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Please prepare the three basic financial statements in proper format using the information above. thanks!! Huntington Beach Surf Consulting, Inc. (HBSCI) is the company you
Please prepare the three basic financial statements in proper format using the information above.
thanks!!
Huntington Beach Surf Consulting, Inc. (HBSCI) is the company you started on December 1, 2019. The following transactions occurred during the month ended December 31, 2019: 1. The business was started with a $25,000 cash investment from your personal account on December 1, 2019. 2. A 5-year lease agreement was signed on December 2 that required December 2019 rent of $5,000 to be paid along with last month's rent of $5,000. The payment was made on December 2nd. 3. Supplies were purchased on account on December 5th for a total of $2,000. 4. Services were performed on December 10th for $20,000 in cash. 5. Payment was made on December 15th for the supplies purchased on account. 6. On December 18th, a 1970 VW surf van with a market value of $12,000 was purchased for $2,000 in cash and a note for $10,000. Corky Carroll, a retired surf champion, and owner of Corky Carroll's Surf School in Huntington Beach made you a cash offer of $20,000 for the VW surf van the same day. 7. You received a cash deposit of $6,000 from Mr. Grom on December 20th for surfing lessons to be performed at a later date. 8. A cash dividend of $5,000 was paid on December 31, 2019Step by Step Solution
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