Question
On June 1, 20Y6, Hannah Ellis established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the
On June 1, 20Y6, Hannah Ellis established an interior decorating business, Whitworth Designs. During the month, Hannah completed the following transactions related to the business: June 1 Hannah transferred cash from a personal bank account to an account to be used for the business, $48,000. 1 Paid rent for period of June 1 to end of month, $6,510. 6 Purchased office equipment on account, $19,340. 8 Purchased a van for $39,199 paying $6,200 cash and giving a note payable for the remainder. 10 Purchased supplies for cash, $3,260. 12 0253 2 15 24 Received cash for job completed, $16,730. Paid annual premiums on property and casualty Insurance, $4,940. Recorded jobs completed on account and sent invoices to customers, $16,320. Received an invoice for van expenses, to be paid in July, $2,060.
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