Professional Documents
Culture Documents
Revenues
Boat Rental Revenues 153,895.00
Concession Revenues 5,320.00
Total 159,215.00
Expenses
Boat Rental Expense 6,320.00
Advertising Expense 18,480.00
Salaries Expense 95,480.00
Insurance Expense 900.00
Utilities Expense 19,360.00
Depreciation Expense-Pool Structure 6,000.00
Depreciation Expense-Fan System 1,360.00
Depreciation Expense-Sailboats 8,040.00
Interest Expense 12,000.00
Miscellaneous Expense 1,350.80
Total 169,290.80
Loss 10,075.80
Metro Sails
Balance Sheet
June 30, 2017
Assets
Current Assets
Cash 114,184.20
Accounts Receivable 1,820.00
Prepaid Insurance 9,900.00
Total Current Assets 125,904.20
Property and Equipment (Net)
Land 400,000.00
Pool Structure 1,444,000.00
Less: Accumulated Depreciation-Pool Structure 6,000.00 1,438,000.00
Fan System 93,360.00
Less: Accumulated Depreciation-Pool Structure 1,360.00 92,000.00
Sailboats 323,040.00
Less: Accumulated Depreciation-Sailboats 8,040.00 315,000.00 2,245,000.00
Total Assets 2,370,904.20
Liabilities
Current Liabilities
Accounts Payable 77,900.00
Salaries Payable 6,960.00
Total Current Liabilities 84,860.00
Non-current Liabilities
Mortgage Payable 1,486,200.00
Total Current Liabilities 1,571,060.00
Owners Equity
Makulangan, Capital, 6/30/2017 799,844.20
Total Liabilities and Owners Equity 2,370,904.20
Metro Sails
Statement of Changes in Equity
For the Month Ended June 30, 2017
Cash 114,184.20
Accounts Receivable 1,820.00
Prepaid Insurance 9,900.00
Land 400,000.00
Pool Structure 1,444,000.00
Accumulated Depreciation-Pool Structure 6,000.00
Fan System 93,360.00
Accumulated Depreciation-Fan System 1,360.00
Sailboats 323,040.00
Accumulated Depreciation-Sailboats 8,040.00
Accounts Payable 77,900.00
Salaries Payable 6,960.00
Mortgage Payable 1,486,200.00
Makulangan, Capital 799,844.20
2,386,304.20 2,386,304.20
PERFORMANCE TASK
In
Fundamentals of Accounting, Business,
and Management 2
PRACTICE SET
Grade 12 ABM C