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Financial Statement Overview

The document presents financial statements including an income statement, statement of changes in equity, and a balance sheet. It details revenues, expenses, assets, liabilities, and equity, showing a net income and ending capital. The total assets and total liabilities and equity are both reported as 169,450.

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202411008
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5 views2 pages

Financial Statement Overview

The document presents financial statements including an income statement, statement of changes in equity, and a balance sheet. It details revenues, expenses, assets, liabilities, and equity, showing a net income and ending capital. The total assets and total liabilities and equity are both reported as 169,450.

Uploaded by

202411008
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

1.

) Cash 100,000 Income Statement


J., Capital 100,000 Revenues
2.) Office Equipment 15,000 Service Revenue
Cash 15,000
3.) Service Vehicle 20,000 Expenses
Cash 5,000 Rent Exp.
A/P 15,000 Adv. Exp.
4.) Cash 2,000 Utilities Exp.
Revenue 2,000 Salaries Exp.
5.) Accounts Receivable 3,000
Revenue 3,000 Net Income
6.) Utilities Expense 500
Cash 500 Statement of Changes in Equity
7.) Salaries Expense 1,500 Beginning Capital
Cash 1,500 Add: Net Income
8.) Accounts Payable 5,000
Cash 5,000
9.) Cash 1,000 Less: J., Drawings
A/R 1,000 Dividends Payable
10.) J., Drawings 1,000 Ending Capital
Cash 1,000
11.) Supplies 500
A/P 500
12.) Rent Expense 2,000
Cash 2,000
13.) Cash 10,000
N/P 10,000
14.) Cash 1,000
Unearned Rev. 1,000
15.) Advertising Exp. 300
Cash 300
16.) Land 50,000
Notes Payable 50,000
17.) Accounts Payable 500
Cash 500
18.) Supplies 750
A/P 750
19.) Cash 18,000
Vehicle 18,000
20.) Dividends Payable 2,000
Cash 2,000
Statement of Financial Position (Balance Sheet)
Cash 99,200
5,000 A/R 2,000
Office Equipment 15,000
Service Vehicle 2,000
-2,000 Supplies 1,250
-300 Land 50,000
-500 Total Assets 169,450
-1,500
N/P 60,000
700 A/P 10,750
Unearned Revenue 1,000
t of Changes in Equity
100,000 J., Capital 97,700
700 Total Liabilities and Equity 169,450
100,700

-1,000
-2,000
97,700

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