The agency proprietor used $25,000 from their private financial savings account to buy widespread shares on October 1.
On account, $8,500 price of baking items had been bought from the service provider on October 1.
The enterprise borrowed $10,000 in money on October 3 in return for a two-year, 6% be aware payable. Principal and curiosity are repaid at maturity.
On October 7, a leasing deal for bakery house was signed. The time period of the contract is one 12 months. The month-to-month lease is $1,500, and the ultimate month’s fee of $1,500 is due in the mean time the lease is signed. The transaction was settled in money. The lease time period runs from October 1 of present 12 months to September 30 of the subsequent 12 months.
10 October: Paid $375 for a enterprise license to the county.
On October 11 I spent $250 on a money register (deemed to be not materials sufficient to qualify as depreciable tools).
The proprietor possesses baking tools, together with an oven and a mixer, which they’ve been utilizing for his or her home-based firm and can now start using on the bakery on October 13. You switch the tools into the agency in return for additional widespread shares, estimating that the tools is presently price $5,000. The machine has an usable life of 5 years.
13 October: Paid $200 for promotional enterprise playing cards and posters.
On October 14, $300 was spent on workplace provides.
On October 15, I employed a part-time assistant for $12 per hour. One pay interval runs from the primary to the fifteenth of the month, whereas the opposite runs from the sixteenth to the top of the month. The primary pay date is the twenty of the month and the second is the 5 of the next month. (On today, no enter is important; offered for informative causes solely.)
October 30: Acquired a $75 phone invoice for the month of October. The due date is November 10.
Paid $1,200 on October 31 for a one-year insurance coverage protection. The coverage is in place from November 1 to October 31.
October 31: Accrued pay acquired by the worker between October 16 and October 31. (See the desk beneath Wage Calculation Knowledge on the finish of this publication.)
On October thirty first, complete bakery gross sales for October had been $15,000 ($5,000 of which was in accounts receivable).
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