Tabular Summary of transactions for legal services company Ltd.

Assets = Liabilities + Equi

Trans Accounts Accounts

Cash + + Equipment = + Notes Payable + share capital
action Receivable Payable

1 +$ 10,000,000 +$ 10,000,000
2 -$ 800,000
3 +$ 3,000,000 +$ 3,000,000
4 +$ 1,500,000
5 +$ 700,000 +$ 700,000
6 +$ 2,000,000

7 -$ 900,000

Balan
$10,500,000 + $2,000,000 + $3,000,000 = $3,000,000 + $700,000 + $10,000,000
ce

$15,500,000 $15,500,000
rvices company Ltd.
Equities
Retained Earnings
+
Revenue - Expense - Div
Issued Shares
-$ 800,000 Rent Expense

+$ 1,500,000 Service Revenue

+$ 2,000,000 Service Revenue

-$ 500,000 Salary Expense
-$ 300,000 Utilities Expense
-$ 100,000 Ads. Expense

+ $3,500,000 - $1,700,000

$15,500,000
 Tabular Summary of transactions for legal services c
Transaction
s Assets =

office Accounts
Cash + Prepaid rent + + =
equipment Receivable

1 +$ 10,000,000
2 -$ 800,000 +$ 800,000
3 +$ 300,000
4 +$ 1,500,000
5 +$ 700,000
6 +$ 2,000,000
7 -$ 900,000

Balance +$ 10,500,000 +$ 800,000 +$ 300,000 +$ 2,000,000

+$ 13,600,000
ummary of transactions for legal services company Ltd.

Liabilities + Equities

Accounts Payable + Notes Payable + share capital + Revenue - Expenses - Div

+$ 10,000,000

+$ 300,000
+$ 1,500,000
+$ 700,000
+$ 2,000,000
-$ 500,000
-$ 300,000
-$ 100,000
+$ 300,000 +$ 700,000 +$ 10,000,000 +$ 3,500,000 -$ 900,000
+$ 13,600,000
 LEGAL SERVICES COMPANY LTD.
Income Statement
For The Month Ended July 31, 2017
Revenues
service revenues $3,500,000

Expenses
Salaries and WagesExpense $500,000
Rent Expense $800,000
Utilities Expense $300,000
Advertising Expense $100,000
Total Expenses $1,700,000
Net Income $1,800,000

LEGAL SERVICES COMPANY LTD.

Statement of Financial Position
July 31, 2017
Assets
Cash $10,500,000
Account Receivable $2,000,000
Equipment $300,000
Total Asset $12,800,000
Liability and Equity
Equity
Share capital-Ordinary $10,000,000
Retained Earnings $1,800,000 $11,800,000
Liability
Account payable $3,000,000
Note payable $700,000 $3,700,000
Total Equity and liability $15,500,000
 LEGAL SERVICES COMPANY LTD.
Retained Earnings Statement
For The Month Ended July 31, 2017
Retained Earnings , July 1
Add: Net income
Retained Earnings , July 31

LEGAL SERVICES COMPANY LTD.

Statement of Cash Flows
For The Month Ended July 31, 2017
Cash flows from Operating Activities

Cash flows from Investing Activities

Cash flows from Financing Activities

 $0
$1,800,000
$1,800,000
 Tabular Summary of transactions for legal services company Ltd.
Transact
ions Assets Liabilities Equities
office Accounts Accounts Notes
Cash share capital
equipment Receivable Payable Payable
1 +$ 10,000,000 +$ 10,000,000
2 -$ 800,000
3 +$ 3,000,000 +$ 3,000,000
4 +$ 1,500,000
5 +$ 700,000 +$ 700,000
6 +$ 2,000,000
7 -$ 900,000

Balance +$ 10,500,000 +$ 3,000,000 +$ 2,000,000 +$ 3,000,000 +$ 700,000 +$ 10,000,000

+$ 16,300,000 +$ 16,300,000
ompany Ltd.

Equities

Revenue Expenses Div

+$ 1,500,000

+$ 2,000,000
-$ 500,000
-$ 300,000
-$ 100,000
+$ 3,500,000 -$ 900,000
+$ 16,300,000