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  • Marian Company

    Загружено:

    Sigmund Taggueg
    47 просмотров2 страницы
    The financial statements provide an overview of Marian Company's financial position as of June 30, 2020. Assets totaled P106,516 including P354,000 in cash and P15,000 in property and equipment. Liabilities included P24,000 in accounts payable and P15,000 in notes payable. The owner's equity was P67,516, which was lower than the beginning amount of P90,000 due to a P5,000 withdrawal and a net loss of P17,484 for the month.

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    The financial statements provide an overview of Marian Company's financial position as of June 30, 2020. Assets totaled P106,516 including P354,000 in cash and P15,000 in property and equipment. Liabilities included P24,000 in accounts payable and P15,000 in notes payable. The owner's equity was P67,516, which was lower than the beginning amount of P90,000 due to a P5,000 withdrawal and a net loss of P17,484 for the month.

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    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    47 просмотров2 страницы

    Marian Company

    Загружено:

    Sigmund Taggueg
    The financial statements provide an overview of Marian Company's financial position as of June 30, 2020. Assets totaled P106,516 including P354,000 in cash and P15,000 in property and equipment. Liabilities included P24,000 in accounts payable and P15,000 in notes payable. The owner's equity was P67,516, which was lower than the beginning amount of P90,000 due to a P5,000 withdrawal and a net loss of P17,484 for the month.

    Авторское право:

    © All Rights Reserved
    Скачайте в формате DOCX, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 2

    Marian Company

    Statement of Financial Position


    For the month ended June 30, 2020

    ASSETS
    Current Assets
    Cash and Cash Equivalents P354,000

    Receivables P26,000
    Inventories P15,000

    Prepaid Expenses P1,000


    Total Current Assets P91,516
    Property, Plant and Equipment P15,000
    Total Assets P106,516
    LIABILITIES AND OWNER’S EQUITY
    Current Liabilities
    Accounts Payable P24,000
    Notes Payable P15,000
    Capital
    Marian, Capital P67,516
    Total Liabilites and Owner’s P106,516
    Equity:

    Marian Company
    Statement of Changes in Owner’s Equity
    For the month ended June 30, 2020

    Marian Capital Beginning P90,000

    Less: Marian Drawings (P5,000)


    Less: Net Loss (P17,484)
    Marian Capital End P67,516

    Marian Company
    Statement of Financial Operations
    For the month ended June 30, 2020

    Sales P67,600
    Less: Sales Returns and Allowances P1,500

    Sales Discount P504


    Net Sales P65,596

    Less: COGS P72,380


    Gross Profit (Loss) P6,784

    Less: Operating Expenses


    Advertising Expense P1,000
    Freight Out P800
    Rent Expense P3,500
    Salaries P5,000
    Utilities P400 P10,700
    Net Profit (Loss) P17,484

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