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    Maynard Company

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    Nikitha Andrea Saldanha
    This document summarizes Maynard Company's statement of financial position as of June 1st and June 30th, as well as its income statement and retained earnings statement for June. Key details include an increase in retained earnings from $221,511 to $229,446 from the $19,635 profit in June. Total assets increased from $638,538 to $681,888, and total equity and liabilities increased from $638,358 to $681,888 over the month.

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    Maynard Company

    Uploaded by

    Nikitha Andrea Saldanha
    280 views5 pages
    This document summarizes Maynard Company's statement of financial position as of June 1st and June 30th, as well as its income statement and retained earnings statement for June. Key details include an increase in retained earnings from $221,511 to $229,446 from the $19,635 profit in June. Total assets increased from $638,538 to $681,888, and total equity and liabilities increased from $638,358 to $681,888 over the month.

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    This document summarizes Maynard Company's statement of financial position as of June 1st and June 30th, as well as its income statement and retained earnings statement for June. Key details include an increase in retained earnings from $221,511 to $229,446 from the $19,635 profit in June. Total assets increased from $638,538 to $681,888, and total equity and liabilities increased from $638,358 to $681,888 over the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    280 views5 pages

    Maynard Company

    Uploaded by

    Nikitha Andrea Saldanha
    This document summarizes Maynard Company's statement of financial position as of June 1st and June 30th, as well as its income statement and retained earnings statement for June. Key details include an increase in retained earnings from $221,511 to $229,446 from the $19,635 profit in June. Total assets increased from $638,538 to $681,888, and total equity and liabilities increased from $638,358 to $681,888 over the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Maynard

    Statement of Financial position as on 1 June


    EQUITY AND LIABILITIES ASSETS
    Shareholder's Funds Non-Current
    Owners Capital $ 390,000 Building $ 429,000
    Retained Earnings $ 221,511 Equipments $ 7,956
    $ 611,511 Land $ 89,700
    Liabilities Other $ 4,857 $ 531,513
    Non current liabilities Current
    other NCL $ 2,451 Account receivable $ 21,798
    Current Liabilities Note Receivable $ 11,700
    Accounts Payable $ 8,517 prepaid Insurance $ 3,150
    Accured wages Payable $ 1,794 Supplies on Hand $ 5,559
    Bank notes payables $ 8,385 Inventory $ 29,835
    Taxes Payable $ 5,700 Cash $ 34,983

    $ 26,847 $ 107,025
    GRAND TOTAL $ 638,358 $ 638,538
    Maynard
    Statement of Financial position as on 30 June
    EQUITY AND LIABILITIES ASSETS
    Shareholder's Funds Non-Current
    Owners Capital $ 390,000 Building $ 427,050
    Retained Earnings $ 229,446 Equipments $ 30,732
    $ 619,446 Land $ 89,700
    Liabilities Other $ 5,265
    Non current liabilities Current
    other NCL $ 2,451 Account receivable $ 26,505
    Current Liabilities Note Receivable $ -
    Accounts Payable $ 21,315 prepaid Insurance $ 2,826
    Accured wages Payable $ 2,202 Supplies on Hand $ 6,630
    Bank notes payables $ 29,250 Inventory $ 26,520
    Taxes Payable $ 7,224 Cash $ 66,660

    $ 62,442
    GRAND TOTAL $ 681,888
    S

    $ 552,747

    $ 129,141
    $ 681,888
    Maynard Company
    INCOME STATEMENT FOR JUNE
    S. No. Particulars Income Expense
    1 Sales/ Revenue $ 70,925
    2 COGS $ 39,345
    3 Gross Profit $ 31,580
    4 Wages $ 5,888
    5 Supplies $ 600
    6 Insurance $ 324
    7 Utilities $ 900
    8 Miscellaneous $ 135
    9 Operating Profit(EBITDA) $ 23,733
    10 Depriciation $ 2,574
    11 Income before Taxes(EBT) $ 21,159
    12 Taxes $ 1,524
    Net Profit $ 19,635
    STATEMENT OF RETAINED EARNINGS
    Opening Balance of Profit $ 221,511
    Profit in June $ 19,635
    Total Amount of Profit available for distribution $ 241,146
    Appropriation of profits (Dividends) $ 11,700
    Closing Balance (Retained Earnings) $ 229,446
    Dispensers of California
    CASH FLOW STATEMENT FOR THE END OF FIRST YEAR
    S. No. Particulars Amount
    A) Cash Flow from Operations
    1
    2
    3
    4
    5
    6
    7
    Total $ -
    B) Cash Flow from Investing
    1

    Total $ -
    C) Cash Flow from Financing

    Total $ -
    Grand Total $ -

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