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  • ACCOUNTING

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    Princess Madelain T. Desalisa
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    This document contains financial statements for Angelina Espinol Repair Shop for the month ended July 31, 20A. It includes a trial balance, statement of financial performance, statement of changes in owner's equity, and statement of financial position. The statement of financial performance shows the shop generated $43,000 in service income and $23,500 in net income for the month. Assets included $54,500 in cash, $14,500 in accounts receivable, and $30,000 in repair equipment. The owner had capital of $80,000 initially and $93,500 as of July 31.

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    ACCOUNTING.xlsx

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    This document contains financial statements for Angelina Espinol Repair Shop for the month ended July 31, 20A. It includes a trial balance, statement of financial performance, statement of changes in owner's equity, and statement of financial position. The statement of financial performance shows the shop generated $43,000 in service income and $23,500 in net income for the month. Assets included $54,500 in cash, $14,500 in accounts receivable, and $30,000 in repair equipment. The owner had capital of $80,000 initially and $93,500 as of July 31.

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

    ACCOUNTING

    Uploaded by

    Princess Madelain T. Desalisa
    This document contains financial statements for Angelina Espinol Repair Shop for the month ended July 31, 20A. It includes a trial balance, statement of financial performance, statement of changes in owner's equity, and statement of financial position. The statement of financial performance shows the shop generated $43,000 in service income and $23,500 in net income for the month. Assets included $54,500 in cash, $14,500 in accounts receivable, and $30,000 in repair equipment. The owner had capital of $80,000 initially and $93,500 as of July 31.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 4

    CASH ACCOUNTS RECEIVABLE

    80,000.00 4,500.00 18,000.00 9,000.00


    15,000.00 16,000.00 5,500.00
    9,000.00 7,000.00 23,500.00 9,000.00
    4,500.00 4,000.00 14,500.00
    7,500.00
    5,000.00
    10,000.00
    108,500.00 54,000.00
    ACCOUNTS PAYABLE
    54,500.00 16,000.00 30,000.00
    4,500.00
    16,000.00 34,500.00
    18,500.00

    SERVICE INCOME RENT EXPENSE


    15,000.00 7,000.00
    18,000.00
    10,000.00
    43,000.00

    ANGELINA ESPINOL REPAIR SHOP


    TRIAL BALANCE
    AS OF JULY 31, 20A

    CASH 54,500.00
    ACCOUNTS RCEIVABLE 14,500.00
    SUPPLIES 13,000.00
    REPAIR EQUIPMENT 30,000.00
    ACCOUNTS PAYABLE 18,500.00
    ANGELINA ESPINOL. CAPITAL 80,000.00
    ANGELINA ESPINOL, DRAWING 10,000.00
    SERVICE INCOME 43,000.00
    RENT EXPENSE 7,000.00
    REPAIRS EXPENSE 7,500.00
    WAGES EXPENSE 5,000.00

    TOTALS 141,500.00 141,500.00

    ANGELINA ESPINOL REPAIR SHOP


    STATEMENT OF FINANCIAL PERFORMANCE
    FOR THE MONTH ENDED, JULY 31, 20A

    SERVICE INCOME 43,000.00


    LESS: OPERATING EXPENSES
    RENT EXPENSE 7,000.00
    REPAIRS EXPENS 7,500.00
    WAGES EXPEN SE 5,000.00 19,500.00

    NET INCOME 23,500.00

    ANGELINA ESPINOL REPAIR SHOP


    STATEMENT OFCHANGES IN OWNER'S EQUITY
    FOR THE MONTH ENDED, JULY 31, 20A

    ANGELINA ESPINOL, CAPITAL JULY 1, 201 80,000.00


    ADD: NET INCOME 23,500.00
    103,500.00
    LESS: DRAWINGS 10,000.00

    ANGELINA ESPINOL, CCAPITAL, JULY 31, 20A 93,500.00

    ANGELINA EPINOL REPAIR SHOP


    STATEMENT OF FINANCIAL POSITION
    AS OF JULY 31, 20A

    ASSETS

    CURRENT ASSETS:

    CASH 54,500.00
    ACCOUNTS RECEIVABLE 14,500.00
    SUPPLIES 13,000.00
    TOTAL CURRENT ASSETS 82,000.00

    NON-CURRENT ASSETS:
    REPAIR EQUIPMENT 30,000.00

    TOTAL ASSETS 112,000.00

    LIABILITIES AND EQUITY

    CURRENT LIABILITIES:
    ACCOUNTS PAYABLE 18,500.00

    ANGELINA ESPINOL, CAPITAL, JULY 31, 20A 93,500.00

    TOTAL LIABILITIES AND OWNERS' EQUITY 112,000.00


    SUPPLIES REPAIR QUIPMENT
    4,500.00 30,000.00
    8,500.00
    13,000.00

    ANGELINA ESPINOL, CAPITAL ANGELINA ESPINOL, DRAWING


    80,000.00 10,000.00

    REPAIRS EXPENSE WAGES EXPENSE


    7,500.00 5,000.00

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