Scribd
Upload
219 views4 pages

Nguyễn Minh Nhật KNC03 31221024307 P1.2LO 45

1) The document contains multiple financial statements for AI Fang Co for the month of August, including a trial balance, income statement, retained earnings statement, and statement of financial position. 2) The income statement shows revenues of $7,500 and expenses of $4,370, resulting in net income of $3,130 for the month. 3) The retained earnings statement shows an increase in retained earnings from $4,800 to $7,230 after adding net income and deducting dividends of $700.

Uploaded by

Bảo Khang
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
219 views4 pages

Nguyễn Minh Nhật KNC03 31221024307 P1.2LO 45

1) The document contains multiple financial statements for AI Fang Co for the month of August, including a trial balance, income statement, retained earnings statement, and statement of financial position. 2) The income statement shows revenues of $7,500 and expenses of $4,370, resulting in net income of $3,130 for the month. 3) The retained earnings statement shows an increase in retained earnings from $4,800 to $7,230 after adding net income and deducting dividends of $700.

Uploaded by

Bảo Khang
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
You are on page 1/ 4

ASSET = LIABILITIES

Stransaction Cash + Accounts Receivable + Supplies + Equipment = Notes Payable +


5000 + 1500 + 500 + 6000 = +
1 +1,200 -1,200
2 -2,800
3 +4,000 +3,500
4 -400 +2,000
5 -4,100

6 -700
7 +2,000 +2,000

4200 + 3800 + 500 + 8000 = 2000 +


16500 = 16500

INCOME STATEMENT
AI FANG CO
Income statement
For August
Revenues
Service Revenues 7500
Expenses
Salaries expense 2800
Rent expense 900
Ad expenses 400
Utility expense 270
Total expenses 4370
Net income 3130
LIABILITIES + EQUITY
Accounts Payable + Share Capital- Ordinary + Retained Earnings + Revenues - Expenses -
4200 + 4000 + 4800

-2,800
+7,500
+1,600
-2,800
-900
-400

+270 -270
3270 + 4000 + 4800 + 7500 - 4370 -

RETAINED EARNINGS STATEMENT


AI FANG CO
Retained Earnings Statement
For August
Retained earnings, August 1 4800
Add: Net income 3130
7930
Less: Dividends 700
Retained earnings, August 31 7230

STATEMENT OF FINANCIAL POSITION


AI FANG CO
Statement of Financial Position
Assets
Equipment 8000
Supplies 500
Accounts receivable 3800
Cash 4200
Total assets 16500
Equity and Liabilities
Equity
Share capital-ordinary 4000
Retained earnings 7230
Liabilities
Accounts payable 3270
Notes payable 2000
Total quity and liabilities 16500
Dividends

-700

700

You might also like