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olination you need to prepare your responsibility to use your kn the relevant accounting information. e Tony is not an accountant his does not know exactly ed to prepare the financial statements. Therefore, it is use your knowledge of financial accounting to determine From: Tony (tony@finitophotography.com Date: Monday, August 31, 2019 Re: Financial Information for August Thanks so much again for helping o much again for helping me out. I don't have any idea how to keep the books" and Prepare those confusing financial statements. All I know is that my bank wants them! I wrote down everything I did in August, since I wasn't sure what you would need, so here it is: August 1: treurd or not). I invested $29,000 cash and $21.000 of photo/video equipment into the business 1: Purchased $4,000 worth of office equipment on account. Paid landlord $1,200 cash for the month to rent the business space. Purchased $1,500 of office supplies for the business by paying cash. I paid my landlord $700 for the month to rent my loft apartment one block away. 10: Paid $2,900 cash for a 12-month insurance policy, which is usually priced at $3,625 but we received a new customer discount. Coverage begins August 11th Paid $4,200 cash for two weeks' salaries earned by employees. Spoke with festival officials regarding the Redondo Beach Art Festival, permit fee to enter is $300. Still need to think about whether or not to enter. 18: Received $21,500 cash from corporate client, CocoReno Athletic Wear, for completing advertising prints. 22: Billed band, The Verb, $6,700 for photo shoot at local club. Swiggs Bar & Grille paid a 10% deposit for their menu and web photo shoot 5000:1 scheduled for the September 19th. The total quote for this shoot was $3,800. 29: Meet with Keith Barnook and Betsy Alder regarding shooting their wedding in Costa Rica this December. My quote for this event is $8,300. The couple will make a decision in September and provide me their deposit at that time. Bi-weekly salaries of $4,200 was paid. I took money out of $6,000 for myself. 29: Paid $550 cash for minor repairs to the video equipment. I got a deal since a friend repaired the equipment, normally it would have cost $1.500. 30: Received the August utility bill. It is for $95. I will pay it next month since it is not due until September 23rd Interviewed by local paper for a piece regarding new businesses in the area. Usually the paper charges $85 to run a quarter page ad but this article will run free of charge to us and be a great source of advertising! 24: 26: 27: 31