Smith’s Repairs opened its doors to Hal Smith in March of this year.
The following transactions took place during March and were captured
In the books of the company:
1. Smith invested $25,000 cash into the business.
2. Smith provided $100,000 in equipment for the company.
3. To rent office space, the company spent $2,000 cash
4. For repair services, the company was awarded $16,000 cash
5. This month’s salaries cost $6,200.
6. On behalf of customers, the company offered $3,000 in services
7. For monthly utility bills, the company received $500 cash.
8. In advance, the company was paid $3,100 in cash
Services for a Customer
9. Smith received $5,000 from the company for personal use
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