REVENUES

Medical Revenues
Research Revenues
Total

EXPENSES
Salaries Expense
Supplies Expense
Interest Expense
Repairs Expense
Association Dues Expense
Depreciation Expense- Medical Equipment
Depreciation Expense- Medical Building
Telephone Expense
Insurance Expense
Total

Profit
 Dr. Nick Marasigan
Income Statement
For the Month Ended October 20, 2019

P434,000.00
30,000.00
P464,000.00

P124,000.00
35,000.00
28,000.00
23,000.00
15,000.00
9,000.00
5,000.00
3,000.00
1,667.00
243,667

P220,333
 Dr. Nick Marasigan
Statement of Changes in Equity
For the Month Ended October 20, 2019

Marasigan, Owner's Equity, 10 / 1 / 2019

Add: Additional Investment by Marasigan P 0
Profit 220,333
Total
Less: Withdrawals
Marasigan, Owner's Equity, 10 / 30 / 2019
P250,000.00

220,333
P470,333
200,000
P270,333
 Dr. Nick Marasigan
Balance Sheet
October 20, 2019

Assets
Current Assets
Cash
Accounts Receivable
Medical Supplies
Prepaid Insurance
Total Current Assets
Property and Equipment (Net)
Land
Medical Building 1,000,000.00
Less: Accumulated Depreciation 5,000.00
Medical Equipment 465,000.00
Less: Accumulated Depreciation 9,000.00

Liabilities
Current Liabilities
24% Notes Payable
20% Notes Payable
Accounts Payable
Salaries Payable
Interest Payable
Unearned Research Revenues
Total Current Liabilities

Owner's Equity
Marasigan, Capital 10 / 30 / 2019
Total Liabilities and Owner's Equity
 P114,000.00
204,000.00
21,000.00
18,333
P357, 333

250,000.00

P995,000.00

456,000.00 1,701, 000.00

P2, 058, 333

P400,000.00
1,200,000.00
49,000.00
51,000.00
28,000.00
60,000.00
P1,788,000.00

270,333
P2,058,333