QUE 1:

The following business transactions relate to Ray Rosa (financial planner) for his first month of business operations in August 2015: (ignore GST)

2015

August

1Commenced business operations with a $300 000 cash injection of personal funds.

2Paid monthly rent $1500.

4Purchased office stationery $2000 on credit from Stationery Plus and record this as supplies expense. Ray prefer to directly record the supplies as expense as usually all supplies will be used by the end on the month.

7Purchased office equipment on credit from Supplies Inc.$10 000.

9Sent invoice to client M. Birt for services $3000.

11Purchased MYOB software for laptop computer $700 cash.

13M.Birt paid amount outstanding.

14Met with prospective client and negotiated the provision of financial advice for client and family quoting $5000.

17paid car parking permit $220.

19Withdrew cash from business $2000 for personal use.

22Paid WWW Ltd for monthly internet use $182.

29Received interest from business bank account $15.

Prepare a worksheet for the month of August 2015 from the above information.

Do this by adding your answer directly into the table below.

The columns in tableare provided in this order, but if you prefer to do it differently it's Ok but you don'tneed to.

Note that Ray Rosa is a Financial Planner, it is a 'Service Business' so it doesn'thave theinventory and cost of goods sold accounts.

Assets

Liabilities

Owner's equity

Trans date

Cash

Accounts

Receivables

Equipment

Accounts payable

Capital

Revenues

(-)Expenses

Short Description

Total