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To get the business going, Nathan decided to invest heavily in advertising. He spent $12,000...

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Accounting

To get the business going, Nathan decided to invest heavily in advertising. He spent $12,000 on advertising aimed at consumers. Nathan also purchased computers, printers, and other equipment needed for his retail store for $6,000. He estimated that the equipment he purchased can be used for about five years before maintenance costs would be too high and they would need to be replaced. All equipment is estimated to be worth 10% of their original cost at the end of their life.
At the end of the first year of business, Nathan had received $150,000 in cash from customers, of which $10,000 was cash paid in advance for pre-ordered toys.
A review of Nathan's checkbook shows he paid the following (in addition to those mentioned previously) during the first year of business:
\table[[Toys Beginning Inventory, Jan 1,$70,000
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