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Sample Balance Sheet and Income Statement Lecture 1 (III) - 2

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St Dalfour Cebu
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80 views

Sample Balance Sheet and Income Statement Lecture 1 (III) - 2

Uploaded by

St Dalfour Cebu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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EXAMPLE BALANCE SHEET

Lecture 1(iii) p4
Assets year year ITEM
t t-1
cash and cash equivalents 356 350 A
accounts receivable 1356 1480 B
inventory (at lesser of cost and market 2658 2470 C
value)
prepaid expenses 42 34 D
accumulated tax prepayment 70 58 E
current assets 4482 4392 F=A+B+C+D+E

fixed assets at cost 3192 3076 G


less accumulated depreciation 1714 1582 H
net fixed assets 1478 1494 I=G-H

investments (long term) 130 0 J


other assets (long term) 410 410 K
total assets 6500 6296 L = F+I+J+K

liabilities and shareholder's equity


bank loans and notes payable 896 712 M
accounts payable 296 272 N
accrued taxes 72 254 O
other accrued liabilities 382 328 P
current liabilities 1646 1566 Q=M+N+O+P

long term debt 1262 1254 R

ordinary share capital 1564 1564 S


retained earnings 2028 1912 T
total shareholder's equity 3592 3476 U= S+T

total liabilities and shareholders 6500 6296 V=Q+R+U=L


equity
Sample income statement
Lecture 1(iii) p8
YEAR YEAR ITEM NOTES
T T-1
NET SALES 7984 7442 A
LESS COST OF GOODS
5360 5000 B
SOLD
GROSS PROFIT FROM
2624 2442 C C=A-B
TRADING

LESS EXPENSES:
SELLING, GENERAL AND
1824 1682 D
ADMIN EXPENSES
INTEREST 170 140 E
F=C-D-
NET PROFIT BEFORE TAX 630 620 F
E

LESS:
TAX EXPENSE 228 224 G
NET PROFIT AFTER TAX 402 396 H H=F-G
PLUS
OPENING RETAINED
1912 1776 I
EARNINGS
TOTAL AVAILABLE FOR
2314 2172 J J=H+I
APPROPRIATION
LESS DIVIDENDS 286 260 K
CLOSING RETAINED
2028 1912 L L=J-K
EARNINGS
INCREASE IN RETAINED
116 136 M M=L-I
EARNINGS

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