Marilyn Miller opened a floral shop using $5,000 of her own cash savings and with $15,000 in cash borrowed from her parents. She signed a lease on a small store for one year, agreeing to pay $350 per month in rent. During the first year of operations, Marilyn purchased fresh flowers from a local nursery for $2,500 paid $1,200 for utilities. She generated floral sales totaling $12,000.

(Assume all transactions were cash transactions)

Enter each of the above events in to the balalnce sheet equation as illustrated in the chapter.

Hint: For this worksheet, make sure to enter all expense items as negative amounts.

Hint: The transactions represent one year of operations.

Marilyn Floral
	1	2	3	4	5	6	Totals
Assets
Cash
Total Assets
Liabilities
Notes payable
Total liabilities
Shareholders equity
Contributed Capital (Stock)
Retained earnings
Revenue
Rent Expense
Floral Expense
Utilities Expense
Total shareholders equity
MARILYN FLORAL INCOME STATEMENT			BALANCE SHEET
REVENUE			ASSETS
OPERATING EXPENSES			Cash
Rent			TOTAL ASSETS
Floral			LIABILITIES
Utilities			Note Payable
NET INCOME			EQUITY
			Contributed Capital (Stock)
			Retained Earnings
			TOTAL LIAB. AND EQUITY