AD Enterprise was established in June 2023. During the first month of the operation of the business,
Question:
AD Enterprise was established in June 2023. During the first month of the operation of the business, these events and transactions occurred:
June 1 Mr. AD invested $100,000 cash in exchange into the business.
June 2 Purchased a used car for $15,000 cash for use in business.
June 3 Rented office premises paying $10,500 cash.
June 4 Purchased office supplies on account for ACD Ltd $5800.
June 7 Purchased inventories from NPP Ltd worth $38,000 on credit.
June10 Sold inventories worth $12,000 to a client for $15,000 on account.
June17 Paid insurance $700 cash.
June20 Paid salary $1000 by cash.
June 30 Paid ACD Ltd.
Required: Record each transaction in the appropriate columns of your worksheet for the first month of operation of AD Enterprise.
Interpreting and Analyzing Financial Statements
ISBN: 978-0132746243
6th edition
Authors: Karen P. Schoenebeck, Mark P. Holtzman