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    Financial Statements

    Uploaded by

    John Carldel Vivo
    The document provides financial statements for R. Maliksi Accounting Services for the month ending January 31, 2017 including a trial balance, statement of financial position, statement of comprehensive income, statement of owner's equity, and statement of cash flows. The trial balance shows the company had $773,775 in total debits and credits. The statement of financial position lists the company's total assets as $682,955 and total liabilities and owner's equity as also $682,955. The statement of comprehensive income shows the company had a net loss of $710 for the month.

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    Financial Statements

    Uploaded by

    John Carldel Vivo
    295 views8 pages
    The document provides financial statements for R. Maliksi Accounting Services for the month ending January 31, 2017 including a trial balance, statement of financial position, statement of comprehensive income, statement of owner's equity, and statement of cash flows. The trial balance shows the company had $773,775 in total debits and credits. The statement of financial position lists the company's total assets as $682,955 and total liabilities and owner's equity as also $682,955. The statement of comprehensive income shows the company had a net loss of $710 for the month.

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    The document provides financial statements for R. Maliksi Accounting Services for the month ending January 31, 2017 including a trial balance, statement of financial position, statement of comprehensive income, statement of owner's equity, and statement of cash flows. The trial balance shows the company had $773,775 in total debits and credits. The statement of financial position lists the company's total assets as $682,955 and total liabilities and owner's equity as also $682,955. The statement of comprehensive income shows the company had a net loss of $710 for the month.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    295 views8 pages

    Financial Statements

    Uploaded by

    John Carldel Vivo
    The document provides financial statements for R. Maliksi Accounting Services for the month ending January 31, 2017 including a trial balance, statement of financial position, statement of comprehensive income, statement of owner's equity, and statement of cash flows. The trial balance shows the company had $773,775 in total debits and credits. The statement of financial position lists the company's total assets as $682,955 and total liabilities and owner's equity as also $682,955. The statement of comprehensive income shows the company had a net loss of $710 for the month.

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    You are on page 1of 8

    R.

    MALIKSI ACCOUNTING SERVICES


    Trial Balance
    For the month ended, January 31 2017

    Debit Credit
    Cash 8, 670
    Accounts Receivable 61, 590
    Supplies 12, 975
    Prepaid Insurance 4, 500
    Prepaid Rent 40, 500
    Equipment 80, 700
    Accumulated Depreciation- Equipment 14, 400
    Furniture and Fixture 58, 200
    Accumulated Depreciation-Furniture and Fixture 7, 200
    Automobile 450, 000
    Accounts Payable 13, 485
    Notes Payable 300, 000
    R. Maliksi, Capital 372, 320
    R. Maliksi, Drawing 8, 000
    Service Revenue 66, 350
    Salaries Expense 30, 600
    Utilities Expense 7, 930
    Taxes Expense 8, 100
    Miscellaneous Expense 1, 990

    TOTAL 773, 775 773, 775


    MALIKSI ACCOUNTING SERVICES
    Statements of Financial Position
    For the month ended, January 31, 2017

    ASSETS

    Cash 8, 670
    Accounts Receivable 61, 590
    Supplies 3, 420
    Prepaid Insurance 1, 690
    Prepaid Rent 35, 440
    Prepaid Taxes 7, 425
    Equipment 80, 700
    Accumulated Depreciation-Equipment (14, 400)
    Furniture and Fixtures 58, 200
    Accumulated Depreciation-Furniture and Fixtures (7, 560)
    Automobile 450, 000
    Accumulated Depreciation- Automobile (1, 680)

    TOTAL ASSETS 682, 955

    LIABILITIES
    Accounts Payable 13, 485
    Notes Payable 300, 000
    Salaries Payable 620
    Unearned Service Revenue 5, 240

    TOTAL LIABILITIES 319, 345


    OWNER’S EQUITY
    R. Maliksi, Capital 371, 610
    R. Maliksi, Drawing (8, 000)

    TOTAL LIABILITIES AND CAPITAL 682, 955


    MALIKSI ACCOUNTING SERVICES
    Statement of Comprehensive Income
    For the month ended, January 31.

    SERVICE REVENUE 61, 110


    Less Operating Expenses:
    Salaries Expense 31, 220
    Utilities Expense 7, 930
    Taxes Expense 675
    Miscellaneous Expense 1, 990
    Supplies Expense 9, 555
    Rent Expense 5, 060
    Insurance Expense 2, 810
    Depreciation Expense-Equipment 540
    Depreciation Expense- Furniture and Fixtures 360
    Depreciation Expense- Automobile 1, 680

    TOTAL OPERATING EXPENSES 61, 820


    NET LOSS -710
    ‘MALIKSI ACCOUNTING SERVICES
    Statements of Owner’s Equity
    For the month ended, January 31, 2017

    Capital, January 1. 192, 320


    Additional Investment 180, 000
    Net loss for the month (710)
    Less Withdrawal (8,000)
    Increase in Capital 171, 290
    Capital, January 31 363, 610
    MALIKSI ACCOUNTING SERVICES
    Statement of Cash Flow
    For the month ended, January 31, 2017

    Cash flows from operating activities:


    Cash received by the customers
    Cash paid for salaries
    Cash paid for Utilities
    Purchase of supplies and prepaid insurance
    Net cash used for operating activities
    Cash flows from investing activities:
    Cash paid for purchase of plant assets
    Cash flows from financing activities:
    Cash investment by the owner
    Cash borrowed from the bank
    Cash withdrawal by the owner
    Cash provided by financing activities
    Net Increase in cash
    Cash Balance, January 1
    Cash Balance, January 2
    ‘MALIKSI ACCOUNTING SERVICES
    Statement of Cash Flow
    For the month ended, January 31, 2017

    Cash flows from operating activities:


    Cash paid for supplies
    Cash received by the customers
    Cash paid for salaries
    Cash paid for Utilities
    Cash paid for Taxes
    Cash paid for Miscellaneous
    Cash paid for Insurance
    Cash paid for rent
    Cash paid for amount owed
    Cash paid for Depreciation Expense - Automobile
    Cash paid for Depreciation Expense - Equipment
    Cash paid for Depreciation Expense - Furniture and Fixtures
    Net cash provided by operating activities

    Cash flows from investing activities:


    Cash paid for equipment
    Cash paid for furniture and fixtures
    Cash paid for vehicle
    Cash flows from financing activities:
    Cash borrowed from the bank
    Cash withdrawal by the owner
    Cash provided by financing activities

    Net Increase in cash


    Cash Balance, January 1
    Cash Balance, January 2

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