362 Inputs: 363 364 365 366 367 368 You purchase sneakers at $140 and after painting and bedazzling them you sell them for $240. You pay no taxes and Net Income Change in Equity. Business Transactions Transaction 369 370 Date 371 1/25/2019 372 2/1/2019 373 2/9/2019 374 2/12/2019 375 2/15/2019 376 2/25/2019 377 3/1/2019 378 3/15/2019 379 4/1/2019 380 4/6/2019 381 4/15/2019 382 4/20/2019 383 4/15/2019 384 4/25/2019 385 306 Prepay $600 total for 3 Months Rental of Shelves Receive February Shelf Rental Invoice Purchase 10 pairs on credit due 4/6 Sell 1 pair for cash Pay Owners February Salary of $30/month Sell 4 pairs on credit due 4/15 Receive March Shelf Rental Invoice Pay Owners March Salary of $30/month Receive April Shelf Rental Invoice Pay the total invoice for 2/9 merchandise purchase (row 373) Pay Owners April Salary of $30/month Sell 3 pairs for cash Receive cash payment for 2/25 sale Sell 2 pairs at 20% discount for cash Donoding Accounting Transactions Income Statement Balance Sheet Cost of Accounts Change in Revenues Revenues SG&A Net Income Cash Accounts Receivable Inventory Prepaid Rent Payable Assets = Change in Liabilities + Change in Equity $ $ (1,800) $ 1,800 $ $ 300 $ $ $ $ $ $ $ $ $ $ $ (300) $ (300) $ $ (300) $ - $ - $ - $ - $ $ - $ - $ - $ - $ - $ - $ - $ $ - $ - $ - $ - $ $ $ $ $ $ $ $ $ $ $ 368 Transaction 369 370 Date 371 1/25/2019 372 2/1/2019 373 2/9/2019 374 2/12/2019 375 2/15/2019 376 2/25/2019 377 3/1/2019 378 3/15/2019 379 4/1/2019 380 4/6/2019 381 4/15/2019 382 4/20/2019 383 4/15/2019 384 4/25/2019 Prepay $600 total for 3 Months Rental of Shelves Receive February Shelf Rental Invoice Purchase 10 pairs on credit due 4/6 Sell 1 pair for cash Pay Owners February Salary of $30/month Sell 4 pairs on credit due 4/15 Receive March Shelf Rental Invoice Pay Owners March Salary of $30/month Receive April Shelf Rental Invoice Pay the total invoice for 2/9 merchandise purchase (row 373) Pay Owners April Salary of $30/month Sell 3 pairs for cash Receive cash payment for 2/25 sale Sell 2 pairs at 20% discount for cash 385 Revenue