R.

MALIKSI ACCOUNTING SERVICES

Trial Balance
For the month ended, January 31 2017

Debit Credit
Cash 8, 670
Accounts Receivable 61, 590
Supplies 12, 975
Prepaid Insurance 4, 500
Prepaid Rent 40, 500
Equipment 80, 700
Accumulated Depreciation- Equipment 14, 400
Furniture and Fixture 58, 200
Accumulated Depreciation-Furniture and Fixture 7, 200
Automobile 450, 000
Accounts Payable 13, 485
Notes Payable 300, 000
R. Maliksi, Capital 372, 320
R. Maliksi, Drawing 8, 000
Service Revenue 66, 350
Salaries Expense 30, 600
Utilities Expense 7, 930
Taxes Expense 8, 100
Miscellaneous Expense 1, 990

TOTAL 773, 775 773, 775

 MALIKSI ACCOUNTING SERVICES
Statements of Financial Position
For the month ended, January 31, 2017

ASSETS

Cash 8, 670
Accounts Receivable 61, 590
Supplies 3, 420
Prepaid Insurance 1, 690
Prepaid Rent 35, 440
Prepaid Taxes 7, 425
Equipment 80, 700
Accumulated Depreciation-Equipment (14, 400)
Furniture and Fixtures 58, 200
Accumulated Depreciation-Furniture and Fixtures (7, 560)
Automobile 450, 000
Accumulated Depreciation- Automobile (1, 680)

TOTAL ASSETS 682, 955

LIABILITIES
Accounts Payable 13, 485
Notes Payable 300, 000
Salaries Payable 620
Unearned Service Revenue 5, 240

TOTAL LIABILITIES 319, 345

OWNER’S EQUITY
R. Maliksi, Capital 371, 610
R. Maliksi, Drawing (8, 000)

TOTAL LIABILITIES AND CAPITAL 682, 955

 MALIKSI ACCOUNTING SERVICES
Statement of Comprehensive Income
For the month ended, January 31.

SERVICE REVENUE 61, 110

Less Operating Expenses:
Salaries Expense 31, 220
Utilities Expense 7, 930
Taxes Expense 675
Miscellaneous Expense 1, 990
Supplies Expense 9, 555
Rent Expense 5, 060
Insurance Expense 2, 810
Depreciation Expense-Equipment 540
Depreciation Expense- Furniture and Fixtures 360
Depreciation Expense- Automobile 1, 680

TOTAL OPERATING EXPENSES 61, 820

NET LOSS -710
 ‘MALIKSI ACCOUNTING SERVICES
Statements of Owner’s Equity
For the month ended, January 31, 2017

Capital, January 1. 192, 320

Additional Investment 180, 000
Net loss for the month (710)
Less Withdrawal (8,000)
Increase in Capital 171, 290
Capital, January 31 363, 610
 MALIKSI ACCOUNTING SERVICES
Statement of Cash Flow
For the month ended, January 31, 2017

Cash flows from operating activities:

Cash received by the customers
Cash paid for salaries
Cash paid for Utilities
Purchase of supplies and prepaid insurance
Net cash used for operating activities
Cash flows from investing activities:
Cash paid for purchase of plant assets
Cash flows from financing activities:
Cash investment by the owner
Cash borrowed from the bank
Cash withdrawal by the owner
Cash provided by financing activities
Net Increase in cash
Cash Balance, January 1
Cash Balance, January 2
 ‘MALIKSI ACCOUNTING SERVICES
Statement of Cash Flow
For the month ended, January 31, 2017

Cash flows from operating activities:

Cash paid for supplies
Cash received by the customers
Cash paid for salaries
Cash paid for Utilities
Cash paid for Taxes
Cash paid for Miscellaneous
Cash paid for Insurance
Cash paid for rent
Cash paid for amount owed
Cash paid for Depreciation Expense - Automobile
Cash paid for Depreciation Expense - Equipment
Cash paid for Depreciation Expense - Furniture and Fixtures
Net cash provided by operating activities

Cash flows from investing activities:

Cash paid for equipment
Cash paid for furniture and fixtures
Cash paid for vehicle
Cash flows from financing activities:
Cash borrowed from the bank
Cash withdrawal by the owner
Cash provided by financing activities

Net Increase in cash

Cash Balance, January 1
Cash Balance, January 2