A. Prepare necessary adjustments for depreciation expense and other expenses for the month

B. Prepare the income statement for JJ Asian Cuisine for the month ending 31 July

C. Prepare the balance sheet statement for JJ Asian Cuisine as at 31 July

Include the above transactions in the Income Statements and Balance Sheet

2. Construct the Cash Flows Statement for the month ended 31 July (include the above transaction)

3. Compare the cash balance at the end of the month and the profit made at the end of the month and fully comment on what you observe

OWNER EQUITY P/L containe Capital Revenue Expense 20,000 90 ASSETS = LIABILITIES + Date Bowl Vacuum Registrat Cash Containe Website sealing Vacuum Prepaid Accounts Accounts Bowls Loan sealer machine ion Fee rs seal bags Rent Rec Payable 1-Jul 20,000 1-Jul- 90 2 Jul 800 800 2-Jul No transaction 2-Jul 3,000 3,000 2-Jul- 132 132 2-Jul- 128 128 3-Jul 380 380 3-Jul 1.200 1,200 3-Jul 3,960 3,960 4-Jul 2,160 4-Jul No transaction 5-Jul 1,537 6-Jul 576 7-Jull 113 9-Jul 2,880 10-Jul No transaction 11-Jul- 315 23-Jull 600 27-Jul 1,152 30-Jul 2,160 1,537 576 113 2,880 315 600 1.152 . Total 17,054 3,000 800 1,200 380 132 128 3,960 576 3,117 19,400 6,768 3,117 2,055 24,113 27,230 27,230 lason and lumes started Asian Cuisine on 01 July, the following transactions occurred in Amounts 07000 10 800 2000 2 Packaging Equipment:Used to vacuum sea the noodles into the vacuum seal baps IF 21 Paping Equipment Used to wakproof soup into foam bowls 1). & Packaging opple, All supplies ied to change the product Indudes Vacum sa bags and small plastic containers Treat ASSET purchase. Fe 1.2.3) 5 Set Up Cost Teatas assetat purchase Rent amoure part is for three months being into suly. Prepair 7 Groceries purchased as required treat as Extat purchase 3.000 132 Us 128 380 Date Tramaction Iberowed from parents and contributed cash into the business Il Pad for Business relation 20 Paid for vacuum Sealer Fuchint Arranged credit card Facility with the bank to a limit of, 2. Paid for bowling machine and shoping teen 2. Cu purchase of four bowl UNS Price. 1. 100 $ 0.12 20 Cash purchase of Vacuum Sea bags Pricepu 1.600 50.00 30 Credit card purchase of any containers Small plastic for chilles UNES Price U 3.8005 0.10 3. Received an invoice for website set up cost 3. Paid rent as required by rental agreement.. No of month per month $ 1320.00 6. First delivery of product to customer received cash Units Price Du 300 $ 7.20 4.Agreed with IGA Supermarket to provide a sample batch of product Units Price u 400$ 720 S. Received grocery timeat and other ingredient supplies 6. Sentines to friends who are yet to make payments 7- Paid for single Honds as to pick up purchases and make deliveries Delivered one of ruly order above, to IGA Supermarket paid in full credit card Additional information . Policies and its Vecumser and bowl seating machines, both deprecated on a straight line method with an estimated for years and five years, and both having IL Salvage value Website is depreciated under straight line method twee years Al grocery supplies are purchased and USED as required no material amounts of grocery supplies are stored 1.200 3.950 2,160 FIGURE 2.80 1.537 576 2.880 30 20-as placed in order for more grocery supplies 11. Pick up and paid for the grocery supplies ordered 315 1,152 23. Drawing to son and James 27. Sold product at a local community street festival evention Cyton Road Serves sold 160 Price per serve 7.30 30 Mecorded depreciation for the month FIGURE 3. Small side serve cups Polides FIGURE After the discussion, Jason and sames agree to purchase the car olfames for business use for $15,000. They approached the CBA bank for a loan, the bank preporoved to lend them $30.000 as securedo, 12% interes per year and repayment is monthly. The balance for the cost of the car is coming out of the business account However, the business in ww.so Conly agreed for the loan toimito be your other terms stay FIGURE Small deserve up Inson and James negotiated to pay monthly interest only for the loan and the balance of the principle will be paid at the end of the term. The interest will be paid in advance starting from Adjustments Depreciation is calculated on a STRAIGHT LINE method Vacun Sester machine, Estimated 6 years with Bowl Sealing machine, Esimited usefe 5 years with a residual value Website Set Up Coss. Depreciate over three years The car is deprecated over 5 years under the method. At the end of five year the residus valul 55.000 Summary: Transion as per week and VS and B/s from week is departure point Art 31. Bank Preapproved loan agreed 5 10.000 Pastorice proposed vehicle 5 15.00 5.000 Aphical count of the Packaging Supplies on hand at the end of the month revealed Unit Containers Bowls Vacuum selbag The rest and cover the month one month of the mouth UND query but the end of the water wed for the north water is bited and paste and death Loan Payment were Payment structure Advanced Arran Aipasigan We cout Resu Wetter Depen Mo 12 Interestiny Advance 15 5 157600 5 2 000 $ 32130 $ SED OWNER EQUITY P/L containe Capital Revenue Expense 20,000 90 ASSETS = LIABILITIES + Date Bowl Vacuum Registrat Cash Containe Website sealing Vacuum Prepaid Accounts Accounts Bowls Loan sealer machine ion Fee rs seal bags Rent Rec Payable 1-Jul 20,000 1-Jul- 90 2 Jul 800 800 2-Jul No transaction 2-Jul 3,000 3,000 2-Jul- 132 132 2-Jul- 128 128 3-Jul 380 380 3-Jul 1.200 1,200 3-Jul 3,960 3,960 4-Jul 2,160 4-Jul No transaction 5-Jul 1,537 6-Jul 576 7-Jull 113 9-Jul 2,880 10-Jul No transaction 11-Jul- 315 23-Jull 600 27-Jul 1,152 30-Jul 2,160 1,537 576 113 2,880 315 600 1.152 . Total 17,054 3,000 800 1,200 380 132 128 3,960 576 3,117 19,400 6,768 3,117 2,055 24,113 27,230 27,230 lason and lumes started Asian Cuisine on 01 July, the following transactions occurred in Amounts 07000 10 800 2000 2 Packaging Equipment:Used to vacuum sea the noodles into the vacuum seal baps IF 21 Paping Equipment Used to wakproof soup into foam bowls 1). & Packaging opple, All supplies ied to change the product Indudes Vacum sa bags and small plastic containers Treat ASSET purchase. Fe 1.2.3) 5 Set Up Cost Teatas assetat purchase Rent amoure part is for three months being into suly. Prepair 7 Groceries purchased as required treat as Extat purchase 3.000 132 Us 128 380 Date Tramaction Iberowed from parents and contributed cash into the business Il Pad for Business relation 20 Paid for vacuum Sealer Fuchint Arranged credit card Facility with the bank to a limit of, 2. Paid for bowling machine and shoping teen 2. Cu purchase of four bowl UNS Price. 1. 100 $ 0.12 20 Cash purchase of Vacuum Sea bags Pricepu 1.600 50.00 30 Credit card purchase of any containers Small plastic for chilles UNES Price U 3.8005 0.10 3. Received an invoice for website set up cost 3. Paid rent as required by rental agreement.. No of month per month $ 1320.00 6. First delivery of product to customer received cash Units Price Du 300 $ 7.20 4.Agreed with IGA Supermarket to provide a sample batch of product Units Price u 400$ 720 S. Received grocery timeat and other ingredient supplies 6. Sentines to friends who are yet to make payments 7- Paid for single Honds as to pick up purchases and make deliveries Delivered one of ruly order above, to IGA Supermarket paid in full credit card Additional information . Policies and its Vecumser and bowl seating machines, both deprecated on a straight line method with an estimated for years and five years, and both having IL Salvage value Website is depreciated under straight line method twee years Al grocery supplies are purchased and USED as required no material amounts of grocery supplies are stored 1.200 3.950 2,160 FIGURE 2.80 1.537 576 2.880 30 20-as placed in order for more grocery supplies 11. Pick up and paid for the grocery supplies ordered 315 1,152 23. Drawing to son and James 27. Sold product at a local community street festival evention Cyton Road Serves sold 160 Price per serve 7.30 30 Mecorded depreciation for the month FIGURE 3. Small side serve cups Polides FIGURE After the discussion, Jason and sames agree to purchase the car olfames for business use for $15,000. They approached the CBA bank for a loan, the bank preporoved to lend them $30.000 as securedo, 12% interes per year and repayment is monthly. The balance for the cost of the car is coming out of the business account However, the business in ww.so Conly agreed for the loan toimito be your other terms stay FIGURE Small deserve up Inson and James negotiated to pay monthly interest only for the loan and the balance of the principle will be paid at the end of the term. The interest will be paid in advance starting from Adjustments Depreciation is calculated on a STRAIGHT LINE method Vacun Sester machine, Estimated 6 years with Bowl Sealing machine, Esimited usefe 5 years with a residual value Website Set Up Coss. Depreciate over three years The car is deprecated over 5 years under the method. At the end of five year the residus valul 55.000 Summary: Transion as per week and VS and B/s from week is departure point Art 31. Bank Preapproved loan agreed 5 10.000 Pastorice proposed vehicle 5 15.00 5.000 Aphical count of the Packaging Supplies on hand at the end of the month revealed Unit Containers Bowls Vacuum selbag The rest and cover the month one month of the mouth UND query but the end of the water wed for the north water is bited and paste and death Loan Payment were Payment structure Advanced Arran Aipasigan We cout Resu Wetter Depen Mo 12 Interestiny Advance 15 5 157600 5 2 000 $ 32130 $ SED