LEMONADE Lemonade Stand Activit 25 -5.00 +4.00 (1) On August 2, Mom and Dad give us $10 cash for our lemonade stand in exchange for capital/common stock NOTE PAYABLE (2) On August 4, we borrowed $5 cash from our brother, which we will pay back later. (3) On August 15, we buy $5 worth of lemonade supplies at the grocery store with cash. -3.00 lou.per month (4) On August 17, we pay $3 cash to our sister to rent her stand for three months. (5) On August 25, Mr. Jones pays $4 cash for 4 cups of lemonade. (6) On August 29, Mrs. Smith stops by and doesn't have money we give her $5 worth of lemonade, knowing she will pay us later. 2 dividend (7) On August 31, Mom and Dad withdraw $2 cash for personal use (dividend). 3100 che potre (8) At the end of the month, we determined that only $1 of our lemonade supplies were left. oth Rent pouilt (9) At the end of the month, we adjusted the Prepaid Rent for one month's use of the stand. 15 oned a2. Suppor- e. Opere https://2.cengagenow.ci corako Assets Prepaid + Acct Rec + Rent = Liabilities + Brother Payable Cash + Supplies Owners Equity M&D Capital Retained Common Stock + Earnings 10 (1) (2) (3) (5) (6) (7) (8) (9) Income Statement Items Revenues: Expenses