Financial Statement

Need to do the financial statements

Income statements

Revenue

Expenses

Net income

Retained earnings

Dividends

Balance sheet ( Assets Liability Equity )

General | Merge & Center s-% , 1Coditional Format Cal Formatting as TableStyles AB OURNAL ENTRIES-GROUP 1 Accounts Cash Credit Debit Aug. 1 50,000 Capital Stock 50,000 Rent deposit Rent expense 2,500 2,500 Aug. 1 Cash 5,000 Aug. 1 Cash 100,000 Notes Payable 100,000 Aug. 1 Prepaid Insurance 2,400 Cash 2,400 Aug. 1 Office Supplies Accounts Payable 300 Aug. 1 Store Equipment 79,400 Cash Accounts Payable 10,000 69,400 Aug. 1 Aug. 1 Aug. 1 Aug. 1 Office Equipment 9,000 Cash 9,000 Franchise Cash Utilitiy and Phone Deposits Cash 350 350 Advertising Expense 706 Cash 706 Cream Inventory 2.376 Novelties Inventory Accounts Payable 2,946 Aug. 5 Cash 2,127 Sales-Ice Cream Scoops Sales-Novelties 1,865 262 Cost of goods sold-Scoops Cost of goods sold-Noveltiet 308 65 Ice Cream Inventory Novelties Inventory 308 65 Aug. 10 Accounts Payable 2,945 Cash 2,945 Aug. 11 Accounts Payable 300 Cash 300 Aug. 12 Cash 4,254 Sales-Ice Cream Scoops Sales--Novelties 3,730 524 Cost of goods sold-Scoops Cost of goods sold-Novelties 615 130 Ice Cream Inventory Novelties Inventory 615 130 Aug. 15 Ice Cream Inventory Novelties Inventory 923 195 Accounts Payable 1,118 Aug. 16 Office Supplies 83 Accounts Payable 83 Aug. 19 Cash 5,318 Sales-Ice Cream Scoops Sales--Novelties 4,662 656 Cost of goods sold-Scoops Cost of goods sold-Noveltie162 769 Ice Cream Inventory Novelties Inventory 769 162 Aug. 22 Telephone Expense Cash Aug. 22 Ice Cream Inventory Novelties Inventory 769 162 Accounts Payable 931 Aug. 25 Accounts Payable 1.118 Cash 1.118 Aug. 26 Cash 6,380 Sales-Ice Cream Scoops Sales--Novelties 5,594 786 Cost of goods sold-Scoops Cost of goods sold-Novelties 923 195 Ice Cream Inventory Novelties Inventory 923 195 Ice Cream Inventory Novelties Inventory 923 195 Aug. 26 Accounts Payable 1,118 Aug. 26 Salaries and Wages Expens 6,983 FIT Payable: SIT Payable Social Security Tax Payable Medicare Taxes Payable Cash 698 349 433 101 5,402 Payroll Tax Expense Social Security Tax Payable Medicare Taxes Payable FUTA Payable SUTA Payable 433 101 56 196 Aug. 31 Cash 3,191 Sales-Ice Cream Scoops Sales--Novelties 2,797 394 Cost of goods sold-Scoops Cost of goods sold-Noveltie 462 98 Ice Cream Inventory Novelties Inventory 462 98 Adj. 1 Salaries and Wages Expens 648 Sal. & Wages Payable 648 Adj. 2 Utilities Expense 206 Accounts Payable 206 Adj. 3 Office Supplies Expense Office Supplies 116 116 Adj. 4 Telephone expense 67 Accounts Payable Adj. 5 Amortization expense-franch Franchise