Smoky Valley caf

Date/Mont
h

Assets

Cash

12-Jan

Initial
contribution
by owners
Purchase of
Caf

300000.00
(225000.00
)

15-Jan

Deposit with
beer
distributor

(1750.00)

March

Purchase of
equipment

(20797.50)

April

Additional
contribution
from
Ramesh

20000.00

12-Jan

March 12
closing
entries

Land

Bldg

Equipmen
t

Deposit
s

Owners'
Equity

Inventor
y

125000.0
0

100000.00

525000.0
0

50000.00

Accounting Equation
Owners'
Equity

Assets

Liability

300000.0
0
875000.0
0

0.00
575000.0
0

875000.0
0

575000.0
0

300000.00

875000.0
0

575000.0
0

300000.00

20000.00

895000.0
0

575000.0
0

320000.00

285704.75

825704.7
5

540000.0
0

285704.75

300000.00
575000.00

1750.00

20797.50

Mortgage
paid
Closing
Cash &
Bank Bal

300000.00
300000.00

(35000.00
)

3756.50

Food and
Groceries
left
Depreciatio
n
Closing
Balance

Land
Improvemen
t

Liability

5000.00
(2222.50)
3756.50

125000.0
0

97777.50

(1167.25)
523832.7
5

(2209.50)
68588.00

1750.00

5000.00

540000.00