Principles of Accounts SBA
Acknowledgements
I would like to thank all of the persons who helped me complete this project, especially my Aunt. It was long and tedious, but very fulfilling. I would also like to thank my teachers and my family members. I would like to thank most of all, God, whom I could not have finished this project without.
Aims and Objectives
The Aims and Objectives of this project include the following:
To prepare all of the accounts and statements for the business “Pastry Delights”
To provide the business with carefully thought out and reliable suggestions in order to make the business thrive
To show the business how well or how badly they do for the two periods
Description of Business
“Pastry Delights” is a small business that sells a variety of pastry, sandwiches, juices, and cakes. It is operated for two “fourteen day periods” during the month of July.
For the first period July 1- 15, the business operated at the roundabout at St. Andrew High School. In period two, July 17 – 30, it operated from the Emancipation Park in Liguanea.
In period one, cookies and sandwiches were sold. While in period two, a variety of cakes and juices was added to the inventory.
Period 1
The Transactions for the “Simulated Business” – “Pastry Delights”
For the period July 1 - 15
The business started on July 1, 2013, with a Capital of $40 000, in cash
July 2 Banked $30 000, and rented a “display case/counter” from “Display Jamaica” @ $1 000 per week, paying the first week by cheque. (Rent A/C)
July 3 Bought 12 boxes of assorted cookies, on credit from “Island Suppliers Ltd” @ $300 each; and paid $100 cash to have them delivered i.e. (Carriage Inwards A/C). Purchased 2 boxes of paper napkins (General Expenses A/C) @ $600 each paying by cheque, and we received a receipt.
July 4 Cash sales for the day amounted to $2 500; and we paid $1 200 cash to “Speed-O-Graphic Printers” for printing of signs and flyers (Printing and Stationary A/C); and we also bought plastic
I would like to thank all of the persons who helped me complete this project, especially my Aunt. It was long and tedious, but very fulfilling. I would also like to thank my teachers and my family members. I would like to thank most of all, God, whom I could not have finished this project without.
Aims and Objectives
The Aims and Objectives of this project include the following:
To prepare all of the accounts and statements for the business “Pastry Delights”
To provide the business with carefully thought out and reliable suggestions in order to make the business thrive
To show the business how well or how badly they do for the two periods
Description of Business
“Pastry Delights” is a small business that sells a variety of pastry, sandwiches, juices, and cakes. It is operated for two “fourteen day periods” during the month of July.
For the first period July 1- 15, the business operated at the roundabout at St. Andrew High School. In period two, July 17 – 30, it operated from the Emancipation Park in Liguanea.
In period one, cookies and sandwiches were sold. While in period two, a variety of cakes and juices was added to the inventory.
Period 1
The Transactions for the “Simulated Business” – “Pastry Delights”
For the period July 1 - 15
The business started on July 1, 2013, with a Capital of $40 000, in cash
July 2 Banked $30 000, and rented a “display case/counter” from “Display Jamaica” @ $1 000 per week, paying the first week by cheque. (Rent A/C)
July 3 Bought 12 boxes of assorted cookies, on credit from “Island Suppliers Ltd” @ $300 each; and paid $100 cash to have them delivered i.e. (Carriage Inwards A/C). Purchased 2 boxes of paper napkins (General Expenses A/C) @ $600 each paying by cheque, and we received a receipt.
July 4 Cash sales for the day amounted to $2 500; and we paid $1 200 cash to “Speed-O-Graphic Printers” for printing of signs and flyers (Printing and Stationary A/C); and we also bought plastic