Professional Documents
Culture Documents
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JJJ Partnership
Income Statement
for the year ended December 31, 2011
Sales 800,000.00
Merchandise Inventory, Dec 31 26,500.00
Purchase Discount 8,000.00
Merchandise Inventory, Jan1 50,000.00
Purchases 300,000.00
Freight-in 7,500.00
Sales Returns and Allowances 4,500.00
Sales Discount 12,000.00 460,500.00
Expenses:
Rent Expense 10,000.00
Salaries and Wages 90,000.00
Supplies Expense 9,500.00
Taces ad Licenses Expense 15,000.00
Utilities Expense 60,000.00 184,500.00
Net income 276,000.00
Floyd Greg
Salary Allowance 24,000.00 15,000.00 39,000.00
Interest 18,000.00 12,000.00 30,000.00
Remainder 4,500.00 3,000.00 7,500.00
46,500.00 30,000.00 76,500.00
*work backwards lang yan =))
Carl, Capital 95,000.00
Dana, Capital 95,000.00
Cash 190,000.00
Evita, Capital 16,000.00
Farida, Capital 24,000.00 TCC
Gene, Capital 230,000.00 0.2 Hanna 250,000.00
0.3 Isabel 300,000.00
0.5 Jay 150,000.00
Cash 200,000.00 Kaila 300,000.00
Kaila, Capital 135,000.00 1,000,000.00
Hanna, Capital 13,000.00
Isabel, Capital 19,500.00
Jay, Capital 32,500.00
Cash 150,000.00
Hanna, Capital 4,000.00
Isabel, Capital 6,000.00
Jay, Capital 10,000.00
Kaila, Capital 170,000.00
Cash 200,000.00
Kaila, Capital 162,000.00
Hanna, Capital 7,600.00
Isabel, Capital 11,400.00
Jay, Capitla 19,000.00
Cash 300,000.00
Hanna, Capital 10,000.00
Isabel, Capital 15,000.00
Jay, Capital 25,000.00
Kaila, Capital 350,000.00
Bonus TAC
(16,000.00) 264,000.00
(24,000.00) 196,000.00
40,000.00 230,000.00
690,000.00
Bonus TAC
(10,000.00) 240,000.00
(15,000.00) 285,000.00
(25,000.00) 125,000.00
50,000.00 350,000.00
1,000,000.00
Nadia Oscar
Capital Balances 250,000.00 100,000.00
Loss on Revaluation 24,000.00 16,000.00 40,000.00
Adjusted Capital Balances 226,000.00 84,000.00