date Cash date date Notes Payable date Business License exp Common Stock 1-Jul 10,000.00 10,000...


date	Cash		date	date	Notes Payable		date		Business License exp				Common Stock
1-Jul	10,000.00					10,000	3-Jul	10-Jul	375.00					10,000	1-Jul
3-Jul	10,000.00													6,000	13-Jul
		3,000.00	7-Jul		-				375.00	-			-
		375.00	10-Jul				Balance	Balance	375.00					-	Balance
		250.00	11-Jul
		200.00	13-Jul
		300.00	14-Jul
		2,400.00	31-Jul
31-Jul	10,000.00
		120.00	5-Aug
8-Aug
		75.00	10-Aug
18-Aug	3,000.00
		1,500.00	15-Aug
		8,500.00	20-Aug		Accounts Rec.				Insurance expense
		480.00	20-Aug	31-Jul	5,000.00
		300.00	22-Aug			3,800.00	8-Aug
31-Aug	12,500.00					3,000.00	18-Aug
		10,000.00	1-Sep	31-Aug	7,500.00
		420.00	5-Sep			4,000.00	8-Sep
		60.00	7-Sep	30-Sep	6,000.00
8-Sep	4,000.00
		75.00	10-Sep		########	########
		5,000.00	13-Sep	Balance	7,700.00
		1,500.00	15-Sep
15-Sep	68.00
		456.00	20-Sep

		122.00	20-Sep
24-Sep	153.00
		151.25	30-Sep
30-Sep	14,000.00

	63,721.00	35,284.25
Balance	28,436.75


	Misc. expense				Baking equipment					Advertising expense
11-Jul	250.00			13-Jul	6,000				13-Jul	200.00

	250.00	-			6,000.00	-				200.00	-
Balance	250.00			Balance	6,000.00				Balance	200.00



	Baking supplies				Office supplies					Rent expense
1-Jul	6,500			14-Jul	300				7-Jul	1,500
15-Aug	5,000			22-Aug	300				15-Aug	1,500
11-Sep	7,000								15-Sep	1,500



	18,500.00	-			600.00	-				4,500.00	-
Balance	18,500.00			Balance	600.00				Balance	4,500.00



	Prepaid rent				Prepaid insurance					Bakery Sales
7-Jul	1,500			31-Jul	2,400						15,000	31-Jul
											20,000	31-Aug
											20,000	30-Sep
	1,500.00	-			2,400.00	-				-	55,000.00
Balance	1,500.00			Balance	2,400.00						55,000.00	Balance


	Accounts payable				Wages expense					Wages payable
		6,500.00	1-Jul	31-Jul	120						120	31-Jul
		75	30-Jul	15-Aug	480				5-Aug	120
10-Aug	75			31-Aug	420						480	15-Aug
		5,000	15-Aug	15-Sep	456				20-Aug	480
20-Aug	8,500			30-Sep	480						420	31-Aug
		75	31-Aug						5-Sep	420
10-Sep	75										456.00	15-Sep
		7,000.00	11-Sep						20-Sep	456
13-Sep	5,000										480.00	30-Sep



	13,650	18,650			1,956	-				1,476	1,956
		5,000	Balance	Balance	1,956						480	Balance

					Dividends					depreciation expense
	Telephone expense			1-Sep	10,000
30-Jul	75
31-Aug	75

					10,000	-								acc dep
				Balance	10,000

	150	-								Interest expense
Balance	150



	baking supplies expense									COGS FIFO				Interest payable
									15-Sep	48.00
									24-Sep	109.60


	misc supplies expense
										157.60	-
									Balance	157.60




	Merchandise Sales
		68.00	15-Sep						Merch. Inv. FIFO
		153.00	24-Sep					7-Sep	60.00
										48.00	15-Sep
								20-Sep	122.00
	-	221								109.60	24-Sep
		221	Balance					30-Sep	151.25
									333.25	157.60
								Balance	175.65

Peyton Approved

Statement of Retained Earnings

For Qtr. Ending 9/30/2018

Beginning Balance:

-

plus Net Income (FIFO)

less Dividends:

Ending Balance (FIFO):

-

Peyton Approved
Balance Sheet
As of September 30, 2018

Assets			Liabilities and Owners' Equity
	Current Assets:			Current Liabilities:



				Total Current Liabilities	-

				Long-Term Liabilities:

				Total Long-Term Liabilities:	-

	Total Current Assets	-		Total Liabilities:	-


	Long-Term/Fixed Assets:			Equity:

	Less Accumulated Depreciation

	Total Long-Term/Fixed Assets	-

	Total Assets:	-		Total Equity	-



				Total Liabilities & Equity	-

Expert Solution

Income statement
Bakery sales	55000
Mercandise sales	221	55221
Less: expenses
Cost of good sold	157.6
Business licence expense	375
Advertsiing expenses	200
Rent expenses	4500
Wages expenses	1956
Telephone expenses	150
Mis exp	250
Total expenses		7588.60
Net Income		47632.40

Peyton Approved
Statement of Retained Earnings
For Qtr. Ending 9/30/2018

Beginning Balance:	0
plus Net Income (FIFO)	47632.40
less Dividends:	-10000
Ending Balance (FIFO):	37632.4

Peyton Approved
Balance Sheet
As of September 30, 2018

Assets		Liabilities and Owners' Equity
Current Assets:		Current Liabilities:
Cash	$28,436.75	Accounts payable	5000
Accounts receivable	7700	Wages payable	480
Inventory	175.6	Total Current Liabilities	5480
Baking Supplies	18500	Long-Term Liabilities:
Office supplies	600	Notes payable	10000
Prepaid Rent	1500	Total Long-Term Liabilities:	10000
Prepaid Insurance	2400
Total Current Assets	$59,312.35	Total Liabilities:	15480
Long-Term/Fixed Assets:		Equity:
Baking Equipment	6000	Common stock	16000
Less Accumulated Depreciation		Retained Eranings	37632.4
Total Long-Term/Fixed Assets	6000	Total Equity	53632.4
Total Assets:	$65,312.35	Total Liabilities & Equity	69112.4

As per the T accounts the Balance Sheet can be preapred. There is some information missing

ekkarill92 answered 1 year ago

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