Question
Mr. Jones invested $10,000 in his new business by opening a business checking account with money from his personal account. Mr. Jones took his personal
Mr. Jones invested $10,000 in his new business by opening a business checking account with money from his personal account.
Mr. Jones took his personal computer from his home to use in the business. The computer was worth $3,000.
Mr. Jones paid rent for office space of $600 for the first month.
Mr. Jones bought office supplies from Office Max for $450.
Mr. Jones bought a new printer on account for $800.
Mr. Jones purchased a copy machine valued at $2,000 by paying $200 down and the rest on account.
Mr. Jones created some flyers for Martin Corporation and billed them $900.
Mr. Jones printed menus for Knox Restaurant and was paid $400 in cash.
Mr. Jones withdrew $50 for personal use.
Martin Corporation paid $300 on their account.
Mr. Jones paid for computer repairs costing $100.
Mr. Jones paid the light bill which was $75.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started