SANTA CLAUS

INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2020

REVENUES EARNED:

SERVICE INCOME P 4 2 5 8 4 5

LESS: OPERATING EXPENSES

ADVERTISING EXPENSE P 6 6 8 5 8
RENT EXPENSE 1 5 7 1 7
SALARIES EXPENSE 8 5 4 1 2
OTHER EXPENSE 1 2 2 2 5
UTILITIES EXPENSE 3 5 3 0 0
OFFICE SUPPLIES EXPENSE 1 5 2 0 0
TAXES AND LICENSE EXPENSE 3 9 5 3 0
BAD DEBTS EXPENSE 2 4 1 1 1

TOTAL OPERATING EXPENSES 2 9 4 3 5 3

NET INCOME P 1 3 1 4 9 2
 SANTA CLAUS
STATEMENT OF OWNER'S EQUITY
AS OF DECEMBER 31, 2020

Claus, Beginning Capital P 3 8 0 6 5 5

Add: Net Income 1 3 1 4 9 2
Investments 8 6 2 8 5

Total P 5 9 8 4 3 2

Less: Claus, Personal 8 3 8 7 9

CLAUS, ENDING CAPITAL P 5 1 4 5 5 3

 SANTA CLAUS
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2020

ASSETS

Current Assets:

Cash P 6 6 7 2 9 8
Accounts Receivable 2 1 2 8 1 1
Allowance for Bad Debts ( 3 6 0 3 6)
Notes Receivable 8 5 6 4 5
Office Supplies 2 8 7 7 4
Other Prepaid Expenses 1 7 0 2 0 0

Total Current Assets P 1 1 2 8 6 9 2

Non- Current Assets

Office Equipment P 3 1 9 2 8 6
Accumulated Depreciation-OE ( 7 9 8 2 2)
Furniture & Fixtures 1 1 2 5 3 7
Accumlated Depreciatiion- F &F ( 3 3 7 6 1)
Other Equipment 4 2 1 8 3 0
Accumlated Depreciatiion- Ot.E ( 6 3 2 7 5)

Total Non- Current Assets 6 7 6 7 9 5

TOTAL ASSETS P 1 8 0 5 4 8 7

LIABILITIES & OWNER'S EQUITY

Current Liabilities:
 Loans Payable P 4 7 7 8 5 9
Notes Payable 2 2 5 6 4 5
Unearned Income 4 0 3 8 5 0

Total Current Liabilities 1 1 0 7 3 5 4

Non- Current Liabilities

Bonds Payable 7 3 2 8 0
Mortgage Payable 1 1 0 3 0 0

Total Non- Current Liabilities 1 8 3 5 8 0

Owner's Equity

Claus, Capital 5 1 4 5 5 3

TOTAL LIABILITIES & OWNER'S EQUITY P 1 8 0 5 4 8 7