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The document outlines a financial statement structure, including sections for capital, income, expenses, and various accounts such as notes receivable and accounts payable. It highlights the relationships between different financial elements, such as net income, gross income, and expenses, while also mentioning specific transactions like sales, purchases, and interest payments. Overall, it serves as a guide for organizing and reporting financial data effectively.

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Charity Pisalbo
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11 views1 page

Single Entry

The document outlines a financial statement structure, including sections for capital, income, expenses, and various accounts such as notes receivable and accounts payable. It highlights the relationships between different financial elements, such as net income, gross income, and expenses, while also mentioning specific transactions like sales, purchases, and interest payments. Overall, it serves as a guide for organizing and reporting financial data effectively.

Uploaded by

Charity Pisalbo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Capital, end N/R, end N/P, end Interest paid

Withdrawals A/R, end A/P, end Accrued interest payable, end


XXX Collection of A/R Payment of A/P XXX
(Capital, beg) Collection of N/R Payment of N/P (accrued interest payable, beg)
(Addi. Invest) Sales discounts Purchase disc. Interest Expense
Net Income Sales returns XXX
--------------------------------------- Accounts written-off-bad debts (N/P, beg) Rent received
RE, end XXX (A/P, beg) Unearned R/I, beg
Div. declared (N/R, beg) Purchase on account xxx XXX
Other items decrease RE (A/R, beg) Cash purchases Unearned R/I, end
XXX Sales on Account XXX Total Purchases Rent Income
(RE, beg) Cash Sales
Other items increase RE Total Sales
Net income Equipment, beg
Equipment acquired
N/R,
Sales
end N/P, end
XXX
A/R,
(Sales
end discounts) (N/P – bank)
(Equipment, end)
Collection
(Sales returns)
from customers N/P trade
(CA of equip sold if meron)
Note
Netreceivable
Sales discounted A/P – end
Depreciation
XXX Payment to Creditors
(N/R,
Inventory,
beg) beg XXX
(A/R,
Purchases
beg) (minus Discounts) (N/P, beg)
Sales
Sales
GAFSon Account (A/P, beg)
(Cost of Invest sold)
(Inventory, end) Purchase on account
(Investment, beg)
COGS
(Investment, end)
Loss on sale of investment
Rent Income
Gain on Sale
Total Other Income

INCOME STATEMENT Expenses paid


Prepaid ex, beg
Net sales Accrued expenses, end
COGS XXX
Gross Income (Prepaid expenses, end)
(If meron) Other Income (Accrued expenses, beg)
Total Income Expenses

Expenses: Interest accrued on bank N/P


Expenses (XXX x % x month/12)
Depreciation
Bad Debts FV of note discounted
Interest Expense (xxx) (Proceeds from discounting)
Net Income XXX Loss on Note discounting

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