Tess Pascual Shoes Worksheet For The Month Ended Feb. 29, 2020
Tess Pascual Shoes Worksheet For The Month Ended Feb. 29, 2020
Tess Pascual Shoes Worksheet For The Month Ended Feb. 29, 2020
worksheet
for the month ended feb. 29, 2020
adjusting entries
salaries expense
nb nb
salaries payable
51000
51000
tess pascual shoes
income statement
for the month ended feb. 29 2020
operating expenses
selling expenses
salaries expense 102000
supplies expense 14000
transportation out 4000
total selling expense 120000
administrative expense
advertising expense 6000
miscellaneous expense 7000
depreciation expense-bldg 9000
depreciation expense-equip 12000
total administrative expense 34000
total operating expense 154000
operating profit 580140
finance cost 28000
profit 552140
tess pascual shoes
statement of changes in owner's equity
for the month ended feb. 29, 2020
assets
current assets
cash 441140
accs. Receivable 428000
merchandise inventory 397000
supplies 58000
prepaid insurance 48000
total current assets 1372140
non-current assets
land 460000
building 1750000
less: acc. Depreciation-bld 359000 1391000
equipment 2310000
less: acc. Depreciation-equ 642000 1668000 3059000
total assets 4891140
liabilities
current liabilities
accs. Payable 517000
salaries payable 51000
interest payable 2000
total current liabilities 570000
non-current liabilities
mortgage payable 2600000
total liabilities 3170000
owner's equity
pascual, capital 1721140
total liabilities & owner's equity 4891140
Sales 1332000
Purchase Returns and Allowances 25,000
Purchase Discount 226980
Income Summary 1583980