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Statement of Financial Position As of December 31, 2020 SSETS Current Assets Cash Accounts Receivable P 200,000 60,000 30,000 10,500 Inventory Prepaid Rent P 300,500 Jon Cuwront Accote

Statement of Financial Position As of December 31, 2020 SSETS Current Assets Cash Accounts Receivable P 200,000 60,000 30,000 10,500 Inventory Prepaid Rent P 300,500 Jon Cuwront Accote

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Make a statement of cash flow with these financial statements.

De Jose Coffee Shop Statement of Financial Position As of December 31, 2020 ASSETS Current Assets P 200,000 60,000 30,000 10,500 Cash Accounts Receivable Inventory Prepaid Rent P 300,500 Non-Current Assets P 80,450 Equipment Accumulated Depreciation-Equipment (15,500) 64,950 TOTAL ASSET P 365,450 LIABILITIES AND OWNER'S EQUITY Current Liabilities Accounts Payable Salaries Payable P 80,500 20,000 40,050 Unearned Income P 148,550 Total Liabilities P 148,550 Owner's Equity De Jose, Čapital, 12/31/20 P 216,900 Total Owner's Equity P 216,900 TOTAL LIABILITIES AND OWNER'S EQUITY P 365,450
Transcribed Image Text:De Jose Coffee Shop Statement of Financial Position As of December 31, 2020 ASSETS Current Assets P 200,000 60,000 30,000 10,500 Cash Accounts Receivable Inventory Prepaid Rent P 300,500 Non-Current Assets P 80,450 Equipment Accumulated Depreciation-Equipment (15,500) 64,950 TOTAL ASSET P 365,450 LIABILITIES AND OWNER'S EQUITY Current Liabilities Accounts Payable Salaries Payable P 80,500 20,000 40,050 Unearned Income P 148,550 Total Liabilities P 148,550 Owner's Equity De Jose, Čapital, 12/31/20 P 216,900 Total Owner's Equity P 216,900 TOTAL LIABILITIES AND OWNER'S EQUITY P 365,450
De Jose Coffee Shop Statement of Comprehensive Income For Year Ended December 31, 2020 Revenues: P 150,000 Service Revenue Less: Expense Depreciation Expense - Equipment Utilities Expense Salaries Expense Rent Expense P 20,000 50,000 30,000 25,500 P 125,500 NET INCOME 24,500 P De Jose Coffee Shop Statement of Changes in Owner's Equity For Year Ended December 31, 2020 De Joseļ Capital 1/1/2020 P 200,000 Add: Additional Investment P 35,000 Net Income 24,500 Sub-Total P 259,500 Less: De Jose, Widthrawals 42,600 TOTAL OWNER'S EQUITY P 216,900
Transcribed Image Text:De Jose Coffee Shop Statement of Comprehensive Income For Year Ended December 31, 2020 Revenues: P 150,000 Service Revenue Less: Expense Depreciation Expense - Equipment Utilities Expense Salaries Expense Rent Expense P 20,000 50,000 30,000 25,500 P 125,500 NET INCOME 24,500 P De Jose Coffee Shop Statement of Changes in Owner's Equity For Year Ended December 31, 2020 De Joseļ Capital 1/1/2020 P 200,000 Add: Additional Investment P 35,000 Net Income 24,500 Sub-Total P 259,500 Less: De Jose, Widthrawals 42,600 TOTAL OWNER'S EQUITY P 216,900
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