ACC 100 Lecture Notes - Lecture 8: Operating Cash Flow, Profit Margin, Office Supplies
7 Dec 2017
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The following transactions are for ur-lawn-care inc. , a new business you started this summer to earn money for tuition. You also sign up for a free business credit card (no monthly or annual fees): set up your business name using services ontario, paying by credit card, : purchased of garden supplies using a business credit card, rent a lawn mower and weed whacker for per month including hst. You pay for the rental in advance using the business credit card: after knocking on all the doors in your neighbourhood, you provide services to some of your neighbours, earning for the irst 2 weeks. Three customers still owe you but the remainder paid in cash: you purchase a 6 month insurance policy for , plus 8% sales tax, paying cash. The policy will start at the beginning of next month: you hire a friend to help you with the business for this month.
