Question
When she appeared on Shark Tank, Meg mentioned the following resources and debts that had accumulated by 30 September 2022: Money owed to YogaMatisse by
When she appeared on Shark Tank, Meg mentioned the following resources and debts that had accumulated by 30 September 2022:
Money owed to YogaMatisse by customers for past shipments: $30,000.
Past stock sale (20 percent of company) to angel investor for $ 1 million.
screen-printing machines: $1.5 million.
Wells Fargo bank loan: $1 million, with $300,000 in interest and repaid principal due in the coming year.
Accumulated operating losses: $270,000.
YogaMatisse bank checking account balance: $200,000.
In October 2022 Meg undertook six transactions.
Meg hired a printing specialist (Justin) and paid him $3,000 for the month with a check on the YogaMatisse bank account.
Meg purchased 5000 quality sustainable yoga mats in many colors to use in creating her product. Each mat cost $20, and Meg paid by $100,000 check on the YogaMatisse bank account.
Goop founder Gwyneth Paltrow purchased 1000 mats at $150 apiece and paid Meg with a check for $150,000 deposited in the YogaMatisse bank account.
Lori Greiner, of Shark Tank, purchased a 10 percent share of equity in CR for $500,000 that was deposited in the YogaMatisse bank account.
Meg collected $20,000 of the $30,000 owed to YogaMatisse by its customers and deposited it in the YogaMatisse bank checking account.
Meg paid $50,000 in interest due on the Wells Fargo bank loan: this did not reduce the principal due.
Question
make a balance sheet for YogaMatisse as of 30 September 2022.
then make one for as of end of October and note the changes
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