Proyecto de Ingles Completo

Universidad Tcnica de
Machala
Academic Unit of Business Sciences
Accounting and Auditing
Technical English
ENGLISH PROJECT
Authors:
Julissa Alexandra Barros
Elizalde
Estefania Raquel Prez Velez
Erwin Marlon Quintero
Qionez
Morelia Carolina Ramirez
Len
Jessica Andrea Sanmartin
Cedillo
Teacher:
Lcda. Sandy Soto Armijos
Class:
Evening fifth level B
Machala El Oro Ecuador
2015-2016
INTRODUCTION
ACCOUNTING ADVISING UNDER IFRS (A.A.U.IFRS) It is an accounting office,
whose members have extensive individual experience as accountants or consultants
nationally recognized companies. We are dedicated to providing personalized audit,
accounting, and consulting services, providing timely work quality and efficiency to meet
the needs of our customers and contribute to the generation of added value that our
customers need.
Our main services include:
Development computerized accounting.
Preparation and submission of monthly reports of sales and purchases.
Preparation and submission of monthly reports on payrolls of their workers.
Preparation and submission of monthly reports of income, deductions and
withdrawals from their purchases and sales.
Preparation and submission of monthly or semi-annual statements.
Preparation of financial statements of your company
Our audit and accounting firm integrates five members and is located in the city of
Machala in Junin and Rocafuerte first east.
NAME OF OUR ACCOUNTING OFFICE:
ACCOUNTING ADVISING
UNDER IFRS (A.A.U.IFRS.)
Accounting
Advising Under
IFRS/NIFF
LIST THE RESPONSIBILITIES:
RAQUEL PREZ VELEZ

Introduction
Source Documents
Vocabulary
ERWIN QUINTERO QUIONEZ
Balance Sheet Initial

Accounting Journal
JULISSA BARROS ELIZALDE

General Ledger
Sales report
MORELIA CAROLINA RAMREZ
Trial balance
Income Statement
JESSICA SANMARTIN CEDILLO
Balance Sheet
Cash Flow
Calculations
We account for the company:
PAPER TRAIL
OFFICE
SUPPLIES S.A
DEDICATED:
BUYING AND SELLING OFFICE SUPPLIES.
TAXPAYER ID:
0796558756001
ADDRESS:
JUNIN AND ROCAFUERTE FIRST EAST

PHONE:
928250
TRANSACTION
S
1. The Trading Company PAPER TRAIL OFFICE SUPPLIES S.A with tax payer. N
0796558756001 started operations in October, 1st , 2015 with the next Balance Sheet
#1:
PAPER TRAIL OFFICE SUPPLIES S.A

Banlance Sheet Initial
To the 31 of December, 2015
ASSETS
CURRENT ASSETS
Cash-Bank
Accounts receivable
Provision for uncollectible accounts
Merchandise Inventory
NON-CURRENT ASSETS
Lands
Buildings
Computing Equipment
Office Formiture
Vehicle
Accumulated Depreciation
TOTAL ASSETS
LIABILITIES
CURRENT LIABILITIES
Accounts Payable (Providers)
Payrolls Payable
IESS Payable
Commissions Payable
Income tax Payable
NOT CURRENT LIABILITIES
Bank Loan
TOTAL LIABILITIES
OWNERS EQUITY
Capital
19.980,00
5.000,00
2.000,00
- 20,00
13.000,00
52.800,00
10.000,00
20.000,00
2.800,00
1.000,00
30.000,00
- 11.000,00
72.780,00
14.100,00
8.500,00
1.000,00
600,00
500,00
3.500,00
10.000,00
10.000,00
24.100,00
38.680,00
Legal Reserve
Retained earnings
TOTAL OWNER EQUITY
2000,00
8000,00
48.680,00
TOTAL LIABILITIES + OWNERS

EQUITY
_______________________
72.780,00
_______________________
2. October, 5 Purchased to MEGAMANAGER

OFFICE SUPPLY, S.A wit Tax Payer N
ACCOUNTANT
0793245647001 the next merchandise and canceled with check # 001-001-00455:
600 Paper Clips a $0,03 either one.
50 Stapler a $18,00 either one.
6 Desk Lamp $30,00 either one.
75 Note Pad $4,00 either one.
15 Cubicle Divider $ 130,00 either one.
10 File Cabinet $90,00 either one.
3. October, 18 Selled in cash the 60% and 40% accounts receivable to period of 30
days to Juan Perez (Natural Person Required to keep accounting) with Tax Payer N
0704142356001, the next:
10 desk lamp a $35,00 either one and
5 Cubicle divider $ 150,00 either one
Note: In this sell we must consider that the Price of product include VAT.
4. October, 28 realiced to the company Ramirez S.A, with Tax Payer N
0796520310001 the next sell in cash:
8 Dry Eraser a $ 3,00 either one, plus VAT.
12 Binder a $ 1,50 either one, plus VAT.
5. October, 31 canceled with check # 001-001-00-456 the salary of the month:
N
1
2
3
4
5
6
7
NAMES
Mario Flores Len

Wilson Barzallo Espinoza
Ana Cedeo Ramrez
Alex Andrade Bueno
Diego Aucay Salazar
Javier Len Balcazar
Monica Fajardo Bermeo
CHARTER
0706235689
0102035678
0104765324
0702328326
0104356789
0701349977
0702348976
CHARGE
Accountant
Administrator
Secretary
Head of sales
Selling 1
Selling 2
Assistant service
WORK
S
DAYS
30
30
30
30
30
30
30
Note: We must consider the extraordinary hours, overtime, the advances and fees.
SALARY
1.300,00
1.500,00
354,00
720,00
354,00
354,00
354,00
The Accountant: 2 extraordinary hours and 3 overtime.

The Administrator: 3 extraordinary hours.
The Head of sales: 2 Overtime hours.
The Mr Javier Len B. : have a fee of $ 50,00
The Head of sales gain 0,80% of sales of the month and the sellers gain of
comisin 1%.
6. November, 10 Canceled the first share of Bank Loan.

7. November, 22 Canceled $800,00 of Advertising of the company with cash.
8. December, 10 Canceled the second share of Bank Loan and the interest.
9. December 19 Realiced anual Depreciation expense:
DESCRIPTION
Computing Equipment
Land
Office Fornitures
Vehicles
NUMBE
R
2
1
1
1
PRICE
EITHER
ONE
1.400,00
20.000,00
1.000,00
30.000,00
RESIDUAL
VALUE
200,00
2.400,00
100,00
5.000,00
YEARS
USEFUL
LIFE
4
22
10
5
10. December, 21 The members agree distributed the 70% of the retained earnings.
11. December, 27 Canceled in cash the Basic Services for the month of October and
November $ 300,00. ( CASH)
Its asked:
Prepare the accounting proccess and all balances of the company.
ACCOUNTING
DOCUMENTS
BALANCE
SHEET INITIAL

Balance Sheet Initial
To the 31 of December, 2015
ASSETS
CURRENT ASSETS
Bank
Cash
Accounts receivable
NON-CURRENT ASSETS
Lands
Buildings
Computing Equipment
Office Formiture
Vehicle
TOTAL ASSETS
LIABILITIES
CURRENT LIABILITIES
Payrolls Payable
IESS Payable
Commissions Payable
Income tax Payable
23.980,00
12.000,00
8.000,00
2.000,00
- 20,00
2.000,00
48.800,00
10.000,00
20.000,00
2.800,00
1.000,00
22.000,00
- 7.000,00
______72.780,00____
14.100,00
8.500,00
1.000,00
600,00
500,00
3.500,00
NOT CURRENT LIABILITIES

Bank Loan
TOTAL LIABILITIES
10.000,00
OWNERS EQUITY
Capital
Legal Reserve
Retained earnings
TOTAL OWNER EQUITY
38.680,00
2000,00
8000,00
TOTAL LIABILITIES + OWNERS

EQUITY
10.000,00
24.100,00
48.680,00
72.780,00
_______________________
____________________
MANAGER
ACCOUNTANT
ACCOUNTING
JOURNAL

TAXPAYER ID #: 0796558756001
OCTOBER 01 TO DECEMBER 31, 2015
DATE
DETAIL
October, 1
-1Bank
Cash
Accounts receivable
Lands
Buildings
Computing Equipment
Office Formiture
Vehicle
October, 5
October,
18
Payrolls Payable
IESS Payable
Commissions Payable
Income tax Payable
Bank Loan
Capital
Legal Reserve
Retained earnings
To register its initial situation
-2PURCHASE
Purchase rate 12%
VAT PAID
OBLIGATIONS WITH THE TAX
ADMINISTRATION
Income tax withholding
BANK
Bank of Machala
To register Purchased to Mega Office Supply.
-3-
PARTIAL
5.000,00
2.000,00
- 20,00
13.000,0
0
10.000,00
20.000,00
2.800,00
1.000,00
30.000,00
11.000,0
0
FOLIO N 1
DEBIT
HAVINGS
12.000,00
8.000,00
2.000,00
( 20,00)
2.000,0
0
10.000,00
20.000,00
2.800,00
1.000,00
22.000,00
( 7.000,
00)
8.500,00
1.000,00
600,00
500,00
3.500,00
10.000,00
38.680,00
2000,00
8000,00
4.248,00
4.248,00
509,76
42,48
42,48
4.715,28
4.715,28
CASH
BILL OF EXCHANGE
ADMINISTRATION
9,82
SALE
Sale rate 12%
982,14
VAT PAID
Vat paid rate 12%
117,86
To register Salled to Juan Prez
PASS
TAXPAYER ID #: 0796558756001
DATE
DETAIL
PARTIAL
COME
October, 28
654,11
436,07
9,82
982,14
117,86
78.637,76
78.637,76
FOLIO N 2
DEBIT
78.637,76
HAVINGS
78.637,76
-4-
CASH
ADMINISTRATION
SALE
Sale rate 12%
VAT PAID
Vat paid rate 12%
To register selled to Company RAMIREZ S.A
October, 31
-5PRODUCTION PAYROLL
INCOME
Salaries Payable
Extra Hours
Overtimes
Commissions
REVENUES
Employees Contribution to IESS 9,45%
Advance
Income tax
SOCIAL BENEFITS PAYABLE
XIII Salary
XIV Salary
Holidays
Reserve fund
Employer contribution
BANK
Bank of Machala
To register Payroll and table of provisions.
November,
-6-
46,62
0,42
0,42
42,00
42,00
5,04
5,04
4.452,84
5.067,47
4936,00
59,17
33,39
38,91
(614,63)
478,88
50,00
85,75
8.514,16
3.968,02
465,63
689,83
1.379,13
2.011,55
12.967,00
12.967,00
10
BANK LOAN
INTEREST
CASH
To register payment the first share of Bank
Loan.
November,
22
833,33
116.67
950,00
-7ADVERTISING
CASH
To register payment of Advertising of the
company.
PASS
800,00
800,00
93.401,80

TAXPAYER ID #: 0796558756001
DATE
DETAIL
PARTIAL
COME
December,
10
December,
21
December,
27
FOLIO N 3
DEBIT
93.401,80
HAVINGS
93.401,80
-8BANK LOAN
INTEREST
CASH
To register payment the second share of Bank
Loan.
December,
19
93.401,80
-9DEPRECIATION OF PPyE
Computing Equipment
Land
Oficce fornitures
Vehicles
ACCUMULATED DEPRECIATION OF
PPyE.
To register anual Depreciation of PPy E.
-10RETAINED EARNINGS
Shareholders
CASH
To register distributed of the retained
earnings.
-11BASIC SERVICES
CASH
To register payment the Basic Services for the
month of October and November
833,33
106,94
940,27
6.200,00
300,00
800,00
100,00
5.000,00
6.200,00
5.600,00
5.600,00
5.600,00
300,00
300,00
106.442,0
7
TOTAL
_______________________
___________________
MANAGER
ACCOUNTANT
GENERAL
LEDGER
106.442,0
7

GENERAL LEDGER
ACCOUNT: BANK
DATE
October,
1
October,
5
October,
31
DETAIL
REFERE
NCE
DEBIT
$
12.000,00
To register Purchased to Mega

Office Supply.
To register Payroll and table of
provisions.
CREDIT
$ 12.967,00
$
12.000,00
TOTAL
BALANCE
$
12.000,00
$
7.284,72
$
(5.682,28)
4.715,28
$
(5.682,28)
17.682,28

GENERAL LEDGER
ACCOUNT: Accounts receivable

DATE
DETAIL
REFERENC
E
October,
1
DEBIT
$
2.000,00
BALANCE
CREDIT
$
2.000,00
TOTAL
2.000,00
$
-
2.000,00

GENERAL LEDGER
ACCOUNT: Provision for uncollectible accounts

DATE
DETAIL
REFERENC
E
October,
1
To register its initial

situation
TOTAL
DEBIT
$
BALANCE
CREDIT
20,00
20,00
$
-
20,00
20,00

GENERAL LEDGER
ACCOUNT: Merchandise Inventory

DATE
DETAIL
REFERENC
E
October,
1
DEBIT
$
2.000,00
BALANCE
CREDIT
$
2.000,00
TOTAL
2.000,00
$
-
2.000,00

GENERAL LEDGER
ACCOUNT: Lands
DATE
DETAIL
REFERENC
E
October,
1
TOTAL
DEBIT
$
10.000,00
10.000,00
BALANCE
CREDIT
$
-
10.000,00
10.000,00

GENERAL LEDGER
ACCOUNT: Buildings
DATE
DETAIL
REFERENC
E
October,
1
DEBIT
$
20.000,00
BALANCE
CREDIT
$
20.000,00
TOTAL
$
-
20.000,00
20.000,00

GENERAL LEDGER
ACCOUNT: Computing Equipment

DATE
DETAIL
REFERENC
E
October,
1
TOTAL
DEBIT
$
2.800,00
2.800,00

GENERAL LEDGER
ACCOUNT: Office Formiture
BALANCE
CREDIT
$
$
-
2.800,00
2.800,00
DATE
DETAIL
REFERENC
E
October,
1
TOTAL
DEBIT
$
1.000,00
1.000,00
BALANCE
CREDIT
$
$
-
1.000,00
1.000,00

GENERAL LEDGER
ACCOUNT: Vehicle
DATE
DETAIL
REFERENC
E
October,
1
TOTAL
DEBIT
$
BALANCE
CREDIT
22.000,00
22.000,00

GENERAL LEDGER
$
-
22.000,00
22.000,00
ACCOUNT: Accumulated Depreciation

DATE
DETAIL
REFEREN
CE
DEBIT
October, 1
$
7.000,00
December,
19
To register anual Depreciation of

PPy E.
7.000,00
$
6.200,00
800,00
$
6.200,00
800,00
$
7.000,00
TOTAL
BALANCE
CREDIT

GENERAL LEDGER
ACCOUNT: Accounts Payable (Providers)

DATE
October,
1
DETAIL
situation
TOTAL
REFERENC
E
DEBIT
$
-
BALANCE
CREDIT
8.500,00
8.500,00
8.500,00
8.500,00

GENERAL LEDGER
ACCOUNT: Payrolls Payable

DATE
October,
1
DETAIL
situation
REFERENC
E
DEBIT
$
-
TOTAL
BALANCE
CREDIT
1.000,00
1.000,00
1.000,00
1.000,00

GENERAL LEDGER
ACCOUNT: IESS Payable

DATE
October,
1
DETAIL
situation
REFERENC
E
1
DEBIT
BALANCE
CREDIT
$
600,00
600,00
$
-
TOTAL
$
600,00
$
600,00

GENERAL LEDGER
ACCOUNT: Commissions Payable

DATE
October,
1
REFERENC
E
DETAIL
situation
DEBIT
$
-
TOTAL
BALANCE
CREDIT
500,00
$
500,00
500,00
$
500,00

GENERAL LEDGER
ACCOUNT: Income tax Payable

DATE
October,
1
DETAIL
situation
REFERENC
E
1
DEBIT
BALANCE
CREDIT
$
3.500,00
3.500,00
$
-
TOTAL
3.500,00
3.500,00

GENERAL LEDGER
ACCOUNT:Bank Loan
DATE
October,
1
November,
10
December,
10
REFERE
NCE
DETAIL
DEBIT
$
10.000,00

To register payment the first share of
Bank Loan.
To register payment the second share of
Bank Loan.
$
10.000,00
$
9.166,67
$
8.333,34
$
833,33
$
833,33
$
1.666,66
TOTAL
BALANCE
CREDIT
$
10.000,00
$
8.333,34

GENERAL LEDGER
ACCOUNT: Capital
DATE
October,
DETAIL
REFERENC
E
1
DEBIT
BALANCE
CREDIT
$
38.680,00
38.680,00
situation
$
-
TOTAL
38.680,00
38.680,00

GENERAL LEDGER
ACCOUNT: Legal Reserve

DATE
October,
1
REFERENC
E
DETAIL
situation
DEBIT
$
-
TOTAL
2.000,00
2.000,00

GENERAL LEDGER
ACCOUNT: Retained earnings
BALANCE
CREDIT
$
2.000,00
2.000,00
DATE
REFEREN
CE
DETAIL
October, 1
December,
21

To register distributed of the retained
earnings.
DEBIT
CREDIT
$
8.000,00
1
10
TOTAL
BALANCE
$
8.000,00
$
5.600,00
$
2.400,00
$ $
5.600,00 8.000,00
$
2.400,00

GENERAL LEDGER
ACCOUNT: PURCHASE
DATE
October,
5
REFEREN
CE
DETAIL
To register Purchased to Mega Office
Supply.
TOTAL
DEBIT
CREDIT
$
4.248,00
$
4.248,00

GENERAL LEDGER
BALANCE
$
4.248,00
$
-
$
4.248,00
ACCOUNT: VAT CHARGED

DATE
October,
18
October,
28
REFEREN
CE
DETAIL
DEBIT
BALANCE
CREDIT
$
117,86
To register selled to Company RAMIREZ

S.A
$
5,04
$
-
TOTAL
$
117,86
$
122,90
$
122,90
$
122,90

GENERAL LEDGER
ACCOUNT:
DATE
October,
5
October,
18
October,
28
OBLIGATIONS WITH THE TAX ADMINISTRATION

DETAIL
REFEREN
CE

Supply.

S.A
DEBIT
BALANCE
CREDIT
$
42,48
$
9,82
$
0,42
$
42,48
$
32,66
$
32,24
TOTAL
$ $
42,48
10,24
$
32,24

GENERAL LEDGER
ACCOUNT:
DATE
October, 1
CASH
REFERE
NCE
DETAIL
October,
18
October, 28
To register selled to Company

RAMIREZ S.A
November,
10
November,
22
December,1
0
To register payment the first share of

Bank Loan.
company.
To register payment the second share of
Bank Loan.
December, To register distributed of the retained
earnings.
21
December, To register payment the Basic Services for
the month of October and November
27
TOTAL
DEBIT
CREDIT
$
8.000,00
$
8.654,11
$
8.700,73
$
8.000,00
$
654,11
$
46,62
$
$
950,00
$
800,00
$
940,27
$
5.600,00
$
300,00
6
7
8
10
11
$
8.700,73

GENERAL LEDGER
BALANCE
$
8.590,27
7.750,73
$
6.950,73
$
6.010,46
$
410,46
$
110,46
$
110,46
ACCOUNT: BILL OF EXCHANGE

DATE
DETAIL
October, 18 To register Salled to Juan Prez
REFERE
NCE
DEBIT
BALANCE
$
436,07
3
$
436,07
TOTAL
CREDIT
$
436,07
$
-
$
436,07

GENERAL LEDGER
ACCOUNT: SALE
DATE
October,
18
October,
28
REFEREN
CE
DETAIL

S.A
DEBIT
$
982,14
$
42,00
$
-
TOTAL

GENERAL LEDGER
ACCOUNT:
PRODUCTION PAYROLL
CREDIT
$
1.024,14
BALANCE
$
982,14
$
1.024,14
$
1.024,14
DATE
October,
31
REFEREN
CE
DETAIL
To register Payroll and table of
provisions.
DEBIT
$
4.452,84
$
4.452,84
TOTAL
BALANCE
CREDIT
$
$
4.452,84
$
-
$
4.452,84

GENERAL LEDGER
ACCOUNT: SOCIAL BENEFITS PAYABLE

DATE
October, 31
DETAIL
To register Payroll and table of provisions.
TOTAL
REFERENCE
DEBIT
8.514,16
8.514,16

GENERAL LEDGER
ACCOUNT: INTEREST
BALANCE
CREDIT
$
8.514,16
8.514,16
DATE
November,
10
December,1
0
DETAIL
To register payment the first share of Bank
Loan.
To register payment the second share of Bank
Loan.
REFEREN
CE
DEBIT
116,67
106,94
$
223,61
TOTAL
CREDIT
BALANCE
$
116,67
$
223,61
$
-
$
223,61

GENERAL LEDGER
ACCOUNT: ADVERTISING
DATE
November,
22
DETAIL
company.
TOTAL
REFEREN
CE
7
DEBIT
$
$
800,00
CREDIT
BALANCE
$
800,00
800,00
$
-
$
800,00

GENERAL LEDGER
ACCOUNT: VAT PAID

DATE
October,
5
DETAIL
REFEREN
CE

Supply.
DEBIT
BALANCE
CREDIT
$
509,76
$
509,76
TOTAL
$
509,76
$
-
$
509,76

GENERAL LEDGER
ACCOUNT: DEPRECIATION OF PPyE

DATE
December,
19
DETAIL
REFERENC
E
To register anual Depreciation of PPy

E.
TOTAL
DEBIT
$
$
6.200,00
BALANCE
CREDIT
6.200,00
$
-
$
6.200,00
6.200,00

GENERAL LEDGER
ACCOUNT: BASIC SERVICES

DATE
December,
27
DETAIL
To register payment the Basic
Services for the month of October
and November
TOTAL
REFEREN
CE
11
DEBIT
$
$
300,00
BALANCE
CREDIT
300,00
$
-
$
300,00
300,00
MANAGER
ACCOUNTANT
SALES REPORT

TAXPAYER ID #: 0796558756001
SALES REPORT
FROM JANUARY 01 TO DECEMBER 31, 2015
SALES REPORT
60,000.00
50,000.00
40,000.00
30,000.00
20,000.00
10,000.00
0.00
"OFFICE PAPER TRAIL" S.A made business sales report of 2015, with the following
details
January sales decreased due to previous editions. In February and March in the
region Costa is the beginning of the school year in schools and colleges; Therefore,
sales of school supplies increased.
Classes begin in April, therefore, sales of school supplies continued to increase and
therefore in sales in May and June to find sales stabilized.
In July and August sales, profits fell sharply due to goods detained by customs. In
September and October sales decreased due to the regeneration of the local streets
where they are located.
In November and December sales increased due to the season reasonably start
classes in the Sierra region.
MANAGER
ACCOUNTANT
TRIAL
BALANCE

TAXPAYER ID #: 0796558756001
TRIAL BALANCE
N
DETAIL
Bank
Cash
DEBIT
12.000,00
8.700,73
Accounts receivable
Provision for uncollectible

accounts
(20,00)
Lands
Buildings
Computing Equipment
9
1
0
1
1
1
2
1
3
1
4
1
5
1
6
1
7
1
8
1
9
2
0
2
1
2
2
2
3
18.000,00
20.000,00
IESS Payable
Commissions Payable
Capital
Legal Reserve
Retained earnings
Purchase
7.000,00
Payable
Payrolls Payable
Bank Loan
1.800,00
1.000,00
Vehicle
Income tax Payable
2.000,00
10.000,00
Office Formiture
Accounts
(Providers)
2.000,00
1.666,66
5.600,00
2.658,00
SUMS
HAVINGS
$
17.682,00
$
8.590,27
$
$
$
$
$
$
$
$
$
6.200,00
$
8.500,00
$
1.000,00
$
600,00
$
500,00
$
3.500,00
$
10.000,00
$
38.680,00
$
2.000,00
$
8.000,00
$
-
$
5.682,00
$
110,46
$
2.000,00
$
(20,00)
$
2.000,00
$
10.000,00
$
18.000,00
$
1.800,00
$
1.000,00
$
20.000,00
$
800,00
$
8.500,00
$
1.000,00
$
600,00
$
500,00
$
3.500,00
$
8.333,34
$
38.680,00
$
2.000,00
$
2.400,00
$
2.658,00
VAT charged
VAT paid
BALANCES
DEBIT
CREDIT
122,90
$
509,76
122,90
$
$
509,76
2
4
2
5
2
6
2
7
2
8
2
9
3
0
3
2
Obligations with the tax

administration (1%)
10,24
Bill of exchange
$
436,07
-
Production Payroll
Social Benefits payable
32,52
$
Sale
42,76
$
436,07
$
1.024,14
1.024,14
$
3.642,84
$
3.642,84
$
8.214,16
$
8.514,16
Interest
123,61
Advertising
Basic Services
TOTAL
$
123,61
$
800,00
$
800,00
$
$
$
300,00
300,00
$
$
$
$
106.442,07 106.442,07 72.674,90 72.374,90
MANAGER
ACCOUNTANT
INCOME
STATEMENTS

TAXPAYER ID #: 0796558756001
INCOME STATEMENTS
MANAGER
ACCOUNTANT
BALANCE
SHEET

TAXPAYER ID #: 0796558756001
BALANCE SHEET
FOLIO N_____01_____
MANAGER
ACCOUNTANT
CASH FLOW
STATEMENT

TAXPAYER ID #: 0796558756001
CASH FLOW STATEMENTS
CASH FLOW FROM OPERATIONS
CASH GENERATED FROM SALES
100.000,00
PAYMENTS TO SUPPLIERS AND EMPLOYEES
(50.000,00)
PAYMENTS ON DEBTS
(10.000,00)
PAYMENT ON TAXES
(7.000,00)
NET
CASH
ACTIVITIES
FLOW
FROM
OPERATING
33.000,00
CASH FLOW FROM INVESTING

PAYMENTS FOR NEW INVESTMENTS
DIVIDENDS RECEIVED
(7.000,00)
4.000,00
NET CASH FLOW FROM INVESTING
(3.000,00)
CASH FLOW FROM FINANCING

DEBT INCREASES
DIVIDENDS PAID TO STOCKHOLDERS
4.000,00
(8.000,00)
NET CASH FLOW FROM FINANCING ACTIVITIES
(4.000,00)
NET CASH FLOW
3.000,00
300000,00
CASH BALANCE, BEGINNING OF YEAR

330000,00
CASH BALANCE, END OF YEAR
MANAGER
ACCOUNTANT
CALCULATIONS
CALCULATIONS
OCTOBER, 5
600 * 0,03 =
18,00
50 * 18,00 = 900,00
6 * 30,00 = 180,00
75 * 4,00 = 300,00
15 *130,00= 1950,00
10 * 90,00 = 900,00
4248,00
+ 509,76
Purchase rate 12%

V.A.T. 12%
4757,76
-
42,48
- 4715,28

Bank
OCTOBER, 18
10 * 35,00 = 350,00
5 * 150,00 = 750,00
982,14
+ 117,86
Sale (Mr . Juan Prez)

V.A.T. 12%
1100,00
-
9,82 Income tax withholding
1090,18
60% = 654,11 Cash

40% = 436,07 Accounts receivable
OCTOBER, 28
8 * 3,00 = 24,00
12 * 1,50 = 18,00
42,00
+
Sale (Ramirez Company)
5,04
47,04
0,42
46,62

Cash
OCTOBER, 31
CHARGE
HOURS
ACCOUNTANT
2 EXTRAORDINARY
3 OVERTIME
ADMINISTRATOR
3 EXTRAORDINARY
HEAD OF SALES
2 OVERTIME
Accountant
1300,00 / 240 = 5,42 * 2 = 10,83
x 2
21,67 EXTRAORDINARY
1300,00 / 240 = 5,42 * 1,5 = 8,13
x
24,39 OVERTIME
Administrator
1500,00 / 240 = 6,25 * 2 = 12,50
x
37,50 EXTRAORDINARY
Head of Sales
720,00 / 240 = 3 * 1,5 = 4,50
x 2
9,00 OVERTIME
Commissions
Head of Sales 0,80 %= 8,19
1024,14
Selling 1% = 10,24
Income tax
Mario Flores Len (accountant)

1346,06 x 12= 16.152,72 - 13.770,00= 2.382,72 x 10%=238,27 + 149,00= 387,20/12=
32,27
Wilson Barzallo Espinoza ( Administrator)
1537,50 x 12= 18.450,00 17.210,00 = 1.240,00 x 12% = 148,80 + 493,00 = 641,80/12=

53,48
NOVEMBER, 10 Canceled the first share of Bank Loan.
NOVEMBER, 22 Canceled $800,00 of Advertising of the company with cash.
DECEMBER, 10 Canceled the second share of Bank Loan and the interest.
DECEMBER 19 Realiced anual Depreciation expense:
ANUAL DEPRESCATION
EXPENSE
Description:
Computing Equipment
Unit Price:
1400,00
Residual Value:
200,00
Value to depreciate:
1200,00
YEARS
ANNUAL
ACCUMULATED
VALUE IN BOOKS
Years Useful Life:
4
DEPRECIATION DEPECIATION
0
1400,00
1
300,00
300,00
1100,00
2
300,00
600,00
800,00
3
300,00
900,00
500,00
4
300,00
1200,00
200,00
Description:
Unit Price:
Residual Value:
YEARS
ANNUAL
YearsDEPRECIATION
Useful Life:
0
1
2
3
4
5
6
7
8
9
10
11
12
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
Land
20000,00
2400,00
ACCUMULATED
VALUE IN BOOKS
17600,00
DEPECIATION
22
800,00
1.600,00
2.400,00
3.200,00
4.000,00
4.800,00
5.600,00
6.400,00
7.200,00
8.000,00
8.800,00
9.600,00
20000,00
19.200,00
18.400,00
17.600,00
16.800,00
16.000,00
15.200,00
14.400,00
13.600,00
12.800,00
12.000,00
11.200,00
10.400,00
13
14
15
16
17
18
19
20
21
22
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
800,00
Description:
Unit Price:
Residual Value:
Years Useful Life:
YEARS
ANNUAL
DEPRECIATION
0
1
2
3
4
5
6
7
8
9
100,00
100,00
100,00
100,00
100,00
100,00
100,00
100,00
100,00
Description:
Unit Price:
Residual Value:
Years Useful Life:
10.400,00
11.200,00
12.000,00
12.800,00
13.600,00
14.400,00
15.200,00
16.000,00
16.800,00
17.600,00
9.600,00
8.800,00
8.000,00
7.200,00
6.400,00
5.600,00
4.800,00
4.000,00
3.200,00
2.400,00
Ofice Fornitures
1000,00
100,00
900,00
9
ACCUMULATED VALUE IN BOOKS
DEPECIATION
100,00
200,00
300,00
400,00
500,00
600,00
700,00
800,00
900,00
1000,00
900,00
800,00
700,00
600,00
500,00
400,00
300,00
200,00
100,00
Vehicles
30000,00
5000,00
25000,00
5
YEARS
ANNUAL
ACCUMULATED
DEPECIATION
0
1
2
3
4
5
DEPRECIATION
5000,00
5000,00
5000,00
5000,00
5000,00
5000,00
VALUE IN BOOKS
5000,00
10000,00
15000,00
20000,00
25000,00
30000,00
25000,00
20000,00
15000,00
10000,00
5000,00
DECEMBER, 21 The members agree distributed the 70% of the retained earnings
RETAINED EARNINGS
$8.000,00 X 70%= $ 5.600,00
.
DECEMBER, 27 Canceled in cash the Basic Services for the month of October
and November $ 300,00. ( CASH)
BASIC SERVICES
$ 300,00
VOCABULARY
VOCABULARY
ASSETS: An asset is an asset that the company owns and can converters in cash or cash
equivalents.
Cash: It is the liquid element owned by the company, that is, it is money. The
company uses this cash to meet its immediate obligations
Accounts Receivable: It is where increases and cuts linked to the sale of different
concepts to products or services are recorded. This account consists of bills of
exchange, credit and promissory notes in favor of the company.
Inventory: They are tangible assets that are held for sale in the ordinary course of
business or to be consumed in the production of goods or services for further
marketing.
Fixed Assets: It is an asset of a company, whether tangible or intangible, which can

not become liquid short-term and are usually necessary for the operation of the
company and not intended for sale.
Accumulated Depreciation: Is the total amount of the devaluation that took over a
business over the life of each asset. Usually, a company must record depreciation
expense each month, then the depreciation expense becomes part of accumulated
depreciation to track the total depreciation.
LIABILITIES: The liability is debt that the company has, as reflected in the balance sheet
comprises the current obligations of the company are rooted in past financial transactions.
Accounts Payable: Accounts Payable arising on the purchase of material goods
(inventories), services received, expenses incurred and acquisition of fixed assets or
investments in hiring process.
Taxes Payable: Taxes are benefits today usually money, the state and other public
entities, that they claimed, by virtue of its coercive power, in the form and amount
determined unilaterally and without special consideration in order to meet the needs
collective.
Wages Payable: It is the account where the debts incurred by the company to its
employees and should be paid in a stipulated time period is recorded.
Notes Payable: Is the account where the documents certifying transactions such as
buying real estate or equipment, goods, and other documents replace some of these
debts on open account such as letters, notes and other recorded depending on who
is this account should be separated.
STOCKHOLDERS' EQUITY: The set of produced goods used to produce other goods.
Capital in financial sense is all money that was not consumed by its owner, but has been
saved and placed in the financial market, either buying stocks, bonds, public funds, or
making deposits in depository institutions.
Common Stock: Registered common shares, representing the capital of the true
owners of society; because they are the ones with deliberative power.
Retained Earnings: The balance of this account at the time of the initial
adjustment must be compared with the balance of the account Accumulated at the
same date; the debtor is a restriction on the payment of dividends in cash and
shares.
Revenue: The company receives money or born receivables in its favor, it will effective on
the dates stipulated. Income occurs when business assets increases and this increase is not
due to new members' shares.
Sales returns and allowances: The account records the value of the returned
goods or bonuses given or made by customers; increases by debit, the record is of
the form.
Expenses: In an industrial, commercial or service provision business to function normally
finds it unavoidable to acquire certain goods and services such as: labor, electricity,
telephone, etc.
Cost of Goods Sold: The cost of sales is the cost incurred to sell an asset, or to
provide a service. It is the value that has been incurred to produce or purchase a
commodity to be sold.
Depreciation Expense: Depreciation expenses are periodic savings going by a
company to the end of the life of an asset, the company has a save to renew the
asset (buy one later).
Payroll Tax Expense: These taxes are business expenses and are recorded as debits
to expense account, up to this point the description of payroll taxes has been linked
to taxes that are required to pay employees and withholding on their wages.
Rent Expense: This account represents the obligation of the company to pay bills,
leases, and other equipment at the time they become due.

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Universidad Tcnica de

NAME OF OUR ACCOUNTING OFFICE:

LIST THE RESPONSIBILITIES:

RAQUEL PREZ VELEZ

ERWIN QUINTERO QUIONEZ

Balance Sheet Initial

JULISSA BARROS ELIZALDE

MORELIA CAROLINA RAMREZ

JESSICA SANMARTIN CEDILLO

We account for the company:

JUNIN AND ROCAFUERTE FIRST EAST

PAPER TRAIL OFFICE SUPPLIES S.A

TOTAL LIABILITIES + OWNERS

2. October, 5 Purchased to MEGAMANAGER

Mario Flores Len

The Accountant: 2 extraordinary hours and 3 overtime.

6. November, 10 Canceled the first share of Bank Loan.

PAPER TRAIL OFFICE SUPPLIES S.A

NOT CURRENT LIABILITIES

TOTAL LIABILITIES + OWNERS

PAPER TRAIL OFFICE SUPPLIES S.A

PAPER TRAIL OFFICE SUPPLIES S.A

PAPER TRAIL OFFICE SUPPLIES S.A

To register its initial situation

To register Purchased to Mega

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Accounts receivable

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Provision for uncollectible accounts

To register its initial

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Merchandise Inventory

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Computing Equipment

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Office Formiture

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Accumulated Depreciation

To register its initial situation

To register anual Depreciation of

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Accounts Payable (Providers)

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Payrolls Payable

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: IESS Payable

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Commissions Payable

PAPER TRAIL OFFICE SUPPLIES S.A

ACCOUNT: Income tax Payable

PAPER TRAIL OFFICE SUPPLIES S.A

To register its initial situation

PAPER TRAIL OFFICE SUPPLIES S.A