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Eyedropper Clinic: Accounting Equation: Current Assets Non Current Assets

The document shows the accounting equation for an eyedropper clinic over 15 transactions. It includes a balance sheet, income statement, and statement of owner's equity. The balance sheet shows current assets of €26,890, non-current assets of €130,508, current liabilities of €45,100, and non-current liabilities of €90,000. The income statement shows revenues of €52,000 and expenses of €46,760, resulting in taxable income of €4,298. The statement of owner's equity shows common stock of €18,000 and retained earnings of €4,298, for total owner's equity of €22,298.

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Sofía Margarita
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150 views

Eyedropper Clinic: Accounting Equation: Current Assets Non Current Assets

The document shows the accounting equation for an eyedropper clinic over 15 transactions. It includes a balance sheet, income statement, and statement of owner's equity. The balance sheet shows current assets of €26,890, non-current assets of €130,508, current liabilities of €45,100, and non-current liabilities of €90,000. The income statement shows revenues of €52,000 and expenses of €46,760, resulting in taxable income of €4,298. The statement of owner's equity shows common stock of €18,000 and retained earnings of €4,298, for total owner's equity of €22,298.

Uploaded by

Sofía Margarita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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EYEDROPPER CLINIC: ACCOUNTING EQUATION

CURRENT ASSETS NON CURRENT ASSETS

Transaction #
Accounts Accumulated Equipment &
Bank Consumables
Receivable Depreciation Machinery

Beg. Balance
1 € 18,000
2 -€ 6,000
3 -€ 7,000 € 35,000
4 € 21,890 € 30,000

5
6 -€ 1,000
7 -€ 15,000 € 15,000
8 -€ 1,200
9 -€ 6,500
10 € 5,700 -€ 6,000
11 -€ 7,500
12
13
14 -€ 200
-€ 292
15 -€ 13,500

Final Balance € 1,390 € 24,000 € 1,500 -€ 492 € 35,000

€ 26,890 € 130,508
NON CURR.
URRENT ASSETS CURRENT LIABILITIES OWNER'S EQUITY
LIAB.
Social
Interest Salaries Accounts Mortgage Common
Building Security
Payable Payable Payable Loan Stock
Payable

€ 18,000
€ 96,000 € 90,000
€ 28,000

€ 10,000

€ 800

€ 5,850
€ 450

€ 96,000 € 450 € 5,850 € 10,800 € 28,000 € 90,000 € 18,000

130,508 € 45,100 € 90,000 € 22,298


OWNER'S EQUITY

Retained Income
Earnings Statement

0
0
0
0
€ 52,000 0
-€ 110
-€ 10,000 0
-€ 1,000 0
0
-€ 2,000 0
-€ 6,500 0
-€ 300 0
-€ 7,500 0
-€ 5,850 0
-€ 450 0
-€ 200 0
-€ 292 0
-€ 13,500 0

€0 € 4,298 0
€ 4,298
€ 22,298 0
BALANCE SHEET
ASSETS LIABILITIES

Current Assets Current Liabilities


Cash & Bank € 1,390 Accounts Payable € 28,000
Consumables € 1,500 Salaries Payable € 10,800
Accounts Receivable € 24,000 Social Security Payable € 5,850
Total € 26,890 Interest Payable € 450
Total € 45,100
Non Current Assets
Building € 96,000 Non Current Liabilities
Equipment & Machinery € 35,000 Mortgage Loan € 90,000
Accumulated Depreciation -€ 492 Total € 90,000
Total € 130,508

Total Assets € 157,398 Total Liabilities & Equity ….....

INCOME STATEMENT
Services Revenues € 52,000

Operating Expenses:
Salaries -€ 19,500
Social Security -€ 5,850
Consumables -€ 13,500
Advertising -€ 1,000
Utilities -€ 6,500
Bank Comission -€ 110
Sales Discount -€ 300
Total Operating Expenses -€ 46,760

EBITDA € 5,240
Depreciation -€ 492
EBIT € 4,748
Interest -€ 450

Taxable Income € 4,298


EQUITY
Common Stock £18,000
Retained Earnings £4,298
Total £22,298

£157,398

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