Essay About Carmen Diaz And Cover Page

Ribbons An’ Bows, Inc. Case Study
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Case 1-1Ribbons an’ Bows, Inc.Table of Contents: Cover page………………………………………………..………………..
Customers paid $7,400 cash for ribbons.  In addition, Carmen was owed $320 for a large wedding delivery from June 30.Carmen paid a part-time employee $1,510 thus far.  She still owes the employee $90 for a weeks work in June.Carmen paid rent for the three-month period, as per the rental agreement.Carmen paid for inventory replenishments at $2,900.  Carmen’s estimated merchandise inventory on hand totaled $4,100 as of June 30.Carmen’s initial office supplies were all but obsolete, with the exception of roughly $20 worth of supplies.Carmen was puzzled when the company bank account showed $3,390 on June 30, instead of the $4,000 balance from April 1.  Also, she did not know how to state the following in her financial report: Carmen had not paid interest on her cousins’ loans.Carmen’s sewing machine, desktop computer, and computer software, which Carmen estimated to be worth money for longer than she anticipated.The free legal work performed by Carmen’s uncle, as well as the cash register and credit card machine provided by the credit card processor.Carmen’s anticipated salary and/or dividends that would commence as of July. Analysis/ConclusionReport on the three-month operations of Ribbons an’ Bows, Inc., through June 30:Ribbon an’ BowsIncome Statement   For the Period of April 1 to June 30, 2010Sales$7,400 + $320 = $7,720Cost of Sales($2,100)        (3,390 +2,900-$4,100)Gross Margin$5,620           (7,720 – 2,100)Employee Wages($1,600)        (1,510 + 90)Rent($1,800)        (600 x 3)Office Supplies($80)             (100-20)Depreciation for the Sewing Machine($60)             (1,800/5/12 x2)Depreciation for Computer($250)           (2,000/2/12 x3)Interest($200)           (.06 x 10,000 x 12 / 4)Advertising($150)Profit1,480