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    TianoniRea Bernal
    This document contains financial statements for Labandero for the year ended December 31, 2017. It includes an adjusted trial balance, income statement, statement of changes in equity, and statement of financial position. The income statement shows a net loss of $500. The statement of financial position lists total assets of $59,500, including current assets of $23,000 and non-current assets of $36,500, against total liabilities and owner's equity of $59,500.

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    Sample FS

    Uploaded by

    TianoniRea Bernal
    1K views5 pages
    This document contains financial statements for Labandero for the year ended December 31, 2017. It includes an adjusted trial balance, income statement, statement of changes in equity, and statement of financial position. The income statement shows a net loss of $500. The statement of financial position lists total assets of $59,500, including current assets of $23,000 and non-current assets of $36,500, against total liabilities and owner's equity of $59,500.

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    Financial Statement

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    This document contains financial statements for Labandero for the year ended December 31, 2017. It includes an adjusted trial balance, income statement, statement of changes in equity, and statement of financial position. The income statement shows a net loss of $500. The statement of financial position lists total assets of $59,500, including current assets of $23,000 and non-current assets of $36,500, against total liabilities and owner's equity of $59,500.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    1K views5 pages

    Sample FS

    Uploaded by

    TianoniRea Bernal
    This document contains financial statements for Labandero for the year ended December 31, 2017. It includes an adjusted trial balance, income statement, statement of changes in equity, and statement of financial position. The income statement shows a net loss of $500. The statement of financial position lists total assets of $59,500, including current assets of $23,000 and non-current assets of $36,500, against total liabilities and owner's equity of $59,500.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    LABANDERO

    Worksheet
    For the year ended December 31, 2017

    Unadjusted Trial balance Adjustments


    Dr Cr Dr Cr
    Cash 3,000.00
    Laundry Supplies 12,000.00 7,000.00
    Prepaid insurance 6,000.00 2,000.00
    Laundry Equipment 50,000.00
    Accumulated Depreciation(Equipment) 9,000.00 4,500.00
    Accounts Payable 10,000.00 4,000.00
    Desaya , Capital 66,000.00
    Desaya, Drawings 20,000.00
    Laundry Revenue 140,000.00 11,000.00
    Wages Expense 48,000.00 4,000.00
    Rent Expense 60,000.00
    Utilities Expense 24,000.00
    Miscellaneous Expense 2,000.00
    225,000.00 225,000.00
    Adjustments:
    Laundry Supplies Expense 7,000.00
    Unrecorded Laundry Revenue 11,000.00
    Prepaid Insurance Expense 2,000.00
    Depreciation of Laundry Equipment 4,500.00
    28,500.00 28,500.00
    NET LOSS
    Income Statement Statement of Financial
    Adjusted Trial balance Position
    Dr Cr Dr Cr Dr Cr
    3,000.00 3,000.00
    5,000.00 5,000.00
    4,000.00 4,000.00
    50,000.00 50,000.00
    13,500.00 13500
    14,000.00 14000
    66,000.00 66,000.00
    20,000.00 20,000.00
    151,000.00 151000
    52,000.00 52,000.00
    60,000.00 60,000.00
    24,000.00 24,000.00
    2,000.00 2,000.00

    7,000.00 7,000.00
    11,000.00 11000
    2,000.00 2,000.00
    4,500.00 4,500.00
    244,500.00 244,500.00 151,500.00 151,000.00 93,000.00 93,500.00
    - 500.00 500
    151,000.00 151,000.00 93,000.00 93,000.00
    LABANDERO
    Income Statement
    For the year ended December 31, 2017

    Laundry Revenue 151,000.00


    Total income 151,000.00
    Less: Wages Expense 52000
    Rent Expense 60,000.00
    Utilities Expense 24,000.00
    Miscellaneous Expense 2,000.00
    Laundry Supplies Expense 7,000.00
    Prepaid Insurance Expense 2,000.00
    Depreciation of Laundry Equipment 4,500.00
    Total Expense 151,500.00
    NET LOSS : - 500.00
    LABANDERO
    Statement of Changes in Equity
    For the year ended December 31, 2017

    Desaya, capital, beginning. 66,000.00


    Less: Net Loss - 500.00
    Total 65,500.00
    Less: Drawings 20,000.00
    Desaya, capital, ending. 45,500.00
    LABANDERO
    Statement of Financial Position
    31-Dec-17

    ASSETS
    Current assets:
    Cash 3,000.00
    Laundry Supplies 5,000.00
    Prepaid insurance 4,000.00
    Unrecorded Laundry Revenue 11,000.00
    23,000.00

    Non-current assets:
    Laundry equipment 50,000.00
    Less: Accumulated depreciation-laundry eqpt 13,500.00 36,500.00
    Total non-current assets 36,500.00

    TOTAL ASSETS 59,500.00

    LIABILITIES & OWNER'S EQUITY


    Accounts payable 14,000.00
    Total liabilities 14,000.00
    Desaya, capital 45,500.00
    TOTAL LIABILITIES & OWNER'S EQUITY 59,500.00

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