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    Adjusted Balance Sheet

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    jenilyndemasuay1

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    Adjusted Balance Sheet

    Uploaded by

    jenilyndemasuay1
    3 views2 pages

    Copyright

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    3 views2 pages

    Adjusted Balance Sheet

    Uploaded by

    jenilyndemasuay1

    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 2

    Edward Burns' Architectural Firm

    Balance Sheet
    As of December 31, 2019

    ASSET
    Current Asset
    Cash on Hand P 580.95
    Less: Cash in Bank-Metro Bank P -45,351.05
    Professional Fees Receivable 23,700
    Less: Allowance for Doubtful Account -1,425.00
    Office Supplies 12,280
    Unused Supplies 2,600
    Telephone Deposit 2,780
    Refundable Deposits 1,500
    Prepaid Insurance 6,838.04
    Prepaid Permits and Licenses -401.5
    Total Current Asset P 3,101.44
    Noncurret Asset
    Furniture and Fixtures 54600
    Less: Accumulated Depreciation - Furniture and Fixtures -910
    Office Equipment 96,500
    Less: Accumulated Depreciation - Office Equipment -2010.42
    Automobile 210,000
    Less: Accumulated Depreciation - Automobile -2,916.67
    Leasehold Improvement 15,000
    Less: Accumulated Depreciation - Leasehold Improvement -250
    Tools 10,000
    Less: Accumulated Depreciation - Tools -416.67
    Total Noncurrent Asset P 379,596.24
    TOTAL ASSET P 382,697.68
    LIABILITIES
    Current Liabilities
    Accounts Payable P 21,620
    Unearned Revenue 20,000
    Elecricity Payable 1,200
    Telephone Payable 280
    Consultancy Payable 8,000
    Bookkeeping Payable 1,500
    Repars and Maintenance Payable 20,000
    Total Liabilities P 54,600
    OWNER'S EQUITY
    Mr. Burn's, Capital P 360,630.75
    Less: Burns' Drawing P -23,000
    Net Loss -9,533.07 P 328,097.68
    TOTAL LIABILITIES AND OWNERS EQUITY P 382,697.68
    P 328,097.68

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