The financial statements

To Accompany the System's Entries

1. Beginning Balance Statement
2. Trial Balance
3. Income Statement
4. Ending Balance Statement

BALANCE STATEMENT

Company: Colombian Industries		Date: June 30
Assets
Current
Cash on hand	250
Banks	2,500
Loans to Employees	180
Receivables	5,600
Inventory	10, 000
Short- term investments	- 0 -
Total Current Assets		18, 530 (a)
Fixed Assets
Investments	- 0 -
Machinery, equipment, tools, etc.	30,000
TOTAL ASSETS			48, 530 (1)
Liabilities
Current
Accounts Payable	5, 400
Current Obligations	12,000
Total Current Liabilities		17,400(b)
Long Term
Accumulated Social Benefits	3,100
Bank Obligations	- 0 -
Finance Obligations	20,000
Others	- 0 -
TOTAL LIABILITIES			40, 500 (2)
Capital
Beginning Capital	8,030
Profit/Loss previous years
Profit/Loss this year (P&L)
TOTAL CAPITAL			8,030 (3)
Working Capital		1,130 (c)
	1 - 2 = 3 = CAPITAL
	a - b = c = WORKING CAPITAL

TRIAL BALANCE

Company: Colombian Industries		Date: July 31
	COLUMN I		COLUMN II
Cash on hand	290
Banks	833
Loans to Employees	110
Receivables	19, 600
Inventory (previous month)	10,000
Investments	- 0 -
Fixed Assets	30,000
Depreciation			- 0 -
Accounts payable			15,783
Current Obligations			12,000
Accumulated Social Benefits			3,100
Bank Obligations			- 0 -
Finance Obligations			19,000
Other Obligations			- 0 -
Beginning Capital			8,030
Profit/Loss previous years	(Lose)		(Profit)
Profit/Loss this year	(Lose)		(Profit)
Sales			30,000
Coat of Sales	- 0 -
Purchases of Raw materials	16,000
Labor	3,800
Social Benefits	447
Personal Expenses	4,700
Other Expenses	1,800
Interest	333
Other Revenue or Expenses	- 0 -
TOTALS (Must be equal)	87,913		87,913

PROFIT AND LOSS STATEMENT

Company: Colombian Industries		Period: 1 - 31 of July
SALES			30 000
Less Coat of Sales			- - 0 -
NET SALES			30, 000 (1)
Coat of Goods Sold
Initial Inventory	10, 000
Plus: Purchases of Raw materials	+ 16,000
Subtotal	26, 000
Less: Final Inventory	- 6,000
Cost of Goods Sold	20,000		- 20,000(2)
+Marginal Utility [(1)-(2)]			10, 000(3)
Other Revenues & Expenses
Labor	3, 8 00
Social Benefits	447
Personal Expenses	4. 700
Other Expenses	1, 800
Interest	333
Other Revenue or expenses	- 0 -
Total Costs	11,080		- 11,080 (4)
++Profit			= = = = =
+++Loss			(1,080)
+ Net Sales less Coat of Goods Sold
(1) - (2) = Marginal Utility (3)
++ If marginal utility is greater than expenses
(3)- (4) = Profit
+++ If marginal utility is less than expenses
(4) - (3) = Loss

BALANCE SHEET

Company: Colombian Industries		Date: July 31
Assets
Current
Cash on hand	290
Banks	833
Loans to employees	110
Receivables	19, 600
Inventory	6,000
Short-term investments	- 0 -
Total Current Assets		26,833 (a)
Fixed Assets
Investments	- 0 -
Machinery, equipment, tools, etc.	30,000
TOTAL ASSETS			56,833(1)
Liabilities
Current
Accounts Payable	15,783
Current Obligations	12,000
Total Current Liabilities		27,783(b)
Long Term
Accumulated Social Benefits	3,100
Bank Obligations	- 0 -
Finance Obligations	19,000
Others	- 0 -
TOTAL LIABILITIES			49,883 (2)
Capital
Beginning Capital	8,030
Profit/Loss previous years
Profit/Loss this year (P&L).	(1,080)
TOTAL CAPITAL			6,950(3)
Working Capital		(950) (c)
	1 - 2 = 3 = CAPITAL
	a - b = c = WORKING CAPITAL