Professional Documents
Culture Documents
- Credit: money that a bank or business will allow a person to use and then pay back in the
future
June 1: Joan Miller invests $40,000 in cash to form Miller Design Studio.
Prepaid rent
June 3 $3,200
June 5: Receives office supplies ordered on 2/6, and invoice for $5,200
Prepaid rent
June 3 $3,200
Office supplies
June 5 $5,200
June 6 Purchases office equipment, $16,320; pays $13,320 in cash and agrees to pay rest in the
next month
Prepaid rent
June 3 $3,200
Office supplies
June 5 $5,200
Office equipment
June 6 $16,320
June 9 Makes a partial payment of the amount owed office supplies received on June 5, $2,600
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
Prepaid rent
June 3 $3,200
Office supplies
June 5 $5,200
Office equipment
June 6 $16,320
June 10 performs a service for an investment advisor by designing a series of brochures and
collects a fee in cash, $2,800
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 9 $2,600
Office supplies
June 5 $5,200
Office equipment
June 6 $16,320
June 15 performs a service for a department store by designing a TV commercial bills for the fee
now but will collect the fee later, $9,600
Assets = Liabilities + Owner’s
Equity
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 9 $2,600
June 15 $9,600
Office supplies
June 5 $5,200
Office equipment
June 6 $16,320
A/c Receivable
June 15 $9,600
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 15 $9,600
Office supplies
June 5 $5,200
Office equipment
June 6 $16,320
A/c Receivable
June 15 $9,600
June 22 Receives cash from customer previously billed on June 15, $5,000
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 22 $5,000
Office supplies
June 5 $5,200
Office equipment
June 6 $16,320
A/c Receivable
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 15 $9,600
Office equipment
June 6 $16,320
A/c Receivable
June 30 Receives but does not pay, the utility bill that is due next month $680
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 30 $680
June 15 $9,600
A/c Receivable
June 1 $40,000 June 3 $3,200 June 9 $2,600 June 5 $5,200 June 1 $40,000
June 30 $2,800
June 15 $9,600