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  • Atty - P - Rodriguez

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    Haji Lizardo Labrador
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    The document contains the income statement and statement of financial position for Atty. P. Rodriguez for the month of December 2021. The income statement shows the lawyer earned P210,000 in professional fees and incurred P88,900 in expenses, resulting in net income of P121,100. The statement of financial position lists current assets of P42,000, non-current assets of P431,000, total assets of P473,000, current liabilities of P110,000, and owner's equity of P256,900 less drawings of P15,000 plus income of P121,000 for total liabilities and capital of P473,000.

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    ATTY.-P.-RODRIGUEZ

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    The document contains the income statement and statement of financial position for Atty. P. Rodriguez for the month of December 2021. The income statement shows the lawyer earned P210,000 in professional fees and incurred P88,900 in expenses, resulting in net income of P121,100. The statement of financial position lists current assets of P42,000, non-current assets of P431,000, total assets of P473,000, current liabilities of P110,000, and owner's equity of P256,900 less drawings of P15,000 plus income of P121,000 for total liabilities and capital of P473,000.

    Copyright:

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

    Atty - P - Rodriguez

    Uploaded by

    Haji Lizardo Labrador
    The document contains the income statement and statement of financial position for Atty. P. Rodriguez for the month of December 2021. The income statement shows the lawyer earned P210,000 in professional fees and incurred P88,900 in expenses, resulting in net income of P121,100. The statement of financial position lists current assets of P42,000, non-current assets of P431,000, total assets of P473,000, current liabilities of P110,000, and owner's equity of P256,900 less drawings of P15,000 plus income of P121,000 for total liabilities and capital of P473,000.

    Copyright:

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

    ATTY. P.

    RODRIGUEZ

    Income Statement

    For the month ended December 31, 200_

    Professional fees earned P210,000

    Expenses

    Staff salaries P36, 000

    Rent Expense P29, 400

    Taxes and Licenses P3, 500

    Utilities expense P9,

    Supplies expense P10, 200 88, 900

    Net Income P121, 100


    ATTY. P. RODRIGUEZ

    Statement of Financial Problem

    As of December 31, 2021

    Asset Note

    CURRENT ASSET

    Cash P30, 000

    Accounts Receivable P12, 000

    Total current assets P42, 000

    NON-CURRENT ASSETS

    Property, Plant & Equipment P431, 000

    TOTAL ASSESTS: P473, 000

    Liabilities

    CURRENT LIABILITIES

    Account Payables P110, 000

    Owner’s Equity

    Atty. P. Rodriguez P256, 900

    Less, Atty. P. Rodriguez, Drawing P15, 000

    Income Summary P121, 000

    Total Liabilities & Capital P473, 000

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