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Cash CA NCA CL

1. The document contains balance sheets and income statements for a company on June 1st and June 30th. It shows assets, liabilities, equity, income and expenses for the period. 2. Key figures include $31,580 in gross profit, $10,421 in total expenses, $21,159 in profit before tax, and $7,935 in net profits after paying dividends of $11,700. 3. The balance sheets and income statements provide a snapshot of the company's financial position and performance over the month of June.

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15vinay
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83 views8 pages

Cash CA NCA CL

1. The document contains balance sheets and income statements for a company on June 1st and June 30th. It shows assets, liabilities, equity, income and expenses for the period. 2. Key figures include $31,580 in gross profit, $10,421 in total expenses, $21,159 in profit before tax, and $7,935 in net profits after paying dividends of $11,700. 3. The balance sheets and income statements provide a snapshot of the company's financial position and performance over the month of June.

Uploaded by

15vinay
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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1-Jun CASH CA NCA CL

Accounts Payable 8517


Accounts Recievable 21798
Accrued Wages Payable 1974
Depreciation on Building -156000
Depreciation on Equipment -5304
Bank Notes Payable 8385
Building 585000
Capital
Cash 34983
Equipment 13260
Land 89700
Merchandise Inventory 29835
Diane Receivable 11700
Other NCA 4857
Other NCL
Prepaid Insurance 3150
Retained Earnings
Supplies on Hand 5559
Taxes Payable 5700

638538 638538

30-Jun CASH CA NCA CL

Accounts Payable 8517


Accounts Recievable 21798
Accrued Wages Payable 1974
Depreciation on Building -156000
Depreciation on Equipment -5304
Bank Notes Payable 8385
Building 585000
Capital
Cash 34983
Equipment 13260
Land 89700
Merchandise Inventory 29835
Diane Receivable 11700
Other NCA 4857
Other NCL
Prepaid Insurance 3150
Retained Earnings
Supplies on Hand 5559
Taxes Payable 5700

638538 638538
NCL CAPITAL Past Aquired Profits Current PROFIT
Income Expense

390000

2451

221511

NCL CAPITAL Past Aquired Profits Current PROFIT


Income Expense

390000

2451

221511
Balance Sheet $ 43,252

Current Assets: Liabilities:


Cash $ 34,983 Current Liabilities:
Acc. Receivable $ 21,798 Accounts Payable
Inventory $ 29,835 Wages Payable
Supplies on Hand $ 5,559 Bank Notes Payable
Prepaid Insurance $ 3,150 Taxes
Note Recievable $ 11,700 NCL:
Non Current Assets: Other NCL
Building $ 585,000 Equities:
Depcreciation $ (156,000) Capital
Equipment $ 13,260 Retained Earnings
Depreciation $ (5,304)
Land $ 89,700
Other NCA $ 4,857

Total Assets: $ 638,538 L+E=

Balance Sheet $ 43,281

Current Assets: Liabilities:


Cash $ 66,660 Current Liabilities:
Acc. Receivable $ 26,505 Accounts Paayable
Inventory $ 26,520 Wages Payable
Supplies on Hand $ 6,630 Bank Notes Payable
Prepaid Insurance $ 2,826 Taxes
Note Recievable $ -
Non Current Assets: NCL:
Building $ 585,000 Other NCL
Depcreciation $ (157,950) Equities:
Equipment $ 36,660 Capital
Depreciation $ (5,928) Retained Earnings
Land $ 89,700
Other NCA $ 5,265

Total Assets: $ 681,888 L+E=


$ 8,517
$ 1,974
$ 8,385
$ 5,700

$ 2,451
net book value june 1: $ 429,000
$ 390,000 $ 427,050
$ 221,511

$ 638,538

Expenses In June

Depreciation
tax
supplies
wages
$ 21,315 utilities
$ 2,202 misc
$ 29,250
$ 7,224

$ 2,451

$ 390,000 $ 619,446
$ 229,446

$ 681,888
$ 1,950 $ 624 $ 2,574
$ 1,524
$ 1,671
$ 5,660
$ 900
$ 135
Income Statement
Income:
Sales $ 70,925
cost of sales $ (39,345)
gross profit $ 31,580

Expenses In June

Depreciation $ 2,574
insurance $ 324
supplies $ 600
wages $ 5,888
utilities $ 900
misc $ 135
total $ 10,421

Cash Purchases of Merchandise $ 14,715


Credit Purchases $ 21,315
opening inventory $ 29,835
cl. Inventory $ (26,520)
Inventory Consumed $ 39,345

profit before tax $ 21,159


tax payable $ (1,524)
Profits $ 19,635
Dividends $ 11,700
Profits $ 7,935
recievable cycle:op acc.rec+cr.sales-collection=cl.acc rec

$ 300

$ 9
$ 80

$ 81

consumed=op+purchases-cl.inv

opening outstanding+expenses for the period-paid=closing outstanding wages

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