Question
Period Jun to Dec 1.Owner started new business in Jun with contribution of $2000 2.Owner borrowed $1000 payable after 3 years, interest payable $10 per
Period Jun to Dec
1.Owner started new business in Jun with contribution of $2000
2.Owner borrowed $1000 payable after 3 years, interest payable $10 per month
5 interest payments made so far
3.Commissioned webpage on Aug, paid $1500. Shelf life 3 years.
4.$20 payable per month support costs from Aug
5.Received credit sales $1324.80 after 8% discount
6.Received invoiced sales of $2400
7.Total cash received from customers - $3275
8.Sales support staff from Sep - payable $75 monthly.Paid for 2 months.Dec payable outstanding.
9.$80 payable per month for advertising from Nov.Nov paid.
10.Ordered stock for 150 units at $60. Returned 20 spoilt units and received credit
11.Ordered stock 200 units at $65
12.In Nov, balance stock 15 units (5 missing stock)
13.Ordered 100 units at $70
14.Final balance stock - 40 units
15.Total paid to supplier - $22,000
16.Owner drew $3,00 cash in May for personal use
What is the income statement, balance sheet and cash flow statement?
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