How the Three Financial Statements Fit Together

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Transcript

hairy pussy chubby girls Nicely done! You’ve made it to the last video. And, by the way, don’t be put off by the busy-ness of this screen. You know all this stuff here: income statement, statement of cash flows, the balance sheet. What I’m going to do now is a very fast rattle through of all three of these, just to cover off all the work that you already know.

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source url Alright are you ready? Let’s get going. Oh one thing – by the way – you’ll see negative numbers don’t have a dash in front of them; they’re represented with brackets around them. Ok, ready go.

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ugly ginger nasty freaky anal slut This is for January for Acme Web Design. The income statement starts off with sales of $5,000 and a corresponding costs of goods sold of $1,000. We know to subtract the $1,000 from the $5,000 to get to $4,000. Then we have a bunch of expenses: general and and administrative $6,000 – that’s your rent, telecommunications costs, administrative costs, that type of thing; no research and development costs; we have sales and marketing – there was salary in there and a small campaign. Add all those up to get to $9,000.

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http://afcmarseille.com/porn/snooki-pussy-pics Then subtract $9,000 from $4,000 to get to ($5,000). That’s our fancily named subtotal: earnings before interest, taxes, depreciation and amortization or called EBITDA. We didn’t have no interest – we didn’t pay anything to the bank — and therefore our net income is a ($5,000) loss. That means we didn’t make any money here.

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watch That ($5,000) goes over to the top of the statement of cash flows. The $5,000 worth of sales wasn’t paid to us. Half of it instead went to accounts receivable ($2,500). When that happens it decreases the amount of cash available, therefore a negative number. But you can also see that it increases the accounts receivable showing on the balance sheet $2,500. But then, we didn’t pay some of the costs this month. That increased our accounts payable $1,000 and also increased the amount of cash that we have on hand. There’s our accounts payable down here $1,000.

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ariel winter dirty comments xxx So total cash from operations is ($6,500). We didn’t buy any equipment, we didn’t take out a loan, but the founder did put in $25,000 against common stock. Therefore, the total cash proceeds coming into the company this month is $18,500. That’s the total of this ($6,500) and this zero and this $25,000. Cash at the start of the period was zero. Therefore, cash at the end of the period was $18,500 and this starts off our balance sheet right here.

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sex tube hot We know what the accounts receivable is $2,500, therefore total current assets is $21,000. No equipment. There’s the accounts payable $1,000. Total current liabilities of $1,000. No long-term liabilities. Total overall liabilities of $1,000.

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http://afcmarseille.com/porn/porn-movie-names-funny There’s the common stock $25,000 sliding in here. Retained earnings is, as you know, the total of all the profits and losses since the company began. If you look down, you see a total of liabilities and equity of $21,000 which balances with the total assets of  $21,000. Our balance sheet balances – whew.

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pretty blonde pornstar We’re almost there. I just want to show you one more thing.

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http://afcmarseille.com/porn/biggest-white-dick-in-the-world-fucking-milf Ok, so what I’ve done here is added in another month. We’re going to go through the month of February and we’re going to do it very quickly.

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http://afcmarseille.com/porn/18-pussy-stetch Alright, sales of $7,000 is up from the previous month. Corresponding 20 per cent of cost of goods sold $1,400 leaves a total gross profit of $5,600. Expenses hasn’t changed, still $9,000 worth of expenses. $5,600 of gross profit minus the $9,000 of expenses equals the EBITDA of ($3,400). So we’re still losing money but not as badly, which is exactly what you want to see in a new company.

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what does it mean when you have pain during sex We did pay the bank $100 worth of interest and I’ll show you why in just a minute. ($3,400) minus $100 is equal to ($3,500) the loss for the month. And that starts off our statement of cash flows at the top ($3,500).

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amature suprise anal Ok, here’s a little trickiness. The $2,500 in accounts receivable last month got paid to us this month but we also then took half. This sales then went back into accounts receivable. The difference between the $2,500 from last month and the $3,500 from this month is $1,000. So accounts receivable went up by $1,000 as you can see here, which just reduces our cash.

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baseball yaoi xxx comic The accounts payable – we paid our bills from last month, then didn’t pay some of our bills from this month so accounts payable is still at $1,000 unchanged. Net cash from operations ($4,500). We bought some equipment and paid ($12,000) for it. We took out a loan from the bank for $10,000 of that. Common stock remains unchanged, therefore the total of cash flows from operations, investing and financing is equal to ($6,500). So, in the month $6,500 went out of the company. But we ended up last month with $18,500 and that starts off our balance sheet this month.

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www image xxx Therefore we still have $12,000 in the bank as you can see here ending off this month. There’s our total current assets $15,500. Long-term $12,000 equipment right here. So the total assets is $27,500.

follow url The equipment loan of $10,000 shows up right here in our balance sheet. That’s a liability – something that we have to pay back – so our total liabilities is $1,000 plus $10,000, which is equal to $11,000.

http://johanstellerphotography.com Common stock remains unchanged $25,000. Retained earnings, as you’ll recall, is the total of all of the profits and losses since the company began, which is ($8,500). And you can see at the bottom, the total of liabilities and owner’s equity is $27,500. So our balance sheet balances – perfect.

http://johanstellerphotography.com Well, you’ve been a great student and I’ve really appreciated that you’ve spent this time with me. Financial statements are an excellent tool to guide you to success. The best thing you can do is to hire a bookkeeper to do your financials every single month. Then meet with your accountant regularly, monthly or no less frequently than every three months. I wish you all the very best.