Gospel Assembly

Income Statement
For the Year ended January 31 2018
Revenue
Tithes and Offering 200,000
Gifts and Donations 170,000
Total Income 370,000

Expenses
Salaries 75,000
Utilities 70,000
Other administrative expenses 20,000
Security 15,000
Fellowships and Visitation Costs 60,000
Bad debts 20,000
Other catering Expenses 40,000
Total Expenses 300,000
Net Surplus 70,000
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 City Assembly
Statement of Financial Position
For the Year ended January 31 2018

Current Assets
Cassh at Bank 40,000
Debtors 130,000
Total Current Assets 170,000
Fixed Assets
Furniture & Fittings 200,000
Buildings 1,000,000
Equipment 230,000
Total Current Assets 1,430,000
Total Assets 1,600,000

Liabilities & Equities

Long-term Loan 460,000
Creditors 70,000
Profit 70,000
Capital Fund 1,000,000
Total Liabilities & Equity 1,600,000