FOPPI is commencing his business: FOPPI Bicycle Service and Repair.

Transactions for the first week of operations have been provided.

You are required to enter the numbers to

• Complete the Balance Sheet for the end of the week
• Complete the Income Statement for the period
• Provide the Net Cash Flow (NCF) figure for the period.

Do not use $ signs spaces, commas or decimals when entering the number. If the number is negative, then indicate this by placing a minus sign before the number e.g. -1000

TRANSACTIONS/EVENTS for week ending 07/07/20$FOPPI contributes cash to commence business30000Purchased supplies on credit3200Purchased tools and equipment, paying cash7600Paid rent forfourweeks800Cash service fees received from customers5600Supplies on hand at end of week2200

FOPPI Bicycle Service and RepairFOPPI Bicycle Service and RepairBalance SheetIncome Statementas at 07/07/20for week ending 07/07/20$$AssetsAnswer

RevenuesAnswer

LiabilitiesAnswer

ExpensesAnswer

Owners EquityAnswer

profit / (loss)Answer

Net Cash FlowAnswer