Scribd Logo
Upload

Welcome to Scribd!

  • 41 views

    Quiz Financial Statement

    Uploaded by

    Jasmine Maningo
    Lenmar Service Company reported a net loss of $8,290 for May 2022. Total revenue was $226,540 from service income, rental income, and interest. Expenses including salaries, rent, utilities, and advertising totaled $234,830. Assets included $116,760 in current assets and $82,460 in non-current assets. Liabilities included $32,510 in current liabilities and $120,000 non-current mortgage payable. Owner's equity was $46,710.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Quiz Financial Statement

    Uploaded by

    Jasmine Maningo
    41 views3 pages
    Lenmar Service Company reported a net loss of $8,290 for May 2022. Total revenue was $226,540 from service income, rental income, and interest. Expenses including salaries, rent, utilities, and advertising totaled $234,830. Assets included $116,760 in current assets and $82,460 in non-current assets. Liabilities included $32,510 in current liabilities and $120,000 non-current mortgage payable. Owner's equity was $46,710.

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Lenmar Service Company reported a net loss of $8,290 for May 2022. Total revenue was $226,540 from service income, rental income, and interest. Expenses including salaries, rent, utilities, and advertising totaled $234,830. Assets included $116,760 in current assets and $82,460 in non-current assets. Liabilities included $32,510 in current liabilities and $120,000 non-current mortgage payable. Owner's equity was $46,710.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    41 views3 pages

    Quiz Financial Statement

    Uploaded by

    Jasmine Maningo
    Lenmar Service Company reported a net loss of $8,290 for May 2022. Total revenue was $226,540 from service income, rental income, and interest. Expenses including salaries, rent, utilities, and advertising totaled $234,830. Assets included $116,760 in current assets and $82,460 in non-current assets. Liabilities included $32,510 in current liabilities and $120,000 non-current mortgage payable. Owner's equity was $46,710.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 3

    LENMAR Service Company

    Income Statement
    for the month ended May 31, 2022
    Revenue:
    Service Income P204,500
    Rental Income 22,000
    Interest Income 40
    P226,540
    Expense:
    Salaries expense P114,600
    Rent Expense 30,000
    Utilities Expense 8,250
    supplies expense 4,160
    advertising espense 40,000
    Insurance expense 24,000
    Taxes & Licenses 12,000
    Interest Expense 200
    Impairment loss 280
    Depreciation- Furniture & Fixture 840
    Depreciation- Office Equipment 500
    P234,830
    Net Loss -8,290

    LENMAR Service Company


    Balace Sheet
    May 31, 2022
    Asset
    Current asset
    Cash 40,860
    Notes Receivable 4,000
    Accounts Receivable 57,880
    Allowance for Imapairement loss -3,280
    Prepaid Advertising 10,000
    Unexpired Insurance 6,000
    Supplies Inventory 1,260
    Interest Recievable 40
    total current asset P116,760

    Non-Current Asset
    Furniture and Fixture P36,800
    Accum. Dep. Furn. & Fixt. -1,840
    Office Equipment 50,000
    Accum. Dep. Office Equipment -2,500
    total non-current asst P82,460
    TOTAL ASSET P199,220

    Liability and Owner's Equity


    Current Liability
    Notes Payable P2,000
    Accounts Payable 24,250
    Utilities Payble 4,250
    Interest Payable 10
    Unearned Rental 2,000
    Non-Current Liability P32,510
    Mortgage Payable P120,000 P120,00
    TOYAL LIABILITY P152,510
    Owner's Equity
    M. Lanza Capital P46,710

    TOTAL LIABILITY AND OWNER'S EQUITY P199,220


    LENMAR Service Company
    Statement of Changes in Equity
    for the month ended May 31, 2022
    M. Lanza Capital May 1, 2022 P75,000
    Add: additional Investment 0
    Net Loss -8,290 -8,290
    TOTAL P66,710
    Less: Drawings P20,000 P20,000
    M. Lanza Capital May 31, 2022 P46,710

    You might also like