Christy's Lemonade Stand Christy, who is eight years old, wants to sell lemonade during the weekend. For the following transactions, prepare (1) transaction analysis, (2) income statement for Friday through Sunday, (3) owner's equity statement for Friday through Sunday, and (4) balance sheet as of Sunday, by using the excel template provided. Friday 1. Christy gets $15 from the piggy bank to fund her business. 2. Christy buys $10 of lemonade ingredients and supplies. 3. Cousin Rex pays $1 for 4 cups he will get on Saturday. Saturday 4. A total of 96 cups are sold for cash @25 cents each. 5. Mr. Lee buys 4 cups, but will pay tomorrow. 6. Rex and his family pick up their 4 cups of lemonade. 7. Dad goes to store to buy $6 more lemonade ingredients. 8. Brother Andy earns $2 in wages by helping out. 9. Leftover ingredients and supplies amount to $3. Sunday 10. Mr. Lee brings his $1 due for yesterday's purchase. 11. Christy pays Andy his $2 in wages. 12. Christy takes $4 to the store to buy herself a toy. A B C D E G H M N 0 S T 1 + " F Assets Accounts Receivable L Liabilities Wages Unearned Payable Revenue P Q R Owner's Equity Owner's Drawings Revenue Owner's Capital 2 Cash + + Supplies = + + + Expenses 3 Transaction # Notes 4 1 15 15 5 2 6 3 4 7 8 5 9 6 Date Friday Friday Friday Saturday Saturday Saturday Saturday Saturday Saturday Sunday Sunday Sunday 10 7 11 8 9 12 13 10 14 11 12 15 16 17 Total 15 + 0 + 0 = 0 + 15 + 0 0 + 0 0 18 19