Problem
Client A retained you to commence a claim brought in Small Claims Court. Client A provided you with a retainer in the amount of $1,000.00.
• What account must you deposit the money to, and why? Cite the applicable LSO By-Law section and subsection.
• What specific journal(s) and ledger(s) are used to record the transaction?
You have prepared a Statement of Claim, a Defence to the Defendant's Claim, and incurred disbursements in Client A's matter.
You have performed 18 hours of work on the matter and your administrative assistant has performed 4 hours of work on the matter. How many hours of work are you able to bill Client A for?
• List two examples of disbursements which you are entitled to invoice the client for.