- Summary: Write a summary of what the financial statements indicate about the companys financial health and performance.
- Purpose: What kind of information would these financial statements provide to various aspects of the business?
- Analysis: What is the companys cash position, its net income as a percentage of sales, and its current liabilities to current assets position?
Introduction
[In this section, include the purpose of the report. Describe the kind of information these financial statements provide to various aspects of the business.]
Financial Statement Analysis
[This section should center on your analysis of the financial performance of the company based on the statements you prepared. Illustrate the companys cash position, its net income as a percentage of sales, and its current liabilities to current assets position. Explain what this indicates about the companys current financial position and performance.]
Nm 60,000.00 221.00 60,221.00 157.60 60,063.40 1 A Company 2 Income Statement 3 For Qtr. Ending 12/31/20XX 4 5 Revenues 6 Bakery Sales 7 Merchandise Sales 8 Total Revenues 9 Cost of Goods Sold 10 Gross Profit 11 12 Operating Expenses: 13 Baking Supplies Expense 14 Rent Expense 15 Wages Expense 16 Office Supplies Expense 17 Business License Expense 18 Misc. Expense 19 Depreciation Expense 20 Insurance Expense 21 Advertising Expense 22 Interest Expense 23 Telephone Expense 24 25 26 27 28 29 30 Total Operating Expenses: 31 32 Net Income 19,400.00 4,500.00 1,956.00 550.00 375.00 250.00 208.33 200.00 200.00 150.00 150.00 27,939.33 32,124.07 33 34 Inventory Valuation Trial Balance Adjusting Entries Ready 0 1 A Company 2 Statement of Stockholder's Equity 3 For Qtr. Ending 12/31/20xx 4 Common Stock Retained Earnings Total 5 Beginning Balances, September 30 0 0 6 Issued Common Stock 30,000.00 7 Net Income 32,124.00 8 Dividends (10,000.00) 9 Ending Balances, December 31: 30,000.00 22,124.00 10 30,000.00 32,124.00 (10,000.00) 52,124.00 11 1 2 A Company Balance Sheet As of December 31, 20XX 3 4 5 Assets 6 Current Assets: 7 Cash 8 Accounts Receivable 9 Prepaid Rent 10 Baking Supplies 11 Prepaid Insurance 12 Merchandise Inventory 13 Office Supplies 14 Total Current Assets Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable Total Current Liabilities 7,000.00 480.00 150.00 7,630.00 51,436.75 9,700.00 1,500.00 1,100.00 1,000.00 175.65 50.00 64,962.40 Long Term Liabilities: Notes Payable Total Long Term Liabilities: 10,000.00 10,000.00 15 16 Total Liabilities: 17,630.00 17 Shareholder's Equity: Common Stock Cash 30,000.00 22124.07 18 19 20 21 Non-Current Assets: 22 Baking Equipment 23 Accumulated Depreciation 24 Baking Equipment (Net) 25 26 Total Assets: 27 5,000.00 (208.33) 4,791.67 Total Equity 52,124.07 69,754.07 Total Liabilities & Equity 69,754.07 Nm 4 Credit Debit 60,000.00 221.00 9 60,221.00 28,096.93 1 2 A Company Closing Entries Qtr ending 12/31/20xx 5 6 Date Accounts 7 31-Dec Bakery Sales 8 Merchandise Sales 9 Retained Earnings 10 11 31-Dec Retained Earnings 12 Baking Supplies Expense 13 Rent Expense 14 Wages Expense 15 Office Supplies Expense 16 Business License Expense 17 Office Expense 18 Depreciation Expense 19 Insurance Expense Advertising Expense 21 Interest Expense 22 Telephone Expense 23 COGS 24 25 31-Dec Retained Earnings Dividends 27 19,400.00 4,500.00 1,956.00 550.00 375.00 250.00 208.33 200.00 200.00 150.00 150.00 157.60 20 10,000.00 26 10,000.00 28 1 A Company 2 Post-Closing Trial Balance 3 Qtr. Ending 12/31/20xx 4 5 Account 6 Cash 7 Baking Supplies 8 Merchandise Inventory 9 Prepaid Rent 10 Prepaid Insurance 11 Baking Equipment 12 Accumulated Depreciation 13 Office Supplies 14 Accounts Receivable 15 Accounts Payable 16 Wages Payable 17 Interest Payable 18 Notes Payable 19 Common Stock 20 Retained Earnings 21 22 Total 23 Unadjusted Trial Balance Debit Credit 51,436.75 1,100.00 175.65 1,500.00 1,000.00 5,000.00 208.00 50.00 9,700.00 7,000.00 480.00 150.00 10,000.00 30,000.00 22,124.40 69,962.40 69,962.40
