Create a STATEMENT OF FINANCIAL POSITON and an INCOME STATEMENT for the Three Great Plumbers, LLP. Peter

Create a STATEMENT OF FINANCIAL POSITON and an INCOME STATEMENT for the Three Great Plumbers, LLP.

  
 

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Peter Pipe, Dick Drane, and Rob Rench each put in $10,000 in cash, $3,000 in tools, and service vans - each valued at $10,000. 2-Jan Rented a store front warehouse office space for $1,200/mo. Paid $2,400 for first and last months rent. 2-Jan Purchase plumbing supplies for $4,000 on account. 3-Jan Purchase inventory of 10 toilets ($100 ea.), 20 sinks ($50 ea., and 4 tubs ($250 ea) on account. 5-Jan Bid on a new construction home. Quoted $3,500 with $1,000 with the order and $2,500 on completion. 6-Jan Performed a service call - plugged sink. Received $60 in cash. 10-Jan January 5th bid was accppted with check for $1,000. 11-Jan Paid the plumbing supplies bill. 12-Jan Purchased a computer for $800 cash and Quickbooks accounting sofware for $150 cash. 13-Jan Paid the for the toilets, sinks and tubs. 14-Jan Paid Streeter Acctg Services $450 to install and set up Quickbooks . 15-Jan Bought cell phones for each owner at no charge for the phones but a service contract of $150 per month for 12 months with the first and last month paid in advance. 25-Jan Finished and billed the construction job and got paid. 31-Jan Took a Supplies inventory, equaled $3,250 31-Jan Counted the Inventory and was 8 toilets, 17 sinks, and 3 tubs. 31-Jan Depreciation on the vans for the month was calculated to be $450 ($150 each). 3-Feb Received Bank Statement with $35 service charge 4-Feb Received bill for gasoline for $165. 4-Feb Received a bill from Davidson Web Services for web site creation and online fees. Charge is $150 for the site and $50 per month maintenance. Site went on line @ 9:00 pm. 1/31. Peter Pipe, Dick Drane, and Rob Rench each put in $10,000 in cash, $3,000 in tools, and service vans - each valued at $10,000. 2-Jan Rented a store front warehouse office space for $1,200/mo. Paid $2,400 for first and last months rent. 2-Jan Purchase plumbing supplies for $4,000 on account. 3-Jan Purchase inventory of 10 toilets ($100 ea.), 20 sinks ($50 ea., and 4 tubs ($250 ea) on account. 5-Jan Bid on a new construction home. Quoted $3,500 with $1,000 with the order and $2,500 on completion. 6-Jan Performed a service call - plugged sink. Received $60 in cash. 10-Jan January 5th bid was accppted with check for $1,000. 11-Jan Paid the plumbing supplies bill. 12-Jan Purchased a computer for $800 cash and Quickbooks accounting sofware for $150 cash. 13-Jan Paid the for the toilets, sinks and tubs. 14-Jan Paid Streeter Acctg Services $450 to install and set up Quickbooks . 15-Jan Bought cell phones for each owner at no charge for the phones but a service contract of $150 per month for 12 months with the first and last month paid in advance. 25-Jan Finished and billed the construction job and got paid. 31-Jan Took a Supplies inventory, equaled $3,250 31-Jan Counted the Inventory and was 8 toilets, 17 sinks, and 3 tubs. 31-Jan Depreciation on the vans for the month was calculated to be $450 ($150 each). 3-Feb Received Bank Statement with $35 service charge 4-Feb Received bill for gasoline for $165. 4-Feb Received a bill from Davidson Web Services for web site creation and online fees. Charge is $150 for the site and $50 per month maintenance. Site went on line @ 9:00 pm. 1/31.

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