Thanks to visit codestin.com
Credit goes to www.scribd.com

Scribd
Upload
37 views1 page

For The First Time in Forever

The document presents financial statements for August, showing sales revenue of $160,000 and total expenses of $31,000, resulting in a net income of $129,000. It also details changes in owner's equity, with an initial investment of $300,000 and a capital balance of $429,000 as of June 30. The balance sheet lists total assets of $442,750, liabilities of $13,750, and confirms that assets equal liabilities plus equity.

Uploaded by

James Montero
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
37 views1 page

For The First Time in Forever

The document presents financial statements for August, showing sales revenue of $160,000 and total expenses of $31,000, resulting in a net income of $129,000. It also details changes in owner's equity, with an initial investment of $300,000 and a capital balance of $429,000 as of June 30. The balance sheet lists total assets of $442,750, liabilities of $13,750, and confirms that assets equal liabilities plus equity.

Uploaded by

James Montero
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
You are on page 1/ 1

Statement of income

for the month of august


Sales revenue 160,000

Expenses
Supplies expense 20,000
Business per exp 4,000
Salaries exp 5,000
Utility exp 2,000
31,000
Net income/net prof 129,000

Statement of changes in owners equity


initial investment 300,000
Net icome 129,000
Capital as of june 30 429,000
Balance sheet
Assets
Farming equipment 50,000
Cash 373,250
Accts receivable 7,000
supplies 12,500
442,750
Liabilities
AP 13,750
Equity
Capital 429,000
442,750

You might also like