De Guzman Legal Services

Income Statement
For the year ended, Dec. 31, 2015

Revenues
Consulting Revenues 390,000
Expenses
Depreciation expense - Off. Equip. 30,000
Depreciation expense - Comp. Equip. 10,000
Office Supplies Expense 5,000
Insurance Expense 1,000
Rent Expense 50,000
Salaries Expense 123,000
Telephone Expense 10,000
Utilities Expense 39,000
Total: 268,000
Profit: ₱ 122,000.00

De Guzman Legal Ser

Balance Sheet
For the year ended, Dec.

Current Assets
Cash
Office Supplies
Prepaid Insurance
Total Current Assets
Property and Equipment (Net)
Office Equipment
Accumulated Depreciation - Off.Equip.
Computer equipment
Accumulated Depreciation - Comp.Equip.

Current Liabilities
Notes Payable
Accounts Payable
Salaries Payable
Total Current Liabilities

De Guzman, Capital, 12/31/2016

Total Liabilities and Equity
 De Guzman Legal Services
Statement of Changes in Equity
For the year ended, Dec. 31, 2015

De Guzman, Capital, 12/31/2015 114,000

Add: Additional Investments
Profit 122,000 122,000
Total 236,000
Less: Withdrawals 35,000
De Guzman, Capital, 12/31/2015 ₱ 201,000.00

De Guzman Legal Service

Balance Sheet
For the year ended, Dec. 31, 2015

Assets

75,000
3,000
11,000
₱ 89,000.00

150,000
30,000 120,000
60,000
10,000 50,000 ₱ 170,000.00
₱ 259,000.00
Liabilities

50,000
5,000
3,000
₱ 58,000.00
Owner's Equity
₱ 201,000.00
₱ 259,000.00