Cash 23,500.

00
Accounts Receivable 34,000.00
Merchandise Inventoy 30,000.00
Prepaid Operating Expenses 8,400.00
Furniture and Fixtures 57,000.00
Less: Allowance for Depreciation 11,400.00 45,600.00
Total Assets 141,500.00

Liabilities and Capital

Accounts Payable 18,600.00
Notes Payable (Non-Trade) 40,000.00
Accrued Operating Expenses 2,100.00
Accrued Interest Expenses 800.00
Felino Martin, Capital 80,000.00
Total Liabilites and Capital 141,500.00
 December January

Cash 23,500.00 18,200.00

Accounts Receivable 34,000.00 46,000.00
Merchandise Inventoy 30,000.00 35,000.00
Prepaid Operating Expenses 8,400.00 5,600.00
Furniture and Fixtures 57,000.00 57,000.00
Less: Allowance for Depreciation 11,400.00 45,600.00 14,400.00 42,600.00
Total Assets 141,500.00 147,400.00

Liabilities and Capital

Accounts Payable 18,600.00 16,700.00
Notes Payable (Non-Trade) 40,000.00 50,000.00
Accrued Operating Expenses 2,100.00 1,800.00
Accrued Interest Expenses 800.00 100.00
Felino Martin, Capital 80,000.00 78,800.00
Total Liabilites and Capital 141,500.00 147,400.00

Sales 84,500.00
Less: Cost of Goods Sold
Merchandise Inventory, Beg. 30,000.00
Purchases 45,200.00
Cost of Goods Available For Sales 75,200.00
Merchandise Inventory, End - 35,000.00 40,200.00
Gross Profit 44,300.00
Less: Operating Expenses
Depreciation Expense 3,000.00
Doubtful Accounts 400.00
Interest Expense 1,000.00
Operating Expense 21,100.00 25,500.00
Net Income (Loss) 18,800.00

Felino Martin, Capital Beg. 80,000.00

Add: Net Income 18,800.00
Less: Withdrawals - 20,000.00
Felino Martin, Capital End 78,800.00
 Cash
Beg. 23,500.00 15,000.00 Cash Purchases
Cash Sales 24,600.00 32,100.00 Payment on A/P
Collection from A/R 47,500.00 50,000.00 Loan Settlement
Proceeds from Loan 60,000.00 18,600.00 Operating Expenses
20,000.00 Personal withdrawals
1,700.00 Interest Expense
155,600.00 137,400.00
- 137,400.00
End 18,200.00

Accounts Receivable
Beg. 34,000.00 47,500.00 Collections
Sales on Account 59,900.00 400.00 A/R Written Off
93,900.00 47,900.00
- 47,900.00
End 46,000.00

Sales
Cash Sales 24,600.00
Sales on Accounts 59,900.00
84,500.00

Accounts Payable
Payment on A/P 32,100.00 18,600.00 Beg.
30,200.00 Purchase on Account
48,800.00
- 32,100.00
16,700.00 End

Accrued Interest Expense

Payment on Interest Expense 1,700.00 800.00 Beg.
1,000.00 Interest Expense
1,800.00
- 1,700.00
100.00
 Prepaid Operating Expense
Beg. 8,400.00 2,800.00 OPEX OPEX
+ P B
End 5,600.00 + A E
Total
- P E
Accrued Operating Expense - A B
Payment on OPEX 18,600.00 2,100.00 Beg. Total
18,300.00 OPEX
20,400.00
- 18,600.00
1,800.00 End.
 18,600.00
8,400.00
1,800.00
28,800.00
- 5,600.00
- 2,100.00
21,100.00