Universidad Central Del Este

Subject:
Technical English II
Topic:
Practice
Students: (GROUP 5)

Teacher:
José Antonio Taveras Morel
 1. With the example in the last slide, make a balance sheet giving
names and numbers to those accounts.

Example Company
Balance Sheet
December 31, 2017
ASSETS LIABILITIES & OWNER´S
EQUITY
Current assets. LIABILITIES
Cash in bank 2,000,000 Current Liabilities
Petty Cash 50,000 Accounts payable 3,000,000
Accounts receivable 1,500,000 Income taxes payable 1,400,000

Investments Long-term
Investments in shares 10,000,000 liabilities Long-term 600,000
of related companies payable document
(Company Rvjack SRL) Mortgages to pay 4,000,000

Total Liabilities 9,000,000

Property, Plant, and Owner´s equity
Equipment Common Stock 18,000,000
Office equipment 500,000 Retained Earnings 7,000,000
(computers and others) Legal Reserve 4,000,000
Transport equipment 500,000
(truck and others)
Land 2,000,000
Building 1,000,000
Total Owner´s Equity 29,000,000
Intangible assets
Franchises 5,000,000
Goodwill 150,000
Patents 15,000,000

Other assets
Sureties and deposits 300,000

TOTAL ASSETS 38,000,000 TOTAL 38,000,000

LIABILITIES &
OWNER´S EQUITY
 2. In the last example, the company sold RD$ 4,000,000 for the year
ended December 31, 2017. Make a Statement of Incomes
identifying the given accounts and their %.
Example corporation
Common- size
Income Statement
For the year ended December 31, 2017

Sales ( all on credit) 4,000,000

Cost of goods sold 3,040,000
Gross profit 960,000
Operating Expenses
Selling expenses 280,000
Administrative expenses 360,000
Total operating activities 640,000

Operating income 320,000

Interest expense 96,000

Income before taxes 224,000

Income tax expense 40,000
Net income after taxes 184,000