The document contains trial balances, income statements, balance sheets, and adjusting entries for Dondoyano Consulting for the year ended December 31, 2012. It shows revenues of $2.258 million and expenses of $1.142 million, resulting in net income of $1.115 million. The balance sheet lists total assets of $3.697 million, total liabilities of $0.527 million, and owner's equity of $3.170 million. The post-closing trial balance balances to $4.622 million on both sides.
The document contains trial balances, income statements, balance sheets, and adjusting entries for Dondoyano Consulting for the year ended December 31, 2012. It shows revenues of $2.258 million and expenses of $1.142 million, resulting in net income of $1.115 million. The balance sheet lists total assets of $3.697 million, total liabilities of $0.527 million, and owner's equity of $3.170 million. The post-closing trial balance balances to $4.622 million on both sides.
The document contains trial balances, income statements, balance sheets, and adjusting entries for Dondoyano Consulting for the year ended December 31, 2012. It shows revenues of $2.258 million and expenses of $1.142 million, resulting in net income of $1.115 million. The balance sheet lists total assets of $3.697 million, total liabilities of $0.527 million, and owner's equity of $3.170 million. The post-closing trial balance balances to $4.622 million on both sides.
The document contains trial balances, income statements, balance sheets, and adjusting entries for Dondoyano Consulting for the year ended December 31, 2012. It shows revenues of $2.258 million and expenses of $1.142 million, resulting in net income of $1.115 million. The balance sheet lists total assets of $3.697 million, total liabilities of $0.527 million, and owner's equity of $3.170 million. The post-closing trial balance balances to $4.622 million on both sides.
INCOME STATEMENT For the Year Ended December 31, 2012 Revenues Consulting Revenues 2,258,000 Interest Income 54,000 Less: Accrued Interest Income 54,000 Total Revenues 2,258,000
Expenses Salaries Expense 889,000 Repairs Expense 116,000 Miscellaneous Expense 37,000 Supplies Expense 42,000 Depreciation Expense 58,750 Total Expenses 1,142,750 Net Income P1,115,250
OWNER’S EQUITY STATEMENT
For the Year Ended December 31, 2012
Dondoyano, Capital 1/1/2012 2,655,000
Net Income 1,115,250 3,770,250 Less Drawings 600,000 Dondoyano Capital 12/31 3,170,250 BALANCE SHEET As of December 31, 2012
Assets Cash 45,000 Notes Receivable 360,000 Accounts Receivable 156,000 Office Supplies 21,000 Land 200,000 Building 1, 590,000 Less: Accumulated Depreciation 1,318,000 1,497,250 Total Assets 3,697,250
