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L2 - Written Work #4

The income statement shows the company's revenues and expenses for June 2021. Total revenues were ₱96,545 consisting of delivery fees and interest income. Total expenses were ₱70,900 resulting in a net income of ₱25,645. The statement of changes in equity shows an increase in the owner's equity from ₱50,000 to ₱66,645 from additional investment and net income, less withdrawals. The balance sheet lists the company's assets (including cash, accounts receivable, and equipment), liabilities (such as notes and accounts payable), and owner's equity as of June 30, 2021. The statement of cash flows shows cash from

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117 views4 pages

L2 - Written Work #4

The income statement shows the company's revenues and expenses for June 2021. Total revenues were ₱96,545 consisting of delivery fees and interest income. Total expenses were ₱70,900 resulting in a net income of ₱25,645. The statement of changes in equity shows an increase in the owner's equity from ₱50,000 to ₱66,645 from additional investment and net income, less withdrawals. The balance sheet lists the company's assets (including cash, accounts receivable, and equipment), liabilities (such as notes and accounts payable), and owner's equity as of June 30, 2021. The statement of cash flows shows cash from

Uploaded by

Wen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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L2: Written Work #4 Income Statement

Corpuz's Delivery Services


Income Statement
For the Month of June 2021

Revenues
Delivery Fees ₱95,000.00
Interest Income ₱1,545.00
Total Revenues ₱96,545.00

Expenses
Salaries Expense ₱35,500.00
Utilities Expense ₱6,800.00
Rent Expense ₱10,000.00
Supplies Expense ₱7,100.00
Insurance Expense ₱5,000.00
Depreciation Expense-Del. Equipt. ₱4,000.00
Depreciation Expense-Office Equipt.₱2,500.00 ₱70,900.00

Net Income (Net Loss) ₱25,645.00

1/12/2022 1
L2: Written Work #4 Equity

Corpuz's Delivery Services


Statement of Changes in Equity
For the Month of June 2021

Corpuz, Owner's Equity, June 1, 2021 ₱50,000.00


Add: Additional Investment ₱2,000.00
Interest Income ₱24,645.00
Total ₱76,645.00
Less: Withdrawals ₱10,000.00
Corpuz, Owner's Equity, June 30, 2021 ₱66,645.00

1/12/2022 2
L2: Written Work #4 Balance Sheet

Statement of Financial Position (Balance Sheet)


For the Month of June 2021

Asset Liabilities
Current Assets Current Liabilities
Cash ₱22,200.00 Notes payable ₱330,000.00
Accounts Receivable ₱17,300.00 Accounts Payable ₱178,645.00
Supplies ₱15,000.00 Salaries Payable ₱15,500.00
Prepaid Rent ₱10,000.00 Utilities Payable ₱6,355.00
Prepaid Insurance ₱5,000.00 Interest Payable ₱12,500.00
Total Current Assets ₱69,500.00 Total Liabilities ₱543,000.00

Owner's Equity
Property, Plant & Equipt.
Delivery Equipt. ₱420,000.00
Acc. Depreciation ₱4,000.00 ₱416,000.00 Corpuz's Capital, June 30, 2021
Office Equipment ₱60,000.00
Acc. Depreciation ₱2,500.00 ₱57,500.00
Total Property, Plant & Equipt. ₱473,500.00
Tota Assets ₱543,000.00 Total Liabilities & Equity ₱543,000.00

1/12/2022 3
L2: Written Work #4 Cash Flow

Corpuz's Delivery Services


Statement of Cash Flow
For the month of June 2021
Cash Flow from Operating Activity
Cash received from clients ₱60,400.00
Cash Payment to suppliers -10,000.00
Cash Payment to employees -13,800.00
Cash Payment for office rent -10,000.00
Cash Payment for insurance -14,000.00
Cash Payment for utilities -3,000.00
Net cash provided by (used in) operating activities ₱9,600.00

Cash Flows from Investing Activities


Payments to acquire delivery equipment
-420,000.00
Payments to acquire office equipment-15,000.00
Net cash provided by (used in) investing activities -435,000.00

Cash Flow from Financing Activities


Cash received as investments by owner
₱250,000.00
Cash received from borrowings ₱230,000.00
Payments for withdrawals of owners-14,000.00
Net Cash provided by (used in) financing activities ₱446,000.00
Net increase (decrease in cash) ₱20,600.00
Cash balance at the beginning of the period 0
Cash balance at the end of the period P 22,200.00

1/12/2022 4

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