PART 1. ASAP PLS

1-1 Start Up Funding Sign Note for $34,000 @ 8% Issue Stock for $38,000 1-2 Purchase Equipment @1/1 Purchase displays and tools for $18,000 cash; SL Depreciation 5 yr. useful life, $0 salvage value 1-3 Purchase Inventory for $20,000 cash 1-4 Service & Sales Revenue Service Revenue $21,000 Sales Rev $24,000; COGS $12,000 1-5 Expenses Total Operating Exp. $24,000 Depreciation Exp. = equip. costx 1/5 Interest Expense = Note Pay. yr. end balance x 8% Year 1 Income 0 Service Revenue Sales Revenue Total Revenue Cost of Goods Sold Operating Expenses Depreciation Expense Interest Expense Total Expense Net Income 0 0 Statement of Sto Beginning Common Stock Plus: Common Stock Issued Ending Common Stock Beginning Retained Earnings + Net Income -Dividends Ending Retained Earnings Total Stockholders Equity 0 0 0 Balance Assets Cash Inventory Equipment Accumulated Depreciation Total Assets Liabilities Notes Payable Total Liabilities Stockholders Equity Common Stock Retained Earning Total Stockholders Equity Total Liabilities & SE 0 ol 0 Statement of a Net Cashflow from Operating Net Cashflow from Investing Net Cashflow from Financing Balance Sheet Assets Income Statement Revenue - Expense Flow Cash Inventory Equipment Liabilities Stockholders Equity Retained Notes Payable Common Stock Earnings Accumulated Depreciation Year! Trans Year 1 Balance 11 1-1 1-2 1-3 14 1-4 1-5 1-5 1-5 Closing Total 0 0 0 0 0 0 0 0 olol 0