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Jack Uzi, wholesale toys online, operates out of his office in his parents' apartment, with 0 inventory. Every toy he sells is first purchased then
Jack Uzi, wholesale toys online, operates out of his office in his parents' apartment, with 0 inventory. Every toy he sells is first purchased then re-sold, but only after the order comes through. You need to help him out with his bookkeeping. The following transactions occurred in October: a. Paid 500 for lease of computer equipment in advance for November b. Cash Sales of 4,847. (for stuffed animal) c. Cash sales of 4,486 (for Educational Toys) d. Cash sales of 4,702 (for Video Games) e. Cash Sales of 1,827 (for Pretend-play toys) 1. Purchase of office supplies on account from Bing's Office Supply, 416. g. Withdrawal by owner (Jack Uzi) of 1,600. h. Payment on account (Bing's), 390. L. Payment of wages with cash, 2,500. j. Payment for cleaning services with cash, 74 k. Payment to purchase stuffed animal, 4,044 L. Payment to purchase Educational Toys, 3,547 m. Payment to purchase Video Games, C4,169 n. Payment to purchase Pretend-play toys, 1,382 20190THM WWW.OTHM.ORG.UK OTHM LEVEL 5 DIPLOMA IN BUSINESS MANAGEMENT I ASSIGNMENT BRIEFS Further, he has account balances for the beginning of October as follows: Cash Office Supplies 2,000 75 Accounts Payable, Bing's Office Supply Hut Jack Uzi, Capital 75 2000 5. Prepare a cash Flow Statement for October 31, 2017 6. Prepare an Income Statement for the period ending October 31, 2017 7. Prepare a Balance Sheet for October 31, 2017
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