Balance Sheet Income Statement Owners Equity

Cash 403,003 403,003

Digital Camera 45,000 45,000
Manual Camera 25,000 25,000 Beginning, capital
Desktop computer 28,000 28,000 Add: Income
Photo papers and Ink 14,000 14,000
Prepaid rent 30,000 30,000 Ending, capital
Photo Editing Equime 40,000 40,000
Accounts receivable 148,500 148,500
Office furniture 30,000 30,000
Notes receivable 45,000 45,000
Accounts payable 15,000 15,000
Notes payable 17,600 17,600
Unearned revenue 60,000 60,000
Representation expen 4,000 4,000
Electricity expense 23,000 23,000
Telephone expense 6,000 6,000
Repairs expense 2,500 2,500
Salary expense 3,097 3,097
Advertising expense 5,500 5,500
Photography services 360,000 360,000
capital 400,000 400,000
Net Income 315,903 715,903
Beginning, capital 400,000
Add: Income 315,903
715,903
Ending, capital 715,903
 Nubear Merchandising
Financial Position

Cash ?
Accounts receivable 59,400 Accounts payable
Allowance for bad debts 5,000 Accrued expenses
Notes receivable 39,600 Notes payable
Interest receivable 5,000 total liabilities
Merchandise inventory 247,500
Prepaid insurance 6,000
office supplies 30,000
Delivery equipment 225,000
Accum dep - delivery 72,000
Furnitures 180,000
Accum dep - furnitures 67,500
144,500 792,500 Capital,
Total Assets 648,000 Total equity and liabilities
 Nubear Merchandising
Statement of Changes in Owner's Equity

45,000
8,000
105,000
158,000

?
nd liabilities