JENN'S FROYO, INC JENN'S FROYO, INC

GENERAL ENTRIES BALACE SHEET

FOR YEAR 2013 YEAR 2013
ENTRIES DR CR ASSETS:
1 CASH 100000 Cash 125900
Jennifer's Capital 60000 prepaid insurance 900
antonio and branon capital 40000 inventory 10000
Total current assets
2 cash 190000
sales 190000 PPE 23500

3 inventory 72000 TOTAL ASSETS 160300

a/c payable 25000
CASH 47000

4 inventory write of 2000 LIABLITIES:

inventory 2000 A/C payable 25000
accurred salaries 5000
5 Machine 25000 accrued Taxes 7575
Cash 25000
Equities:
6 REF inventory 2000 common stock 100000
Cash 2000 Retainned Earnings 22725
6 Cash 1300
loss 200 Total Liab and Equites 160300
Refigerator 1500

7 Equip (Ref) 4000

CASH 4000

8 Operating exp 90600

prepaid licencse 1800 DR
cash 87400 cash 291300
accrued salaries 5000

AD dep exp machine 5000

acc dep machine 5000

AD dep exp REF both 1000

acc dep ref 1000

AD License exp 900

Prepaid License 900
AD COGS 60000
inventory 60000

AD Tax exp 7575

accured Tax 7575
 JENN'S FROYO, INC
INCOME STATEMENT
YEAR 2013

Sales 190000
COGS 60000

GROSS PROFIT 130000

Operating Exp

Advertising 3000
license 900
Dep 6000
Inventory write of 2000
Loss on REF 200
rent 24000
Salaries 60000
Utilites 3600
99700

EBIT 30300
Income Tax 7575

NET INCOME 22725

CR
165400 125900
 JENN'S FROYO, INC JENN'S FROYO, INC
GENERAL ENTRIES BALACE SHEET
FOR YEAR 2014 YEAR 2013
ENTRIES DR CR ASSETS:
1 cash 295500 Cash 125900
bank charges 4500 prepaid insurance 900
Sales 300000 inventory 10000
Total current assets
2 Asset impaiment Loss 5000 tresury bills 0
Asset 5000 Interst Rec
PPE 23500
3 tresury bill 30000 TOTAL ASSETS 160300
cash 30000

4 no entry
LIABLITIES:
5 Rent exp 36000 A/C payable 25000
cash 36000 accurred salaries 5000
accrued Taxes 7575
6 inventory 120000
cash 116000 Equities:
A/c payable 4000 common stock 100000
Retainned Earnings 22725
7 COGS 115000
Inventory 115000 Total Liab and Equites 160300

8 accrued salaries 5000

accrued Tax 7575
Cash 12575

9 Operating exp 73000

cash 73000

10 dividend exp 12500

cash 12500

AD License exp 900

prepaid license 900

AD ACC DEP REF 1000

DEP EXP 1000

AD ACC DEP MACHINE 5000

DEP EXP 5000
AD TAX EXP 16600
CASH 16600

AD Capital gain Rec 1800

Capital Gain 1800
OYO, INC JENN'S FROYO, INC
SHEET INCOME STATEMENT
2014 YEAR 2013 2014
Sales 190000 300000
124725 capital gain 6% 0 1800
0 COGS 60000 115000
15000
GROSS PROFIT 130000 186800
30000 Operating Exp:
1800
17500
189025 BANK CHARGES 0 4500
Advertising 3000 6000
license 900 900
Dep 6000 6000
Inventory write of 2000 0
29000 Loss on REF 200 0
0 rent 24000 36000
0 Salaries 60000 62000
Utilites 3600 5000 dif
99700 120400
100000
60025 EBIT 30300 66400
Income Tax 25% 7575 16600
189025 Dividend exp 0 12500
Retainned Earning 22725 37300
0