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  • XYZ Company Balance Sheet and Profit Loss Statement

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    Shielah De Jesus
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    The document contains the balance sheet for XYZ Company as of December 31, 2018, showing total assets of $120,000 including current assets of $60,000 and non-current assets of $60,000 in equipment. Total liabilities are $70,000 consisting of accounts payable of $50,000 and salary payable of $20,000, with owners' equity of $50,000. It also contains the profit and loss statement for Adonis Laundry Shop for the year ended December 31, 2018, with laundry service fees of $350,000 and operating expenses of $276,000 resulting in net income of $74,000.

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    XYZ COMPANY(balance sheet)

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    The document contains the balance sheet for XYZ Company as of December 31, 2018, showing total assets of $120,000 including current assets of $60,000 and non-current assets of $60,000 in equipment. Total liabilities are $70,000 consisting of accounts payable of $50,000 and salary payable of $20,000, with owners' equity of $50,000. It also contains the profit and loss statement for Adonis Laundry Shop for the year ended December 31, 2018, with laundry service fees of $350,000 and operating expenses of $276,000 resulting in net income of $74,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    282 views2 pages

    XYZ Company Balance Sheet and Profit Loss Statement

    Uploaded by

    Shielah De Jesus
    The document contains the balance sheet for XYZ Company as of December 31, 2018, showing total assets of $120,000 including current assets of $60,000 and non-current assets of $60,000 in equipment. Total liabilities are $70,000 consisting of accounts payable of $50,000 and salary payable of $20,000, with owners' equity of $50,000. It also contains the profit and loss statement for Adonis Laundry Shop for the year ended December 31, 2018, with laundry service fees of $350,000 and operating expenses of $276,000 resulting in net income of $74,000.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    DE JESUS, SHIELAH APRIL 20, 2021

    SFENT-1B

    XYZ COMPANY
    Balance Sheet
    December 31, 2018

    Current Assets:
    Cash 50,000
    Office Supplies 1,000
    Accounts Receivable 5,000
    Inventories 4,000
    Total current Assets 60,000

    Non-current Assets:
    Equipment (net) 60,000

    Total Assets 120, 000

    Liabilities:
    Accounts Payable 50, 000
    Salary Payable 20, 000
    Total current liabilities 70, 000

    Owners Equity:
    XYZ Equity 50, 000

    Total Liabilities and Owners Equity 120, 000


    Adonis Laundry Shop
    Profit and Loss statement
    December 31, 2018

    Laundry Service Fees 350,000


    Less: Operating Expenses
    Heat, Light & Power 96,000
    Salaries Expense 72,000
    Rental Expense 60,000
    Supplies Expense 48,000
    276,000
    Net Income: 74,000

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