Ariel Company

Income Statement
For the Month Ended October 31, 2021

Service Revenues
Interest Revenues

Less: Expenses
Salaries Expense ₱ 8,000.00
Rent Expense 5,500.00
Utilities Expense 12,000.00
Interest Expense 800.00
Miscellaneous Expense 1,200.00
Supplies Expense 2,100.00
Depreciation Expense 250.00
Uncollectible Accounts Expense 500.00
Insurance Expense 1,250.00
Profit
₱ 334,000.00
400.00

₱ 31,600.00
₱ 302,800.00
 Ariel Company
Statement of Changes in Owner's Equity
For the Month Ended October 31, 2021

Ariel, beginning capital

Add: Additional Investment ₱ 50,000.00
Profit 302,800.00
Less: Withdrawals
Ariel, ending capital
₱ -

25,000.00
₱ 327,800.00
 Ariel Company
Balance Sheet
October 31, 2021

ASSETS
Current Assets:
Cash ₱ 255,300.00
Cash equivalents 80,000.00
Accounts Receivable 142,000.00
Allowance for Uncollectible Accounts
Interest Receivable 400.00
Supplies 900.00
Prepaid Insurance 13,750.00
Non-current Assets:
Equipment 15,000.00
Accumulated Depreciation
TOTAL ASSETS:

LIABILITIES
Current Liabilities:
Notes Payable
Accounts Payable
Unearned Revenues

OWNER'S EQUITY
Capital, ending
TOTAL LIABILITIES & OWNER'S EQUITY:
₱ 500.00

250
₱ 506,600.00

78,000.00
15,800.00
85,000.00

327,800.00
₱ 506,600.00
 Ariel Company
Statement of Cash Flows-Direct Method
For the Month Ended October 31, 2021

CASH FLOW FROM OPERATING ACTIVITIES:

Receipts from Customers
Parital payment to Suppliers as per notes issued
Payment to Employees
Payment for Utilities
Payment for Rent
Payment for Miscellaneous Costs
Payment for Insurance
NET CASH INFLOW FROM OA:

CASH FLOW FROM INVESTING ACTIVITIES:

Cash Outlay/Investment for Cash Equivalents
Partial payment on account as PPE acquired
NET CASH OUTFLOW FROM IA:

CASH FLOW FROM FINANCING ACTIVITIES:

Investment by Owner
Withdrawals
Proceed from issued notes payable
NET CASH INFLOW FROM FA:
NET INCREASE IN CASH:
ADD: CASH, BEGINNING
CASH, ENDING
₱ 277,000.00
(5,000)
(5,000)
(12,000)
(5,500)
(1,200)
(15,000)
₱ 233,300.00

(80,000)
(3,000)
(83,000)

50,000
(25,000)
80,000
₱ 105,000.00
₱ 255,300.00
0
₱ 255,300.00