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Financial Statement

The document contains financial statements - an income statement, statement of owner's equity, and balance sheet - for Rowena's Laundry Shop for the month ended March 31, 20xx. The income statement shows the shop had revenues of PHP 12,200 for the period and net profit of PHP 1,075. The statement of owner's equity shows the change in Rowena Cruz's capital account. The balance sheet lists the shop's assets of PHP 362,875 including cash, accounts receivable, supplies, and equipment, and its liabilities of PHP 61,800 including accounts and utilities payable, with owner's equity of PHP 301,075.

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188 views

Financial Statement

The document contains financial statements - an income statement, statement of owner's equity, and balance sheet - for Rowena's Laundry Shop for the month ended March 31, 20xx. The income statement shows the shop had revenues of PHP 12,200 for the period and net profit of PHP 1,075. The statement of owner's equity shows the change in Rowena Cruz's capital account. The balance sheet lists the shop's assets of PHP 362,875 including cash, accounts receivable, supplies, and equipment, and its liabilities of PHP 61,800 including accounts and utilities payable, with owner's equity of PHP 301,075.

Uploaded by

stclementacademyinc1
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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1.

Income Statement
- shows the profit or loss for the period
2. Statement of Owner’s Equity
- shows the change in capital balance for
the period
3. Balance Sheet
- shows the assets, liabilities, and the
owner’s capital balance as of a specific date
Rowena’s Laundry Shop
Income Statement The Heading
For the Month ended March 31, 20xx

Revenues:
Service Revenue Php 12,200
Shows the gross
Less: Expenses:
revenues for the period.
Rent expense Php 3,500
Salary expense 1,500
Supplies used 1,200
Depreciation- The detailed listing of
equipment 3,125 expenses
Utilities expense 1,800
Shows the total
Total Expenses 11,125 expenses

Net Profit Php 1,075 Shows the profit


for the period.
The Statement of Owner’s Equity:

The Heading

Capital account The total of the


and amount that two, which shows
Net income/profit and
appears on the the ending CAPITAL
amount on the right
adjusted trial BALANCE. This will
side
balance be reported in the
Balance Sheet.
Rowena’s Laundry Shop
Balance Sheet The Heading
March 31, 20xx

ASSETS
Details of current
Current Assets:
assets
Cash Php 200,000
Account receivable 9,200
Supplies 6,800 Sub total for
Total Current Assets Php 216,000 current
assets

Non-Current Assets:
Equipment 150,000 Sub total for
Less: Accumulated
non-current
depreciation (3,125) assets
Total Non-Current
Assets 146,875

Total Assets Php 362,875 Total


Details of Current
LIABILITIES AND OWNER’S EQUITY
Liabilities
Current Liabilities:
Account payable Php 60,000
Utilities payable 1,800 Total Current
Total Current Liabilities Php 61,800 Liabilities
Owner’s Equity:
Rowena Cruz, Capital 301,075

Total Liabilities and


Owner’s Equity Php362,875

The amount came


from the Statement of
Owner’s Equity Total
(equal toTotal Assets)
Rowena’s Laundry Shop
Balance Sheet
March 31, 20xx
ASSETS LIABILITIES AND OWNER’S EQUITY

Current Assets: Current Liabilities:


Cash 200,000 Account payable 60,000
Account receivable 9,200 Utilities payable 1,800
Supplies 6,800 Total Current Liabilities 61,800
Total Current Assets 216,000

Non-Current Assets: Owner’s Equity:


Equipment 150,000 Rowena Cruz, Capital 301,075
Less: Accumulated
depreciation
Total Non-Current (3,125)
Assets 146,875

Total Liabilities and


Total Assets 362,875 Owner’s Equity 362,875

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