Jamie Acker

statements_for_project.xlsx

February 28th Balance Sheet

EX 4 [Loletha Bowdry] Kristin Raina Interior Designs
Balance Sheet
As of February 28, 2017
					Feb 28, 17
ASSETS
	Current Assets
		Checking/Savings
			1010 · Cash - Operating		47,400.00
		Total Checking/Savings			47,400.00
		Accounts Receivable
			1200 · Accounts Receivable		1,540.00
		Total Accounts Receivable			1,540.00
		Other Current Assets
			1300 · Design Supplies		200.00
			1305 · Office Supplies		250.00
			1410 · Prepaid Advertising		500.00
			1420 · Prepaid Insurance		2,200.00
		Total Other Current Assets			3,150.00
	Total Current Assets				52,090.00
	Fixed Assets
		1700 · Furniture
			1725 · Furniture, Cost		12,000.00
			1750 · Accum. Dep., Furniture		-100.00
		Total 1700 · Furniture			11,900.00
		1800 · Computers
			1825 · Computers, Cost		3,600.00
			1850 · Accum. Dep., Computers		-60.00
		Total 1800 · Computers			3,540.00
	Total Fixed Assets				15,440.00
TOTAL ASSETS					67,530.00
LIABILITIES & EQUITY
	Liabilities
		Current Liabilities
			Accounts Payable
				2010 · Accounts Payable	6,250.00
			Total Accounts Payable		6,250.00
			Other Current Liabilities
				2020 · Notes Payable	7,000.00
				2030 · Interest Payable	50.00
			Total Other Current Liabilities		7,050.00
		Total Current Liabilities			13,300.00
	Total Liabilities				13,300.00
	Equity
		3010 · Kristin Raina, Capital			50,000.00
		3020 · Kristin Raina, Drawings			-400.00
		Net Income			4,630.00
	Total Equity				54,230.00
TOTAL LIABILITIES & EQUITY					67,530.00

EX5 [Loletha Bowdry] Kristin Raina Interior Designs
Balance Sheet
As of March 31, 2017
					Mar 31, 17
ASSETS
	Current Assets
		Checking/Savings
			1010 · Cash - Operating		50,855.38
		Total Checking/Savings			50,855.38
		Accounts Receivable
			1200 · Accounts Receivable		1,540.00
		Total Accounts Receivable			1,540.00
		Other Current Assets
			1260 · Inventory of Carpets		800.00
			1265 · Inventory of Draperies		1,000.00
			1270 · Inventory of Lamps		1,000.00
			1275 · Inventory of Mirrors		900.00
			1300 · Design Supplies		200.00
			1305 · Office Supplies		250.00
			1410 · Prepaid Advertising		500.00
			1420 · Prepaid Insurance		2,200.00
		Total Other Current Assets			6,850.00
	Total Current Assets				59,245.38
	Fixed Assets
		1700 · Furniture
			1725 · Furniture, Cost		12,000.00
			1750 · Accum. Dep., Furniture		-100.00
		Total 1700 · Furniture			11,900.00
		1800 · Computers
			1825 · Computers, Cost		3,600.00
			1850 · Accum. Dep., Computers		-60.00
		Total 1800 · Computers			3,540.00
	Total Fixed Assets				15,440.00
TOTAL ASSETS					74,685.38
LIABILITIES & EQUITY
	Liabilities
		Current Liabilities
			Accounts Payable
				2010 · Accounts Payable	9,750.00
			Total Accounts Payable		9,750.00
			Other Current Liabilities
				2020 · Notes Payable	7,000.00
				2030 · Interest Payable	50.00
			Total Other Current Liabilities		7,050.00
		Total Current Liabilities			16,800.00
	Total Liabilities				16,800.00
	Equity
		3010 · Kristin Raina, Capital			50,000.00
		3020 · Kristin Raina, Drawings			-400.00
		Net Income			8,285.38
	Total Equity				57,885.38
TOTAL LIABILITIES & EQUITY					74,685.38

EX 4 [Loletha Bowdry] Kristin Raina Interior Designs
Profit & Loss
January through February 2017
				Jan - Feb 17
	Ordinary Income/Expense
		Income
			4010 · Design Services	4,740.00
			4020 · Decorating Services	2,500.00
		Total Income		7,240.00
		Expense
			6020 · Accounting Expense	300.00
			6050 · Advertising Expense	100.00
			6175 · Deprec. Exp., Furniture	100.00
			6185 · Depreciation Expense - Computer	60.00
			6200 · Insurance Expense	200.00
			6300 · Janitorial Expenses	125.00
			6325 · Office Supplies Expense	150.00
			6400 · Rent Expense	800.00
			6450 · Telephone Expense	275.00
			6500 · Utilities Expense	450.00
		Total Expense		2,560.00
	Net Ordinary Income			4,680.00
	Other Income/Expense
		Other Expense
			7000 · Interest Expense	50.00
		Total Other Expense		50.00
	Net Other Income			-50.00
Net Income				4,630.00

EX5 [Loletha Bowdry] Kristin Raina Interior Designs
Profit & Loss
January through March 2017
					Jan - Mar 17
	Ordinary Income/Expense
			Income
				4010 · Design Services	4,980.00
				4020 · Decorating Services	3,400.00
				4060 · Sale of Carpets	2,400.00
				4065 · Sale of Draperies	1,000.00
				4070 · Sale of Lamps	1,200.00
				4075 · Sale of Mirrors	900.00
				4100 · Sales Discounts	-84.62
			Total Income		13,795.38
			Cost of Goods Sold
				5060 · Cost of Carpets Sold	1,200.00
				5065 · Cost of Draperies Sold	500.00
				5070 · Cost of Lamps Sold	600.00
				5075 · Cost of Mirrors Sold	450.00
				5900 · Inventory Adjustment	150.00
			Total COGS		2,900.00
		Gross Profit			10,895.38
			Expense
				6020 · Accounting Expense	300.00
				6050 · Advertising Expense	100.00
				6175 · Deprec. Exp., Furniture	100.00
				6185 · Deprec. Exp., Computers	60.00
				6200 · Insurance Expense	200.00
				6300 · Janitorial Expenses	125.00
				6325 · Office Supplies Expense	150.00
				6400 · Rent Expense	800.00
				6450 · Telephone Expense	275.00
				6500 · Utilities Expense	450.00
			Total Expense		2,560.00
	Net Ordinary Income				8,335.38
	Other Income/Expense
		Other Expense
			7000 · Interest Expense		50.00
		Total Other Expense			50.00
	Net Other Income				-50.00
Net Income					8,285.38