Statement of Profit & Loss

Rosa Inc.

For the Year Ended December $31$

Description

Revenue $20232022$

Membership Fees $$70,000$ $$60,000$

Other Revenue $$10,000$ $$8,000$

Total Revenue $$80,000$ $$68,000$

Expenses

Salaries $$40,000$ $$35,000$

Rent $$12,000$ $$11,000$

Utilities $$8,000$ $$7,000$

Insurance $$5,000$ $$4,000$

Depreciation $$10,000$ $$8,000$

Total Expenses $$75,000$ $$65,000$

Net Income $$5,000$ $$3,000$

Statement of Financial Position

Rosa Inc.

As of December $31$

Description

Assets $20232022$

Cash $$50,000$ $$45,000$

Accounts Receivable $$20,000$ $$15,000$

Equipment $$100,000$ $$90,000$

Total Assets $$170,000$ $$150,000$

Liabilities

Accounts Payable

$$10,000$

$$8,000$

Loans $$30,000$ $$25,000$

Total Liabilities $$40,000$ $$33,000$

Equity

Retained Earnings

$$130,000$

$$117,000$

Total Liabilities & Equity $$170,000$ $$150,000$

Bookkeeper Notes

just made notes and have not recorded any of them:

$1.$ In December, we sold $100$ annual memberships for $$1,200$ each. Members paid upfront, but the memberships start in January $2024.$

$2.$ We owe $$50,000$ in year$-$end bonuses for December, which will bepaid in January

$2024.$

$3.$ We completed a corporate wellness program worth $$80,000$ in December. We billed the client but haven't received payment yet.

$4.$ We paid $$24,000$ in October for a one$-$year insurance policy that starts in October

$2023.$

$5.$ We bought new gym equipment for $$500,000$ in January $2023.$ We need to account for its wear and tear over the next five years.

$6.$ We bought $$200,000$ worth of gym equipment on credit in December for our corporate clients. This will be used in future sales.

$7.$ Paid $$10,000$ for December's rent on January $3,2024.$

$8.$ We have a $$300,000$ loan with $6\%$ annual interest. The last payment was in October, so we need to account for interest up to December.

$9.$ We received a $$8,000$ utility bill for December, which will be paid in mid$-$January.

$10.$ We declared $$30,000$ in dividends on December $28,2023,$ to be paid on January $20,$

$2024...........$Calculate adjusted Cash for the year $2023$