Long Wood decided to open Woodys Caf on 1 January 2023. Long will sell sandwiches and coffee
Fantastic news! We've Found the answer you've been seeking!
Question:
4 Took a five-year lease on a shop and paid the first 6 months of rent $12,000.
4 Mr. C requested a quote for a custom order of 200 sandwiches.
4 Long purchased a $450 printer on credit.
8 Long contacted Mr. C to inform her the custom order would cost $900.
9 Purchased supplies for $600, paid $150 cash in part payment for these supplies.
11 Cash received for her first week is deposited, $3,825.
12 EFTPOS sales of $187.5
13 Paid petrol $60, postage $15, and electricity bill $636.
13 Paid the balance of the printer owing from 4th January.
14 Supplies used $123.
15 Mr. C paid a $100 deposit for his sandwiches to be collected on January 31st.
16 Engaged a part time assistant at an agreed wage of $375 per week.
17 Cash revenue received $1237.5
18 Paid the balance of the supplies purchased on January 9th.
21 Raw materials purchased for $127.5 on credit.
23 Paid weekly wages to the assistant.
24 The owner withdrew $600 for her own use.
25 Revenue earned of $1398, receiving $198 in cash, $900 EFTPOs and the remainder to
be paid later.
28 Phone expenses paid of $60.
30 Cash of $1200 deposited.
31 Paid weekly wages to the assistant
Prepare an income statement and balance sheet at 31 January 2023
Related Book For
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen
Posted Date: