Question: From part (2) to part (4), how do I put them in Xero? Thank you! OFFICE MEMORANDUM Date: 01/01/20 To: Michael Brown SUBJECT: 1. Before
OFFICE MEMORANDUM Date: 01/01/20 To: Michael Brown SUBJECT: 1. Before getting started, update your organisation's name into your student number + MBB Catering Supplies (e.g. 123455 MBB Catering Supplies) 2. Michael Brown donated his motor vehicle to the firm. Original cost: $15,000. Current market value: $3,000 in exchange for ordinary shares @$1 per share 3. Arranged an interest only loan with Grand Bank for $8,000; interest at 5% p.a. payable quarterly. Principal amount to be repaid 31 December 2022. Loan amount deposited in account today. 4. Depreciate the vehicle equally over 6 years with no residual value. Signed: Michael Brown
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