In: Accounting
create a balace sheet and income statement acc1 |
accounts recieveable |
6,100 |
|
acc2 | supplies | 1,600 | |
acc3 | Unearned Catering Fees | 5,250 | |
acc4 | accounts payable | 3,400 | |
acc5 | Common Stock | 18,000 | |
acc6 | Catering Fees Earned | 10,550 | |
acc7 | Wages Expenses | 4,025 | |
acc8 | Delivery van Expense | 850 | |
acc9 | acc. Dep. Equipment | 45 | |
acc10 | dep. Expense Equipment | 45 | |
acc11 | Dividends | 2,000 | |
acc12 | dep. Expense delivery van | 105 | |
acc13 | insurance expense | 180 | |
acc14 | equipment | 3,240 | |
acc15 | prepaid insurance | 1,980 | |
acc16 | rent expense | 780 | |
acc17 | Delivery van | 3,780 | |
acc18 | prepaid rent | 1,560 | |
acc19 | wages payable | 525 | |
acc20 | acc. Dep. Delivery van | 105 | |
acc21 | supplies expense | 3,500 | |
acc22 | Cash | 8,130 | |
acc23 | Totals | 37,875 | 37,875 |
Income Statement | |||
Revenue | |||
Catering Fees Earned | 10,550.00 | ||
Expenses | |||
Wages Expenses | 4,025.00 | ||
Delivery Van Expenses | 850.00 | ||
Depreciation Expense - Equip. | 45.00 | ||
Depreciation Expense - Delivery Van | 105.00 | ||
Insurance Expense | 180.00 | ||
Rent Expense | 780.00 | ||
Supplies Expense | 3,500.00 | 9,485.00 | |
Net Income | 1,065.00 | ||
Balance Sheet | |||
Assets | |||
Current Assets | |||
Cash | 8,130.00 | ||
Accounts Receivable | 6,100.00 | ||
Supplies | 1,600.00 | ||
Prepaid Insurance | 1,980.00 | ||
Prepaid Rent | 1,560.00 | 19,370.00 | |
Property, Plant & Equipment | |||
Equipment | 3,240.00 | ||
Acc. Dep. - Equip. | (45.00) | 3,195.00 | |
Delivery Van | 3,780.00 | ||
Acc. Dep. -Delivery Van | (105.00) | 3,675.00 | 6,870.00 |
Total Assets | 26,240.00 | ||
Liabilities & Stockholders' Equity | |||
Liabilities | |||
Current Laibilities | |||
Accounts Payable | 3,400.00 | ||
Unearned Catering Fees | 5,250.00 | ||
Wages Payable | 525.00 | 9,175.00 | |
Other Liabilities | - | ||
Total Liabilities | 9,175.00 | ||
Stockholders' Equity | |||
Common Stock | 18,000.00 | ||
Retained Earnings | (935.00) | ||
Total Stockholders' Equity | 17,065.00 | ||
Total Liabilities & Stockholders' Equity | 26,240.00 | ||
Statement of Retained Earnings | |||
Beg. Balance | - | ||
Add: Net Income | 1,065.00 | ||
Sub-total | 1,065.00 | ||
Less: Dividend | (2,000.00) | ||
Ending Balance | (935.00) |