Bank Furniture Rent Wages &
Cash Capital T/P Supplies Website
Loan & fixtures Expense Salaries
1-Jun-11 50000 50000
50000 50000
-498790 498790
-10250 10250
-50000 50000
-4600 4600
-3000 3000
-36000 36000
-110400 110400
-2400
-4560 4560
-5800
-3870
-2700
-4500
-20000 -20000
43141
-19110
634580
750 750
500
599500
-4560
-3840
1741 50000 30000 1094980 11720 54600 3000 36000 110400
Accumula
Advertisin
Insurance Equipmen Utilities Dep./ ted Credit Unused
g Revenue T/R
Premium t expense Amort. Dep./Amo card fees vouchers
expense
rt.
2400
5800
3870
2700
4500
680141 637000
19110
28560
-26000
634580
10920 -10920
1290 -1290
900 -900
1500 -1500
500
2400 5800 6570 5000 680141 1271580 14610 -14610 19110 2560
Sales Clothing Supplies Interest Interest
COGS
Returns inventory Expense Payable expense
28560
-26000
599500
-4560
3840
2000 2000
-470440 470440
2560 124500 3840 2000 2000 470440
Description Amount
Revenues 680141
Sales Returns -2560
Net Sales 677581
Cost of Goods Sold -470440
Gross Profit 207141
Shipping for Inventory Purchases -10250
Credit Card Fees -19110
Rent Expense -36000
Wages and Salaries -110400
Insurance Expense -2200
Office Supplies Expense -3840
Utilities Expense -5000
Advertising Expense -5800
Depreciation Expense (Furniture and Fixtures) -10920
Depreciation Expense (Computer and Cash Register) -2190
Amortization Expense -1500
Interest Expense -2000
Total Operating Expenses -209210
Operating Income (Loss) -2069
Net Income (Loss) -2069
Balance Sheet Amount
Assets
Cash 1741
Accounts Receivable 2420
Office Supplies Inventory 1470
Clothing Inventory 124500
Prepaid Insurance 200
Furniture and Fixtures 54600
Accumulated Depreciation - Furniture and Fixtures -10920
Website Cost 3000
Accumulated Amortization - Website -1500
Computer and Cash Register 6570
Accumulated Depreciation - Computer and Cash Register -2190
Total Assets 178891
Liabilities & Equity
Accounts Payable 97400
Unused Vouchers 2000
Interest Payable 2000
Bank Loan 30000
Total Liabilities 131400
Equity
Common Stock 50000
Retained Earnings -2509
Total Equity 47491
Total Liabilities & Equity 178891
