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Ai Fang Co Income Statement For August, 2020 Revenues Expenses

The document contains financial statements for Ai Fang Co including an income statement, retained earnings statement, and statement of financial position showing assets of ¥16,500, total equity of ¥6,430, and total liabilities of ¥5,000 as of August 31, 2020.

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huynhmynhung1205
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93 views3 pages

Ai Fang Co Income Statement For August, 2020 Revenues Expenses

The document contains financial statements for Ai Fang Co including an income statement, retained earnings statement, and statement of financial position showing assets of ¥16,500, total equity of ¥6,430, and total liabilities of ¥5,000 as of August 31, 2020.

Uploaded by

huynhmynhung1205
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
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a) Tabular

Transaction Assets
Cash Account Supplies Equipment
Receivable
1 1,200 -1,200
2 -2,800
3 4,000 3,500
4 -400 2,000
5 -4,100
6 -700
7 2,000
8
¥4,200 ¥3,800 ¥500 ¥8,000
¥16,500
b)
Ai Fang Co
Income Statement
For August, 2020
Revenues
Service revenues ¥7,500
Expenses
SW expense ¥2,800
Rent expense 900
Advertising expense 400
Utilities expense 270
Total expense 4,370
Net income ¥3,130

Ai Fang Co
Retained earnings
For August, 2020
Retained earnings, August 1
Add: Net income 3,130
Less: Dividends 700
Retained earnings, August 31 ¥2,430

Ai Fang Co
Statement of financial position
On August 31, 2020
Assets
Cash ¥4,200
Account Receivable 3,800
Supplies 500
Equipment 8,000
Total assets ¥16,500
Equity and Liabilities
Equity
Share capital ¥4,000
Retained earnings 2,430
Total Equity ¥6,430
Liabilities
Account Payable ¥3,000
Note payable 2,000
Total liabilities ¥5,000
Total equity and liabilties ¥11,430
Liabilities Equity
Account Payable Note Payable Share Capital - Ordinary Revenues Expenses Dividends

-2,800
7,500
1,600
4,100
700
2,000
270
¥3,000 ¥2,000 ¥4,000 ¥7,500 ¥4,370 ¥700
¥21,570

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