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May 2010 Financial Summary Worksheet

The document is a financial statement for Joseph Consulting for the month ended May 31, 2010, detailing assets, liabilities, and owner's equity. It includes transactions such as fees earned, payments for expenses, and adjustments, culminating in a summary of the financial position. The total assets and liabilities are balanced at 68,385.

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Andrei Leosala Margarata
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19 views11 pages

May 2010 Financial Summary Worksheet

The document is a financial statement for Joseph Consulting for the month ended May 31, 2010, detailing assets, liabilities, and owner's equity. It includes transactions such as fees earned, payments for expenses, and adjustments, culminating in a summary of the financial position. The total assets and liabilities are balanced at 68,385.

Uploaded by

Andrei Leosala Margarata
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Jos

End-of-Period
For the Mon
ASSETS
Date Explanation Checking Cash AR Supp Prerent Preins.
5/1/2010 Initial Capital - 22,100 3,400 1,350 3,200 1,500
5/3/2010 Received unearned fees - 2,500
5/5/2010 Fees earned on account - 1,750 (1,750)
5/9/2010 Payment for ads - (300)
5/13/2010 Debt payment - (400)
5/15/2010 Fees earned on account - 6,100
5/16/2010 payment for employees - (750)
5/17/2010 Fees earned from cash client - 8,200
5/20/2010 Purchased supplies on credit - 400
5/21/2010 Fees earned on account - 3,900
5/25/2010 Fees earned from cash client - 5,100
5/27/2010 Received cash on account - 9,500 (9,500)
5/28/2010 payment for employees - (750)
5/30/2010 Telephone bill - (120)
5/31/2010 Electricitybill - (290)
5/31/2010 Fees earned from cash client - 3,875
5/31/2010 Fees earned on account - 3,200
5/31/2010 Owner's Drawings - (8,000)
42,415 5,350 1,750 3,200 1,500

ADJUSTMENTS
5/31/2010 -
5/31/2010
5/31/2010
5/31/2010
5/31/2010
Joseph Consulting
End-of-Period Spreadsheet (Worksheet)
For the Month Ended May 31,2010
ASSETS LIABILITIES OWNER'S EQ
Off. Eq. Accumulated deppreciation Acc. Pay. Sal. Pay. Un. Fees Capital Drawing
14,500 (330) 800 120 2,500 42,300
2,500

(400)

(120)

400

(8,000)
14,500 (330) 800 - 5,000 42,300 (8,000)
68,385 68,385
OWNER'S EQUITY
Fees Earned Miscellaneous Exp. SalaryExp.

(300)

6,100
(630)
8,200

3,900
5,100

(750)
(120)
(290)
3,875
3,200

30,375 (710) (1,380)


Date Description Checking
0
22,100
3,400
1,350
3,200
1,500
14,500
Cash AR Supp
23,000
-2,700
3,800
1,800
4,000
-3,600
-810
300,000
-1,300
180 -180
-1,300
-1,100
315,990 4,180 1,620

Unadjusted Trial balance


Cash 315,990
Accounts recievable 4,180
Supplies 1,620
Prepaid Insurance 3,600
Office Equipment 4,900
Accumulated Deppreciation
Accounts Payable 500
Lons Payable 300,000
Unearned fees
Jose Redoblado, Capital 25,200
Jose Redoblado, Drawing 1,100
Income summary
Fees Earned 7,800
Salary Expense 1,300
Rent Expense
Supplies Expense
Deppreciation Expense
insurance Expense
Miscellaneous expense 810
333,500 333,500
330
800
120
2,500
42,300
Prerent Preins. Off. Eq.
2,200

3,600

3,600 4,900
330,290 330,290
Adjustments
Acc. Pay. Sal. Pay. loans pay.

1,800

300,000

-1,300

500 300,000
Un. Fees Capital Drawing
25,200

-1,100
25,200 -1,100
Fees Earned Miscellaneous Exp. SalaryExp.

3,800

4,000

-810

-1,300

7,800 -810 -1,300

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