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Mirasol Company: Statement of Comprehensive Income For The Year Ended Dec. 31, 2014

The Mirasol Company statement of comprehensive income for 2014 shows total revenues of ₱1,584,340 consisting of consulting revenues and interest income. Total expenses were ₱1,389,380 including salaries, depreciation, miscellaneous, office supplies, rent and equipment depreciation expenses. This resulted in a profit of ₱207,960 for the year. The statement of changes in owner's equity shows the owner's capital increased from ₱0 to ₱1,688,300 after adding the ₱207,960 profit and subtracting ₱100,000 in withdrawals. The statement of financial position lists total assets of ₱2,219,820

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35 views

Mirasol Company: Statement of Comprehensive Income For The Year Ended Dec. 31, 2014

The Mirasol Company statement of comprehensive income for 2014 shows total revenues of ₱1,584,340 consisting of consulting revenues and interest income. Total expenses were ₱1,389,380 including salaries, depreciation, miscellaneous, office supplies, rent and equipment depreciation expenses. This resulted in a profit of ₱207,960 for the year. The statement of changes in owner's equity shows the owner's capital increased from ₱0 to ₱1,688,300 after adding the ₱207,960 profit and subtracting ₱100,000 in withdrawals. The statement of financial position lists total assets of ₱2,219,820

Uploaded by

cherrygalosmo
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MIRASOL COMPANY

Statement of Comprehensive Income


For the year ended Dec. 31, 2014

Revenues:
Consulting Revenues
Interest Income

Total Revenues

1580340
1000

1014300

Expenses:
Salaries Expense
Depreciation Expense-Building

1033300
152000

Miscellaneous Expense

70340

Office Supplies Expense

53740

Rent Expense

50000

Depreciation Expense-Equipment

30000

1389380

MIRASOL COMPANY
Statement of Changes in Owners Equity
For the year ended Dec. 31, 2014

Mirasol Capital, Jan. 1, 2014


Add
Profit
207960
Total

1580340
0
207960
1788300
100000

Withdrawals
Mirasol Capital, Dec. 31, 2014

1688300

MIRASOL COMPANY
Statement of Financial Position
Dec. 31, 2014
Assets
Current Assets:
117880

Cash
Accounts Receivable
Notes Receivable
Accrued Interest Receivable

264940
30000
1000

Office Supplies

20000

Prepaid Insurance

34000

467820

Plant, Property & Equipment


Land

180000

Building Net

1242000

Equipment Net

330000

Total Assets

1752000

2219820

Liabilities & Owners Equity


Accounts Payable

204000

Unearned Consulting Revenues

12000

Accrued Salaries Payable

20000

Mirasol Capital

236000
1891060
Php.2127060

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