Question

In: Accounting

How much cash do I have at the end of period 2, 3, and 4? Please...

How much cash do I have at the end of period 2, 3, and 4?

Please add calculations for each period.

Period Debit or Credit Value Type Account
0 Credit(+) $1,500,000 Equity Startup Capital
0 Debit(+) $1,500,000 Asset Cash
0 Debit(+) $300,000 Asset Property, Plant & Equipment
1 Debit(+) $26,000 Expense Operating Costs
1 Credit(-) $26,000 Asset Cash
1 Credit(+) $126,114 Revenue Revenue
1 Debit(+) $126,114 Asset Cash
1 Debit(+) $240,000 Asset Inventory
1 Credit(+) $240,000 Asset Cash
1 Debit(+) $67,261 Expense Cost of Goods Sold
1 Credit(-) $67,261 Asset Inventory
2 Debit(+) $26,000 Expense Operating Costs
2 Credit(-) $26,000 Asset Cash
2 Credit(+) $473,886 Revenue Revenue
2 Debit(+) $473,886 Asset Cash
2 Debit(+) $90,000 Asset Inventory
2 Credit(+) $90,000 Asset Cash
2 Debit(+) $284,332 Expense Cost of Goods Sold
2 Credit(-) $284,332 Asset Inventory
2 Debit(+) $37,500 Expense Loan Payment - Interest
2 Credit(-) $37,500 Asset Cash
2 Debit(+) $250,000 Liability Loan Payment - Principal
2 Credit(-) $250,000 Asset Cash
2 Debit(+) $40,000 Expense Other Costs
2 Credit(-) $40,000 Asset Cash
2 Debit(+) $6,000 Expense Market Research Costs
2 Credit(-) $6,000 Asset Cash
2 Debit(+) $2,500 Expense Sales Promotion - OKC
2 Credit(-) $2,500 Asset Cash
2 Debit(+) $2,500 Expense Sales Promotion - Tulsa
2 Credit(-) $2,500 Asset Cash
2 Debit(+) $2,500 Expense Sales Promotion - Stillwater
2 Credit(-) $2,500 Asset Cash
2 Debit(+) $2,500 Expense Product Line Brand - OKC
2 Credit(-) $2,500 Asset Cash
2 Debit(+) $2,500 Expense Product Line Brand - Tulsa
2 Credit(-) $2,500 Asset Cash
2 Debit(+) $2,500 Expense Product Line Brand - Stillwater
2 Credit(-) $2,500 Asset Cash
3 Debit(+) $26,000 Expense Operating Costs
3 Credit(-) $26,000 Asset Cash
3 Credit(+) $799,731 Revenue Revenue
3 Debit(+) $799,731 Asset Cash
3 Debit(+) $682,500 Asset Inventory
3 Credit(+) $682,500 Asset Cash
3 Debit(+) $559,812 Expense Cost of Goods Sold
3 Credit(-) $559,812 Asset Inventory
3 Debit(+) $1,500 Expense Market Research Costs
3 Credit(-) $1,500 Asset Cash
3 Debit(+) $2,500 Expense Research & Development - Flavor Varieties
3 Credit(-) $2,500 Asset Cash
3 Debit(+) $5,000 Expense Research & Development - Ingredient Quality
3 Credit(-) $5,000 Asset Cash
3 Debit(+) $15,000 Expense Research & Development - Update Equipment
3 Credit(-) $15,000 Asset Cash
3 Debit(+) $3,750 Expense Sales Promotion - OKC
3 Credit(-) $3,750 Asset Cash
3 Debit(+) $2,500 Expense Sales Promotion - Tulsa
3 Credit(-) $2,500 Asset Cash
3 Debit(+) $5,000 Expense Sales Promotion - Stillwater
3 Credit(-) $5,000 Asset Cash
3 Debit(+) $3,750 Expense Product Line Brand - OKC
3 Credit(-) $3,750 Asset Cash
3 Debit(+) $2,500 Expense Product Line Brand - Tulsa
3 Credit(-) $2,500 Asset Cash
3 Debit(+) $5,000 Expense Product Line Brand - Stillwater
3 Credit(-) $5,000 Asset Cash
4 Debit(+) $26,000 Expense Operating Costs
4 Credit(-) $26,000 Asset Cash
4 Credit(+) $723,876 Revenue Revenue
4 Debit(+) $723,876 Asset Cash
4 Debit(+) $315,000 Asset Inventory
4 Credit(+) $315,000 Asset Cash
4 Debit(+) $381,945 Expense Cost of Goods Sold
4 Credit(-) $381,945 Asset Inventory
4 Debit(+) $1,500 Expense Market Research Costs
4 Credit(-) $1,500 Asset Cash
4 Debit(+) $2,500 Expense Research & Development - Flavor Varieties
4 Credit(-) $2,500 Asset Cash
4 Debit(+) $5,000 Expense Research & Development - Ingredient Quality
4 Credit(-) $5,000 Asset Cash
4 Debit(+) $5,000 Expense Sales Promotion - OKC
4 Credit(-) $5,000 Asset Cash
4 Debit(+) $5,000 Expense Sales Promotion - Tulsa
4 Credit(-) $5,000 Asset Cash
4 Debit(+) $5,000 Expense Sales Promotion - Stillwater
4 Credit(-) $5,000 Asset Cash
4 Debit(+) $5,000 Expense Product Line Brand - OKC
4 Credit(-) $5,000 Asset Cash
4 Debit(+) $5,000 Expense Product Line Brand - Tulsa
4 Credit(-) $5,000 Asset Cash
4 Debit(+) $5,000 Expense Product Line Brand - Stillwater
4 Credit(-) $5,000 Asset Cash

Solutions

Expert Solution

Cash balance at the end of period 2,3,4:

For the period ended 2 For the period ended 3 For the period ended 4
0 Debit(+) $1,500,000 Beginning Debit $1,369,500 Beginning Debit $1,414,231
1 Debit(+) $126,114 3 Debit(+) $799,731 4 Debit(+) $723,876
2 Debit(+) $473,886
Total Debit (i) $2,100,000 Total Debit (i) $2,169,231 Total Debit (i) $2,138,107
1 Credit(-) $26,000 3 Credit(-) $26,000 4 Credit(-) $26,000
1 Credit(+) $240,000 3 Credit(+) $682,500 4 Credit(+) $315,000
2 Credit(-) $26,000 3 Credit(-) $1,500 4 Credit(-) $1,500
2 Credit(+) $90,000 3 Credit(-) $2,500 4 Credit(-) $2,500
2 Credit(-) $37,500 3 Credit(-) $5,000 4 Credit(-) $5,000
2 Credit(-) $250,000 3 Credit(-) $15,000 4 Credit(-) $5,000
2 Credit(-) $40,000 3 Credit(-) $3,750 4 Credit(-) $5,000
2 Credit(-) $6,000 3 Credit(-) $2,500 4 Credit(-) $5,000
2 Credit(-) $2,500 3 Credit(-) $5,000 4 Credit(-) $5,000
2 Credit(-) $2,500 3 Credit(-) $3,750 4 Credit(-) $5,000
2 Credit(-) $2,500 3 Credit(-) $2,500 4 Credit(-) $5,000
2 Credit(-) $2,500 3 Credit(-) $5,000
2 Credit(-) $2,500
2 Credit(-) $2,500
Total Credit (ii) $730,500 Total Credit (ii) $755,000 Total Credit (ii) $380,000
Balance at the
end of perid 2 (i-ii)
$1,369,500 Balance at the
end of perid 3 (i-ii)
$1,414,231 Balance at the
end of perid 4 (i-ii)
$1,758,107

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