of $
Purchased the following office equipment total $ office and waiting room furniture $ a computer $ and second hand photocopier $ Total was paid in cash.
Oct
Employed a legal secretary to act as her assistant and receptionist. Agreed on a fortnightly salary of $ with the period of service beginning on October X
Oct
Ordered stationery supplies, such as paper, disks and files to be delivered on October, and paid for by the October Total cost was $
Paid $ cash for advertising to promote the business.
Oct
Received ordered goods. Began seeing clients.
Oct
Government steps up attempts to get all sole Legal Practitioners to accept a $ grant in return for agreeing to certain quality assurance measures and undertaking a certain level of voluntary legal aid. Jobeth sent a letter off for the information.
Oct
Paid the telephone bill for $ and the electricity bill of $
Oct
Purchased birthday present for mother for $
Oct
Paid legal secretarys salary
Oct
Sent two cheques one to Simpsons Stationery Supplies to pay off the full amount owing and one to the landlords local business centre
Oct
Her work performed for October was charged out as shown below. The two columns represent those clients who paid cash immediately and those who requested that their bills be put on one week's credit.
Cash
Credit
Total
Oct
$
$
$
Oct
$
$
$
Oct
$
$
$
Oct
$
$
$
Total
$
$
$
Oct
By the end of the month, Jobeth had received $ from the clients who had received credit.
Required:
Using a worksheet, record the above transactions and prepare the financial statements for Jobeth Marshall at October
Office waiting room furniture is depreciated using the straightline method. Estimated scrap value is $ with a useful life of years. The computer and photocopier are depreciated using the reducing balance method at pa and pa respectively.
Advise Jobeth on the results of her first month of business.
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