Music Mart

Balance Sheet
As of Jan. 4

Assets Liabilities & Owner's Equity

Cash $ 33,250.00 Notes Payable $ 12,500.00
Inventory 4,500.00 Paid-in Capital 25,000.00
Total $ 37,750.00 Retained Earnings 250.00
Total $ 37,750.00

Music Mart
Balance Sheet
Transaction 1

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 33,250.00 Notes Payable $ 12,500.00
Inventory 9,500.00 Accounts Payable 5,000.00
Total Assets: $ 42,750.00 Long-term Liabilities:
Paid-in Capital 25,000.00
Retained Earnings 250.00
Total Liabilities & Owner's Equity $ 42,750.00

Music Mart
Balance Sheet
Transaction 2

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 35,550.00 Notes Payable $ 12,500.00
Inventory 8,000.00 Accounts Payable 5,000.00
Total Assets: $ 43,550.00 Long-term Liabilities:
 Paid-in Capital 25,000.00
Retained Earnings 1,050.00
Total Liabilities & Owner's Equity $ 43,550.00

Music Mart
Balance Sheet
Transaction 3

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 35,550.00 Notes Payable $ 12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Total Assets: $ 44,470.00 Paid-in Capital 25,000.00
Retained Earnings 1,970.00
Total Liabilities & Owner's Equity $ 44,470.00

Music Mart
Balance Sheet
Transaction 4

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 34,326.00 Notes Payable $ 12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Total Assets: $ 44,470.00 Total Liabilities & Owner's Equity $ 44,470.00

Music Mart
Balance Sheet
Transaction 5
 Assets Liabilities & Owner's Equity
Current Assets: Current Liabilities:
Cash $ 28,326.00 Notes Payable $ 12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Land 24,000.00 Long-term debt 18,000.00
Total Assets: $ 62,470.00 Total Liabilities & Owner's Equity $ 62,470.00

Music Mart
Balance Sheet
Transaction 6

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 31,326.00 Notes Payable $ 12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 53,470.00 Total Liabilities & Owner's Equity $ 53,470.00

Music Mart
Balance Sheet
Transaction 7 (No Changes/No Effect)

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 31,326.00 Notes Payable $ 12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 53,470.00 Total Liabilities & Owner's Equity $ 53,470.00

Music Mart
Balance Sheet
Transaction 8

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 30,326.00 Notes Payable $ 12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 970.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 52,470.00 Total Liabilities & Owner's Equity $ 52,470.00

Music Mart
Balance Sheet
Transaction 9

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 30,326.00 Notes Payable $ 12,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 51,720.00 Total Liabilities & Owner's Equity $ 51,720.00

Music Mart
Balance Sheet
Transaction 10 (No Change/No Effect)
 Assets Liabilities & Owner's Equity
Current Assets: Current Liabilities:
Cash $ 30,326.00 Notes Payable $ 12,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 51,720.00 Total Liabilities & Owner's Equity $ 51,720.00

Music Mart
Balance Sheet
Transaction 11

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 24,326.00 Notes Payable $ 6,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 45,720.00 Total Liabilities & Owner's Equity $ 45,720.00

Music Mart
Balance Sheet
Transaction 12 (No Change/No Effect-Personal Transaction Only)

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 24,326.00 Notes Payable $ 6,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 45,720.00 Total Liabilities & Owner's Equity $ 45,720.00

Music Mart
Balance Sheet
Transaction 13

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $ 25,636.00 Notes Payable $ 6,500.00
Inventory 4,700.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 680.00
Land 12,000.00 Long-term debt 9,000.00
Total Assets: $ 46,180.00 Total Liabilities & Owner's Equity $ 46,180.00
 Assets
Cash Accts. Receivable Inventory Prepaid Insurance Land
33,250.00 4,500.00
1 5,000.00
2 2,300.00 (1,500.00)
3 2,620.00 (1,700.00)
4 (1,224.00) 1,224.00
5 (6,000.00) 24,000.00
6 3,000.00 (12,000.00)
7 no effect no effect no effect no effect no effect
8 (1,000.00)
9 (750.00)
10 no effect no effect no effect no effect no effect
11 (6,000.00)
12 no effect no effect no effect no effect no effect
13 1,310.00 (850.00)
25,636.00 2,620.00 4,700.00 1,224.00 12,000.00
46,180.00

Liabilities
Accts. Payable Notes Payable Mortgage Payable Paid-in Capital Additional Paid-in Capital Retained Earnings
12,500.00 25,000.00 250.00
5,000.00
1 800.00
2 920.00
3
4 18,000.00
5 (9,000.00)
6 no effect no effect no effect no effect no effect
7 (1,000.00)
8 (750.00)
9 no effect no effect no effect no effect no effect
10 (6,000.00)
11 no effect no effect no effect no effect no effect
12 460.00
13 5,000.00 6,500.00 9,000.00 25,000.00 - 680.00
46,180.00
 Music Mart
Balance Sheet
As of Jan. 4

Assets Liabilities & Owner's Equity

Cash $33,250.00 Notes Payable $12,500.00
Inventory 4,500.00 Paid-in Capital 25,000.00
Retained Earnings 250.00
Total $37,750.00 Total $37,750.00

Music Mart
Balance Sheet
Transaction 1

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $33,250.00 Notes Payable $12,500.00
Inventory 9,500.00 Accounts Payable 5,000.00
Long-term Liabilities:
Paid-in Capital 25,000.00
Retained Earnings 250.00
Total Assets: $42,750.00 Total Liabilities & Owner's Equity $42,750.00

Music Mart
Balance Sheet
Transaction 2

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $35,550.00 Notes Payable $12,500.00
Inventory 8,000.00 Accounts Payable 5,000.00
Long-term Liabilities:
Paid-in Capital 25,000.00
Retained Earnings 1,050.00
Total Assets: $43,550.00 Total Liabilities & Owner's Equity $43,550.00
 Music Mart
Balance Sheet
Transaction 3

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $35,550.00 Notes Payable $12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Paid-in Capital 25,000.00
Retained Earnings 1,970.00
Total Assets: $44,470.00 Total Liabilities & Owner's Equity $44,470.00

Music Mart
Balance Sheet
Transaction 4

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $34,326.00 Notes Payable $12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Total Assets: $44,470.00 Total Liabilities & Owner's Equity $44,470.00

Music Mart
Balance Sheet
Transaction 5

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $28,326.00 Notes Payable $12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Land 24,000.00 Mortgage Payable 18,000.00
Total Assets: $62,470.00 Total Liabilities & Owner's Equity $62,470.00
 Music Mart
Balance Sheet
Transaction 6

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $31,326.00 Notes Payable $12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $53,470.00 Total Liabilities & Owner's Equity $53,470.00

Music Mart
Balance Sheet
Transaction 7 (No Effect)

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $31,326.00 Notes Payable $12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 1,970.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $53,470.00 Total Liabilities & Owner's Equity $53,470.00

Music Mart
Balance Sheet
Transaction 8

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $30,326.00 Notes Payable $12,500.00
Inventory 6,300.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 970.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $52,470.00 Total Liabilities & Owner's Equity $52,470.00

Music Mart
 Balance Sheet
Transaction 9

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $30,326.00 Notes Payable $12,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $51,720.00 Total Liabilities & Owner's Equity $51,720.00

Music Mart
Balance Sheet
Transaction 10 (No Change/No Effect)

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $30,326.00 Notes Payable $12,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $51,720.00 Total Liabilities & Owner's Equity $51,720.00

Music Mart
Balance Sheet
Transaction 11

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $24,326.00 Notes Payable $ 6,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $45,720.00 Total Liabilities & Owner's Equity $45,720.00

Music Mart
Balance Sheet
 Transaction 12 (No Change/No Effect-Personal Transaction Only)

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $24,326.00 Notes Payable $ 6,500.00
Inventory 5,550.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 220.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $45,720.00 Total Liabilities & Owner's Equity $45,720.00

Music Mart
Balance Sheet
Transaction 13

Assets Liabilities & Owner's Equity

Current Assets: Current Liabilities:
Cash $25,636.00 Notes Payable $ 6,500.00
Inventory 4,700.00 Accounts Payable 5,000.00
Accounts Receivable 2,620.00 Long-term Liabilities:
Long Term Assets: Paid-in Capital 25,000.00
Prepaid Expense (Insurance) 1,224.00 Retained Earnings 680.00
Land 12,000.00 Mortgage Payable 9,000.00
Total Assets: $46,180.00 Total Liabilities & Owner's Equity $46,180.00
Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity

Liabilities & Owner's Equity