Jordan Hardware & Construction Supply
Statement of Cost of Sales
For the year ended - December 31, 2019
Merchandise Inventory - January 1, 2019 2,980,000.00
Add: Net Cost of Purchases
Purchases 1,880,000.00
Less: Purchase Ret. & Allowances 5,900.00
Purchase Discounts 10,300.00 16,200.00
Add: Freight In 9,810.00 1,873,610.00
Total Goods Available for Sale 4,853,610.00
Less: Merchandise Inventory - December 31, 2019 1,010,000.00
Cost of Sales 3,843,610.00
Jordan Hardware & Construction Supply
Statement of Financial Performance
For the year ended - December 31, 2019
Sales 5,452,000.00
Less: Sales Return & Allowances 12,500.00
Sales Discounts 14,600.00 27,100.00
Net Sales 5,424,900.00
Less: Cost of Sales 3,843,610.00
Gross Profit from Sales 1,581,290.00
Less: Operating Expenses
Selling Expenses
Sales Salaries – Selling 188,000.00
Sales Commission – Selling 80,000.00 268,000.00
General & Admin Expenses
Office Salaries – General 160,000.00
Taxes and Licences – General 64,300.00
Rent Expense – General 176,000.00
Utilities Expense – General 140,000.00 540,300.00 808,300.00
Operating Income - EBITDA 772,990.00
Less: Tax Due - Invidual Income Tax 123,247.50
Net Income 649,742.50
Jordan Hardware & Construction Supply
Statement of Changes in J. Alegre Capital
For the year ended - December 31, 2019
J. Alegre, Capital - January 1, 2019
N. Alegre, Capital 2,382,010.00
Add: Net Income 649,742.50
Total 3,031,752.50
N. Alegre, Drawing 60,000.00
J. Alegre,Capital - December 31, 2019 2,971,752.50
Jordan Hardware & Construction Supply
Statement of Changes of Financial Position
As of - December 31, 2019
Assets
Current Assets
Cash in Bank 2,050,000.00
Accounts Receivable 185,000.00
Less: Estimated Uncollectible Accounts 4,000.00 181,000.00
Merchandise Inventory, Dec. 31, 2019 1,010,000.00
Unused Supplies 54,000.00
Total Current Assets 3,295,000.00
Non- Current Asssets
Furniture & Fixtures 1,300,000
Less:Accumulated Depreciation – Furniture & Fixture 520,000 780,000.00
Total Assets 4,075,000.00
Liabilities & Owner's Equity
Current Liabilities
Accounts Payable 980,000.00
Income Tax Payable 123,247.50
Total Current Liabilities 1,103,247.50
J. Alegre Capital - December 31, 2019 2,971,752.50
Total Liabilities & Owner's Equity 4,075,000.00
50pts
772,990.00 400,000.00 30,000.00
400,000.00 372,990.00 93,247.50
372,990.00 Tax Due 123,247.50
93,247.50
445,000.00
400,000.00 30,000.00
45,000.00 11,250.00
41,250.00
1,500,000.00
5pts 800,000.00 130,000.00
700,000.00 210,000.00
340,000.00
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Vannilla Food Processing Co.
Statement of Cost of Goods Manufactured & Sold
For the year ended - December 31, 2019
Raw Materials – Jan. 1, 2019 185,000.00
Add: Net Cost of Purchases
Purchases – Raw Materials 295,000.00
Total Raw Materials Available for Use 480,000.00
Less: Raw Materials Inventory - December 31, 2019 90,000.00
Total Cost of Raw Materials Used 390,000.00
Add:
Direct Labor 350,000.00
Overhead - Indirect Labor 285,000.00 635,000.00
Total Manufacturing Costs 1,025,000.00
Add: Work - in Process Inventory - January 1, 2019 75,000.00
Total Cost Placed in Process 1,100,000.00
Less: Work - In Process Inventory - December 31, 2019 286,000.00
Total Cost of Goods Manufactured 814,000.00
Add: Finished Goods Inventory - January 1, 2019 150,000.00
Total Goods Available for Sale 964,000.00
Less: Finished Goods Inventory - December 31, 2019 350,000.00
Cost of Goods Manufactured & Sold 614,000.00
Vannilla Food Processing Co.
Statement of Financial Performance
For the year ended - December 31, 2019
Sales 1,350,000.00
Less: Cost of Goods Manufactured & Sold 614,000.00
Gross Profit from Sales 736,000.00
Less: Operating Expenses
Taxes and Licences 84,000.00
Repairs and Maintenance 120,000.00
Light and Water 160,000.00
Office Supplies Expense 240,000.00 604,000.00
Operating Income 132,000.00
Operating Income - EBITDA -
Net Income 132,000.00
Vannilla Food Processing Co.
Statement of Statement of Detoya Owner's Equity
For the year ended - December 31, 2019
E. Detoya Capital - January 1, 2019 1,692,000.00
Add: Net Income 132,000.00
E. Detoya Capital - December 31, 2019 1,824,000.00
Vannilla Food Processing Co.
Statement of Statement of Financial Position
As of - December 31, 2019
Assets
Current Assets
Cash in Bank 375,000.00
Petty Cash Fund 10,000.00
Accounts Receivable 65,000.00
Raw Materials ###
Goods in Process ###
Finished Goods ###
Total Current Assets 1,176,000.00
Non-Current Assets
Machinery and Equipment 380,000
Less: Accumulated Depreciation – Machinery & Equip 76,000 304,000
Office Equipment 120,000
Less: Accumulated Depreciation – Office Equipment 24,000 96,000.00
Franchise 315,000
Total Non-Current Assets 715,000.00
Total Assets 1,891,000.00
Liabilities & Owner's Equity
Current Liabilities
Accounts Payable 67,000.00
Owner's Equity
E. Detoya Capital - December 31, 2019 1,824,000.00
Total Liabilities & Owner's Equity 1,891,000.00
445000
400000 30000
45000 11250
41250
1500000
800000 130000
700000 210000
340000