Stockholders equity balance forbills business

Assignment Help Accounting Basics

Reference no: EM13256741

Bill's Mobile Golf Repair Inc. started business in June,2008. Bill brings his truck to local golf courses to offer onthe spot club repair. Bill needs help with his accountingrecords and has hired you to perform all recording keeping usingthe cash basis of accounting.

June 1	Bill Invested $65,000 into the business in exchange forstock
June 3	The company borrowed $10,000 from Capital Bank
June 5	Purchased a custom truck for $43,000
June 7	Paid for business insurance covering 3 years for $3,600
June 10	Paid for advertising in the News & Disturber for $5,500
June 15	Received cash for services rendered in the amount of $8,300
June 20	Paid $5,000 for additional tools, including installation in thetruck
June 22	Paid wages of $4,000 and related payroll taxes of $1,200
June 30	Received cash for services rendered in the amount of $7,000

What was the ending Stockholder's Equity balance for Bill's business?

Reference no: EM13256741

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