The Income Statement Another Income Statement Income Statement with Net loss.

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  • The Income Statement

    Sheet1

    Roadrunner Delivery Service

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    12401Delivery Revcenue2,6502,65012

    13501Advertising Expense757513

    14505Maintenance Expense60060014

    15510Rent Expense70070015

    16515Utilities Expense12512516

    1739,77539,7751,5002,65038,27537,12517

    18Net Income1,1501,15018

    192,6502,65038,27538,27519

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue2,650

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue2,650

    Expenses:

    Advertising Expense75

    Maintenance Expense600

    Rent Expense700

    Utilities Expense125

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue2,650

    Expenses:

    Advertising Expense75

    Maintenance Expense600

    Rent Expense700

    Utilities Expense125

    Total Expenses1,500

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue2,650

    Expenses:

    Advertising Expense75

    Maintenance Expense600

    Rent Expense700

    Utilities Expense125

    Total Expenses1,500

    Net Income1,150

  • Another Income Statement

    Sheet1

    Roadrunner Delivery Service

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    12401Delivery Revcenue3,3903,39012

    13501Advertising Expense17517513

    14505Maintenance Expense50050014

    15510Rent Expense90090015

    16515Utilities Expense15015016

    1739,38539,3851,7253,39037,66035,99517

    18Net Income1,6651,66518

    193,3903,39037,66037,66019

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue3,390

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue2,650

    Expenses:

    Advertising Expense175

    Maintenance Expense500

    Rent Expense900

    Utilities Expense150

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue3,390

    Expenses:

    Advertising Expense175

    Maintenance Expense500

    Rent Expense900

    Utilities Expense150

    Total Expenses1,725

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue3,390

    Expenses:

    Advertising Expense175

    Maintenance Expense500

    Rent Expense900

    Utilities Expense150

    Total Expenses1,725

    Net Income1,665

  • Income Statement with Net loss

    Sheet1

    Loser Larry's Law Practice

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    12401Legal Fees3,1403,14012

    13501Advertising Expense12512513

    14505Travel Expense2,8002,80014

    15510Rent Expense95095015

    16515Utilities Expense11011016

    1739,54039,5403,9853,14035,55536,40017

    18Net loss84584518

    193,9853,98536,40036,40019

    Sheet1

    Loser Larry's law practice

    Income Statement

    For the Month Ended, October 31, 2006

    Sheet1

    Loser Larry's Law Prctice

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Legal Fees3,140

    Sheet1

    Loser Larry's Law Practice

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Legal Fees3,140

    Expenses:

    Advertising Expense125

    Travel Expense2,800

    Rent Expense950

    Utilities Expense110

    Sheet1

    Loser Larry's Law Practice

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Legl Fees3,140

    Expenses:

    Advertising Expense125

    Travel Expense2,800

    Rent Expense950

    Utilities Expense110

    Total Expenses3,985

    Sheet1

    Loser Larry's Law Practice

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Legal Fees3,140

    Expenses:

    legal Fees125

    Maintenance Expense2,800

    Rent Expense950

    Utilities Expense110

    Total Expenses3,985

    Net Loss845

  • Income Statement with More Than One Revenue

    Sheet1

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    17401Boarding Revenue11,59611,59612

    18405Grooming Revenue4,4964,49613

    19501Advertising Expense3,6753,67514

    20505Equipment Expense93293215

    21510Maintenance Expense2,6582,65816

    22520Rent Expense7,5007,50017

    23530Utilities Expense2,9462,946

    2451,13651,13617,71116,09233,42535,044

    25Net Loss1,6191,619

    2617,71117,71135,04435,044

    Sheet1

    Kits & Pups Grooming

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Boarding Revenue11,596

    Grooming Revenue4,496

    Total Revenue16,092

    Sheet1

    Kits & Pups Grooming

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Boarding Revenue11,596

    Grooming Revenue4,496

    Total Revenue16,092

    Expenses:

    Advertising Expense3,675

    Equipment Expense932

    Maintenance Expense2,658

    Rent Expense7,500

    Utilities Expense2,946

    Total Expenses17,711

    Sheet1

    Kits & Pups Grooming

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Boarding Revenue11,596

    Grooming Revenue4,496

    Total Revenue16,092

    Expenses:

    Advertising Expense3,675

    Equipment Expense932

    Maintenance Expense2,658

    Rent Expense7,500

    Utilities Expense2,946

    Total Expenses17,711

    Net loss1,619

  • Statement of Changes in Owners Equity

    Sheet1

    ACCTTRIAL BALANCE

    NOACCOUNT NAMEDEBITCREDIT

    1101Cash in Bank21,125

    2105Accts Receivable - City News1,450

    3110Accts Receivable - Green Company--------

    4115Computer Equipment3,000

    5120Office Equipment200

    6125Delivery Equipment12,000

    7201Accts Payable - Beacon Advertising75

    8205Accts Pay - North Shore Auto11,650

    9301Maria Sanchez, Capital25,400

    10302Maria Sanchez, Withdrawals500

    11303Income Summary----------------

    12401Delivery Revcenue2,650

    13501Advertising Expense75

    14505Maintenance Expense600

    15510Rent Expense700

    16515Utilities Expense125

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue2,650

    Expenses:

    Advertising Expense75

    Maintenance Expense600

    Rent Expense700

    Utilities Expense125

    Total Expenses1,500

    Net Income1,150

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Total Increase in Capital26,550

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Total Increase in Capital26,550

    Subtotal26,550

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Total Increase in Capital26,550

    Subtotal26,550

    Less:Withdrawals500

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Total Increase in Capital26,550

    Subtotal26,550

    Less:Withdrawals500

    Ending Capital, October 31, 200626,050

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Total Increase in Capital26,550

    Subtotal26,550

    Less:Withdrawals500

    Ending Capital, October 31, 200626,050

  • Statement of Changes in Owners Equity with Additional InvestmentAdditional investment of $1,250 was made during the month.

    Sheet1

    ACCTTRIAL BALANCE

    NOACCOUNT NAMEDEBITCREDIT

    1101Cash in Bank17,695

    2105Accts Receivable - City News2,135

    3110Accts Receivable - Green Company--------

    4115Computer Equipment2,280

    5120Office Equipment250

    6125Delivery Equipment14,700

    7201Accts Payable - Beacon Advertising375

    8205Accts Pay - North Shore Auto12,680

    9301Maria Sanchez, Capital22,940

    10302Maria Sanchez, Withdrawals600

    11303Income Summary----------------

    12401Delivery Revcenue3,390

    13501Advertising Expense175

    14505Maintenance Expense500

    15510Rent Expense900

    16515Utilities Expense150

    Sheet1

    Roadrunner Delivery Service

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Delivery Revenue3,390

    Expenses:

    Advertising Expense175

    Maintenance Expense500

    Rent Expense900

    Utilities Expense150

    Total Expenses1,725

    Net Income1,665

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200621,690

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200621,690

    Add:Investments by Owner1,250

    Net Income1,665

    Total Increase in Capital2,915

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200621,690

    Add:Investments by Owner1,250

    Net Income1,665

    Total Increase in Capital2,915

    Subtotal24,605

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200621,690

    Add:Investments by Owner1,250

    Net Income1,665

    Total Increase in Capital2,915

    Subtotal24,605

    Less:Withdrawals600

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200621,690

    Add:Investments by Owner1,250

    Net Income1,665

    Total Increase in Capital2,915

    Subtotal24,605

    Less:Withdrawals600

    Ending Capital, October 31, 200624,005

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200621,690

    Add:Investments by Owner1,250

    Net Income1,665

    Total Increase in Capital2,915

    Subtotal24,605

    Less:Withdrawals600

    Ending Capital, October 31, 200624,005

  • TheBalanceSheet

    Sheet1

    Roadrunner Delivery Service

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDIT

    1101Cash in Bank21,1251

    2105Accts Receivable - City News1,4502

    3110Accts Receivable - Green Company--------3

    4115Computer Equipment3,0004

    5120Office Equipment2005

    6125Delivery Equipment12,0006

    7201Accts Payable - Beacon Advertising757

    8205Accts Pay - North Shore Auto11,6508

    9301Maria Sanchez, Capital25,4009

    10302Maria Sanchez, Withdrawals50010

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News145

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto1,165

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto11,650

    Total Liabilities11,725

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto11,650

    Total Liabilities11,725

    Owner's Equity

    Maria Sanchez, Capital

    Sheet1

    Roadrunner Delivery Service

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 2006--------

    Add:Investments by Owner25,400

    Net Income1,150

    Total Increase in Capital26,550

    Subtotal26,550

    Less:Withdrawals500

    Ending Capital, October 31, 200626,050

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto11,650

    Total Liabilities11,725

    Owner's Equity

    Maria Sanchez, Capital26,050

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto11,650

    Total Liabilities11,725

    Owner's Equity

    Maria Sanchez, Capital26,050

    Total Liabilities & Owner's Equity37,775

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto11,650

    Total Liabilities11,725

    Owner's Equity

    Maria Sanchez, Capital26,050

    Total Liabilities & Owner's Equity37,775

    Sheet1

    Roadrunner Delivery Service

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank21,125

    Accounts Receivable - City News1,450

    Accounts Receivable - Green Company--------

    Computer Equipment3,000

    Office Equipment200

    Delivery Equipment12,000

    Total Assets37,775

    Liabilities

    Accounts Payable - Beacon Advertising75

    Accounts Payable - North Shore Auto11,650

    Total Liabilities11,725

    Owner's Equity

    Maria Sanchez, Capital26,050

    Total Liabilities & Owner's Equity37,775

  • Statement of Changes in Owners Equity with a Net LossAdditional investment of $1,500 was made during the month.

    Sheet1

    ACCTTRIAL BALANCE

    NOACCOUNT NAMEDEBITCREDIT

    1101Cash in Bank13,865

    2105Accts Receivable - Jim Nasium1,865

    3110Accts Receivable - Stella Sternbaum1,378

    4115Computer Equipment8,000

    5120Office Equipment450

    6125Office Furniture9,500

    7201Accts Payable - Legal Supplies Inc3,675

    8205Accts Pay - Law Review Press2,880

    9301Larry Loser, Capital29,845

    10302Larry Loser, Withdrawals500

    11303Income Summary----------------

    12401Legal Fees3,140

    13501Advertising Expense125

    14505Travel Expense2,800

    15510Rent Expense950

    16515Utilities Expense110

    Sheet1

    Loser Larry's Law Practice

    Income Statement

    For the Month Ended, October 31, 2006

    Revenue:

    Legal Fees3,140

    Expenses:

    Advertising Expense125

    Travel Expense2,800

    Rent Expense950

    Utilities Expense110

    Total Expenses3,985

    Net Loss845

    Sheet1

    Loser Larry's Law Practice

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200628,345

    Sheet1

    Loser Larry's Law Practice

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200628,345

    Add: Investments by Owner1,500

    Subtotal29,845

    Sheet1

    Loser Larry's Law Practice

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200628,345

    Add: Investments by Owner1,500

    Subtotal29,845

    Less:Witdrawals500

    Net Loss845

    Total Decrease in Capital1,345

    Sheet1

    Loser Larry's Law Practice

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200628,345

    Add: Investments by Owner1,500

    Subtotal29,845

    Less:Witdrawals500

    Net Loss845

    Total Decrease in Capital1,345

    Ending Capital Balance, October 31, 200628,500

    Sheet1

    Loser Larry's Law Practice

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200628,345

    Add: Investments by Owner1,500

    Subtotal29,845

    Less:Witdrawals500

    Net Loss845

    Total Decrease in Capital1,345

    Ending Capital Balance, October 31, 200628,500

  • The BalanceSheet with a Net Loss

    Sheet1

    Loser Larry's Law Practice

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDIT

    1101Cash in Bank13,8651

    2105Accts Receivable - Jim Nasium1,8652

    3110Accts Receivable - Stella Sternbaum1,3753

    4115Computer Equipment8,0004

    5120Office Equipment4505

    6125Office Furniture9,5006

    7201Accts Payable - Legal Supplies Inc3,6757

    8205Accts Pay - Law Review Press2,8808

    9301Larry Loser, Capital29,8459

    10302Larry Loser, Withdrawals50010

    Income Summary

    Legal Fees

    Advertising Expense

    Travel Expense

    Rent Expense

    Utilities Expense

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Total Liabilities6,555

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Total Liabilities6,555

    Owner's Equity

    Larry Loser, Capital

    Sheet1

    Loser Larry's Law Practice

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, October 1, 200628,345

    Add: Investments by Owner1,500

    Subtotal29,845

    Less:Witdrawals500

    Net Loss845

    Total Decrease in Capital1,345

    Ending Capital Balance, October 31, 200628,500

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Total Liabilities6,555

    Owner's Equity

    Larry Loser, Capital28,500

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Total Liabilities6,555

    Owner's Equity

    Larry Loser, Capital28,500

    Total Liabilities & Owner's Equity35,055

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Total Liabilities6,555

    Owner's Equity

    Larry Loser, Capital28,500

    Total Liabilities & Owner's Equity35,055

    Sheet1

    Loser Larry's Law Practice

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank13,865

    Accounts Receivable - Jim Nasium1,865

    Accounts Receivable - Stella Sternbaum1,375

    Computer Equipment8,000

    Office Equipment450

    Office Furniture9,500

    Total Assets35,055

    Liabilities

    Accts Payable - Legal Supplies Inc3,675

    Accts Pay - Law Review Press2,880

    Total Liabilities6,555

    Owner's Equity

    Larry Loser, Capital28,500

    Total Liabilities & Owner's Equity35,055

  • Worksheet Problem 9-6

    Sheet1

    Hot Suds Car Wash

    Work Sheet

    For the Month Ended September 30, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    1101Cash in Bank8,4571

    2105Accts Receivable - Linda Brown5842

    3110Accts Receivable - Valley Auto6193

    4115Detailing Supplies8104

    5120Detergent Supplies4605

    6125Office Equipment15,2406

    7130Office Furniture2,1607

    8135Car Wash Equipment7,5228

    9201Accounts Payable - Allen Vacuum3,5289

    10204Accounts Payable - O'Brian's Office1,21510

    11301Regina Delgado, Capital23,84511

    12305Regina Delgado, Withdrawals1,50012

    13310Income Summary----------------13

    14401Wash Revenue9,62314

    15405Wax Revenue8,01915

    16410Interior Detailing Revenue2,62816

    17501Advertising Expense1,96317

    18505Equipment Rental Expense4,13718

    19510Maintenance Expense1,18619

    20520Rent Expense3,50020

    21530Utilities Expense72021

    2248,85848,85822

    2323

    Sheet1

    Hot Suds Car Wash

    Work Sheet

    For the Month Ended September 30, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    1101Cash in Bank8,4571

    2105Accts Receivable - Linda Brown5842

    3110Accts Receivable - Valley Auto6193

    4115Detailing Supplies8104

    5120Detergent Supplies4605

    6125Office Equipment15,2406

    7130Office Furniture2,1607

    8135Car Wash Equipment7,5228

    9201Accounts Payable - Allen Vacuum3,5289

    10204Accounts Payable - O'Brian's Office1,21510

    11301Regina Delgado, Capital23,84511

    12305Regina Delgado, Withdrawals1,50012

    13310Income Summary----------------13

    14401Wash Revenue9,6239,62314

    15405Wax Revenue8,0198,01915

    16410Interior Detailing Revenue2,6282,62816

    17501Advertising Expense1,9631,96317

    18505Equipment Rental Expense4,1374,13718

    19510Maintenance Expense1,1861,18619

    20520Rent Expense3,5003,50020

    21530Utilities Expense72072021

    2248,85848,85811,50620,27022

    23Net Income8,76423

    Sheet1

    Hot Suds Car Wash

    Work Sheet

    For the Month Ended September 30, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    1101Cash in Bank8,4578,4571

    2105Accts Receivable - Linda Brown5845842

    3110Accts Receivable - Valley Auto6196193

    4115Detailing Supplies8108104

    5120Detergent Supplies4604605

    6125Office Equipment15,24015,2406

    7130Office Furniture2,1602,1607

    8135Car Wash Equipment7,5227,5228

    9201Accounts Payable - Allen Vacuum3,5283,5289

    10204Accounts Payable - O'Brian's Office1,2151,21510

    11301Regina Delgado, Capital23,84523,84511

    12305Regina Delgado, Withdrawals1,5001,50012

    13310Income Summary----------------13

    14401Wash Revenue9,6239,62314

    15405Wax Revenue8,0198,01915

    16410Interior Detailing Revenue2,6282,62816

    17501Advertising Expense1,9631,96317

    18505Equipment Rental Expense4,1374,13718

    19510Maintenance Expense1,1861,18619

    20520Rent Expense3,5003,50020

    21530Utilities Expense72072021

    2248,85848,85811,50620,27037,35228,58822

    23Net Income8,7648,76423

  • Income Statement Problem 9-6

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, September 30, 2006

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, September 30, 2006

    Revenues:

    Wash Revenue9,623

    Wax Revenue8,019

    Interior Detailing Revenue2,628

    Total Revenues20,270

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, September 30, 2006

    Revenues:

    Wash Revenue9,623

    Wax Revenue8,019

    Interior Detailing Revenue2,628

    Total Revenues20,270

    Expenses:

    Advertising Expense1,963

    Equipment Rental Expense4,137

    Maintenance Expense1,186

    Rent Expense3,500

    Utilities Expense720

    Total Expenses11,506

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, September 30, 2006

    Revenues:

    Wash Revenue9,623

    Wax Revenue8,019

    Interior Detailing Revenue2,628

    Total Revenues20,270

    Expenses:

    Advertising Expense1,963

    Equipment Rental Expense4,137

    Maintenance Expense1,186

    Rent Expense3,500

    Utilities Expense720

    Total Expenses11,506

    Net Income8,764

  • Statement of Changes in Owners Equity Problem 9-6

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Beginning Capital, Sep 1, 200623,845

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Beginning Capital, Sep 1, 200623,845

    Add:Investment by Owner-------

    Net Income8,764

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Beginning Capital, Sep 1, 200623,845

    Add:Investment by Owner-------

    Net Income8,764

    Total Increase in Capital8,764

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Beginning Capital, Sep 1, 200623,845

    Add:Investment by Owner-------

    Net Income8,764

    Total Increase in Capital8,764

    Subtotal32,609

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Beginning Capital, Sep 1, 200623,845

    Add:Investment by Owner-------

    Net Income8,764

    Total Increase in Capital8,764

    Subtotal32,609

    Less:Withdrawals1,500

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, September 30, 2006

    Beginning Capital, Sep 1, 200623,845

    Add:Investment by Owner-------

    Net Income8,764

    Total Increase in Capital8,764

    Subtotal32,609

    Less:Withdrawals1,500

    Ending Capital, Sep 30, 200631,109

  • Balance Sheet Problem 9-6

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets35,852

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets35,852

    Liabilities

    Accounts Payable - Allen Vacuum3,528

    Accounts Payable - O'bian's Office1,215

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets35,852

    Liabilities

    Accounts Payable - Allen Vacuum3,528

    Accounts Payable - O'bian's Office1,215

    Total Liabilities4,743

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets35,852

    Liabilities

    Accounts Payable - Allen Vacuum3,528

    Accounts Payable - O'bian's Office1,215

    Total Liabilities4,743

    Owner's Equity

    Regina Delgado, Capital31,109

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets35,852

    Liabilities

    Accounts Payable - Allen Vacuum3,528

    Accounts Payable - O'bian's Office1,215

    Total Liabilities4,743

    Owner's Equity

    Regina Delgado, Capital31,109

    Total Liabilities & Owner's Equity35,852

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    September 30, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto619

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment15,240

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets35,852

    Liabilities

    Accounts Payable - Allen Vacuum3,528

    Accounts Payable - O'bian's Office1,215

    Total Liabilities4,743

    Owner's Equity

    Regina Delgado, Capital31,109

    Total Liabilities & Owner's Equity35,852

  • Worksheet Hot Suds Oct

    Sheet1

    Hot Suds Car Wash

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    1101Cash in Bank8,4571

    2105Accts Receivable - Linda Brown5842

    3110Accts Receivable - Valley Auto1103

    4115Detailing Supplies8104

    5120Detergent Supplies4605

    6125Office Equipment7,0126

    7130Office Furniture2,1607

    8135Car Wash Equipment7,5228

    9201Accounts Payable - Allen Vacuum3,7289

    10204Accounts Payable - O'Brian's Office3,38610

    11301Regina Delgado, Capital23,84511

    12305Regina Delgado, Withdrawals1,50012

    13310Income Summary----------------13

    14401Wash Revenue4,37314

    15405Wax Revenue5,24015

    16410Interior Detailing Revenue2,62816

    17501Advertising Expense1,96317

    18505Equipment Rental Expense4,13718

    19510Maintenance Expense4,26519

    20520Rent Expense3,50020

    21530Utilities Expense72021

    2243,20043,20022

    2323

    2424

    Sheet1

    Hot Suds Car Wash

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    1101Cash in Bank8,4571

    2105Accts Receivable - Linda Brown5842

    3110Accts Receivable - Valley Auto1103

    4115Detailing Supplies8104

    5120Detergent Supplies4605

    6125Office Equipment7,0126

    7130Office Furniture2,1607

    8135Car Wash Equipment7,5228

    9201Accounts Payable - Allen Vacuum3,7289

    10204Accounts Payable - O'Brian's Office3,38610

    11301Regina Delgado, Capital23,84511

    12305Regina Delgado, Withdrawals1,50012

    13310Income Summary----------------13

    14401Wash Revenue4,3734,37314

    15405Wax Revenue5,2405,24015

    16410Interior Detailing Revenue2,6282,62816

    17501Advertising Expense1,9631,96317

    18505Equipment Rental Expense4,1374,13718

    19510Maintenance Expense4,2654,26519

    20520Rent Expense3,5003,50020

    21530Utilities Expense72072021

    2243,20043,20014,58512,24122

    23Net Loss2,34423

    14,58514,585

    Sheet1

    Hot Suds Car Wash

    Work Sheet

    For the Month Ended October 31, 2006

    ACCTTRIAL BALANCEINCOME STATEMENTBALANCE SHEET

    NOACCOUNT NAMEDEBITCREDITDEBITCREDITDEBITCREDIT

    1101Cash in Bank8,4578,4571

    2105Accts Receivable - Linda Brown5845842

    3110Accts Receivable - Valley Auto1101103

    4115Detailing Supplies8108104

    5120Detergent Supplies4604605

    6125Office Equipment7,0127,0126

    7130Office Furniture2,1602,1607

    8135Car Wash Equipment7,5227,5228

    9201Accounts Payable - Allen Vacuum3,7283,7289

    10204Accounts Payable - O'Brian's Office3,3863,38610

    11301Regina Delgado, Capital23,84523,84511

    12305Regina Delgado, Withdrawals1,5001,50012

    13310Income Summary----------------13

    14401Wash Revenue4,3734,37314

    15405Wax Revenue5,2405,24015

    16410Interior Detailing Revenue2,6282,62816

    17501Advertising Expense1,9631,96317

    18505Equipment Rental Expense4,1374,13718

    19510Maintenance Expense4,2654,26519

    20520Rent Expense3,5003,50020

    21530Utilities Expense72072021

    2243,20043,20014,58512,24128,61530,95922

    23Net Loss2,3442,34423

    14,58514,58530,95930,959

  • Income Statement Hot Suds - Oct

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, October 31, 2006

    Revenues:

    Wash Revenue4,373

    Wax Revenue5,240

    Interior Detailing Revenue2,628

    Total Revenues12,241

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, October 31, 2006

    Revenues:

    Wash Revenue4,373

    Wax Revenue5,240

    Interior Detailing Revenue2,628

    Total Revenues12,241

    Expenses:

    Advertising Expense1,963

    Equipment Rental Expense4,137

    Maintenance Expense4,265

    Rent Expense3,500

    Utilities Expense720

    Total Expenses14,585

    Sheet1

    Hot Suds Car Wash

    Income Statement

    For the Month Ended, October 31, 2006

    Revenues:

    Wash Revenue4,373

    Wax Revenue5,240

    Interior Detailing Revenue2,628

    Total Revenues12,241

    Expenses:

    Advertising Expense1,963

    Equipment Rental Expense4,137

    Maintenance Expense4,265

    Rent Expense3,500

    Utilities Expense720

    Total Expenses14,585

    Net Loss(2,344)

  • Statement of Changes in Owners EquityInvestment of $2,500 During the Month

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, Oct 1, 200621,345

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, Oct 1, 200621,345

    Add:Investment by Owner2,500

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, Oct 1, 200621,345

    Add:Investment by Owner2,500

    Subtotal23,845

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, Oct 1, 200621,345

    Add:Investment by Owner2,500

    Subtotal23,845

    Less:Withdrawals1,500

    Net Loss2,344

    Total Decrease in Capital3,844

    Sheet1

    Hot Suds Car Wash

    Statement of Changes in Owner's Equity

    For the Month Ended, October 31, 2006

    Beginning Capital, Oct 1, 200621,345

    Add:Investment by Owner2,500

    Subtotal23,845

    Less:Withdrawals1,500

    Net Loss2,344

    Total Decrease in Capital3,844

    Ending Capital, Oct 31, 200620,001

  • Balance Sheet Hot Suds - Oct

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto110

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment7,012

    Office Furniture2,160

    Car Wash Equipment7,522

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto110

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment7,012

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets27,115

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto110

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment7,012

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets27,115

    Liabilities

    Accounts Payable - Allen Vacuum3,728

    Accounts Payable - O'bian's Office3,386

    Total Liabilities7,114

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto110

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment7,012

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets27,115

    Liabilities

    Accounts Payable - Allen Vacuum3,728

    Accounts Payable - O'bian's Office3,386

    Total Liabilities7,114

    Owner's Equity

    Regina Delgado, Capital20,001

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto110

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment7,012

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets27,115

    Liabilities

    Accounts Payable - Allen Vacuum3,728

    Accounts Payable - O'bian's Office3,386

    Total Liabilities7,114

    Owner's Equity

    Regina Delgado, Capital20,001

    Total Liabilities & Owner's Equity27,115

    Sheet1

    Hot Suds Car Wash

    Balance Sheet

    October 31, 2006

    Assets

    Cash in Bank8,457

    Accounts Receivable - Linda Brown584

    Accounts Receivable - Valley Auto110

    Detailing Supplies810

    Detergent Supplies460

    Office Equipment7,012

    Office Furniture2,160

    Car Wash Equipment7,522

    Total Assets27,115

    Liabilities

    Accounts Payable - Allen Vacuum3,728

    Accounts Payable - O'bian's Office3,386

    Total Liabilities7,114

    Owner's Equity

    Regina Delgado, Capital20,001

    Total Liabilities & Owner's Equity27,115

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