Question
Can you make this balance sheet? Jason and James started JJ Asian Cuisine on 01 st July, the following transactions occurred in July: Date Transactions
Can you make this balance sheet?
Jason and James started JJ Asian Cuisine on 01st July, the following transactions occurred in July:
Date | Transactions | Amounts | ||||||
1-Jul | J & J borrowed from parents and contributed cash into the business. | 20,000 | ||||||
1-Jul | Paid for business registration1 | 90 | ||||||
2-Jul | Paid for vacuum sealer machine 2 | 800 | ||||||
2-Jul | Arranged credit card facility with the bank to a limit of; | 2,000 | ||||||
2-Jul | Paid for bowl sealing machine and shipping fee 3 | 3,000 | ||||||
2-Jul | Cash purchase of foam bowls 4 | 132 | ||||||
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| Units | Price p.u |
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| 1,100 | $ 0.12 |
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2-Jul | Cash purchase of vacuum seal bags | 128 | ||||||
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| Units | Price p.u |
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| |
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| 1,600 | $ 0.08 |
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3-Jul | Credit card purchase of tiny containers (Small plastic for chillies oil) | 380 | ||||||
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| Units | Price p.u |
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| |
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| 3,800 | $ 0.10 |
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3-Jul | Received an invoice for website set up cost 5 | 1,200 | ||||||
3-Jul | Paid rent as required by rental agreement. 6 | 3,960 | ||||||
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| No of months | 3 | per month | $ 1,320.00 |
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4-Jul | First delivery of product to customers; received cash. | 2,160 | ||||||
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| Units | Price p.u |
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| 300 | $ 7.20 |
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4-Jul | Agreed with an IGA Supermarket to provide a sample batch of product. | 2,880 | ||||||
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| Units | Price p.u |
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| 400 | $ 7.20 |
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5-Jul | Received grocery bill (meat and other ingredients; supplies) 7 | 1,537 | ||||||
6-Jul | Sent invoices to friends who are yet to make payments | 576 | ||||||
7-Jul | Paid for petrol, (using James Honda Jazz to pick up purchases and make deliveries | 113 | ||||||
9-Jul | Delivered on 4th of July order above, to IGA Supermarket. (paid in full via credit card) | 2,880 | ||||||
10-Jul | James placed an order for more grocery supplies | 380 | ||||||
11-Jul | Pick up and paid for the grocery supplies ordered | 315 | ||||||
23-Jul | Drawings to Jason and James | 600 | ||||||
27-Jul | Sold product at a local community street festival event along Clayton Road. | 1,152 | ||||||
| Serves sold | 160 | Price per serve | $ 7.20 |
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30-Jul | Recorded depreciation for the month 7 | ? |
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