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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

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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