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On July 1, 2022, Mr. X incorporated a paintng business near Green University of Bangladesh. Mr. X was the sole shareholder of the company, which
On July 1, 2022, Mr. X incorporated a paintng business near Green University of Bangladesh. Mr. X was the sole shareholder of the company, which he named Green Painting House. During July 2022 , Green Painting engaged in the following transactions: a. Green Painting received cash of Tk. 350,000 from Mr. X and issued common stock to Mr. X. b. The business paid Tk. 175,000 cash to acquire a truck. c. The business purchased supplies costing Tk. 15,500 on credit. d. The business painted a house for a client and received Tk. 30,000 cash. e. The business painted a house for a client for Tk. 40,000 . The client agreed to pay next week. f. The business paid Tk. 800 cash toward the supplies purchased in transaction c. g. The business paid employee salaries of $1,000 in cash. i. The business collected Tk. 20,500 from the client in transaction e
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