Franks hotdogs Accounting Assignment

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HotDogCartFinancials.xlsx
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Frank's Hot Cog Cart Financials
Justification:
Current Financial Statements (use the links below to access the templates)
Income Statement
Balance Sheet

Income Statement

Frank's Back to Main
INCOME STATEMENTS
Three Months Ended December 31, Six Months Ended December 31,
2014 2014
Revenue $ 20,885 $ 38,257
Operating expenses:
Cost of revenue 5,638 9,415
Sales and marketing 3,762 6,662
General and administrative 1,120 2,283
Total operating expenses 12,891 23,060
Net income $ 6,624 $ 12,362

Balance Sheet

Frank's Back to Main
BALANCE SHEETS
December 31, 2014
Assets (expand the list to include all assets)
Current assets:
Cash and cash equivalents $ 10,610
Accounts receivable 13,643
Inventories 1,351
Other 3,614
Total current assets 72,513
Property and equipment, net of accumulated depreciation of ____ 8,010
Total assets $ 112,243
Liabilities and stockholders' equity (Not needed for Part 1)
Current liabilities:
Accounts payable
Accrued expenses
Other
Total current liabilities
Long-term debt
Total liabilities
Commitments and contingencies
Stockholders' equity:
Money from Mom & Dad
Total stockholders' equity
Total liabilities and stockholders' equity