Name Cash Common Stock Cash Notes Payable Equipment Accounts Payable Inventory Accounts Payable Accounts Recievable

Sales Revenue Salary Expense Cash Rent Expense Cash Cost of Product Inventory Prepaid Insurance Cash Accounts Payable Cash Cash Accounts Recievable Accumulate Depreciation Depreciation Expense Insurance Expense Prepaid Insurance Electric Expense Accounts Payable

Debit 75,000

Credit DR 75,000 CS 75,000 CR DR Cash 75,000 150,000 70,000 Accounts Payable 20,000

150,000 150,000 100,000 100,000 75,000 75,000 250,000 250,000 40,000 40,000 18,000 18,000 90,000 90,000 2,400 2,400 20,000 20,000 70,000 70,000 1,200 1,200 200 200 3,000 3,000 Electric Exp 3,000 Depreciation Exp 1,200 Rent Expense 18,000 Accounts Recievable 250,000 70,000 Equipment 100,000

Sales Revenue

Cost of Product 90,000

Acc Depreciation 1,200

Balance Sheet

Assests Cash Equipment Accounts Recievable Prepaid Insurance Acc Depreciation Inventory 214,600 100,000 180,000 2,200 -1,200 16,000 511,600

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Liabilities Notes Pay Acc Pay 150,000 158,000

511,600

Profit/Loss Statement Revenue Cost of Goods Gross Profit Expenses Salary Rent Insurance Deprec Electric Total Expenses Net Income 250,000 59,000 191,000

40,000 18,000 200 1,200 3,000 62,400 128,600

CR Cash 40,000 18,000 2,400 20,000 Accounts Payable 100,000 75,000 3,000 Sales Revenue 250,000

DR CR Notes Payable 150,000

Inventory 75,000 90,000

Salary Expense 40,000

Cost of Product

Prepaid Insurance 2,400 200

Acc Depreciation

Insurance Exp 200

Asset Liab/OE

DR + DR -

CR CR +

"+" CS R/E

Equity 75,000 128,600