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Statement of Finance Position


As at December 31st 2014

Cash 48900 trade payables


Trade Recievables 25000 note payable
Store and Office Equipment 49000 interest payable
total liabilities

Total Assets 122900

contrib capital
retained earning

shareholders equity

Lia+ Eq

Revenue Revenues
cash sales 119000 Cost of Sales
credit sales 1000 General and Administrative Expense
total 120000 Depreciation expense
Interest Expese
Total expense
earnings before
Expenses income tax
cost of goods sold 40000 net eaarnings
monthly expenses 38000
not yet paid 600
total 78600

net earnings 41400


rade payables 7000
ote payable 3000
nterest payable 120
otal liabilities

10120

ontrib capital 100000


etained earning 12780

hareholders equity 112780

122900

843598
417015
Administrative Expenses 135282
n expense 25639
52269
630205
213393
57242
156151
depreciatione xpense 4000
accumulated depreciation 4000
DE because cost of truck is already set up
office supplies expense 1150
office supplies 1150
DE adjusted an inventory count
truck repair expense 1200
accoutns payable 1200
AE had the cars repaired
taxes expense 1500
taxes payable 1500
AE taxes will need to be paid
accounts recievable 6000
revenue 6000
AR work was done but not collected
insurance expense 600
prepaid insurance 600
DE insurance was paid out
Interest expense 165
Interest Payable 165
AE

Income tax expense 10954


income tax payable 10954
Acrued Expense

Cash 512000
Rent Revenue 512000

Accounts Recievable 16000


Rent Revenue 16000

Cash 12000
Unearned Revenue 12000

Salaries Payable 4000


Cash 4000

Salaries Expense 62000


Cash 62000

Salaries expense 3000


salaries payable 3000

recievables from employees 1500


cash 1500

supplies expense 9300


supplies 9300