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    MoJen ACC Pre Term

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    Huong Thu Ha
    MoJen Incorporated had a net loss of $6,600 in 2012 with no sales, as expenses exceeded the $0 in revenue. In 2013, MoJen had net income of $1,850 as $58,000 in sales exceeded costs of goods sold and expenses. MoJen's balance sheet from 2012 to 2013 shows an increase in assets from cash provided by issuing $200,000 in common stock, while liabilities and retained earnings decreased. MoJen's cash flow statement shows it used cash for operating expenses, license acquisition, and property/equipment purchases in 2012-2013.

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    MoJen ACC Pre Term

    Uploaded by

    Huong Thu Ha
    850 views8 pages
    MoJen Incorporated had a net loss of $6,600 in 2012 with no sales, as expenses exceeded the $0 in revenue. In 2013, MoJen had net income of $1,850 as $58,000 in sales exceeded costs of goods sold and expenses. MoJen's balance sheet from 2012 to 2013 shows an increase in assets from cash provided by issuing $200,000 in common stock, while liabilities and retained earnings decreased. MoJen's cash flow statement shows it used cash for operating expenses, license acquisition, and property/equipment purchases in 2012-2013.

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    MoJen Incorporated had a net loss of $6,600 in 2012 with no sales, as expenses exceeded the $0 in revenue. In 2013, MoJen had net income of $1,850 as $58,000 in sales exceeded costs of goods sold and expenses. MoJen's balance sheet from 2012 to 2013 shows an increase in assets from cash provided by issuing $200,000 in common stock, while liabilities and retained earnings decreased. MoJen's cash flow statement shows it used cash for operating expenses, license acquisition, and property/equipment purchases in 2012-2013.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    850 views8 pages

    MoJen ACC Pre Term

    Uploaded by

    Huong Thu Ha
    MoJen Incorporated had a net loss of $6,600 in 2012 with no sales, as expenses exceeded the $0 in revenue. In 2013, MoJen had net income of $1,850 as $58,000 in sales exceeded costs of goods sold and expenses. MoJen's balance sheet from 2012 to 2013 shows an increase in assets from cash provided by issuing $200,000 in common stock, while liabilities and retained earnings decreased. MoJen's cash flow statement shows it used cash for operating expenses, license acquisition, and property/equipment purchases in 2012-2013.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 8

    Huong (Jane) Ha

    Sales $0
    Expenses: Rent 3,600
    Salary 3,000
    6,600
    Net Income ($6,600)
    Sales $58,000
    Expenses:
    COGS 16,550
    Salary 18,000
    Rent 21,600
    56,150
    MoJen Incorporated
    Income Statement for Fiscal Year Ended December 31, 2012
    MoJen Incorporated
    Income Statement for Fiscal Year Ended December 31, 2013
    Net Income $1,850
    Common Stock
    Liabilities
    Accounts Payable
    Liabilities
    Owners' Equity
    Common Stock
    Retained Earnings
    Owners' Equity
    MoJen Incorporated
    Balance Sheet as of December 31, 2012
    License 30,000
    Retained Earnings
    Total $193,400 Total
    Assets: Liabilities & Owners Equity:
    Cash $157,400.00
    Inventory 6,000
    MoJen Incorporated
    Balance Sheet as of December 31, 2013
    Assets: Liabilities & Owners Equity:
    Cash $103,640
    Accounts Receivable 40,000
    Inventory 1,360
    PP&E 22,000
    License 30,000
    Total Total $197,000
    MoJen Incorporated
    Balance Sheet as of December 31, 2012
    ($6,600) Retained Earnings
    $193,400 Total
    Liabilities & Owners Equity:
    $200,000
    MoJen Incorporated
    Balance Sheet as of December 31, 2013
    Liabilities & Owners Equity:
    $3,750
    3,750
    200,000
    (6,750)
    193,250
    $197,000
    Cash Received from Customers $0
    Cash Paid for
    Office rental (3,600)
    Salary expense (3,000)
    Inventory purchase (6,000)
    Cash from Operations ($12,600)
    Cash from Investing
    Cash paid for License Acquisition (30,000)
    Net Cash Used in Investing ($30,000)
    Cash from Financing:
    Cash receipt from Issuance of Stock 200,000
    Net Financing Provided $200,000
    Increase (Decrease) in Cash 157,400
    Cash Beginning of the Year -
    Cash End of the Year $157,400
    Cash Received from Customers $18,000
    Cash Paid for
    Office rental (21,600)
    Salary expense (18,000)
    MoJen Incorporated
    Statement of Cash Flows for Fiscal Year Ended December 31, 2012
    MoJen Incorporated
    Statement of Cash Flows for Fiscal Year Ended December 31, 2013
    Inventory purchase (8,160)
    Cash from Operations ($29,760)
    Cash from Investing
    Cash paid for Purchase of PP&E (22,000)
    Net Cash Used in Investing ($22,000)
    Cash from Financing:
    Cash paid for Dividends (2,000)
    Net Financing Provided (2,000)
    Increase (Decrease) in Cash ($53,760)
    Cash Beginning of the Year $157,400
    Cash End of the Year $103,640

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