Isabel lopez started biz consulting a new business and

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Reference no: EM13586909

Isabel Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.

I. Lopez invests $70,000 cash and office equipment valued at $10,000 in the business.
Purchased a $150,000 building to use as an office. Biz paid $20,000 in cash and signed a note payable
promising to pay the $130,000 balance over the next ten years.
Purchased office equipment for $15,000 cash.
Purchased $1,200 of office supplies and $1,700 of office equipment on credit.
Paid a local newspaper $500 cash for printing an announcement of the office's opening.
Completed a financial plan for a client and billed that client $2,800 for the service.
Designed a financial plan for another client and immediately collected a $4,000 cash fee.
Lopez withdrew $3,275 cash for personal use.
Received a $1,800 cash payment from the client described in transaction f.
Made a $700 cash payment on the equipment purchased in transaction d.
Paid $1,800 cash for the office secretary's wages.

Reference no: EM13586909

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