Change to Ukrainian interface versionChange to English interface versionChange to Russian interface versionHome pageClear last query resultsHelp page
Search for specific termsBrowse by subject categoryBrowse alphabetical list of titlesBrowse by organizationBrowse special topic issues

close this bookAccounting for the Microbusiness - A Teaching Manual (Peace Corps; 1975; 105 pages)
View the documentInformation
View the documentAcknowledgement
View the documentIntroduction
Open this folder and view contentsThe system
View the documentThe financial statements
View the documentAdditional controls
View the documentOdd entries
Open this folder and view contentsAids
 

The financial statements

To Accompany the System's Entries

1. Beginning Balance Statement
2. Trial Balance
3. Income Statement
4. Ending Balance Statement

BALANCE STATEMENT

Company: Colombian Industries

 

Date: June 30

 

Assets

     

Current

     

Cash on hand

250

   

Banks

2,500

   

Loans to Employees

180

   

Receivables

5,600

   

Inventory

10, 000

   

Short- term investments

- 0 -

   

Total Current Assets

 

18, 530 (a)

 

Fixed Assets

     

Investments

- 0 -

   

Machinery, equipment, tools, etc.

30,000

   

TOTAL ASSETS

   

48, 530 (1)

Liabilities

     

Current

     

Accounts Payable

5, 400

   

Current Obligations

12,000

   

Total Current Liabilities

 

17,400(b)

 

Long Term

     

Accumulated Social Benefits

3,100

   

Bank Obligations

- 0 -

   

Finance Obligations

20,000

   

Others

- 0 -

   

TOTAL LIABILITIES

   

40, 500 (2)

Capital

     

Beginning Capital

8,030

   

Profit/Loss previous years

     

Profit/Loss this year (P&L)

     

TOTAL CAPITAL

   

8,030 (3)

Working Capital

 

1,130 (c)

 
 

1 - 2 = 3 = CAPITAL

   
 

a - b = c = WORKING CAPITAL

   

TRIAL BALANCE

Company: Colombian Industries

 

Date: July 31

 
 

COLUMN I

 

COLUMN II

Cash on hand

290

   

Banks

833

   

Loans to Employees

110

   

Receivables

19, 600

   

Inventory (previous month)

10,000

   

Investments

- 0 -

   

Fixed Assets

30,000

   

Depreciation

   

- 0 -

Accounts payable

   

15,783

Current Obligations

   

12,000

Accumulated Social Benefits

   

3,100

Bank Obligations

   

- 0 -

Finance Obligations

   

19,000

Other Obligations

   

- 0 -

Beginning Capital

   

8,030

Profit/Loss previous years

(Lose)

 

(Profit)

Profit/Loss this year

(Lose)

 

(Profit)

Sales

   

30,000

Coat of Sales

- 0 -

   

Purchases of Raw materials

16,000

   

Labor

3,800

   

Social Benefits

447

   

Personal Expenses

4,700

   

Other Expenses

1,800

   

Interest

333

   

Other Revenue or Expenses

- 0 -

   

TOTALS (Must be equal)

87,913

 

87,913

PROFIT AND LOSS STATEMENT

Company: Colombian Industries

 

Period: 1 - 31 of July

 

SALES

   

30 000

Less Coat of Sales

   

- - 0 -

NET SALES

   

30, 000 (1)

Coat of Goods Sold

     

Initial Inventory

10, 000

   

Plus: Purchases of Raw materials

+ 16,000

   

Subtotal

26, 000

   

Less: Final Inventory

- 6,000

   

Cost of Goods Sold

20,000

 

- 20,000(2)

+Marginal Utility [(1)-(2)]

   

10, 000(3)

Other Revenues & Expenses

     

Labor

3, 8 00

   

Social Benefits

447

   

Personal Expenses

4. 700

   

Other Expenses

1, 800

   

Interest

333

   

Other Revenue or expenses

- 0 -

   

Total Costs

11,080

 

- 11,080 (4)

++Profit

   

= = = = =

+++Loss

   

(1,080)

+ Net Sales less Coat of Goods Sold

     

(1) - (2) = Marginal Utility (3)

     

++ If marginal utility is greater than expenses

     

(3)- (4) = Profit

     

+++ If marginal utility is less than expenses

     

(4) - (3) = Loss

     

BALANCE SHEET

Company: Colombian Industries

 

Date: July 31

 

Assets

     

Current

     

Cash on hand

290

   

Banks

833

   

Loans to employees

110

   

Receivables

19, 600

   

Inventory

6,000

   

Short-term investments

- 0 -

   

Total Current Assets

 

26,833 (a)

 

Fixed Assets

     

Investments

- 0 -

   

Machinery, equipment, tools, etc.

30,000

   

TOTAL ASSETS

   

56,833(1)

Liabilities

     

Current

     

Accounts Payable

15,783

   

Current Obligations

12,000

   

Total Current Liabilities

 

27,783(b)

 

Long Term

     

Accumulated Social Benefits

3,100

   

Bank Obligations

- 0 -

   

Finance Obligations

19,000

   

Others

- 0 -

   

TOTAL LIABILITIES

   

49,883 (2)

Capital

     

Beginning Capital

8,030

   

Profit/Loss previous years

     

Profit/Loss this year (P&L).

(1,080)

   

TOTAL CAPITAL

   

6,950(3)

Working Capital

 

(950) (c)

 
 

1 - 2 = 3 = CAPITAL

   
 

a - b = c = WORKING CAPITAL

   

 

to previous section to next section

[Ukrainian]  [English]  [Russian]