Since you purchased the business on 6/15, you would start entering business activity as of 6/15. You would not enter any business income and expenses prior to 6...

To record the journal entry for year end amortization, calculate the following:$11k/180 months * 12 months = $733 of amortization expense recorded over the cour...

To keep it simple, treat the $11,000 paid for business as an equal contribution amongst all partners. Loaning the other two shareholders money to contribute cap...