https://www.sweetstudy.com/files/championwave3-docx

Champion Wave Surf, Inc. 11:14 PM Balance Sheet 08103/2013 As of March 17, 2007 AT 17, 97 ASSETS Current Assets Checking/Savings 101 - Cash 18.120.80 102 - Petty Cash 100.00 115 . Certificate of Deposit 8,000.00 Total Checking/Savings 26.220.80 Accounts Receivable 120 . Accounts Receivable 707.50 Total Accounts Receivable 707.50 Other Current Assets 125 . Credit Cards Receivable 450.00 130 . Interest Receivable 40 00 150 . Merchandise Inventory 4411 47 160 Prepaid Advertising 1.250.00 161 . Prepaid Insurance 1.600 00 2 . Prepaid Rent 800 00 170 . Store Supplies 170 Total Other Current Assets Total Current Assets Fixed AssetsTotal Current Amnote 47.680.45 Fland Anceto Equip 5.360.00 1 - Accum. D -152.00 Furniture & Fixtures 4.532.00 186 - Accum. Depreciation-Fur & Fix 98 00 Total Fixed Assets 9.614.00 TOTAL ASSETS 57.204.45 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 201 . Accounts Payable 2.117.55 Total Accounts Payable 2.117.55 Other Current Liabilities 210 - Dividends Payable 4.000 00 220 . Interest Payable 425.00 240 . Sales Tax Payable 2.762 02 260 . Unearned Revenue 1.845.00 Total Other Current Liabilities Total Current Liabilities Long Term LiabilitiesPage Mar 17, 07 280 - Notes Payable 30.000 00 Total Long Term Liabilities 30.000.00 Total Liabilities 41.169.57 Equity 310 - Common Stock 10.000.00 390 . Dividends 4,000.00 Net Income 10.124.88 Total Equity 16.124.88 TOTAL LIABILITIES & EQUITY 57.294.45Page Week of March 18 - 24, 2007 Transactions 1 March 18, 2007 The customer who purchased surfboards on March 14, 2007, returned one surfboard with a list price of $425.00. The customer received the refund in cash and was provided receipt number 31801 for the transaction. 2 March 18, 2007 Sold apparel to customer for $198.24 plus sales tax. The customer paid cash. The sales receipt number was 7031802. 3 March 18, 2007 Received cash ! from the credit card processing company for receipt number 31601, processed 2007hampton wave ist edition REPdocx Page 29 4 March 19, 2007 Customer, Budd Charles, brought his surfboard in for repairs. Repairs were completed and the customer was given invoice number 31901 for $119.00.Page 30 Week of March 18 - 24, 2007 5 March 19, 2007 Collected $225.00 from customer, Betty Jane, who was invoiced in February for lessons taught, invoice number 21703. 6 March 19, 2007 Taught a 3 hour surfing lesson for cash. Provided the customer with receipt number 31902 7 March 20, 2007 Sold 3 surfboards and accessories to customer for $1,649.50 plus sales tax. The customer paid cash The sales receipt number was 7032001. Shipped the merchandise to the customer's home address FOB destination. An invoice for shipping costs will be sent to the responsible partyPage 30 of 4 8 March 20, 2007 Taught 4.5 hours of surfing lessons to a customer who had paid in advance during February (receipt number 20703) at the special discounted rate. 9 March 20, 2007 Received cash payment from customer, Brett Constance, referencing invoice number 30601Page 31 10 March 21, 2007 Sold accessories to customer for $319.28 plus sales tax. The customer paid with a credit card. The sales receipt number was 7032101. 11 March 21, 2007 Received an invoice for $209.00 from the landlord, Coastal Properties, Inc., for repairs made in the store. The invoice number was CP200768, net 10. 12 March 21, 2007 Purchased merchandise from Pipeline Surfwear for $795.00, invoice number PS40627. The merchandise was delivered FOB shipping point at a cost of $45.00. All amounts due were paid in cash at the time of deliveryChampion Wave 1st edition REF.docx Page 31 of 13 March 22, 2007 Taught a 2 hour surfing lesson to customer David Linthon, who paid cash for the lesson, plus paid off the $75.00 balance he owed from an Invoice In February. Provided the customer with receipt number 32201 for the payment. 14 March 22, 2007 Wrote check number 10034 to Premier Distributing to pay the open invoices from March 9 and March 17, 2007 in full.Page 32 15 March 23, 2007 Paid Surfer's Supply the amount due on invoice number SS9241 dated March 16, 2007. 16 March 23, 2007 Paid Central Coast Boarding the amount due on invoice number CCB1335 dated March 11, 2007. 17 March 23, 2007 Wrote check number 10035 to Law Office of C. Brown for $165.00 to pay for a legal consultation that day 18 March 24, 2007 Wrote check number 10036 to pay the bill received from the landlord on March 21, 2007.Page 32 of 46 18 March 24, 2007 Wrote check number 10036 to pay the bill received from the landlord on March 21, 2007. 19 March 24, 2007 Wrote check number 10037 for $5,400.00 to pay rent for the second quarter (April, May & June 2007) 20 March 24, 2007 Repaired surfboard for customer Chris Jackson. Provided customer with invoice number 32401 for $95.00