Statement of Financial Performance

Revenues:

Haircut Revenue P. 20, 000

Total Revenues: P. 20, 000

Less: Operating expense

Salaries expense P. 15, 000

Advertise expense P. 2, 000

Total Expense: P. 17, 000

Net Income: P. 3, 000

Statement of Changes in Owner’s Equity

Beginning Capital -

Add: Investment P. 50, 000

Net Income 3, 000

Subtotal P. 53, 000

Less: Withdrawal P. 3, 000

Ending: Rjoyce, Capital P. 50, 000

 Statement of Financial Position

Assets

Current

Cash P. 9, 000

Accounts Receivable P. 8, 000

Notes Receivables P. 10, 000

Prepaid Rent P. 15, 000

Prepaid Insurance P. 12, 000

Supplies P. 8, 000

Total Current Assets: P. 62, 000

Non-current Assets

Equipment P. 25, 000

Furniture P. 3, 000

Total Non-current Assets: P. 28, 000

Total Assets: P. 90, 000

Liabilities

Current Liabilities

Accounts Payable P. 20, 000

Unearned Revenue 20, 000

Total Current Liabilities P. 40, 000

Total Liabilities P. 40, 000

Owner’s Equity

Rjoyce, Capital P. 50, 000

Total Liabilities and Owner’s Equity P. 90, 000 (40,000 + 50,000)

Assets= Liabilities + Owner’s Equity