Question
Mathew and David started a Company MD Housing, Inc.. They Provide Rental Housing Services. They prepare their financials on a monthly basis. 1/1 Mathew Contributed
Mathew and David started a Company MD Housing, Inc.. They Provide Rental Housing Services. They prepare
their financials on a monthly basis. 1/1 Mathew Contributed $10,000 in exchange for company stock in MD Housing Inc.
1/2 David contributed $6,000 of Equipment and $4,000 in cash in exchange for company stock in MD Housing Inc.
1/3 - MD Housing paid $1,800 for a 1 year insurance policy from Farmers Insurance. The policy effective start date is 1/1/X1.
1/4 MD Housing went to Lowes and Purchased $18,000 worth of Equipment. They had to put 10% cash down and financed the remainder of the purchase price with a 5 year Note.
1/5 MD Housing purchases $1,500 of supplies on account from Amazon.com
1/6 MD Housing pays $2,000 for Office Rent.
1/7 MD Housing provides services to Client #1. They pay MD Housing $3,300 in cash
1/8 MD Housing received $36,000 from Client #2 for 12 months of housing that has an effective start date of 1/1/X1.
1/9 MD Housing pays $650 towards the balance they owe to Amazon.com 1/10 MD Housing pays $750 to Advertise in Black Brand Publication. 1/11 MD Housing pays GG Property Solutions $1500 for repair services.
1/12 David and Mathew each receive $500 dividend from MD Housing ($1,000 total). David and Mathew will use these funds for their personal use.
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