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Ph1IP2 DannyandMaryJane - Phase 1 Individual Project 2...

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Phase 1 Individual Project 2 1 Running Head: PHASE 1 INDIVIDUAL PROJECT 2: DANNY & MARY JANE BUSINESS Phase 1 Individual Project 2: Danny & Mary Jane Business Chris Normand Colorado Technical University Accounting 201-02 Prof. Steven Horan February 26, 2010
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Phase 1 Individual Project 2 2 Phase 1 Individual Project 2: Danny & Mary Jane Business Danny and Mary Jane, First, let me congratulate you both on your seemingly successful business venture. In addition, I thank you for using my company as your business’ accounting firm. I anticipate a wonderful business relationship between our companies for many years to come. The following is a summary of your business transactions for the month of May. You started your business on May 1 with a deposit of $50,000.00 to your business checking account, which is reflected as your investment in the business and is accounted for in the owner’s capitol. Total deposits to that account totaled $8400.00, which are your revenues. At the end of the month, after deducting your expenditures, you ended the month with a balance of $24,450.00. Now, do
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