# Accounting Summary Report

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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...