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MJC Financial Services Income Statement For Period Ended 03/30/2017 Monthly Amount Monthly Percent Yearly Amount Yearly Percent

The income statement for MJC Financial Services for the period ending March 30, 2017 shows total operating revenue of $142,000 with net income of $46,458. Operating expenses totaled $95,542. The balance sheet lists total assets of $311,458 including cash of $183,900 and no liabilities, with owner's equity of $311,458.

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Ezekiel Malazzab
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97 views2 pages

MJC Financial Services Income Statement For Period Ended 03/30/2017 Monthly Amount Monthly Percent Yearly Amount Yearly Percent

The income statement for MJC Financial Services for the period ending March 30, 2017 shows total operating revenue of $142,000 with net income of $46,458. Operating expenses totaled $95,542. The balance sheet lists total assets of $311,458 including cash of $183,900 and no liabilities, with owner's equity of $311,458.

Uploaded by

Ezekiel Malazzab
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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MJC Financial Services

Income Statement
For Period Ended 03/30/2017
Monthly Monthly Yearly Yearly
Amount Percent Amount Percent
Operating Revenue

Service Revenue 142,000.00 100.00 142,000.00 100.00


------------- --------------- ------------- ------------
Total Operating Revenue 142,000.00 100.00 142,000.00 100.00

Operating Expenses

Advertising Expense 2,000.00 1.41 2,000.00 1.41


Insurance Expense 442.00 0.31 442.00 0.31
Taxes and Licenses 5,000.00 3.52 5,000.00 3.52
Salary Exp. -- Admin. 70,000.00 49.30 70,000.00 49.30
Office Supplies Expense 1,700.00 1.20 1,700.00 1.20
Miscellaneous Expense 900.00 0.63 900.00 0.63
Rent Expense 5,000.00 3.52 5,000.00 3.52
Utilities Expense 6,000.00 4.23 6,000.00 4.23
Gas and Oil 3,000.00 2.11 3,000.00 2.11
Equip. Repair Expense 1,500.00 1.06 1,500.00 1.06
------------- --------------- ------------- ------------
Total Operating Expense 95,542.00 67.29 95,542.00 67.29
------------- --------------- ------------- ------------
Net Income 46,458.00 32.71 46,458.00 32.71
========= ========== ========= ========

MJC Financial Services


Balance Sheet
03/30/2017

Asset

Cash 183,900.00
Accounts Receivable 10,000.00
Office Supplies 1,500.00
Prepaid Insurance 23,558.00
Prepaid Rent 10,000.00
Equipment -- Office 32,500.00
Computer Equipment 50,000.00
-------------
Total Assets 311,458.00
===========
Liabilites

-------------

Total Liabilities

Owner's Equity

XXXX, Capital 300,000.00


XXXX, Drawings -35,000.00
Net Income 46,458.00
-------------
Total Owner's Equity 311,458.00
---------------
Total Liabilities & Equity 311,458.00

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