Young Man Inc Porter Solution - 1,500 Interest 2,000 Tax...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ASSETS LIABILITIES EQUITY REVENUE EXPENSES Cash Clothing Inventory Bank Loan Common Stock Retained Earnings Revenue Rent Expense Peter's Investment 50,000 50,000 Loan from Bank 50,000 50,000 (756,870) 4,560 200 54,600 3,000 6,570 (498,790) (20,000) 10,250 36,000 110,400 2,200 4,500 5,800 Sales 43,141 637,000 680,141 (19,110) 19,110 Returns 28,560 28,560 Used Vouchers (26,000) (26,000) 634,580 (634,580) (10,920) 10,920 (2,190) 2,190 (1,500) 1,500 750 750 500 500 599,500 599,500 Purchase Returns (4,560) (4,560) (3,840) 3,840 Interest 2,000 2,000 CGS (470,440) 470,440 1,741 2,420 1,470 124,500 200 54,600 (10,920) 3,000 (1,500) 6,570 (2,190) 97,400 2,560 2,000 30,000 50,000 680,141 2,560 470,440 10,250 19,110 36,000 110,400 2,200 3,840 5,000 5,800 13,110 1,500 2,000 Balance Sheet Income Statement Cash 1,741 AP 97,400 Revenue 680,141 AR 2,420 Vouchers 2,560 Returns (2,560) Off Sup. 1,470 Int Pay 2,000 Net Revenue 677,581 Inventory 124,500 Loan 30,000 CGS 470,440 Prepaid Ins 200 Shipping 10,250 F&F 54,600 Common Stock 50,000 Credit Card Fees 19,110 A/D (10,920) RE (2,069) Rent 36,000 Website 3,000 Wages 110,400 A/A (1,500) Insurance 2,200 Computer 6,570 Office Supplies 3,840 A/D (2,190) Utilities 5,000 Advertising 5,800 TOTAL 179,891 179,891 Depreciation 13,110 Amortization
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1,500 Interest 2,000 Tax Inc (2,069) Taxes- Net income (2,069) Accounts Receivable Of ice Supplies Inventory Prepaid Insurance Furniture and Fixtures Furniture and Fixtures - Accum. Depr. Website Cost Website - Accum. Amort. Computer and Cash Register Computer and Cash Register - Accum. Dep. Accounts Payable Unused Vouchers Interest Payable Sales Returns Cost of Goods Sold Shipping for Inventory Purchases Credit Card Fees Wages and Salaries Insurance Expense Of ice Supplies Expense Utilities Expense Advertising Expense Depreciation Expense Amortization Expense Interest Expense Disbursement during the year Record Credit Card Fees Col ections from Accounts Receivable Depreciation - Furniture and Fixtures Depreciation - Computer and Cash Register Aamortization of Website Cost Of ice Supplies purchased in May Utilities Bil Received in May Inventory purchased (on credit) To adjust for of ice supplies used A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH AI AJ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern