Assets 1-Jun 30-Jun Liabilities

Current Current
Cash 34,983.00 66,660.00 Acc payable
Acc rec 21,798.00 26,505.00 Accrued wages payable
Merchandise inv 29,835.00 26,520.00 Bank notes payable
Note rec , Diane Meynard 11,700.00 - Taxes
Prepaid insurance 3,150.00 2,826.00 Total
Supplies on hand 5,559.00 6,630.00 1,071.00
Total 107,025.00 129,141.00 Non current
Non curren Others
Building 585,000.00 585,000.00 Total
less: Depre 156,000.00 157,950.00
total 429,000.00 427,050.00 Total Liability
Equipment 13,260.00 36,660.00 23,400.00
less: Depre 5,304.00 5,928.00 Equity
total 7,956.00 30,732.00 Capital stock
Land 89,700.00 89,700.00 Retained earnings
Others 4,857.00 5,265.00 408.00
Total 531,513.00 552,747.00 Total Equity

Total Assets 638,538.00 681,888.00 Total Liabilities and Equities

Payable cycle = opening + credit purchases - paid during the period= closing
Receivable cycle = opening + credit sales - collection during the period= closing
 1-Jun 30-Jun Particulars June
Revenue 70,925.00 Sales
8,517.00 21,315.00 Cost of goods sold 39,345.00 Cash
1,974.00 2,202.00 Cost of goods sold (supplies) 600.00 Credit
8,385.00 29,250.00 20,865.00 Gross profit 30,980.00 Total
5,700.00 7,224.00
24,576.00 59,991.00 Depre 2,574.00 Inventory
Wages paid 5,888.00 Opening
Prepaid insurance 324.00 Purchase
2,451.00 2,451.00 Utilities 900.00 COGS
2,451.00 2,451.00 Misc 135.00 Closing
Total operating expense 9,821.00
27,027.00 62,442.00 Supplies
Tax 1,524.00 Opening
Purchase
390,000.00 390,000.00 COGS
221,511.00 229,446.00 Net Profit 19,635.00 Closing
Dividends 11700
611,511.00 619,446.00 7,935.00 7,935.00 Wages
Opening
638,538.00 681,888.00 Cash paid
Total wages
Closing
 Sales
44,420.00
26,505.00
70,925.00

Inventory
29,835.00
36,030.00
39,345.00
26,520.00

Supplies
5,559.00
1671
600.00
6,630.00

Wages
1,974.00
5,660.00
5,888.00
2,202.00