Financial Performance
Income Statement
- Shows the performance of an entity
- Presents a summary of REVENUE and EXPENSES for a given period
- Assess potential changes in the economic resources
- Predicting the capacity of the enterprise to generate cash flows from its existing
resources base
Maica Consulting Office
Statement of Financial Performance
For the month ended January 31, 2021
Revenue
P 65,750
Less: Expenses
Salary Expense
5,358
Rent Expense
1,600
Supplies Expense
2,520
Insurance Expense
1,400
Advertising Expense
500
Telecommunication Expense
5,000
Utilities Expense
3,000
19,378
Operating Income
P 46,372
Post-Closing Trial Balance
- After poster adjustments and closing entries to the ledger accounts
- Verifies that all debits equals the credits in the trial balance
- Contains only assets, liabilities, and ending capital balance
Maica Consulting Office
Post-Closing Trial Bance
January 31, 2021
DR.
Accounts
Cash
Accounts
Receivable
Office Supplies
Prepaid Rent
Prepaid Insurance
Furniture and Fixture
Computer
Equipment
Accounts Payable
Salaries Payable
Unearned Fees
Maica, Capital
TOTAL
CR.
P 69,070
15,100
2,560
3,200
3,600
4,000
25,000
P122,530
P0
358
6,500
115,672
P 122,530
Notes to Financial
Statements
- IAS No. 1 Presentation of Financial Statements, a complete set of financial statements
includes:
- 1. Financial Position
- 2. Financial Performance
- 3. Statement of Changes in Equity
- 4. Statement of Cash Flows
- 5. Notes, comprising a summary of significant accounting policies and other
explanatory
TENKYUUUUU
GOD BLESS