Fabm 1 PT Answer 2 (1) Degumbis
Fabm 1 PT Answer 2 (1) Degumbis
Fabm 1 PT Answer 2 (1) Degumbis
Account Titles:
Cash on Hand
Cash on Bank
Accounts Receivable
Notes Receivable
Office Supplies
Printing Equipment
Binding Equipment
Accounts Payable
Angel, Capital
Angel, Drawing
Printing Income
Taxes and Licenses
Rent Expenses
Advertising Expenses
Salaries and Wages
Transportation expense
Light and water
the month of February 2016:
4 0 0 0 0
Office Supplies
04/02/2020 10,000.00 01/02/2020
28/02/2020 15,000.00
1 0 0 0 0
25,000.00 -
25,000.00
6 0 0 0 0
1 5 0 0 0
Angel, Capital
- 1,050,000.00
1,050,000.00
2 5 0 0 0
1 0 0 0 0
Rent Expenses
1 0 0 0 0 02/02/2020 10,000.00 08/02/2020
10,000.00 -
10,000.00
1 0 0 0 0
4 0 0 0 0
3 5 0 0 0 15,000.00 -
15,000.00
7 5 0 0 0
3 0 0 0 0
1 5 0 0 0
1 8 0 0 0
Cash on Hand Accounts Receivable
40,000.00 06/02/2020 60,000.00
15,000.00 12/02/2020 25,000.00
10,000.00 20/02/2020 35,000.00
10,000.00 24/02/2020 75,000.00
40,000.00
18,000.00
80,000.00 53,000.00 135,000.00 60,000.00
27,000.00 75,000.00
600,000.00 - 150,000.00 -
600,000.00 150,000.00
10/02/2020 30,000.00
10,000.00 - 18/02/2020 40,000.00
- 245,000.00
245,000.00
Advertising Expenses Salaries and Wages
15,000.00 15/02/2020 10,000.00
15,000.00 - 10,000.00 -
15,000.00 10,000.00
Notes Receivable
06/02/2020 30,000.00
25/02/2020 30,000.00
30,000.00 30,000.00
-
Accounts Payable
04/02/2020 10,000.00
16/02/2020 10,000.00
28/02/2020 15,000.00
10,000.00 25,000.00
15,000.00
02/02/2020 8,000.00
8,000.00 -
8,000.00
Transportation expense
28/02/2020 3,000.00
3,000.00 -
3,000.00
PROMOTE ENGINEERING SERVICES
Worksheet
DECEMBER 31, 2020
REVENUES
Printing Income 245,000.00
EXPENSES
Taxes and Licenses 8,000.00
Rent Expenses 10,000.00
Advertising Expenses 15,000.00
Salaries and Wages 10,000.00
Transportation expense 3,000.00
Light and water 15,000.00
Total Expenses 61,000.00
Profit 184,000.00
PROMOTE ENGINEERING SERVICES
STATEMENT OF FINANCIAL POSITION
DECEMBER 31, 2020
CURRENT ASSETS
Cash and Cash Equivalents 389,000.00
Accounts Receivable 75,000.00
Office Supplies 25,000.00
Total Current Asset 489,000.00
NON-CURRENT ASSETS
Printing Equipment 600,000.00
Binding Equipment 150,000.00
Total Non-Current Asset 750,000.00
LIABILITIES
Accounts Payable 15,000.00
OWNER'S EQUITY
Angel, Capital 1,050,000.00
Less: Angel, Drawing 10,000.00
PROFIT 184,000.00