ACCOUNT DEBIT CREDIT
Cash on hand 120,586
Cash in bank 560,125
Trade receivables 400,125
Allowance for bad debts 60,128
Advances to suppliers 125,677
Interest receivable 1,248
Prepaid supplies 4,450
Receivable from insurance 70,990
Merchandise inventory - January 1, 2016 255,544
Prepaid interest 987
Prepaid insurance 6,680
Land 780,125
Land improvements 5,040
Accumulated deprecition - Land improvements 2,050
Building 480,650
Accumulated deprecition - Building 100,788
Building improvements 65,234
Accumulated deprecition - Building improvements 5,019
Furtinure and equipment 88,190
Accumulated deprecition - Furniture 10,160
Machinery and equipment 110,897
Accumulated depreciation - Machinery and equipment 45,678
Trade payables 198,700
Advances from officers and employees 5,076
Uilities payable 6,807
Salaries payable 10,150
Unearned rent 5,600
Notes payable - short-term portion 250,000
Notes payable - long-term portion 180,000
Loans payable - short-term portion 130,000
Loans payable - long-term portion 450,000
Eloiza, capital 482,145
Eloiza, drawing 250,000
Sales 2,490,000
Sales discount 10,250
Sales return 1,577
Rent income 10,000
Interest income 1,500
Purchases 510,000
Purchases discount 88,000
Purchases return 7,650
Freight in 56,875
Freight out 6,780
Salaries expense 434,588
Utilities expense 10,770
Advertising expense 5,680
Rent expense 60,000
Bad debts 1,654
Depreciation - building 45,670
Depreciation - land improvements 6,557
Depreciation - building improvements 5,078
Depreciation - furniture 6,087
Depreciation - machinery and equipment 10,157
Supplies expense 10,124
Insurance expense 18,000
Interest expense 12,000
Miscellaneous expense 1,056
Merchandise inventory - December 13, 2016 301,256
Income and expense summary 301,256
4,840,707 4,840,707
FS ACCOUNT CLASS
Cash Asset
Cash Asset
Trade and other receivables Asset
Trade and other receivables Asset
Trade and other receivables Asset
Trade and other receivables Asset
Trade and other receivables Asset
Prepayments Asset
Prepayments Asset
Prepayments Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Property, plant, and equipment Asset
Inventories Asset
FS ACCOUNT CLASS
Trade and other payables Liabilities
Trade and other payables Liabilities
Trade and other payables Liabilities
Trade and other payables Liabilities
Unearned revenue Liabilities
Notes payable Liabilities
Notes payable Liabilities
Loans payable Liabilities
Loans payable Liabilities
FS ACCOUNT CLASS
Equity Equity
Equity Equity
ACCOUNTS DEBIT CREDIT
Cash on hand 120,586
Cash in bank 560,125
Trade receivables 400,125
Allowance for bad debts 60,128
Advances to suppliers 125,677
Interest receivable 1,248
Recievable from insurance 70,990
Prepaid supplies 4,450
Prepaid interest 987
Prepaid insurance 6,680
Land 780,125
Land improvements 5,040
Accumulated deprecition - Land improvements 2,050
Building 480,650
Accumulated deprecition - Building 100,788
Building improvements 65,234
Accumulated deprecition - Building improvemnts 5,019
Furniture and equipment 88,190
Accumulated deprecition - Furniture 10,160
Machinery and equipment 110,897
Accumulated depreciation - Machinery and equipment 45,678
Merchandise inventory - December 13, 2016 301,256
ACCOUNTS DEBIT CREDIT
Trade payables 198,700
Advances from officers and employees 5,076
Utilities payable 6,807
Salaries payables 10,150
Unearned rent 5,600
Notes payable - short-term portion 250,000
Notes payable - long-term portion 180,000
Loans payable - short-term portion 130,000
Loans payable - long-term portion 450,000
ACCOUNTS DEBIT CREDIT
Eloiza, capital 482,145
Eloiza, drawing 250,000
Eloiza Heart Trading Company
Statement of Financial Position
As of December 31, 2016
2016
Current assets
Cash P 680,711
Trade receivables and other receivables 537,912
Inventories 301,256
Prepayments 12,117
Total current assets 1,531,996
Non current asset
Property, plant and equpment - net 1,366,441
Total non-current asset 1,366,441
TOTAL ASSET 2,898,437
Current liabilities
Trade and other payables P 220,733
Unearned revenue 5,600
Notes payables - current portion 250,000
Loans payable - current portion 130,000
Total current liabilities 606,333
Non current liabilitues
Notes payable - noncurrent portion P 180,000
Loans payable - noncurrent portion 450,000
Total noncurrent liabilities 630,000
Total Liabilities 1,236,333
Equity
Owner's equity P 232,145
Net income* 1,429,959
Total equity 1,662,104
TOTAL LIABILITIES AND EQUITY 2,898,437
Eloiza Heart Trading Company
Statement of Comphrehensive Income
For the year ended December 31, 2016
2016
Net sales
Sales 2,490,000
Sales discount -10,250
Sales return -1,577 2,478,173
Less: Cost of sales
Inventories - beginning 255,544
Purchases 510,000
Purchases discount -88,000
Purchases return -7,650 414,350
Freight-in 56,875
Freight-out 6,780 63,655
Total goods available for sale 733,549
Inventories - ending -301,256 432,293
Gross profit 2,045,880
Less: General and operating expenses
Salaries Expense 434,588
Utilities Expense 10,770
Advertising Expense 5,680
Rent Expense 60,000
Bad debts 1,654
Depreciation - building 45,670
Depreciation - land improvements 6,557
Depreciation - building improvements 5,078
Depreciation - furniture 6,087
Depreciation - machinery and equipment 10,157
Supplies expense 10,124
Insurance Expense 18,000
Interest expense 12,000
Miscellaneous expense 1,056 627,421
Net operating income 1,418,459
Add: Rent income 10,000
Add: Interest income 1,500
Net income P 1,429,959
