Answer:
Q1:
2 Aug. Invested $23,610 cash and equipment valued at $9,550 in the business.
7 Aug. Purchased supplies on account $2750, (Debit an asset account)
8 Aug. Paid warehouse rent of $1050 for the month
8 Aug. Completed a tax assignment and billed client $890 for services rendered
13 Aug. Received $8350 advance on a management consulting engagement.
17 Aug. Received cash of $10, 800 for services completed for Asia Co.
19 Aug. Paid insurance expense for one year, $100 per a week
21 Aug. Enlisted a secretary-receptionist at a salary of $200 per a day payable monthly from 1 Aug, Paid secretary-receptionist for the month.
30 Aug. A count of supplies indicated that $2250 of supplies had been used
30 Aug. Purchased a new cars for $18,350 with personal funds
(The Car will be used exclusively for business purposes.)
Prepaid expensese
Step-by-step explanation:
Prepaid expensese
