Sunny Day Lemon-Aid Stand Season One Accounting Summary

lucky mean solar day Lemon-Aid jump out gentle One accountancy Summary Ronda Clark BUS 599 Quantitative Principles instructor Gualco 12/10/2012 blithe Day Lemon-Aid erect gentle One Accounting Summary jolly Day Lemon-Aid Stand is a charitable organization knowing to assist assorted local charities who support families of children with special needs. It is a partnership schematic by this writer and wholeness different equal investor, al unmatched(prenominal) investing $20.00 in sign capital. glad Day Lemon-Aid Stand is a seasonal business that realizes a decent profits margin respective of its low initial investment and operating(a) 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 expound general diary (See appendix 1, p. 3) which, according to Brownf ield (2007) records chronological dealings dates, provides descriptions of transactions, highlights accounts that ar affected, and records dollar amounts in calculates and credits as good a look at Sunny Days season matchless income assertion (See Appendix 2, p. 4) and balance pall (See Appendix 3, p.).

Sunny Days accounting reports deject with a general journal, which Brownfield (2007), fittingly identifies as a take of original entry (p. 56), as it is the starting point for all other financial statements. The first entry of day one identified the partnership and its commence capital of $40.00. The journal therefore showed subsequent transactions such as the purchase of equipment which consisted of one pitcher an! d 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 put down a full essay, modulate it on our website: OrderEssay.net

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