Running head ACCOUNTING SUMMARY REPORT 1Accounting .docx

Running head: ACCOUNTING SUMMARY REPORT
1
Accounting Summary Report
6
Accounting Summary Report
Running a lemonade business requires a lot especially in terms
of finances involved and the capacity to use them efficiently.
The business requires a number of accounting information in
order for the accounting records to be properly presented. First,
there is the recording of the day to day operational activities of
the stand which includes recording of the sales revenues, cash
received from customers as well as the expenses incurred
throughout the day. Presentation of this information can be done
through daily journaling or journaling at the end of the week.
Also after the journaling, the information is then presented in

legers from which the ledger is used to fill in both the income
statement and the balance sheet. It therefore requires the use of
reports in order to fully analyze how to use the products
appropriately and price the product. The aim of this paper is to
summarize the accounting information derived from Season one,
two and three and combine that data in order to present a full
overview of the Lemonade Stand. More precisely we will look
at the daily journal, the income statement and balance sheet as
well as the economic profit report in order to evaluate the
economic opportunities available to the business.
Looking at the daily journal in season one, it was clear that the
weather did not only have an impact on the level of sales
revenue that the business was able to achieve. It was therefore
an experiment to increase the price of each glass of lemonade
which had a positive effect on the level of revenue achieved.
Season One
Weather
Day
Starting Balance
Starting Inventory
Purchase Charges
Today Sales
Out Of
Inventory Used
Ending Cash
End Balance
1
Normal

$40.00
$0
$16.00
$16.80
0.043
$8.67
$56.80
$19.50
2
Normal
$56.80
$10.83
$6.75
$20.80
0.04
$8.76
$77.60
$26.25
3
Sunny
$77.60
$8.82
$13.75
$28.00
0.033
$8.67
$105.60
$40.00
4
Normal
$40.00
$13.90
$9.25
$31.20
0.048
$8.64

$96.80
$9.25
5
Normal
$96.80
$14.51
$13.75
$40.80
0.04
$13.19
$137.60
$23.00
6
Normal
$137.60
$15.27
$16.00
$48.30
0.036
$12.22
$185.90
$39.00
Total
Total
$448.80
$63.33
$79.00
$185.90
$0.24
$60.15
$660.30
$157.00
1-6 days
Average
$74.80
$12.67

$13.17
$30.98
$0.04
$10.03
$110.05
$26.17
For the income statement, Season three revealed the lowest
level of earnings with season two being the most profitable
season. However, there were losses experienced in season one
and two. It is important to note that the income statement
provided an alarming report of the business.
Income Statement for Seasons One, Two, and Three
Season One
Season Two
Season Three
Revenue
Units Sold
$55.60
$54.90
$87.50
Expenses

Supplies
$34.40
$0.80
$83.00
TOTAL EARNINGS
$21.20
$54.10
$4.50
On the other hand, the balance sheet provided an overview of
the position of the business across the seasons. It was evident
that the retained earnings which affected the equity levels
continually increased. Also, it was evident in the increase in
investor confidence as they increased their contributions
towards the business.
Balance Sheet

Season One
Season Two
Season Three
Assets
Cash
$55.65
$54.90
$87.55
Inventory
$34.00
$0.80
$4.10
TOTAL ASSET
$89.65
$55.70
$91.65

Liabilities
Accounts Payable
$34.00
$0.80
$4.10
SUB TOTAL
$34.00
$0.80
$4.10
Equity
Owner Capital
$40.00
$40.00
$40.00

Earnings
$21.20
$54.00
$83.00
TOTAL
$61.20
$94.00
$123.00
The economic profit report was quite accurate in revealing a
true financial position of the business. According to the report,
the Lemonade stand began making a profit in season three, a
true profit in that matter.
Economic Profit Report
Season One
Season Two
Season Three
REVENUE

Explicit Revenue
$21.20
$54.00
$83.40
Implicit Revenue
$5.00
$9.00
$17.00
TOTAL REVENUE
$26.20
$63.00
$100.40
EXPENSES
Explicit Expenses
$34.40
$82.40

$4.10
Implicit Expenses
$52.50
$38.60
$45.40
TOTAL EXPENSES
$86.90
$121.00
$49.50
ECONOMIC PROFIT
$60.70
$58.00
$50.10
The Return on Equity generated by the business is quite high at
around 68% by Season three. This indicates that in season three
the business became more profitable and therefore was able to
generate a return to its owners. On the other hand, the return on
assets was quite constant over the seasons, this could be due to
the level of assets held by the business. Also these assets are a
necessity and therefore they affect the constant level of ROA
throughout the seasons. The current ratio shows that the
business is at a capacity to pay off its short term debts within
the period they fall due using its current assets. The business
eventually experienced a decrease in the current ratio which
shows that the company liquidity position was increasing and
therefore the company was in a good position which was a

lowered business risk. Since the company operates in a cash
basis, they do not have a debt ratio. This implies that the
company has a strong position of the debt to equity ratio as
most of the assets in the company are owned by the investors
and not debtors which reduces the amount of leverage the
company is exposed to. The profit margin was high in season
two as it was nearly 100 %, it was 50% in season one and it was
quite low in season three. The business owners need to identify
why this was the case and look into what can be done to remedy
the situation. To sum, the lemonade business was profitable
especially since the investment was done in a conservative
manner as well as the investment in inventory which ensured
that the Lemonade stand had sufficient product to satisfy the
demand.
Running Head: THE FINANCIAL HEALTH OF THE
LEMONADE BUSINESS STAND
FINANCIAL REPORT SUMMARY 6
Financial Report Summary: The Financial Health of the
Lemonade Stand Business

Financial health of the Lemonade Stand Business
The lemonade stand business is partnership venture that
deals in the sale of various beverage products. The two partners
(owners) of this business have contributed each $ 20 as startup
capital. Therefore it is important to note that the business is
mainly run on the partners’ contributed capital and also credit
granted by the suppliers. The financial health (performance) of
Lemonade stand business can be accessed by comparing the
financial ratios during season one and two and the overall
period performance the entire period. The business financial
health is therefore accessed using the statements that is
presented as below.
Table 1: Lamonade business balance sheet as at first season and
second season
First season
First season
assets
$
$
Cash
185.90
225.65
Inventories
10.05
14.85
Equipment
9.00
14.75
Total assets
204.95
455.25

liability
Account payable
39.0
58.0
Total liabilities
39.00
58.00
Equity
Owner capital
40.0
40.0
Retained earnings
125.95
357.25
Total equity
165.95
397.26
Total equity & liability
204.95
455.25
Table 2: Lamonade business income statement for first and the
second period
item
First season
Second season
Revenue
185.90
40.00
Expenses
59.95
96.70

Earnings/net income
125.95
231.30
Table 3: Financial report
ROE
75.9%
58.2%
ROA
61.5%
50.8%
Profit margin
67.8%
70.5%
Inventory turnover
5.97
6.51
Asset turnover
0.907
0.720
Current asset
5.02
7.59
Cash ratio
4.77
7.34

Debt-Equity Ratio
0.235
0.146
Return on equity (ROE)-A measure of financial performance
which shows the amount of profit that the business is able to
generate with every single amount of dollar of the shareholders
capital. Retained on equity (ROE) =net income/equity.
Lemonade business has a ROE of 75.9% and 58.2% for the first
and the second season respectively. Hence showing that the
business is doing well. For example in season one, for every 1
dollar invested, the owners get a return of 0.759 dollars.
Return on assets (ROA) - the ratio evaluates the profitability of
the partnership business with respect to its assets. ROA is
computed as net income divided by net assets. The business in
the first season of operation shows a better performance since it
indicates a higher ROA of 61.5% as compared to the second
season with a ROA of 50.6%. Hence it can be deduced that the
business first season was healthier than the second one. Again,
in general, it is important to note that the business assets
according to the ROA ratio are able to generate a good sale for
the venture hence showing that the venture is a going concern.
Profit margin ratio-the ratios tells the partners how first the
business is able to convert its sales into net income. For
instance how much dollar in sales the partnership business
keeps on generating. The business income statement reports that
a higher sales is witnessed in season two as compared to the
first one, thereby showing a higher profitability margin. The
table below compares the profitability margin of the two season.
Profitability margin=net profit/sales
Table 4: the profitability margin
Item
First season
Second season
Sales

185.90
328
Net income
125.95
231.30
Profit margin%
185.90/125.95
231.30/328
68.8%
70.5%
Inventory turnover-the stock turnover of Lemonade business
shows how many times during the season the stock was convert
into sales. Inventory turnover ratio is of great importance when
measuring the financial health of the business since it shows the
rate of stock conversion into sales. Inventory
turnover=sales/average inventory
Table 4: inventory turnover
Item
First season
Second season
Sales
185.90
32
Average inventory
10.5+59.97=70.47/2
35.38
14.85+85.91
100.77/2=50.38
Inventory turnover
185.90/35.38
328/50.38

5.97
6.51
Asset turnover-asset turnover tells the partners the efficiency of
which the venture is able to utilize the assets in generating the
revenue.
Asset turnover=
The first season has got a higher asset turnover of 0.907 as
compared to the second season which is 0.702, this is because
the first season has got a lower profit margin has compared to
season one.
Current ratio- the ratio basically shows whether the business is
able to meet its current financial obligation. It is obtained
getting the difference between the current liabilities and the
current assets. In the case Lemonade business, the partners can
use the ratio to evaluate the venture financial health since it
will give them the direction on financial borrowing. A current
ratio of more than one shows that the company is able to meet
its financial obligations since the assets is more than the
liabilities For instance the business has a current ratio of 5.02 in
the first season and 7.59 in the second season. By comparing the
two it vivid that partners have borrowed much for the business
in the first season has compared to the second season. Generally
using current ratio it can be concluded that the firm is in good
financial health.
Cash ratio- the ratio mainly measures liquidity of the various
business. Mostly it is used show whether the business is able to
meet its operational financial obligations from its most current
resources without having to sell its assets. The cash ratio for the
venture is 4.77 and 7.34 respectively. The ratios show that the
venture is having a higher cash ratio hence able to meet its
financial obligation without using its assets.
Debt-Equity ratio-the financial ratio is important in evaluating
the business financial health in that it shows its leverage ratio.
A firm leverage is basically the relationship between its equity

and debt as the mode of financing its operations. For example is
one that has got a higher debt in its capital structure. Lemonade
business has a Debt-Equity ratio of 0.235 and 0.146 for the first
and the second season respectively. The lower ratio shows that
the business has got less debt as compared to equity hence
showing that it is healthier for the partners to operate the
business.
In a nutshell, the ratios discussed above have presented the
financial health of this venture. The ratios are grouped into
performance, liquidity, leverage and valuation ratios. For
instance, liquidity rations which include current and cash ratios
show that Lemonade stand business is able to meet its financial
obligations as discussed above. Again performance ratios such
as ROE and ROA shows that the partnership business has a
higher return on the asset employed hence stipulating that the
business is healthier financially.
Description:
Total Possible Score: 10.00
Writes an Economic Summary Report
Total: 7.00
Distinguished - Writes a comprehensive and accurate economic
summary report (including income & expense report and
balance sheet), presenting the economic viability of the
Lemonade Stand Business.
Proficient - Writes an economic summary report (including
income & expense report and balance sheet), presenting the
economic viability of the Lemonade Stand Business. Minor
details are missing or inaccurate.
Basic - Writes a limited economic summary report (including
income & expense report and balance sheet), presenting the
economic viability of the Lemonade Stand Business. Relevant
details are missing and/or inaccurate.
Below Expectations - Attempts to Writes an economic summary
report (including income & expense report and balance sheet),

presenting the economic viability of the Lemonade Stand
Business; however, significant details are missing and/or
inaccurate.
Non-Performance - The economic summary report is either
nonexistent or lacks the components described in the assignment
instructions.
Critical Thinking: Explanation of Issues
Total: 0.50
Distinguished - Clearly and comprehensively explains in detail
the issue to be considered, delivering all relevant information
necessary for a full understanding.
Proficient - Clearly explains in detail the issue to be considered,
delivering enough relevant information for an adequate
understanding.
Basic - Briefly recognizes the issue to be considered, delivering
minimal information for a basic understanding.
Below Expectations - Briefly recognizes the issue to be
considered, but may not deliver additional information
necessary for a basic understanding.
Non-Performance - The assignment is either nonexistent or
lacks the components described in the instructions.
Written Communication: Content Development
Total: 0.50
Distinguished - Uses appropriate, pertinent, and persuasive
content to discover and develop sophisticated ideas within the
context of the discipline, shaping the work as a whole.
Proficient - Uses appropriate and pertinent content to discover
ideas within the context of the discipline, shaping the work as a
whole.
Basic - Uses appropriate and pertinent content but does not
apply it toward discovering or developing ideas. Overall,
content assists in shaping the written work.
Below Expectations - Uses content, though it may be unrelated
or inappropriate to the topic. Content does not contribute

toward the development of the written work and may distract
the reader from its purpose.
Written Communication:Context of and Purpose for Writing
Total: 0.50
Distinguished - Demonstrates methodical application of
organization and presentation of content. The purpose of the
writing is evident and easy to understand. Summaries, quotes,
and/or paraphrases fit naturally into the sentences and
paragraphs. Paper flows smoothly.
Proficient - Demonstrates sufficient application of organization
and presentation of content. The purpose of the writing is, for
the most part, clear and easy to understand. There are some
problems with the blending of summaries, paraphrases, and
quotes. Paper flows somewhat smoothly.
Basic - Demonstrates a limited understanding of organization
and presentation of content in written work. The purpose of the
writing is somewhat evident but may not be integrated
throughout the assignment. There are many problems with the
blending of summaries, paraphrases, and quotes. Paper does not
flow smoothly in all sections.
Below Expectations - Organization and presentation of content
are extremely limited. The purpose of the writing is unclear.
There is little or no blending of summaries, paraphrases, and
quotes. Paper does not flow smoothly when read.
Written Communication: Control of Syntax and Mechanics
Total: 0.50
Distinguished - Displays meticulous comprehension and
organization of syntax and mechanics, such as spelling and
grammar. Written work contains no errors and is very easy to
understand.

Proficient - Displays comprehension and organization of syntax
and mechanics, such as spelling and grammar. Written work
contains only a few minor errors and is mostly easy to
understand.
Basic - Displays basic comprehension of syntax and mechanics,
such as spelling and grammar. Written work contains a few
errors which may slightly distract the reader.
Below Expectations - Fails to display basic comprehension of
syntax or mechanics, such as spelling and grammar. Written
work contains major errors which distract the reader.
Written Communication: APA Formatting
Total: 0.50
Distinguished - Accurately uses APA formatting consistently
throughout the paper, title page, and reference page.
Proficient - Exhibits APA formatting throughout the paper.
However, layout contains a few minor errors.
Basic - Exhibits limited knowledge of APA formatting
throughout the paper. However, layout does not meet all APA
requirements.
Below Expectations - Fails to exhibit basic knowledge of APA
formatting. There are frequent errors, making the layout
difficult to distinguish as APA.
Written Communication: Page Requirement
Total: 0.50
Distinguished - The length of the paper is equivalent to the
required number of correctly formatted pages.
Proficient - The length of the paper is nearly equivalent to the
required number of correctly formatted pages.
Basic - The length of the paper is equivalent to at least three
quarters of the required number of correctly formatted pages.

Below Expectations - The length of the paper is equivalent to at
least one half of the required number of correctly formatted
pages.
Week Six Written Assignment Directions and Advice
At this point you should have three accounting periods of data.
Make sure seasons are connected. See the explanation of
connection in the Financial Summary Report instructions. You
must use Excel to produce the income statement and
balance sheet with appropriate ratios.
In addition to the Balance Sheet and Income Statement, the
Economic Summary Report must include an Economic Profit
statement, with implicit revenues and expenses by your own
estimates. Explain you rationale for arriving at these
estimates. Implicit revenues are related to the intrinsic value of
running the business; implicit expenses are opportunity
costs. The format of the financial statements should match the
Season Three sample.
Economic Advice:
Economic analysis deals with looking at “lost” opportunities.
The difference between accounting costs and economic
costs is opportunity costs. Opportunity costs are the costs of
not being able to participate in, or derive benefit from, an
alternate activity. In this part you can make some reasonable

assumptions. The first one is what the next best opportunity
is for the owners.
The same is true with revenue. Accounting revenue can be less
than economic revenue if there is a non-monetary benefit
to the owners. This is why some people take a job that pays less
money than another job because they like something
about the job better, like many people who like their job or their
coworkers have been known to turn down better paying
jobs because they thought the extra money wasn’t worth it.
The economic analysis isn’t hard, you simply need to make
some reasonable assumptions and support the assumptions.
Obviously if Pat’s and Jan’s next opportunity was to be CEO of
Microsoft, this business would have a big economic loss.
If Pat’s and Jan’s next best opportunity was cutting grass in
India for 10 cents an hour, it is a very profitable business.
Even if Pat and Jan really like the advantage of running their
own business versus flipping burgers for someone else, you
still have to put a price on it. There is a price in which Donald
Trump is willing to work for someone else – his TV
commercials and shows do take time away from his business.
Page 1
Sample Reports for Season Three
Balance Sheet Season 1 Season 2 Season 3
Assets

Cash $ 185.90 $ 425.65 $ 679.40
Inventories $ 10.05 $ 14.85 $ 1.59
Equipment $ 9.00 $ 14.75 $ 14.75
Total Assets $ 204.95 $ 455.25 $ 695.74
Liabilities
Account Payables $ 39.00 $ 58.00 $ 21.25
Total Liabilities $ 39.00 $ 58.00 $ 21.25
Equity
Owner Capital $ 40.00 $ 40.00 $ 40.00
Retain Earnings $ 125.95 $ 357.25 $ 634.49
Total Equity $ 165.95 $ 397.25 $ 674.49
Total Equity & Liabilities $ 204.95 $ 455.25 $
695.74
Accounting Income Statement
Revenue $ 185.90 $ 328.00 $ 404.00
Expenses $ 59.95 $ 96.70 $ 126.76
Earnings $ 125.95 $ 231.30 $ 277.24
Financial Report
ROE 75.9% 58.2% 41.1%
ROA 61.5% 50.8% 39.8%
Profit Margin 67.8% 70.5% 68.6%
Inventory Turnover 5.97 6.51 79.72
Asset Turnover 0.907 0.720 0.581
Current Ratio 5.02 7.59 32.05
Cash Ratio 4.77 7.34 31.97
Debt-Equity Ratio 0.235 0.146 0.032

Economic Profit Report
Explicit Revenue $ 185.90 $ 328.00 $ 404.00
Implicit Revenue $ 75.00 $ 50.00 $ 50.00
Total Revenues $ 260.90 $ 378.00 $ 454.00
Explicit Expenses $ 59.95 $ 96.70 $ 126.76
Implicit Expenses $ 156.00 $ 177.13 $ 210.25
Total Costs $ 215.95 $ 273.83 $ 337.01
Economic Profits $ 44.95 $ 104.18 $ 116.99
Page 2
Notes for Economic Profit Report
Implicit Revenue includes $50 for the value of being one own
boss for each season plus
$25 for season one for learning about running a business. (In
your report these need to
be justified.)
Implicit epenses are the number of hours worked times $6 for
season one, $6.50 for
season two, and $7.25 for season three. (In your report these
need to be justified.)
Explicit Revenue is the same as Revenues from the
“Accounting” Income Statement.
Explicit Expenses is the same as Expenses from the

“Accounting” Income Statement.
Page 3
Sample data from Game for season one used for the reports on
Page 1
First season
Day 1 - Weather was normal
Partnership formed using $20 cash from each of two partner as
initial capital so after forming partnership
starting inventory: cash = $40. Purchases charged today are 1
pitchers for $3.25, 1 mixing spoons for $2.5, 150
drinking cups for $4.5, 15 tubs of lemonade mix for $7.5, 1
bags of ice for $1.75. Today sales = $16.8 (56 @
0.3) out of 98 in 4.25 hours. Inventory used 64 drinking cups
value at $1.92, 10 tubs of lemonade mix value at
$5, 1 bags of ice value at $1.75. Ending cash was $56.8 and the
store balance was $19.5
Starting Inventory: cash = $56.8, pitchers = 1 worth $3.25,
mixing spoons = 1 worth $2.5, drinking cups = 86
worth $2.58, tubs of lemonade mix = 5 worth $2.5. Purchases
charged today are 10 tubs of lemonade mix for $5,
1 bags of ice for $1.75.
Today sales = $20.8 (52 @ 0.4) out of 93 in 3.75 hours.
Inventory used 67 drinking cups value at $2.01, 10 tubs of
lemonade mix value at $5, 1 bags of ice value at
$1.75. Ending cash was $77.6 and the store balance was $26.25
Day 3 - Weather was sunny

charged today are 150 drinking cups for $4.5, 15
tubs of lemonade mix for $7.5, 1 bags of ice for $1.75. Today
sales = $28 (56 @ 0.5) out of 105 in 3.5 hours.
$1.75. Ending cash was $105.6 and the store balance was $40
Paid store charge account balance of $40. Starting Inventory:
cash = $65.6, pitchers = 1 worth $3.25, mixing
spoons = 1 worth $2.5, drinking cups = 105 worth $3.15, tubs of
lemonade mix = 10 worth $5. Purchases
charged today are 15 tubs of lemonade mix for $7.5, 1 bags of
ice for $1.75. Today sales = $31.2 (52 @ 0.6) out
of 100 in 4.75 hours. Inventory used 63 drinking cups value at
$1.89, 10 tubs of lemonade mix value at $5, 1
bags of ice value at $1.75. Ending cash was $96.8 and the store
balance was $9.25
charged today are 1 pitchers for $3.25, 150
drinking cups for $4.5, 5 tubs of lemonade mix for $2.5, 2 bags
of ice for $3.5. Today sales = $40.8 (68 @ 0.6)
out of 125 in 5 hours. Inventory used 83 drinking cups value at
$2.49, 14 tubs of lemonade mix value at $7, 2
bags of ice value at $3.5. Ending cash was $137.6 and the store
balance was $23

worth $3.27, tubs of lemonade mix = 6 worth $3. Purchases
charged today are 25 tubs of lemonade mix for
$12.5, 2 bags of ice for $3.5. Today sales = $48.3 (69 @ 0.7)
out of 132 in 4.75 hours. Inventory used 74
drinking cups value at $2.22, 13 tubs of lemonade mix value at
$6.5, 2 bags of ice value at $3.5. Ending cash
was $185.9 and the store balance was $39
Page 4
Sample data from Game for season two used for the reports on
Page 1
Second season
spoons = 1 worth $2.5, drinking cups = 35 worth $1.05, tubs of
lemonade mix = 18 worth $9. Purchases charged
today are 100 drinking cups for $3, 10 tubs of lemonade mix for
$5, 2 bags of ice for $3.5. Today sales = $43.2
(108 @ 0.4) out of 169 in 4.75 hours. Inventory used 120
drinking cups value at $3.6, 19 tubs of lemonade mix
value at $9.5, 2 bags of ice value at $3.5. Ending cash was
$190.1 and the store balance was $11.5

charged today are 1 pitchers for $3.25, 1 mixing
spoons for $2.5, 250 drinking cups for $7.5, 35 tubs of
lemonade mix for $17.5, 2 bags of ice for $3.5. Today
sales = $50 (100 @ 0.5) out of 132 in 5.25 hours. Inventory
used 111 drinking cups value at $3.33, 18 tubs of
lemonade mix value at $9, 2 bags of ice value at $3.5. Ending
cash was $240.1 and the store balance was $45.75
mixing spoons = 2 worth $5, drinking cups = 154
charged today are 2 bags of ice for $3.5. Today
sales = $53 (106 @ 0.5) out of 132 in 4 hours. Inventory used
121 drinking cups value at $3.63, 19 tubs of
lemonade mix value at $9.5, 2 bags of ice value at $3.5. Ending
cash was $293.1 and the store balance was
$49.25
Paid store charge account balance of $49.25. Starting Inventory:
cash = $243.85, pitchers = 3 worth $9.75,
mixing spoons = 2 worth $5, drinking cups = 33 worth $0.99,
tubs of lemonade mix = 7 worth $3.5. Purchases
charged today are 300 drinking cups for $9, 10 tubs of lemonade
mix for $5, 2 bags of ice for $3.5. Today sales
= $49.8 (83 @ 0.6) out of 121 in 5 hours. Inventory used 94
drinking cups value at $2.82, 16 tubs of lemonade
mix value at $8, 2 bags of ice value at $3.5. Ending cash was

charged today are 55 tubs of lemonade mix for
$27.5, 2 bags of ice for $3.5. Today sales = $65.4 (109 @ 0.6)
out of 155 in 4.25 hours. Inventory used 123
drinking cups value at $3.69, 19 tubs of lemonade mix value at
$9.5, 2 bags of ice value at $3.5. Ending cash
was $359.05 and the store balance was $48.5
charged today are 200 drinking cups for $6, 2
bags of ice for $3.5. Today sales = $66.6 (111 @ 0.6) out of
139 in 4 hours. Inventory used 121 drinking cups
value at $3.63, 19 tubs of lemonade mix value at $9.5, 2 bags of
ice value at $3.5. Ending cash was $425.65 and
the store balance was $58
Page 5
Sample data from Game for season three used for the reports on
Page 1
Third season
spoons = 2 worth $5, drinking cups = 195 worth $5.85, tubs of
lemonade mix = 18 worth $9. Purchases charged

today are 550 drinking cups for $16.5, 120 tubs of lemonade
mix for $60, 3 bags of ice for $5.25. Today sales =
$60.8 (152 @ 0.4) out of 182 in 5 hours. Inventory used 168
drinking cups value at $5.04, 28 tubs of lemonade
mix value at $14, 3 bags of ice value at $5.25. Ending cash was
charged today are 3 bags of ice for $5.25.
Inventory used 143 drinking cups value at $4.29, 24
tubs of lemonade mix value at $12, 3 bags of ice value at $5.25.
Ending cash was $493.95 and the store balance
was $87
charged today are 3 bags of ice for $5.25.
Inventory used 154 drinking cups value at $4.62, 26
tubs of lemonade mix value at $13, 3 bags of ice value at $5.25.
Ending cash was $563.45 and the store balance
was $92.25
Paid store charge account balance of $92.25. Starting Inventory:
cash = $471.2, pitchers = 3 worth $9.75,
mixing spoons = 2 worth $5, drinking cups = 280 worth $8.4,
tubs of lemonade mix = 60 worth $30. Purchases
charged today are 3 bags of ice for $5.25. Today sales = $42
(70 @ 0.6) out of 111 in 4.75 hours. Inventory

used 84 drinking cups value at $2.52, 14 tubs of lemonade mix
value at $7, 3 bags of ice value at $5.25. Ending
cash was $513.2 and the store balance was $5.25
charged today are 3 bags of ice for $5.25. Today
sales = $74.4 (124 @ 0.6) out of 147 in 4.75 hours. Inventory
used 132 drinking cups value at $3.96, 22 tubs of
lemonade mix value at $11, 3 bags of ice value at $5.25. Ending
cash was $587.6 and the store balance was
$10.5
charged today are 100 drinking cups for $3, 5
tubs of lemonade mix for $2.5, 3 bags of ice for $5.25. Today
sales = $91.8 (153 @ 0.6) out of 176 in 5 hours.
$5.25. Ending cash was $679.4 and the store balance was $21.25

Running head ACCOUNTING SUMMARY REPORT 1Accounting .docx

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