1.Because of the loan, you have to provide the bank with your financial statements at the end of the month - Feb 28, 2021. (we have to make proper FS including adjustments)
1.Because of the loan, you have to provide the bank with your financial statements at the end of the month - Feb 28, 2021. (we have to make proper FS including adjustments)
2.You do a quick count of your inventory and find there are 19 pairs of shoes in inventory.
3.On March 2nd, you receive a report from Shopify that states your credit card processing fees for the last month totalled $250. Shopify will remove the amount due from your future sales transactions.
4.The March 2nd report also includes notice that your next $400 monthly fee will also simply reduce the amount received from future sales transactions.
5.You think that your office furniture etc. will last for about 3 years.
6.You do a quick check and find there's still about $370 worth of office and packing supplies left.
7.In your wallet you find receipts dating Feb 13 - Feb 28 from Canada Post. They are all for shipping the shoes to customers throughout the month. You must not have had business cheques because the total of the receipts, $1089, was all charged to your personal MasterCard.
![Packing and
Office Supplies
Office Furn &
AD: Office
Accounts
Unearned
Shoe Sale
Sales
Cost of
Online Store
Shipping
Costs
Accounts
interest
inventory depreciation spplies
Bank / Cash
Receivable
Inventory
Equipment
Furn & Equip
Payable
Revenue
Bank Loan
Equity
Drawings
Revenue
Returns
Sales
Expenses
Expense
Expense
Expense
Expense
BB
T1
10,000
10,000
T2
20,000
20,000
T3
2,500
2,500
T4
1,100
1,100
T5
500
500
T6
400
400
T7
1,200
1,200
T8
110
110
T9
100
100
T10
3,240
3,240
T11
4,000
4,000
T12
2,500
2,500
T13
15
15
T14
120
120
T15
500
500
T16
2,490
150
2,640
T17
15,000
15,000
AJE1
AJE2
AJE3
AJE4
AJES
AJE6
AJE7
Total 36,930 22,145
100
500
6,500
1,100
2,500 4,100 150 500 15,000 20,000
10,000 15
120 7,180
500
400
110
ЕВ
14,785
100
500
6,500
-1,100
1,600
350
5,000
10,000 15
7,060
500
400
110](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2b10f01a-0005-4862-96fe-0c2de1018b69%2F6523b2da-2242-4b4b-af71-5344a724aafb%2Fqds79bc_processed.png&w=3840&q=75)
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