Sunny Day Lemon-Aid Stand Season One Accounting Summary

lucky mean solar day Lemon-Aid impasse while One accountancy Summary Ronda Clark BUS 599 Quantitative Principles t distributivelyer Gualco 12/10/2012 blithe Day Lemon-Aid prevail age One Accounting Summary jolly Day Lemon-Aid Stand is a charitable organization knowing to assist diverse local charities who support families of children with special needs. It is a partnership naturalised by this writer and angiotensin-converting enzyme different equal investor, each investing $20.00 in sign capital. glad Day Lemon-Aid Stand is a seasonal business that realizes a decent bring in margin respective of its low initial investment and in operation(p) expenses; as such(prenominal) it uses accrual bum accounting due to variations and inconsistencies in income (Brownfield, 2007). The following is an examination of Sunny Day Lemon-Aid Stands initiatory season of operation, including a look at its lucubrate general diary (See appendix 1, p. 3) which, according to Brownfield (2007) records chronological execution dates, provides descriptions of transactions, highlights accounts that are affected, and records dollar amounts in calculates and credits as strong a look at Sunny Days season mavin income assertion (See Appendix 2, p. 4) and balance stable gear (See Appendix 3, p.).

Sunny Days accounting reports bugger off down with a general journal, which Brownfield (2007), fittingly identifies as a volume of original entry (p. 56), as it is the starting point for in all other financial statements. The first entry of day unrivalled identified the partnership and its commence capital of $40.00. The journal indeed showed subsequen t transactions such as the purchase of equip! ment which consisted of one pitcher and one smooch for a nominal $5.75, as well as supplies, which change in cost and are considered inventory on the debit side and accounts payable on the credit side (2007). The journal recorded all gross revenue of lemonade, including how many cups and at what damage for the entire season, consisting of days one through six. Sunny age Lemon-Aid Stand general...If you want to get a full essay, modulate it on our website: OrderEssay.net

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