Accounting Summary Report

Taquisha Renolds

Accounting Summary Report

BUS 599: Intro to Quantitative Principles

Instructor: Harrison Green

May 23, 2011

First Season

Day 1 - Weather was cloudy

Partnership formed using $20 cash from each of two partner as initial capital so after forming partnership starting inventory: cash = $40. Purchases charged today are 2 pitchers for $6.5, 2 mixing spoons for $5, 100 drinking cups for $3, 20 tubs of lemonade mix for $10, 4 bags of ice for $7. Today sales = $27.5 (55 @ 0.5) out of 87 in 5.25 hours. Inventory used 75 drinking cups value at $2.25, 12 tubs of lemonade mix value at $6, 4 bags of ice value at $7. Ending cash was $67.5 and the store balance was $31.5

Day 2 - Weather was cloudy

Starting Inventory: cash = $67.5, pitchers = 2 worth $6.5, mixing spoons = 2 worth $5, drinking cups = 25 worth $0.75, tubs of lemonade mix = 8 worth $4. Purchases charged today are 100 drinking cups for $3, 15 tubs of lemonade mix for $7.5, 5 bags of ice for $8.75. Today sales = $32.5 (65 @ 0.5) out of 103 in 5 hours. Inventory used 86 drinking cups value at $2.58, 14 tubs of lemonade mix value at $7, 5 bags of ice value at $8.75. Ending cash was $100 and the store balance was $50.75

Day 3 - Weather was normal

Starting Inventory: cash = $100, pitchers = 2 worth $6.5, mixing spoons = 2 worth $5, drinking cups = 39 worth $1.17, tubs of lemonade mix = 9 worth $4.5. Purchases charged today are 100 drinking cups for $3, 15 tubs of lemonade mix for $7.5, 5 bags of ice for $8.75. Today sales = $37.5 (75 @ 0.5) out of 124 in 5 hours. Inventory used 89 drinking cups value at $2.67, 16 tubs of lemonade mix value at $8, 5 bags of ice value at $8.75. Ending cash was $137.5 and the store balance was $70

Day 4 - Weather was sunny

Paid store charge account balance of $70. Starting Inventory: cash = $67.5, pitchers = 2 worth $6.5, mixing spoons = 2 worth $5, drinking cups = 50 worth $1.5, tubs of lemonade mix = 8 worth $4. Purchases charged today are 100...