Computer Shop Case Study

Wasoy Internet Café

Balance Sheet

2014 | March | August |

Assets | | |

Current | | |

Cash | P473 | P946 |

Taxes Receivable | P4,361 | |

Prepaid Expenses | P10,000 | |

Equipment, Note | P264,579 | |

Liabilities | | |

Current | | |

Accounts payable and accrued liabilities | P11,523 | |

Advances from director | P5,000 | P5,000 |

| | |

Long term debt | -- | P9,259.00 |

| | P15,205 |

Proprietor’s Deficit | (138,198) | (124,098) |

Approved by the Proprietor :

Christine Tuy Realubit, Proprietor

Wasoy Internet Café

Statement of Income and Proprietor’s Deficit

For the year ended 2014 August March

Revenues:

Sales P90,000 START

P90,000

Expenses:

Technician fees P6,000.00

Rent Expense P15,000.00

Utilities Expenses P30,900

Salaries Expense P18,000.00

Repair and Maintenance P6,000.00

P75,900

Net Loss P14,100 P124,098

Proprietor’s deficit, beginning of the year P124,098.00 -

Proprietor’s deficit, end of year P138,198.00 P14,100

Wasoy Internet Café

Statement of Income Cash flow

For the year ended 2014 August March

Cash was provided by (used for):

Operating Activities

Net Loss ( P14,100) (P124,098)

Item not affecting cash:

Cash was provided by (used to finance) changes in

The following working capital items:

Taxes receivable P4,361

Prepaid Expenses P10,000

Accounts Payable and accrued liabilities P11,523

P25,884

P11,784 124,098

Financing Activities:

Advances from director P5,000

Repayment of long-term debt (P9,259) P9,259

P4,259 P133.357

Investing Activities:

Purchase of Equipment P1,398

Change in cash position Cash, beginning of year P946 P473

Wasoy Internet Cafe

Notes to...