Balance sheet and Income statement
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Using the following data, prepare a Balance Sheet for April
15, 2016, and an Income Statement for April 1-15, 2016.
Frank’s Hot Dog Stand
— Financial Data
|
April 1 |
Bank Balance |
$22,000 |
|
April 1 |
Value of Hot Dog Cart and Equipment ($3,000 owed) |
$8,500 |
|
April 1 |
Food Inventory (kept constant) |
$2,000 |
|
April 2 |
Received invoice for Street Vendor license |
$35 |
|
April 4 |
Paid wages to assistant |
$250 |
|
April 4 |
Invoice from Hot Dog wholesale dealer |
$1,700 |
|
April 5 |
Deposited sales receipts |
$4,200 |
|
April 7 |
Purchased buns with cash |
$425 |
|
April 7 |
Received cell phone bill |
$110 |
|
April 9 |
Deposited sales receipts |
$5,000 |
|
April 9 |
Ordered new signage |
$1,430 |
|
April 10 |
Purchased condiments with cash |
$115 |
|
April 10 |
Sent invoice to Downtown Assoc. |
$6,000 |
|
April 10 |
Received invoice for paper products |
$2,200 |
|
April 11 |
Deposited sales receipts |
$7,090 |
|
April 11 |
Received cart repair bill |
$110 |
|
April 12 |
Purchased second service cart |
$8,500 |
|
April 12 |
Paid cell phone bill |
$110 |
|
April 13 |
Deposited sales receipts |
$6,100 |
|
April 14 |
Replaced tongs (cash purchase) |
$12 |
|
April 14 |
Paid off debt on first service cart |
$3,000 |
|
April 14 |
Purchased gasoline (cash) |
$100 |
|
April 15 |
Taxi (cash) |
$40 |
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