Review Questions Q.1 You start a consulting business on July 1 and had the below-noted transactions during the month. 1. You invested $2,000 of cash into a business. 2. You borrowed $4,000 from your parents. The loan must be repaid by Oct. 1. 3. Registered a business name with Service Ontario, $60, using a credit card. card at the end of this month. 4. Purchased office supplies for $500, plus HST, using a credit card. 5. Paid cash for 1000 business cards from Staples for $60. 6. Received cash from customers for consulting services provided, $1,200. 7. Attended a one-day conference to network and paid the conference fee of $300, plus HST, using the credit card. 8. Used up half of the business cards during the conference. 9. At the end of the month you had $250 of office supplies remaining. 10. Paid the credit card for all business expenses using cash. Retained earning Assets Labilities Owner capital Dividends Proti Expenses Revenue Trans Trans. I Trans Trans 4 Transs Tran Trante Trans 10 Total