Luscious Layers Bakery

2016

15-Feb Cash 60,000.00$

Capital 60,000.00$

15-Feb Cash 40,000.00$

Notes Payable 40,000.00$

15-Feb Prepaid Rent (for 6 months) 12,000.00$

Cash 12,000.00$

16-Feb Machinery (cash register) 1,419.00$

Cash 1,419.00$

16-Feb Advertising Expense 2,000.00$

Cash 2,000.00$

16-Feb Machinery (for industrial ovens) 10,166.00$

Cash 10,166.00$

17-Feb Furniture and Fixtures 10,496.29$

Cash 10,496.29$

18-Feb Inventory 10,438.57$

Accounts Payable $10,438.57

18-Feb Supplies 2,059.35$

Cash $2,059.35

19-Feb Inventory (for inventory freight payament) 61.34$

Cash 61.34$

29-Feb Cash $6,247.49

Revenue $6,247.49

Cost of Goods Sold $4,326.47

Inventory $4,326.47

28-Feb Withdrawal (Salary paid to owner) $1,458.33

Cash $1,458.33

29-Feb Adjusting Entries Salary Expense (for 2/22 - 2/26) 832.00$

Salary Payable 832.00$

29-Feb Interest Expense 133.33$

Interest Payable 133.33$

29-Feb Rent Expense 1,000.00$

Prepaid Rent 1,000.00$

29-Feb Depreciation Expense (for machinery) 169.43$

Accumulated Depreciation 169.43$

29-Feb Depreciation Expense (cash register) 23.65$

Accumulated Depreciation 23.65$

29-Feb Depreciation Expense (for furniture) 124.96$

Accumulated Depreciation 124.96$

29-Feb Supplies Expense 539.43$

Supplies 539.43$

Balance Sheet Accounts

Cash Prepaid Rent Inventory Supplies

15-Feb 60,000.00$ 15-Feb 12,000.00$ 18-Feb $10,438.57 18-Feb $2,059.35

29-Feb

15-Feb 40,000.00$ 1,000.00$ 29-Feb $4,326.47 29-Feb

539.43$

15-Feb 11,000.00$

12,000.00$ $1,519.92

16-Feb 19-Feb 61.34$

1,419.00$

16-Feb $6,173.44

2,000.00$

16-Feb

10,166.00$

17-Feb

10,496.29$

18-Feb

$2,059.35

19-Feb

61.34$

29-Feb $6,247.49

28-Feb

$1,458.33

106,247.49$ 39,660.31$

66,587.18$

Machinery Furniture and Fixtures Accumulated Depreciation (for machinery) Accumulated Depreciation (for cash register

16-Feb 1,419.00$ 17-Feb 10,496.29$ 29-Feb 29-Feb

169.43$ 23.65$

16-Feb 10,166.00$

11,585.00$ 10,496.29$

Accumulated Depreciation (for furniture)

29-Feb

124.96$

Accounts Payable Notes Payable Salary Payable Interest Payable

18-Feb 15-Feb 29-Feb 29-Feb

$10,438.57 40,000.00$ 832.00$ 133.33$

Capital Withdrawal

15-Feb 28-Feb $1,458.33

60,000.00$

Income Statement Accounts

Sales Revenue Cost of Goods Sold

29-Feb 29-Feb $4,326.47

$6,247.49

Advertising Expense Salary Expense Interest Expense Rent Expense

16-Feb 2,000.00$ 29-Feb 832.00$ 29-Feb 133.33$ 29-Feb 1,000.00$

Depreciation Expense (for machinery) Depreciation Expense (for cash register) Depreciation Expense (for furniture)

29-Feb 169.43$ 29-Feb 23.65$ 29-Feb 124.96$

Supplies Expense

29-Feb 539.43$

Luscious Layers Bakery Luscious Layers Bakery

Unadjusted Trial Balance Adjusted Trial Balance

29-Feb-16 2/29/2016

Account Title Debits Credits Account Title Debits Credits Income Statement Balance Sheet

Cash 66,587.18$ Cash 66,587.18$ 66,587.18$

Accounts Receivable

Prepaid Rent 11,000.00$ Prepaid Rent 11,000.00$ 11,000.00$

Inventory $6,173.44 Inventory 6,173.44$ 6,173.44$

Supplies 1,519.92$ Supplies 1,519.92$ 1,519.92$

Machinery 11,585.00$ Machinery 11,585.00$ 11,585.00$

Furniture and Fixtures 10,496.29$ Furniture and Fixtures 10,496.29$ 10,496.29$

Accumulated Depreciation(machinery) 169.43$ Accumulated Depreciation(machinery) 169.43$ 169.43$

Accumulated Depreciation (cash register) 23.65$ Accumulated Depreciation (cash register) 23.65$ 23.65$

Accumulated Depreciation (furniture) 124.96$ Accumulated Depreciation (furniture) 124.96$ 124.96$

Accounts Payable $10,438.57 Accounts Payable 10,438.57$ 10,438.57$

Notes Payable 40,000.00$ Notes Payable 40,000.00$ 40,000.00$

Salary Payable 832.00$ Salary Payable 832.00$ 832.00$

Interest Payable 133.33$ Interest Payable 133.33$ 133.33$

Capital 60,000.00$ Capital 60,000.00$ 60,000.00$

Withdrawal $1,458.33 Withdrawal $1,458.33 $1,458.33

Sales Revenue $6,247.49 Sales Revenue $6,247.49 $6,247.49

Cost of Goods Sold 4,326.47$ Cost of Goods Sold 4,326.47$ 4,326.47$

Advertising Expense 2,000.00$ Advertising Expense 2,000.00$ 2,000.00$

Salary Expense 832.00$ Salary Expense 832.00$ 832.00$

Interest Expense 133.33$ Interest Expense 133.33$ 133.33$

Rent Expense 1,000.00$ Rent Expense 1,000.00$ 1,000.00$

Depreciation Expense 169.43$ Depreciation Expense 169.43$ 169.43$

Depreciation Expense 23.65$ Depreciation Expense 23.65$ 23.65$

Depreciation Expense 124.96$ Depreciation Expense 124.96$ 124.96$

Supplies Expense 539.43$ Suplies Expense 539.43$ 539.43$

117,969.43$ 117,969.43$ 117,969.43$ 117,969.43$ 9,149.27$ $6,247.49 108,820.16$ 111,721.94$

Net Loss 2,901.78$ 111,721.94$ 111,721.94$