Season two - Amount quity 40 ayable 108.75 ayable 5.75 28...

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Journal for Season two Debits Date Description Account Amount 1 Form Partnership Cash 40 Owner's Eq 1 Buy 1 Pitcher & 1 Equipment 5.75 Account Pa 1 Purchase supplies Inventories 13.25 Account Pa 1 Sold 56@0.50 Cash 28 Revenue 1 Supplies used Expenses 11.25 Revenue In 2 Purchase supplies Inventories 18 Account pa 2 Sold 54@.50 Cash 27 Revenue 2 Supplies used Expenses 13.86 Inventory 3 Purchase supplies Inventory 21 Account Pa 3 sold 71@.50 Cash 35.5 Revenue 3 Supplies used Expenses 14.8 Inventory 4 Paid Store account Account Payable 58 Cash 4 Purchase supplies Inventories 11.5 Account pa 4 Sold 65@.60 Cash 39 Revenue 4 Supplies used Expenses 14.6 Inventory 5 Purchase supplies Inventories 42 Account pa 5 Sold 55@.70 Cash 38.5 Revenue 5 Supplies used Expenses 16.91 Inventory 6 Purchase supplies Inventories 11.25 Account pa 6 Sold 43@.70 Cash 30.1 Revenue 6 Supplies used Expenses 14.81 Inventory Total Debits 180.1 Total Cred
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Credits Accounts
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Unformatted text preview: Amount quity 40 ayable 108.75 ayable 5.75 28 Inventory 11.25 ayable 18 27 13.86 ayable 21 35.5 14.8 58 ayable 11.5 39 14.6 ayable 42 38.5 16.91 ayable 11.25 30.1 14.81 its 180.1 Statement of Cash Flows for Season One Cash Flow from Operation Revenue 1600 Accounts Payable 110 Net cash provided by operations 1490 Cash Flow from Operation Investment By Owners 110 Net cash provided by financing 110 Net increase in cash 1600 Cash Day 0 Cash Day 6 1600 Income Statement for Season Two Revenue 343.35 Expenses 101.31 Earnings 381.48 Balance Sheet Assets Cash 343.35 Inventories 10.74 Equipment 26.25 Total Assets 380.34 Liabilities Accounts Payable 44.25 Total Liabilities 44.25 Equity Owner's Capital 40 Retain Earnings 296.09 Total Equity 36.09 Total Equity and Liability 380.34...
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This note was uploaded on 07/07/2011 for the course BUSINESS 350 taught by Professor Mitchell during the Fall '09 term at Troy.

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Season two - Amount quity 40 ayable 108.75 ayable 5.75 28...

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