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Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of
Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $22,000 cash. After those seven transactions, the ledger included the following accounts with normal balances. Cash Office supplies Prepaid insurance $ 40,427 1,140 4,800 Office equipment 14,300 Accounts payable 14,300 Common Stock 22,000 Dividends 3,903 Engineering fees earned 37,000 Rent expense 8,730
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