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Business Solution Enterprise Statement of Financial Position As of December 31, 2018 Assets

The statement of financial position of Business Solution Enterprise as of December 31, 2018 shows total assets of $3,887,000 consisting of current assets of $582,000 and non-current assets of $3,305,000. Total liabilities were $545,000 and owner's equity was $2,055,000 resulting in total liabilities and owner's equity of $3,637,000.

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Cheche Casaljay Ampoan
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56 views4 pages

Business Solution Enterprise Statement of Financial Position As of December 31, 2018 Assets

The statement of financial position of Business Solution Enterprise as of December 31, 2018 shows total assets of $3,887,000 consisting of current assets of $582,000 and non-current assets of $3,305,000. Total liabilities were $545,000 and owner's equity was $2,055,000 resulting in total liabilities and owner's equity of $3,637,000.

Uploaded by

Cheche Casaljay Ampoan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Business Solution Enterprise

Statement of Financial Position


As of December 31, 2018

Assets
Current Assets
Cash 45,000.00
Notes Receivable 360,000.00
Office Supplies 156,000.00
Interest Receivable 21,000.00
Total Current Assets 582,000.00

Non-Current Assets
Land 300,000.00
Building 1,590,000.00
Equipment 2,150,000.00
Accum. Depreciation- Equipment (735,000.00)
Total Non-Current Assets 3,305,000.00

Total Assets 3,887,000.00

Liabilities and Owner's Equity


Curret Liabilities
Accounts Payable 231,000.00
Salaries Payable 14,000.00
Unearned Consulting Revenues 300,000.00
Total Liabilities 545,000.00

Owner's Equity
Mr D. Capital 2,655,000.00
Mr D. Drawing (600,000.00)
2,055,000.00
Net Income 1,037,000.00

Total Liabilities and Owner's Equity 3,637,000.00


Business Solution Enterprise
Statement of Financial Position
As of December 31, 2018

Assets
Current Assets
Cash 45,000.00
Notes Receivable 360,000.00
Office Supplies 156,000.00
Interest Receivable 21,000.00
Total Current Assets 582,000.00

Non-Current Assets
Land 300,000.00
Building 1,590,000.00
Equipment 2,150,000.00
Accum. Depreciation- Equipment (735,000.00)
Total Non-Current Assets 3,305,000.00

Total Assets 3,887,000.00


ss Solution Enterprise
nt of Financial Position
December 31, 2018

Liabilities and Owner's Equity


Curret Liabilities
Accounts Payable 231,000.00
Salaries Payable 14,000.00
Unearned Consulting Revenues 300,000.00
Total Liabilities 545,000.00

Owner's Equity
Mr D. Capital 2,655,000.00
Mr D. Drawing (600,000.00)
2,055,000.00
Net Income 1,037,000.00

Total Liabilities and Owner's Equity 3,637,000.00


Business Solution Enterprise
Statement of Financial Performance
For the Year Ended December 31, 2018

Income
Consulting Revenues 2,258,000.00
Interest Income 24,000.00
Total Income 2,282,000.00

Expenses
Salaries Expense 889,000.00
Office Supplies used 42,000.00
Repairs Expense 116,000.00
Depreciation Expense 161,000.00
Miscellaneous Expense 37,000.00 1,245,000.00

Net Income 1,037,000.00

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