Business Accounting

February 2017

EXERCISES ON BALANCE SHEET

1. Identify the class to which the following accounts belong (Asset, Liability,
Heritage.

Salaries payable. Computer equipment.

Inventory of finished products Box
Suppliers Bank loans
Furniture and furnishings Building
Taxes payable Financial Obligations
Banks. Machinery
Accumulated Depreciation Building Social benefits payable
Clients Utilities
Capital Vehicle.

2. Prepare the Balance Sheet of the company LA CAMISA LTDA, with the following information to
December 31, 2.0XX.

Social benefits payable $115,000 Vehicle $ 11.000.000

Inventory of products in process $ 635,000 Banks $ 1.308.100
Accounts payable to suppliers $ 48.900 Bank obligations $ 23,500,000
Long-term bank loans $ 635.000 Furniture and utensils $300,000
Accounts receivable from employees $50,000 Taxes payable $ 130.000
Finished goods inventory $ 2,750,000 Accounts receivable $ 13.200
Accounts payable to partners $ 5.991.100 Land $ 5.000.000
Building $15,000,000 Salaries payable $ 230.000
Utilities $ 1.500.000 Capital $5,000,000
Raw material inventory $350,000 Machinery and equipment $ 800,000
Received advances $60,000 Box $ 3.700

3. With the following balances, prepare a Balance Sheet as of February 28, 2.0XX.
Building $10,000 Accumulated depreciation $2,000
Land $3,000 Cash $ 2,000
Bank loans $ 12,000 Capital $9.750
Accounts Receivable $ 6.000 Suppliers $ 2.250
Inventories $ 5.000

4. Build a Balance Sheet as of December 31, 2.0XX.

Inventories $ 1.500 Legal reserve $ 575
Capital $ 3.800 Cash and banks $ 1,200
Accumulated Depreciation $2,000 Bank obligations $2,000
Suppliers $3.125 Machinery and equipment $ 7,000
Accounts receivable $ 1.800

By: Eng. Armando Estrada Sánchez page No. 1 of 18

 Business Accounting
February 2017

5. Prepare a Balance Sheet as of May 31, 2.0XX.

Accumulated depreciation vehicle $ 60 Accounts Receivable $ 1.470
Machinery and equipment $4.140 Building $2.070
Short-term debts $ 360 Taxes payable $ 90
Land $ 360 Inventories $2,400
You have suppliers $ 630 Depreciation. now. Machinery and Equipment.1.350

Temporary investments $ 60 Cash and Banks $ 330

Retained earnings $ 2.370 Vehicle $ 270
Deprecated now. Building $ 60 Capital $ 1,200
Long-term debts $ 4.710 Social benefits to pay $270

6. Prepare the Balance Sheet with the following information.

Accumulated Depreciation $ 160 Machinery and Equipment $1.060
Documents payable $ 240 Utilities of the Year $ 62
Banking Obligations L.P. $ 220 Social Benefits $ 150
Invent. Product Process $120 Retained Earnings $628
Furniture and Furnishings $ 30 Taxes Payable $ 15
Cash $ 370 Short-term Bank Obligations. $ 160
Computer Equipment $ 75 Deferred Assets $200
Accounts Receivable $ 380 Severance payments payable $ 140
Invent. Finished Product $ 160 Invent. Raw Material $250
Capital $ 800 Raw Material Suppliers $ 370
Temporary investments $ 510 Tool $ 25
Legal Reserve $ 230 Interest payable $ 5

7. With the following information, prepare a Balance Sheet as of September 30 of the year.
past of the Company EL CINEMATÓGRAFO S.A.

COMPUTER EQUIPMENT $4,000,000 BUILDING $ 160.000.000

Taxes Payable $ 21.000.000 BOX $5,000,000
Accounts Receivable Employees $2,500,000 NATIONAL BANKS $ 68.400.000
BANKS 11,300,000 FURNITURE AND UTENSILS $15,000,000
SUBSCRIBED AND PAID CAPITAL $ 76.000.000 SUPPLIERS $29,810,000
PROJECTION EQUIPMENT $30,000,000 ACCOUNTS PAYABLE $ 6.590.000
USEFULNESS OF EXERCISE $ 26.000.000

8. Based on the following data, prepare the balance sheet for MOTOS PEPE PINTO.
February of this year.

Accounts receivable from customers 3,150,000 Prepaid interests 230,000

Accounts payable to suppliers 5,700,000 Vehicle 6,300,000
Motorcycle inventories 8,300,000 Salaries payable 360,000
Furniture and belongings 3,800,000 Capital contributions 10,000,000
Bank obligations 7,000,000 Utilities 6,670,000
Box 2,650,000 Deferred initiation expenses 300,000

By: Eng. Armando Estrada Sánchez page No. 2 of 18

 Business Accounting
February 2017

9. The following accounts with their balances balance the company's balance sheet.
MANDRAKE COMMERCIAL. Prepare the Balance Sheet as of September of last year.

Social capital 800 Merchandise 700

Cash 380 Salaries payable 18
Accounts payable 630 Fixed assets 800
Investments 400 Accounts receivable 300
Utilities 232 Documents payable 900

10. Prepare the balance sheet for ALMACÉN CAÑAVERAL as of March of this year. It is required.
balance the accounting equation by adding the profit or loss of the period

Commercial Accounts Receivable 2.348 Furniture and Fixtures 1,500

Accounts Payable Suppliers 1.300 Pickup truck 6.000
Cash 3.980 Deferred Expenses 400
Inventory of Goods 7.560 Advances in Sales 800
Banking Obligations 5,000 Document to be Paid 3,000
Interest Paid in Advance 150 Social Capital 6.000
Services Payable 180 Utilities to be Distributed 3.500

11. Prepare the balance sheet and by balancing the accounting equation, determine the
profit or loss of the company COMERCIAL APOLO as of December of the previous year.

Cash 1.800.000 Accumulated vehicle depreciation 600,000

Accounts payable 6,000,000 Furniture 4.000.000
Banking obligations 2,500,000 Accumulated depreciation of furniture 1,800,000
Interest paid in advance 200,000 Accounts receivable 8.000.000
Merchandise 4,000,000 Salaries payable 200,000
Vehicle 5,000,000 Social capital 5,000,000

12. At the end of August, the Commercial Company PANDORA presents the following accounts
with their balances.

Accounts Receivable 38.000 Vehicle 10,000

Systems Equipment 8,000 Bank Obligations 37,000
Cash 18,000 Furniture and Fixtures 31,000
Accounts Payable to suppliers 52,000 Taxes payable 1.800
Various Debtors (Accounts Receivable) 450 Salaries payable 800
Interest paid in advance 2.000 Social Capital 30,000
Merchandise 56,000
It is required to place these accounts in the balance sheet and determine the break-even profit.
the accounting equation at the end of August last year.

By: Engineer Armando Estrada Sánchez page No. 3 of 18

 Corporate Accounting
February 2017

13. Based on the following financial information, construct the Balance Sheet of the
Company LA COSTOSA LTDA, as of January 31 of this year.

Capital $ 1.113 Accounts Receivable $ 1.173

Taxes payable $ 184 Period utilities $ 61
Long-term bank loan $ 200 Accumulated depreciation $ 135
Suppliers $ 519 Long-term debts payable $ 300
Banks $ 88 Inventory $ 397
Short-term loan $ 61 Machinery and Equipment $ 915

14. With the following Trial Balance of the company 'CALZADO BUENA PATA S.A.'
prepare the Balance Sheet as of December 31 of the previous year.
GOOD PAW FOOTWEAR S.A.
DESCRIPTION DEBT CREDIT
Accumulated Income Receivable 2,400,000
USES OF EXERCISE 3.140.000
SUPPLIERS 2.700.000
Accrued Interests Payable 480,000
BOX 8.890.500
Accrued Rent Payable 750,000
ACCRUED SALARIES PAYABLE 78.500
COMPUTING EQUIPMENT 4,850,000
CLIENTS 3.283.000
FOOTWEAR FOR SALE 5,200,000
LOSSES FROM PREVIOUS EXERCISES 4,100,000
ACTIONS 20.000.000
INVESTMENTS 840,000
BANK OBLIGATIONS 2,535,000
Accrued Interest Receivable 120,000
EQUAL SUMS 29,683,500 29,683,500

15. According to the following information, prepare a Balance Sheet for the company
"OLYMPIC DISTRIBUTOR S.A." as of December 31 of last year.
Computer Equipment 980,000 Inventories of Goods 835,000
Suppliers 620,000 Accounts Payable 410.060
Permanent investments 100,000 Investments 40,000
Obligaciones bancarias C.P. 215,000 Banking Obligations L.P. 678.496
Box 53.000 Land 2,325,000
Other current liabilities 10.540 Capital 1.322.944
Mortgage obligation 1.626.960 Machinery 1,120,000
Clients 312,000 Tax to be Paid 44.400
Utility of the Period 103.600 Accumulated Depreciation 783,000
Bank 50,000

By: Eng. Armando Estrada Sánchez page No. 4 of 18

 Corporate Accounting
February 2017

EXERCISES OF THE INCOME STATEMENT AND BALANCE SHEET

Prepare an income statement with the following data from January 1 to December 31 of the year
previous.
Taxes $ 600 Cost of sales $ 24,000
Sales $36,000 Interests $ 3.600
Operating expenses $ 6,400

17. Prepare an income statement from January 1 to July 31 of the previous year.
Interests $ 1.140 Sales Expenses $ 275
Cost of Sales $ 5.685 Net sales $ 9.475
Taxes $ 500 Administration Expenses $ 950

18. Prepare an income statement with the following information from July 1 to December 31 of the year.
past.
Interests $ 1.789 Taxes $ 424
Final Inventories $1,500 Initial Inventory $1,000
Administration and Sales Expenses. $ 3,000 Sales $18.000
Net purchases $12.500

19. Based on the following information, calculate the profit or loss of the Company.
Social benefits expenses $25,000 Sales $100,000
Advertising $ 10.000 Interest received $5,000
Salaries $80,000 Depreciation $30,000
Commissions $20,000 Public services $40,000

20. Prepare the income statement as of December of last year, with the following information:
Leases 2,500 Initial Inventory 3,000
Gross Sales 36.000 Propaganda 1.550
Purchases 2.550 Sales discount 5%
Mail 700 Taxes 2.000
Sales Salaries 1.800 Freights 200
Interest paid 400 Final inventory 1.400
Public services 1,400 Interest received 1.300
Salaries administration 12,700
Calculate the social benefits of the administration salaries and sales salaries with a
estimate of fifty percent (50 %) on the respective salaries.

21. With the following information, calculate the profit or loss of the COMMERCIAL COMPANY.
LTDA, as of December 31 of the previous year.
Gross Sales $23,500 Interest received $ 500
Purchases 15,000 Paid interests 800
Sales Expenses 2.500 Final inventory 2.500
Administrative Expenses 1.000 Taxes are 35% per year
Discount on sales 7%
Initial inventory 2,000

By: Eng. Armando Estrada Sánchez page No. 5 of 17

 Business Accounting
February 2017

22. Use the necessary accounts to prepare an Income Statement.

Administrative Expenses 180 Financial expenses (interest) 23

Social benefits 287 Sales Expenses 55
Collection from Credit Sales 422 Loan payments 100
Partner contributions 800 Income from sales in cash 2.110
Direct labor wages 348 Payment for raw materials 850
Investment in capital goods 1.250 Indirect labor wages 225
Bank Financing 450 Other indirect costs 95

23. For TRILLADORA MUNDIAL LTDA, the following transactions for the month are as follows:
April of the year 2.0XX, the date when operations began.
April 9 Paid $150,000 in cash for rent.
April 10 Received $60,000 in cash for coffee sale
April 12 Paid $50,000 in cash for advertising expenses
April 13 He paid $75,000 in cash for freight.
April 14 Received $200,000 in cash for coffee sales
April 15 Paid $100,000 in cash for salesmen's salaries.
April 20 Received $300,000 in cash for coffee sales.
April 22 Received $100,000 in cash for coffee sales.
April 30 Paid in cash $25,000 for telephone services.
April 30 Paid $200,000 in cash for administrative salaries.
April 30 The taxes are calculated at 35%.
Prepare the income statement for the month of April.

24. Prepare the Balance Sheet and Income Statement with the following data.

Teams 307.700 Taxes 4.186.189

Raw Material Inventory 14.755.656 Finished Goods Inventory 6.208.005
Contributions by members 49.906.649 Accumulated Depreciation 11.805.880
Cost of Sales 224.240.652 Sales Expenses 30.881.892
Clients 45.301.142 Sales 339,758,564
Software - computer program 2,500,000 Box 4.946.785
Furniture and household goods 1,030,000 Product process inventory 9,359,037
Raw material suppliers 15.985.294 Interest paid 11.820.000
Administrative Expenses 46,237,040 Machinery and equipment 102.221.100
Computer equipment 1,850,000 Long-Term Bank Obligations 84,202,622

By: Engineer Armando Estrada Sánchez Page No. 6 of 17

 Business Accounting
February 2017

25. Design the Balance Sheet as of December of the previous year, and the Income Statement of
November 1 to December 31 of the previous year of CALZADO PIE GRANDE S.A.S.
ACCRUED INCOME TO BE COLLECTED2,000,000 CLIENTS 3,000,000
PUBLIC SERVICES EXPENSE 400,000 Footwear for sale 5,000,000
INCOME FROM SERVICES 14,000,000 REPRESENTATION EXPENSE 1,000,000
Accrued interest payable 480,000 ACTIONS 20,000,000
BOX 9,900,000 INVESTMENTS 1,000,000
SAFE EXPENSE 200,000 BANKING OBLIGATIONS 2,500,000
SALARIOS ACUMULADOS POR PAGAR 500,000 Accrued interest receivable 120,000
COMPUTER EQUIPMENT 5,000,000 SUPPLIERS 3,000,000
PAYROLL EXPENSE 8,000,000 INTEREST EXPENSE 300,000
LOSSES FROM PREVIOUS EXERCISES 4,100,000 ACCRUED RENT PAYABLE 500,000
RENT EXPENSE 1,000,000 USES OF EXERCISE 3.140.000
INTEREST INCOME 40,000

26. According to the following trial balance, prepare the Income Statement and the
Balance Sheet of SECURITY LA BALA S.A.S.
SECURITY THE BULLET S.A.S.
Trial Balance
OCTUBRE 30 DE 2015
(figures in pesos)
Debt Credit
Computing equipment $ 5.000.000,00
Suppliers $ 3.400.000,00
Safe Spending $ 200.000,00
Accumulated Depreciation $984,200.00
Public Services Expense $ 400.000,00
Investments $5,800,000.00
Salaries Payable $ 500.000,00
Box $ 14.800.000,00
Accrued Interest Payable $996,000.00
Loss of previous exercises $ 4.076.200,00
Ingresos por intereses $ 148.000,00
Communications Team $ 8.000.000,00
Banking Obligations $ 7.500.000,00
Clients $ 3.700.000,00
Salary Expense $ 8.000.000,00
Actions $ 22.000.000,00
Rental Expenses $1,600,000.00
Utility of the Previous Exercise $ 3.648.000,00
Other Administrative Expenses $ 400.000,00
Revenue from Services $ 15.000.000,00
Furniture and Furnishings $1,300,000.00
Interest Expense $ 900.000,00
TOTAL EQUAL SUMS $ 54.176.200,00 $ 54.176.200,00

By: Eng. Armando Estrada Sánchez page No. 7 of 17

 Business Accounting
February 2017

27. Given the following trial balance, prepare the Income Statement and the
Balance Sheet of INGENIERIA S.A.
ENGINEERING S.A.
Trial Balance
Noviembre 30 de 2015
Debt Credit
Vehicle 45,000,000
Accumulated depreciation 2.064.583
Box 7.809.700
Banking Obligations 56.770.000
Clients 1,000,000
Subscribed and paid-up capital 60,000,000
Computer Equipment 3,600,000
Utility of Previous Exercises 11,500,000
Commercial Premises 35,000,000
Income from services 49,100,000
Wage Expenses 8,000,000
Rent Expense 1.833.333
Accounts Payable 31,500,000
Safe Expenditure 233.333
Surveillance to be Paid 600,000
Advertising Expense 5.000.000
Public Services Expense 450,000
Revenue Received in Advance 26,000,000
Surveillance Expense 600,000
Interest Expense 1,245,300
Furniture and belongings 5,400,000
Depreciation Expense 1.429.583
Salaries Payable 1,000,000
Dividends paid 2,500,000
Accounts receivable 9,100,000
Land 60,000,000
Prepaid Rental 2.166.667
Prepaid Insurance 2,166,667
Machinery 46.000.000
TOTAL EQUAL SUMS 238.534.583 238.534.583

By: Ing. Armando Estrada Sánchez page No. 8 of 17

 Corporate Accounting
February 2017

28. Given the following final balances as of April 30 of the current year; prepare the Balance Sheet
prueba a Abril 30, Estado de resultados de Abril 1 a Abril 30, y Balance General a Abril
30. Calculate a provision (reserve) for taxes of 35.6% for the month of April
(actual period).
Actions 61,500,000 Insurance Expense 300,000
Rent to be paid 7,250,000 Public Services Expense 520,000
Bank 14,480,000 Taxes payable from the previous year 17.120.000
Clients 10,000,000 Income from Services 11,000,000
Employee Accounts Receivable 500,000 Income received in advance 20,000,000
Accounts Receivable from Partners 6,000,000 Furniture and Fixtures 2,100,000
Accounts payable 4,300,000 Bank Obligations 17,500,000
Accumulated Depreciation 4,455,000 Suppliers 5,400,000
Building 60,000,000 Pre-paid insurance 1,800,000
Computer Equipment 2,700,000 Land 30,000,000
Rent Expense 1,450,000 Prior Year Earnings 10,067,500
Depreciation Expense 742,500 Vehicle 24,000,000
Salary Expenses 4,000,000

29. According to the following final balances as of July 31 of the current year; prepare the Balance of
trial for July 31, Income statement from July 1 to July 31, and Balance Sheet as of July 31.
Calculate a provision (reserve) for taxes of 35.6% for the month of July (current)
period.
Actions 20.000.000 Surveillance Expense 600,000
Accounts Payable 4,400,000 Inventory Bed 1.800.000
Gasto Depreciación 120,000 Cost of Televisions 5,000,000
Accumulated Depreciation 420,000 Stove Inventory 1,050,000
Computer Equipment 7.200.000 Cost of Bed 3.000.000
Clientes 2,177,500 Refrigerator Inventory 3,125,000
Lease Expense 500,000 Sale of Stoves 2,730,000
Box 18,740,000 Television Inventory 5,000,000
Maintenance Expense 1,000,000 Accumulated Payroll By
Cost of Stoves 2,100,000 To pay 6,000,000
Sale of Beds 3.900.000 Suppliers 7.575.000
Payroll Expense 6,000,000 Accumulated Advertising By
Advertising Expense 3,000,000 Pay 1.500.000
Television Sale 6.850.000 Utility Previous Exercises 6,000,000
Public Services Expense 200,000 Refrigerator Sale 5,612,500
Cost of Refrigerator 4,375,000

30. Based on the following information, prepare the income statement of the company CIEN.
LTDA, from January 1 to June 30 of the previous year.
Sales Expenses $ 7.973 Financial expenses $ 150
Other income $ 845 Administrative Expenses $ 8.450
Sales $ 23.000 Cost of Sales $ 5.350
Taxes $ 235

By: Eng. Armando Estrada Sánchez page No. 9 of 17

 Business Accounting
February 2017

31. Obtained the following ending balances as of January 31 of the current year; prepare the Balance of
trial as of January 31, Income statement from January 1 to January 31, and Balance Sheet as of
January 31. Calculate a provision (reserve) for taxes of 35.6% for the month of
January (current period).

Paid Surveillance by Dividends paid $2,000,000

Anticipated $1,352,600 Accumulated Maintenance by
Vehicle $24,000,000 Pay $3,000,000
Utility of Exercises Commercial Premises $12,000,000
Previous $4,900,000 Investments $1,000,000
Insurance Paid in Advance $2,113,333 Accrued Interests Payable $ 1.787.500
Public Services Expense $ 600,000 Accumulated Income by
Rental Services $ 20,222,222 Charge $12,000,000
Surveillance Expense $ 867.400 Accumulated Depreciation $ 2.861.667
Rent Received in Advance $33,777,778 Accounts Payable $1,800,000
Payroll Expense 20,000,000 dollars Medical Equipment $82,000,000
Interest Rent $ 40,000 Administration Expense $ 900,000
Providers $ 3.000.000 Computer Equipment $ 5.400.000
Loss of the previous year $ 960,000 Box $ 11,230,000
Interest Expense $5,477,500 Maintenance Expense $3,000,000
Bank Obligations $71,500,000 Depreciation Expense $ 2.201.667
Payroll to be Paid $ 2.500.000 Clients $2,000,000
Furniture and Fixtures $6,000,000 Actions $50,000,000
Safe Spending $ 286.667

32. According to the following balances, prepare the Trial Balance, Income Statement and
Balance Sheet (calculate the totals of your main accounts).

Actions 20,000,000 Safe Spending 100,000

Rent paid by Accumulated Depreciation 472.222
anticipated 1,000,000 Public Services Expense 1,200,000
Box 945,000 Income Received x Advance. 19.333.333
Interest Expense 255,000 Financial Obligations 7,900,000
C x Charging employees 700.000 Service Income 20,666,667
Lease Expense 1,000,000 Dental Provisions. Page x
Dividends paid 1.500.000 Anticipated 240,000
Stationery paid in advance. 833.333 Paid advertising by advance 333.333
Medical Equipment 18,000,000 Insurance Paid by
Depreciation Expense 472.222 anticipated 1,100,000
Payroll Expense 12,000,000 Land 6,000,000
Investments 2,000,000 Utility of Exercises
Furniture and furnishings 2,000,000 Previous 11,500,000
Stationery Expense 166.667 Banks 25,000,000
Computer equipment 3,100,000
Provision Expenses 760,000
Accounts Payable 500,000
Gasto Publicidad 1,666,667

By: Eng. Armando Estrada Sánchez page No. 10 of 17

 Business Accounting
February 2017

33. Based on the following information, prepare the Trial Balance, Statement of
Results and Balance Sheet (calculate the totals of your main accounts).

PC Sales $17,000,000 PC Purchases $9,000,000

Suppliers $9,000,000 Printer Purchases $5,000,000
Printer Sales $ 6.500.000 Banks $ 12.000.000
Surveillance Expense $ 300.000 Utility Previous Exercise $4,000,000
Public Services Expense $200,000 Accounts Receivable $ 9.750.000
Furniture and Fixtures $2,000,000 Actions $ 18.000.000
Payroll Expense $3,000,000 Printer Inventory $4,000,000
Accounts Payable $ 2,000,000 Accumulated Depreciation $ 516.667
Depreciation Expense $ 216.667 Computer Inventory $ 3.500.000
Box $ 550.000 Computer Equipment $ 7.200.000
Lease Expense $ 300.000

34. WAREHOUSE CARES FOR IT

The following are the account balances of La Acaricia Warehouse:

Figures in thousands of pesos
Box 1.900 Interest paid in advance 70
Accounts receivable 1.650 Leases payable 200
Goods 2.450 Capital contributions 4,000
Furniture and Furnishings 2.500 Vehicles 1.800
Accounts payable to suppliers 950 Documents payable 1.300
Banking Obligations 2.800 Shares of another company (investments) 800

Record the accounts in the balance sheet and determine the profit or loss by equilibrium of the
accounting equation.

35. MERCURY WAREHOUSE

The Mercurio Warehouse has the following accounts in its accounting at a given moment:
which balance their balance sheet:
Cash 200,000 Interest paid in advance 60,000
Accounts receivable 1,500,000 Goods 2,800,000
Accounts payable 900,000 Salaries payable 100,000
Furniture and furnishings 3,000,000 Capital 4,000,000
Bank obligations 2,000,000 Utilities 560,000
Conteste Falso (F) o Verdadero (V) a las siguientes afirmaciones:

1. ___ In the initial situation, the asset totals $7,760,000.

In the initial situation, the liabilities total $3,000,000.

By: Eng. Armando Estrada Sánchez page No. 11 of 17

 Business Accounting
February 2017

CASH FLOW EXERCISES

BALANCE SHEET, INCOME STATEMENT

36. Calculate the Cash Flow, with the following information, for CAPITAL S.A. company.
June 30, 2001

Sold for cash 20.500 Purchased raw material 15.500

Administrative Expenses 300 Taxes were paid for 120
Initial cash balance 250 Investment in Assets 6.750
They were granted a loan. 3.000 Paid suppliers 8.250
Direct Labor Wages 800 Indirect costs 700
Sales Expenses 200 Interest Paid 50
Sold on credit 8,500 The customers paid 2.700

37. Prepare the cash flow and the income statement with the following information:

Administrative Expenses 180 Financial expenses (interest) 23

Social benefits 287 Selling expenses 55
Credit sales collection 422 Loan repayment 100
Partner contributions 800 Cash sales income 2,110
Direct labor wages 348 Payment for raw materials 850
Investment in capital goods 1.250 Indirect labor wage 225
Bank financing 450 Other indirect costs 98

By: Eng. Armando Estrada Sánchez page No. 12 of 17

 Corporate Accounting
February 2017

COST FORMAT OF MERCHANDISE SOLD FOR COMMERCIAL COMPANIES (There is no

transformation of raw material

COSTO DE LA MERCANCIA VENDIDA :

Date: ________________
Initial Inventory
More: purchases
Less: final inventories
Cost of goods sold, or Cost of Sales

COST FORMAT OF GOODS SOLD FOR INDUSTRIAL COMPANIES (There is the

process of transforming raw material

COST OF GOODS SOLD:

Date: _______________
Initial Inventory of Raw Materials
But: purchases of raw materials
Less: final inventory of raw materials.
Cost of raw materials consumed
But: direct labor
Manufacturing indirect costs
Manufacturing cost
But: initial inventory of products in process
Cost of production in process
Less: final inventory of work in progress
Cost of finished production
More: Initial inventory of finished products
Cost of production available for sale
Less: final inventories of finished products
Cost of goods sold, Cost of Sales

By: Eng. Armando Estrada Sánchez page No. 13 of 17

 Corporate Accounting
February 2017

FORMAT OF THE INCOME STATEMENT:

Company : _____________
STATEMENT OF RESULTS
Date: From ____________ to ___________________

Ventas Brutas
Less: returns and discounts on sales
Net Sales
Less: Cost of Goods Sold

Gross Profit
Lower Operating Expenses:
Administrative Expenses
Administration Salaries
Social benefits Admin.
Public services
Leases
Stationery

Less: Sales Expenses

Salaries of salespeople
Commission of sellers
Social benefits Vtas
Mail
Propaganda
Freights

Operating Utility
But: Other Income
Less: Other expenses
Personal expenses Owner
Earnings before interest and taxes
Less: Interest paid
Utility Before Taxes
Less: Provision for Taxes
Net Income for the period

By: Eng. Armando Estrada Sánchez page No. 14 of 17

 Corporate Accounting
February 2017

FORMAT OF THE BALANCE SHEET:

COMPANY: ________________
BALANCE SHEET
Date: ________________

ACTIVE PASSIVE

Current Asset Short-term Liabilities

Box $________ Financial obligations $_________

Banks ________ Suppliers _________
Accounts payable _________
Accounts receivable a: Documents payable _________
Clients $________ Withholding tax _________
Employees ________ Impuesto _________
Payroll contributions _________
Inventories Salaries payable _________
Raw Material $________ Benefits payable _________
Product in process ________ Received advances _________
Finished product ________
Long-term liabilities
Fixed Asset
Bank loans $ _________
Land $ ________
Building ________ TOTAL LIABILITIES $ _________
Machinery and equipment ________
Furniture and belongings ________ HERITAGE
Computer equipment ________
Vehicle ________ Capital $ _________
Reservation _________
Less:
Accumulated depreciation _________ Utilities _________
Appraisals _________
Other Assets TOTAL ASSETS _________
Deferred ________
TOTAL LIABILITIES AND
TOTAL ASSETS ________ HERITAGE _________

By: Eng. Armando Estrada Sánchez page No. 15 of 17

 Corporate Accounting
February 2017

Company: __________
BALANCE GENERAL
Date: __________
ASSETS
Current Assets
Box
Accounts Receivable
Clients
Temporary investments
Raw Material Inventory
Product Process Inventory
Finished Product Inventory
Total Activos Corrientes
Fixed Assets
Land
Building - Constructions
Furniture and Fixtures
Machinery and Equipment
Vehicle
Computer Equipment
Accumulated Depreciation
Total Fixed Assets
Other Assets
Deferred Assets
TOTAL ASSETS
LIABILITIES
Current Liabilities (Short Term)
Raw Material Suppliers
Short-term Bank Obligations
Documents payable
Accounts Payable
Social Benefits Payable
Interest payable
Taxes Payable
Total Current Liabilities
Long Term Liabilities
Banking Obligations L.P.
Total Long-Term Liabilities
TOTAL PASIVOS
HERITAGE
Capital
Legal Reserve
Retained Earnings (previous years)
Utilities of the Year
TOTAL ASSETS
TOTAL LIABILITIES AND EQUITY

By: Eng. Armando Estrada Sánchez page No. 16 of 17

 Business Accounting
February 2017

CASH FLOW FORMAT:

Only the movement that occurred during the period is recorded here.

Company: ______________
CASH FLOW :
Fecha : Desde __________hasta ______

But: INCOME
Cash sales
Sales on credit
Debt collection (Accounts Receivable)
Partner Contributions
Loans and credits
TOTAL INGRESOS

Less: EXPENSES
Purchase of raw material
Payment to suppliers
Direct Labor
Costos Indirectos
Operating Expenses (Admin and Sales)
Administration Expenses
Sales Expenses
Investment (Purchase of Assets)

Taxes
Interests
Interests to Banks
Interests to Partners
Amortization (Loan payments)
Personal Expenses
TOTAL EGRESOS

NET CASH FLOW FOR THE PERIOD

But: Initial cash balance (Cash)

AVAILABLE CASH ( Final Cash Register )

By: Eng. Armando Estrada Sánchez page No. 17 of 17