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Maynard Company

This document summarizes Maynard Company's statement of financial position as of June 1st and June 30th, as well as its income statement and retained earnings statement for June. Key details include an increase in retained earnings from $221,511 to $229,446 from the $19,635 profit in June. Total assets increased from $638,538 to $681,888, and total equity and liabilities increased from $638,358 to $681,888 over the month.

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Nikitha Andrea Saldanha
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348 views5 pages

Maynard Company

This document summarizes Maynard Company's statement of financial position as of June 1st and June 30th, as well as its income statement and retained earnings statement for June. Key details include an increase in retained earnings from $221,511 to $229,446 from the $19,635 profit in June. Total assets increased from $638,538 to $681,888, and total equity and liabilities increased from $638,358 to $681,888 over the month.

Uploaded by

Nikitha Andrea Saldanha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Maynard

Statement of Financial position as on 1 June


EQUITY AND LIABILITIES ASSETS
Shareholder's Funds Non-Current
Owners Capital $ 390,000 Building $ 429,000
Retained Earnings $ 221,511 Equipments $ 7,956
$ 611,511 Land $ 89,700
Liabilities Other $ 4,857 $ 531,513
Non current liabilities Current
other NCL $ 2,451 Account receivable $ 21,798
Current Liabilities Note Receivable $ 11,700
Accounts Payable $ 8,517 prepaid Insurance $ 3,150
Accured wages Payable $ 1,794 Supplies on Hand $ 5,559
Bank notes payables $ 8,385 Inventory $ 29,835
Taxes Payable $ 5,700 Cash $ 34,983

$ 26,847 $ 107,025
GRAND TOTAL $ 638,358 $ 638,538
Maynard
Statement of Financial position as on 30 June
EQUITY AND LIABILITIES ASSETS
Shareholder's Funds Non-Current
Owners Capital $ 390,000 Building $ 427,050
Retained Earnings $ 229,446 Equipments $ 30,732
$ 619,446 Land $ 89,700
Liabilities Other $ 5,265
Non current liabilities Current
other NCL $ 2,451 Account receivable $ 26,505
Current Liabilities Note Receivable $ -
Accounts Payable $ 21,315 prepaid Insurance $ 2,826
Accured wages Payable $ 2,202 Supplies on Hand $ 6,630
Bank notes payables $ 29,250 Inventory $ 26,520
Taxes Payable $ 7,224 Cash $ 66,660

$ 62,442
GRAND TOTAL $ 681,888
S

$ 552,747

$ 129,141
$ 681,888
Maynard Company
INCOME STATEMENT FOR JUNE
S. No. Particulars Income Expense
1 Sales/ Revenue $ 70,925
2 COGS $ 39,345
3 Gross Profit $ 31,580
4 Wages $ 5,888
5 Supplies $ 600
6 Insurance $ 324
7 Utilities $ 900
8 Miscellaneous $ 135
9 Operating Profit(EBITDA) $ 23,733
10 Depriciation $ 2,574
11 Income before Taxes(EBT) $ 21,159
12 Taxes $ 1,524
Net Profit $ 19,635
STATEMENT OF RETAINED EARNINGS
Opening Balance of Profit $ 221,511
Profit in June $ 19,635
Total Amount of Profit available for distribution $ 241,146
Appropriation of profits (Dividends) $ 11,700
Closing Balance (Retained Earnings) $ 229,446
Dispensers of California
CASH FLOW STATEMENT FOR THE END OF FIRST YEAR
S. No. Particulars Amount
A) Cash Flow from Operations
1
2
3
4
5
6
7
Total $ -
B) Cash Flow from Investing
1

Total $ -
C) Cash Flow from Financing

Total $ -
Grand Total $ -

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