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On January 3, 2003, Alemu Haba, an exmanager of the CBE Finfine Branch, established his own consultancy business. He named his business AH Consultancy Services.
On January 3, 2003, Alemu Haba, an exmanager of the CBE Finfine Branch, established his own consultancy business. He named his business "AH Consultancy Services". The objective of the business is to render financial consultancy services to clients on a fee basis. The following business activities occurred during the first month of operations of the business (January 3 to January 31, 2003). 1. FHF'E-\"P' Alemu deposited $20,000 cash in a bank account in the name of his business - AH Consultancy Services. He has $250,000 cash in his personal bank account with Dashen Bank and $50,000 cash in a safe deposit box at his residence. Alemu transferred furniture worth $30,000 from his home for office purposes by AH Consultancy Services. He also has extra home furniture, residential house and personal car worth $620,000, $800,000 and $360,000, respectively. Alemu purchased office supplies worth $5,000 from various suppliers agreeing to pay the sum in the near future. Two-fifth of the supplies will be used for personal purposes while the remaining is for use by AH. Three-fifth of the liability is arranged to be settled from business cash sources. AH received $20,000 cash for consultancy services it rendered to a cash client. AH paid $3,000 cash for advertising aired through ETV. AH forecasted that services fees in the next two weeks will amount to $5,000. AH received $10,000 additional cash investment from Alemu its owner. AH rendered consultancv services worth 3315.000 to clients promising to new in the near
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