Question
date 1 Started my company, Chriss Fine Aglets, by investing $10,000 2 Rented a building $1000 3 Purchased cell phone service $100 4 Purchased a
date |
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1 | Started my company, Chriss Fine Aglets, by investing $10,000 |
2 | Rented a building $1000 |
3 | Purchased cell phone service $100 |
4 | Purchased a machine from Chriss Machines to apply aglets $4000 paid $1000 down and the rest is 2/10 net 30 |
5 | Purchased from Chriss Incredibly Great Aglet Supplies the plastic needed to make aglets for $1000 -- I can make 1000 pairs of aglets |
6 | My first order is from Chriss Shoestring Emporium, Inc He will pay me $500 to fix 200 pairs of shoestrings |
7 | I hired a level 3 aglet artisan and gave him a $500 hiring bonus |
8 | Received another order from Shoestrings-R-Us 400 pairs of aglets, paid us $1000 and will pay us $500 in 30 days |
9 | Hired Mr. Noah Account to be my bookkeeper. Paid him $100 |
10 | Ordered more plastic for $2000 I can make 2000 pairs of aglets |
11 | Bought miscellaneous office supplies $500 cash |
12 | Sold 500 aglet pairs for $2000. half down and half in 30 days |
13 | Paid $2000 for my purchase on the 4th. I still owe $1000 but wonderful Mr. Chris gave me the 2/10 net 30 on the $2000 I paid today |
14 | I took a $1000 draw --- note this is NOT salaryit is a DRAW |
You assignment is to do a journal, then a ledger, a trial balance sheet and finally the 3 financial reports
Assume cash unless told otherwise
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