Assets = Liabilities + Equity

Cash + Accounts Receivable + Office Equipment = Accounts Payable + J.D. Simpson, capital -
$60,000 $60,000
-$3,200
$56,800
$1,680 $1,680
$1,680 $1,680
-$800
56,000
$4,600
60,600
$3,000
3000
-$850
59750
$3,000 -$3,000
62,750 0
$2,800
2800
$2,800 -$2,800
65550 0
-$1,680 -$1,680
63870 0
$60
60
-$850
63020
-$200
62820
-$480
62340
-$1,200
$61,140.00
quity
J.D. Simpson Withdrawls + Revenues - Expenses

-$3,200

-$800
-$4,000
$4,600
4600
$3,000
7600
-$850
4850

$2,800
10,400

$60
4910
-$850
5760
-$200
5960
-$480
6440
-$1,200
-1200 $6,440.00
 The Simpson Co.
Income Statement
For the Month Ended May 31,2011
Revenues
Consulting Revenues ($4,600+$3,000+$2,800) $10,400
Total Revenue $10,400
Expenses
Rent Expense $3,200
Maintenance Expense $800
Wages Expense ($850+$850) $1,700
Advertising Expense $60
Utility Expense ($480 + $200) $680
Total Expenses -$6,440
Net Income $3,960.00

J.D. Simpson Co.

Cash Flow Statement
For Month Ended December 31,2011
Cash flow from operating activities
Cash received from clients ($4,600+ $3,000+$2,800) $10,400
cash paid for rent -$3,200
Cash paid for maintenance -$800
cash paid to employees ( $850 + $850 ) -$1,700
cash paid for utilities ($ 480 + $200) -$680
Net Cash provided by operating activities $4,020
cash flow from investing activities
Purchase of equipmement $1,680
Net Cash used by investing activities -$1,680
cash flow from financing activities
investment by owner $60,000
withdrawls by owner -$1,200
Net cash provided by financing activities $58,800
Net increase in cash $61,140
Cash Balance May 1, 2011 0
Cash balance May 31, 2011 $61,140
 The Simpson Co. The Simpson Co.
Statement of Owners Equity Balance Sheet
For the Month Ended May 31, 2011 May 31, 2011
J.D. Simpson, Capital, May 1,2011 $ 0 Assets
Investment by Owner $60,000 Cash $61,140
Net Income $3,960 $63,960 Equipment $1,680
$63,960
Withdrawls By Owner -$1,200
J.D. Simpson, Capital, May 1, 2011 $62,760
Total Assets $62,820
The Simpson Co.
Balance Sheet
May 31, 2011
Liabilities
Accounts Payable $60
Total Liabilities $60

Equity
J.D. Simpson, Capital $62,760
Total Liabilities and Equity $62,820