0 Download2 Pages / 325 Words
Add in library
Click this icon and make it bookmark in your library to refer it later.
GOT IT
Discuss About The Income Statement With Owners Equity Stand?
As evident from the above stated income statement it can be said that the net profit that has been transferred to capital accounting stood €7285.
|
Cash Budget for the period 2018 |
||||
|
Particulars |
Quarter 1 |
Quarter 2 |
Quarter 3 |
Quarter 4 |
|
Opening Balance |
600 |
3533.75 |
5467.5 |
6401.25 |
|
Receipts |
|
|
|
|
|
Cash Receipts |
3500 |
2500 |
1500 |
2500 |
|
Total |
4100 |
6033 |
6967 |
8901 |
|
Expenses |
|
|
|
|
|
Overheads |
275 |
275 |
275 |
275 |
|
Selling Expense |
291.25 |
291.25 |
291.25 |
291.25 |
|
Total |
566 |
566 |
566 |
566 |
|
Closing Balance |
3533 |
5467 |
6401 |
8335 |
Cash receipts for the first year = 50*70 = 3500
Cash receipts for the Second quarter = 50*50 = 2500
Cash receipts for the Third quarter = 50*30 = 1500
Cash receipts for the Fourth quarter = 50*50 = 2500
Opening Balance = Opening Balance – Closing Balance
The closing amount of cash budget at the end of the fourth quarter stood €8335.
|
Julia Schlussier & Co |
||
|
Balance Sheet |
||
|
January 31-12-2018 |
||
|
Assets |
Amount (€) |
Amount (€) |
|
Current Assets |
|
|
|
Cash |
8335 |
|
|
Prepaid Insurance |
260 |
|
|
Prepaid Road Tax |
120 |
|
|
Total Current Assets |
|
8715 |
|
Non-Current Assets |
|
|
|
Tangible Assets |
|
|
|
Scooter |
1500 |
|
|
Less: Depreciation |
300 |
1200 |
|
Photo Camera |
2500 |
|
|
Less: Depreciation |
500 |
2000 |
|
Computer |
1600 |
|
|
Less: Depreciation |
400 |
1200 |
|
Intangible Assets |
|
|
|
Software |
800 |
|
|
Less: Depreciation |
200 |
600 |
|
Total Non-current Assets |
|
5000 |
|
Total Assets |
|
13715 |
|
Liabilities and stockholder Equity |
|
|
|
Current Liabilities |
|
|
|
Current portion of Parents loan |
|
400 |
|
Total Current Liability |
|
400 |
|
Long-Term Liabilities |
|
|
|
Parents Loan |
1600 |
|
|
Less: Repayment |
400 |
1200 |
|
Total Liabilities |
|
2000 |
|
Stockholders Equity |
|
2850 |
|
Net Profit (tranferred from P/L A/c) |
|
7665 |
|
Total Liabilities and Stockholders Equity |
|
13715 |
As evident from the balance sheet, that Julia & Co has the equal balance of the total assets and total liabilities. The net profit has been transferred to balance sheet from the income statement with owners’ equity standing €3230.
Deegan, C. (2013). Financial accounting theory. McGraw-Hill Education Australia.
Edwards, J. R. (2013). A History of Financial Accounting (RLE Accounting) (Vol. 29). Routledge.
Weil, R. L., Schipper, K., & Francis, J. (2013). Financial accounting: an introduction to concepts, methods and uses. Cengage Learning.
Williams, J. (2014). Financial accounting. McGraw-Hill Higher Education.
To View this & another 50000+ free samples. Please put your valid email id.
Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.
Upload
Unique Document
Document
Under Evaluation
Get Money
into Your Wallet
Total 2 pages, 1 USD Per Page
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2018). Income Statement With Owners Equity Stand. Retrieved from https://myassignmenthelp.com/free-samples/income-statement-with-owners-equity-stand.
"Income Statement With Owners Equity Stand." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/income-statement-with-owners-equity-stand.
My Assignment Help (2018) Income Statement With Owners Equity Stand [Online]. Available from: https://myassignmenthelp.com/free-samples/income-statement-with-owners-equity-stand
[Accessed 28 January 2021].
My Assignment Help. 'Income Statement With Owners Equity Stand' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/income-statement-with-owners-equity-stand> accessed 28 January 2021.
My Assignment Help. Income Statement With Owners Equity Stand [Internet]. My Assignment Help. 2018 [cited 28 January 2021]. Available from: https://myassignmenthelp.com/free-samples/income-statement-with-owners-equity-stand.
At MyAssignmenthelp.com, we are committed to deliver quality assignment assistance in the fastest way possible. To make our service delivery fast, we have hired subject matter experts to work on different subject specific assignments. We have hired experts who owe in-depth knowledge in their respective subjects. As per their expertise, they provide geography assignment help, Physics assignment help, Strategic assignment help, history assignment help, art architecture assignment help and assistance with other subjects as well.
Answer: Australia is one of the countries with competitive pressures and market power. The different market structures that exist in the country have strong market hold but largely do not share to the output and employment (Minifie, 2017). On the other hand, the market structures in Australia have risen but the profitability has not mounted up since 2000’s. The market structures that control half of Australia is monopoly, followed ...
Read More
Answer: 1.a Figure 1: Demand and supply of a risky asset The figure ...
Read More
Answer: Introduction: The Australian economy possesses a mixed-market structure that helps the country to become a developed one. As of 2017, the amount of nominal gross domestic product (GDP) of this large economy was 1.32 trillion while the number of total population was 24.4 million. Since 2008, nominal GDP of Australia has fluctuated due to various external macroeconomic factors while total population has increased steadily during the sam...
Read More
Answer Technical Barriers to International Trade and their Impact Introduction Today’s world of business has undergone globalization. Many business organizations have expanded their trading activities far beyond their national boundaries (Giddens, 2018, p.19). They have embraced global trade which connects them with different markets from different nations. This trading of domestic goods and services across international borders is ter...
Read More
Answer Global Economics Introduction It is the desire of every country to see its economy shining in the global markets. However to achieve this objectives, a lot of dedication must get into play bearing in mind that global markets keeps on fluctuating. At one point, a country’s economy may be flourishing while in other times under gloom. This calls for strategies especially when making decisions regarding economics. To adjust econ...
Read More
Just share requirement and get customized Solution.
Orders
Overall Rating
Experts
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
2109 Order Completed
99% Response Time
184 Order Completed
96% Response Time
752 Order Completed
100% Response Time
203 Order Completed
97% Response Time
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
great work easy to follow and had 0 plagiarism thank you so much . i will recommend.
Australia
Yes, I like ant trust My Assignment Help.com. They help a lot to complete my assignment. Thanks
Australia
Very good writing. Data analysis, Gantt chart, Data table everything is fine. I like My Assignment Help.com
Australia
Thank you so much for all your help. It helped me get an understanding of what is being required.
Australia
