date Cash date date Notes Payable date Business License exp

date	Cash	date		date	Notes Payable	date		Business License exp			Common Stock
1-Jul	10,000.00						10,000	3-Jul	10-Jul	375.00					10,000	1-Jul
3-Jul	10,000.00														6,000	13-Jul
		3,000.00	7-Jul			-				375.00	-			-
		375.00	10-Jul					Balance	Balance	375.00					-	Balance
		250.00	11-Jul
		200.00	13-Jul
		300.00	14-Jul
		2,400.00	31-Jul
31-Jul	10,000.00
		120.00	5-Aug
8-Aug
		75.00	10-Aug
18-Aug	3,000.00
		1,500.00	15-Aug
		8,500.00	20-Aug			Accounts Rec.			Insurance expense
		480.00	20-Aug		31-Jul	5,000.00
		300.00	22-Aug				3,800.00	8-Aug
31-Aug	12,500.00						3,000.00	18-Aug
		10,000.00	1-Sep		31-Aug	7,500.00
		420.00	5-Sep				4,000.00	8-Sep
		60.00	7-Sep		30-Sep	6,000.00
8-Sep	4,000.00
		75.00	10-Sep			########	########
		5,000.00	13-Sep		Balance	7,700.00
		1,500.00	15-Sep
15-Sep	68.00
		456.00	20-Sep
		122.00	20-Sep
24-Sep	153.00
		151.25	30-Sep
30-Sep	14,000.00
	63,721.00	35,284.25
Balance	28,436.75
	Misc. expense				Baking equipment				Advertising expense
11-Jul	250.00				13-Jul	6,000				13-Jul	200.00
	250.00	-				6,000.00	-				200.00	-
Balance	250.00				Balance	6,000.00				Balance	200.00
	Baking supplies				Office supplies				Rent expense
1-Jul	6,500				14-Jul	300				7-Jul	1,500
15-Aug	5,000				22-Aug	300				15-Aug	1,500
11-Sep	7,000									15-Sep	1,500
	18,500.00	-				600.00	-				4,500.00	-
Balance	18,500.00				Balance	600.00				Balance	4,500.00
	Prepaid rent				Prepaid insurance				Bakery Sales
7-Jul	1,500				31-Jul	2,400						15,000	31-Jul
												20,000	31-Aug
												20,000	30-Sep
	1,500.00	-				2,400.00	-				-	55,000.00
Balance	1,500.00				Balance	2,400.00						55,000.00	Balance
	Accounts payable				Wages expense				Wages payable
		6,500.00	1-Jul		31-Jul	120						120	31-Jul
		75	30-Jul		15-Aug	480				5-Aug	120
10-Aug	75				31-Aug	420						480	15-Aug
		5,000	15-Aug		15-Sep	456				20-Aug	480
20-Aug	8,500				30-Sep	480						420	31-Aug
		75	31-Aug							5-Sep	420
10-Sep	75											456.00	15-Sep
		7,000.00	11-Sep							20-Sep	456
13-Sep	5,000											480.00	30-Sep
	13,650	18,650				1,956	-				1,476	1,956
		5,000	Balance		Balance	1,956						480	Balance
						Dividends				depreciation expense
	Telephone expense			1-Sep	10,000
30-Jul	75
31-Aug	75
						10,000	-								acc dep
					Balance	10,000
	150	-									Interest expense
Balance	150
	baking supplies expense								COGS FIFO			Interest payable
										15-Sep	48.00
										24-Sep	109.60
	misc supplies expense
											157.60	-
										Balance	157.60
	Merchandise Sales
		68.00	15-Sep						Merch. Inv. FIFO
		153.00	24-Sep						7-Sep	60.00
											48.00	15-Sep
									20-Sep	122.00
	-	221									109.60	24-Sep
		221	Balance						30-Sep	151.25
										333.25	157.60
									Balance	175.65

Solution

Income statement Bakery sales 55000 Mercandise sales 221 55221 Less: expenses Cost of good sold 157.6 Business licence expense 375 Advertsiing expenses 200 Rent expenses 4500 Wages expenses 1956 Telephone expenses 150 Mis exp 250 Total expenses 7588.60 Net Income 47632.40 Peyton Approved Statement of Retained Earnings For Qtr. Ending 9/30/2018 Beginning Balance: 0      plus Net Income (FIFO) 47632.40 less Dividends: -10000 Ending Balance (FIFO): 37632.4 Peyton Approved Balance Sheet As of September 30, 2018 Assets Liabilities and Owners\' Equity Current Assets: Current Liabilities: Cash $28,436.75 Accounts payable 5000 Accounts receivable 7700 Wages payable 480 Inventory 175.6 Total Current Liabilities 5480 Baking Supplies 18500 Long-Term Liabilities: Office supplies 600 Notes payable 10000 Prepaid Rent 1500 Total Long-Term Liabilities: 10000 Prepaid Insurance 2400 Total Current Assets $59,312.35 Total Liabilities: 15480 Long-Term/Fixed Assets: Equity: Baking Equipment 6000 Common stock 16000      Less Accumulated Depreciation Retained Eranings 37632.4 Total Long-Term/Fixed Assets 6000 Total Equity 53632.4 Total Assets: $65,312.35 Total Liabilities & Equity 69112.4 As per the T accounts the Balance Sheet can be preapred. There is some information missing