Exercse(part2-3).docVIP

Exercise 1: 1. Jasmine Worthy started a haircutting business called Expression. The following events occurred during its first month. a. On August 1, Worthy invested $3000 cash and $15000 of equipment in Expressions. b. On August 2, Expressions paid $600 cash for furniture for the shop. c. On August 3, Expressions paid $500 to rent space in a strip mall for August. d. On August 4, it purchased $1200 of equipment on credit for the shop (using a not payable). e. On August 5, Expressions open for business. Cash received from haircutting services during the first half on August was $825. f. On Au