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  • Income Statement: IVAN IZO Law Office

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    Claudio Abineno
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    The document contains financial statements for Ivan Izo Law Office. It includes a balance sheet listing assets of $8,000 in cash and accounts receivable, and $5,000 in supplies. Liabilities include $4,200 in accounts payable and $2,000 in notes payable. The income statement shows $9,650 in revenue and $3,000 in expenses, resulting in $6,650 in net income. The retained earnings statement starts with $700 and adds the $6,650 net income, for total retained earnings of $7,350.

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    jawaban form

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    jawaban 1

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    The document contains financial statements for Ivan Izo Law Office. It includes a balance sheet listing assets of $8,000 in cash and accounts receivable, and $5,000 in supplies. Liabilities include $4,200 in accounts payable and $2,000 in notes payable. The income statement shows $9,650 in revenue and $3,000 in expenses, resulting in $6,650 in net income. The retained earnings statement starts with $700 and adds the $6,650 net income, for total retained earnings of $7,350.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    18 views4 pages

    Income Statement: IVAN IZO Law Office

    Uploaded by

    Claudio Abineno
    The document contains financial statements for Ivan Izo Law Office. It includes a balance sheet listing assets of $8,000 in cash and accounts receivable, and $5,000 in supplies. Liabilities include $4,200 in accounts payable and $2,000 in notes payable. The income statement shows $9,650 in revenue and $3,000 in expenses, resulting in $6,650 in net income. The retained earnings statement starts with $700 and adds the $6,650 net income, for total retained earnings of $7,350.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    IVAN IZO Law Office

    ASSETS =

    S.N. Cash Accounts Receivable Supplies


    $     4,000.00 $                       1,500.00 $500.00
    1) $     1,400.00 $                      -1,400.00
    2) $   -2,700.00
    3) $     3,000.00 $                       3,400.00
    4) $       -400.00
    5) $   -2,750.00
    6) $       -550.00
    7) $     2,000.00
    8) $    -250  
    Total $     4.000.00 $                       3,500.00 $500.00

    $14,000

    Income Statement

    Revenues
    Service Revenue $9,650

    Expenses
    salaries $1,500
    rent 900
    advertsing 350
    utilities 250
    TOTAL 3,000
    Net Income $6,650

    Retained Earning Statment

    R/Earnings $700
    net income 6,650
    7,350
    dividen -
    Retained Earnings $7,350
    ZO Law Office
    LIABILITIES +

    Equipment Accounts Payable Notes Payable Share Capital


    $                         5,000.00 $                 4,200.00 $             6,800.00

    $               -2,700.00
    6,400
    $                         1,000.00 $                     600.00
    -2,750
    -550
    $         2,000.00
    250
    $                         6,000.00 $                 2,350.00 $         2,000.00 $     9,650

    $14,000
    EQUITY

    Retained Earnings Revenue Expenses Dividends


    $                 700.00

    -2750

    -250
                    700.00 $      (3000.00)

    $14,000

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