Proyecto de ingles completo

67

Transcript of Proyecto de ingles completo

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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.

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NAME OF OUR ACCOUNTING OFFICE:

ACCOUNTING ADVISING UNDER IFRS (A.A.U.IFRS.)

LIST THE RESPONSIBILITIES:

RAQUEL PÉREZ VELEZ

ERWIN QUINTERO QUIÑONEZ

Introduction

Source Documents

Vocabulary

Balance Sheet Initial

Accounting Journal

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JULISSA BARROS ELIZALDE

MORELIA CAROLINA RAMÍREZ

JESSICA SANMARTIN CEDILLO

General Ledger

Sales report

Trial balance

Income Statement

Balance Sheet

Cash Flow

Calculations

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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

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MANAGER ACCOUNTANT

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 19.980,00

Cash-Bank 5.000,00

Accounts receivable 2.000,00

Provision for uncollectible accounts - 20,00

Merchandise Inventory 13.000,00

NON-CURRENT ASSETS 52.800,00

Lands 10.000,00

Buildings 20.000,00

Computing Equipment 2.800,00

Office Formiture 1.000,00

Vehicle 30.000,00

Accumulated Depreciation - 11.000,00

TOTAL ASSETS 72.780,00

LIABILITIES

CURRENT LIABILITIES 14.100,00

Accounts Payable (Providers) 8.500,00

Payrolls Payable 1.000,00

IESS Payable 600,00

Commissions Payable 500,00

Income tax Payable 3.500,00

NOT CURRENT LIABILITIES 10.000,00

Bank Loan 10.000,00

TOTAL LIABILITIES 24.100,00

OWNER’S EQUITY

Capital 38.680,00

Legal Reserve 2000,00

Retained earnings 8000,00

TOTAL OWNER’ EQUITY 48.680,00

TOTAL LIABILITIES + OWNER’S

EQUITY 72.780,00

_______________________ _______________________

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2. October, 5 Purchased to MEGA OFFICE SUPPLY, S.A wit Tax Payer N°

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° NAMES CHARTER CHARGE WORKS

DAYS

SALARY

1 Mario Flores León 0706235689 Accountant 30 1.300,00

2 Wilson Barzallo Espinoza 0102035678 Administrator 30 1.500,00

3 Ana Cedeño Ramírez 0104765324 Secretary 30 354,00

4 Alex Andrade Bueno 0702328326 Head of sales 30 720,00

5 Diego Aucay Salazar 0104356789 Selling 1 30 354,00

6 Javier León Balcazar 0701349977 Selling 2 30 354,00

7 Monica Fajardo Bermeo 0702348976 Assistant service 30 354,00

Note: We must consider the extraordinary hours, overtime, the advances and fees.

The Accountant: 2 extraordinary hours and 3 overtime.

The Administrator: 3 extraordinary hours.

The Head of sales: 2 Overtime hours.

The Mr Javier León B. : have a fee of $ 50,00

The Head of sales gain 0,80% of sales of the month and the sellers gain of comisión

1%.

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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

NUMBER

PRICE

EITHER

ONE

RESIDUAL

VALUE

YEARS

USEFUL

LIFE

Computing Equipment 2 1.400,00 200,00 4

Land 1 20.000,00 2.400,00 22

Office Fornitures 1 1.000,00 100,00 10

Vehicles 1 30.000,00 5.000,00 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)

It´s asked:

Prepare the accounting proccess and all balances of the company.

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000000000-567

BILL TO:

ADDRESS: Month Day Year

Taxpayer ID # 0 October 5 2015

QUANTITY TOTAL

600 18,00$

50 900,00$

6 180,00$

75 300,00$

15 1.950,00$

10 900,00$

4.248,00$

-

509,76$

4.757,76$

001-001

UNIT PRICE

0,03$

18,00$

30,00$

“PAPER TRAIL OFFICE SUPPLIES” S.A

4,00$

130,00$

90,00$

TAXPAYER ID #

0793245647001

INVOICE NUMBER

TRUJILLO GARCÍA FERNANDA MATILDE, GRAPHICS IMPRENTTRU RUC: 0704567892001- AUT #10620-12BLOCKS

(100*3)- DATE OF APPROVAL: 3-08-2015- EXPIRES AUGUST 3, 2016

INVOICE DATE

ST. JUNIN AND ROCAFUERTE FIRST EAST

IRS

AUTHO RIZATIO N

#:

116329894

DESCRIPTION

Paper Clips

Stapler

Desk Lamp

Note Pad

Cubicle Divider

MEGA OFFICE SUPPLY, S.A

ADDRESS: Bolivar & Julio Betancourt St.

File Cabinet

SELLER CUSTOMER

MACHALA- EL ORO- ECUADOR

Phone: 928266

SUBTOTAL

DISCOUNT

TAX 12%

TAX 0%

Observations: provides superior products and customer

service.

BALANCE DUE

796558756001

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Year

Address: 2015

TAXPAYER ID # 0

TAX TIEBACK

$ 42,48

42,48

SIGNATURE RETENTION AGENT

TOTAL RETAINED

Angel Bolivar Carlos Mora / Printing Bolivar RUC . 1709876543001 , Aut 1059 1

100x2 Block No. 400 to 500 , Date of Approval: 01/01/2016 Valid until

01/01/2017 for issueTAXPAYER

2015 $ 4.248,00 INCOME TAX 312 1%

IRS Authorization #:116329894

FISCAL EXERCISE TAXABLE TAX CODE % RETENTION

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WITHHOLDINGNUMBER: 001-003-00567

MEGA OFFICE SUPPLY, S.A

Bol ivar & Jul io Betancourt St.

“PAPER TRAIL OFFICE SUPPLIES” S.A

793245647001

001-001-000000000-567Invoice

October 5, 2015

IRS AUTHORIZATION #: 1109984321

Name or social reason: Month Day

TAXPAYER ID #: 0796558756001

Type receipt of purchase: Receipt of purchase #:

Date of issue:

October 5

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Balance: $ 5.000,00

Deposit: $ 3.000,00

Total $ 8.000,00

Check $ 4.715,28

Balance $ 3.284,72 Not invade the area with calligraphic traits or seals

Bank Machala

Machala, October 5,2015

City

$ 4.715,28

The sum of: FOUR THOUSAND SEVEN HUNDRED FIFTEEN

DOLLARS WITH TWENTY -EIGHT CENTS

Asignature

Current Account: 2205728901

Check Nº 001-001-00455

Pay to the: MEGA OFFICE SUPPLY, S.A

Check Nº: 001-001-00455

Date: October 5, 2015

To: MEGA OFFICE SUPPLY,

S.A

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000000000-001

BILL TO:

ADDRESS: Guayas e/ Sucre and 25 de Junio Month Day Year

Taxpayer ID # 0 October 18 2015

QUANTITY TOTAL

10 312,50$

5 669,64$

982,14$

-117,86$

1.100,00$

Cubicle Divider 133,93$

DISCOUNT

TAX 12%

TAX 0%

BALANCE DUE

SELLER CUSTOMER

TRUJILLO GARCÍA FERNANDA MATILDE, GRAPHICS IMPRENTTRU RUC: 0704567892001- AUT #10620-12BLOCKS

(100*3)- DATE OF APPROVAL: 3-11-2015- EXPIRES NOVEMBER 3, 2016

704142356001

DESCRIPTION UNIT PRICE

Desk Lamp 31,21$

“PAPER TRAIL OFFICE SUPPLIES” S.A TAXPAYER ID #

0796558756001

ADDRESS: JUNIN AND ROCAFUERTE FIRST EAST INVOICE NUMBER

Phone: 928250 001-001

MACHALA- EL ORO- ECUADOR

IRS

AUTHO RIZATIO N

#:

354675689

JUAN PÉREZ INVOICE DATE

Observations: provides superior products and customer

service.

SUBTOTAL

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Year

Address: 2015

TAXPAYER ID # 0

TAX TIEBACK

$ 9,82

9,82

Month Day

October 18

% RETENTION

1%2015 $ 982,14 INCOME TAX 312

Angel Bolivar Carlos Mora / Printing Bolivar RUC . 1709876543001 , Aut 1059 1

100x2 Block No. 400 to 500 , Date of Approval: 01/01/2016 Valid until

01/01/2017 for issue

TOTAL RETAINED

Sr. JUAN PÉREZ VÉLEZ

(NATURAL PERSON WITH ACCOUNTING)

TAXPAYER ID #:0704142356001

NUMBER: 001-003-00867

IRS AUTHORIZATION #: 1109984076

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WITHHOLDING

Name or social reason: “PAPER TRAIL OFFICE SUPPLIES” S.A

JUNIN AND ROCAFUERTE FIRST EAST

796558756001

Type receipt of purchase: Invoice Receipt of purchase #: 001-001-000000000-001

IRS Authorization #:354675689 Date of issue: October 18, 2015

FISCAL EXERCISE TAXABLE TAX CODE

SIGNATURE RETENTION AGENT TAXPAYER

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Nº 436,07$

CITY: DATE:

TO: Juan Pérez Vélez

ORDER OF: “Paper trail

office supplies S.A "

ADDRESS:Junin and

Rocafuerte First East

EXPIRES: Novembre 18,

2015

BILL OF EXCHANGE 54698 FOR US:Nº: 54698

FOR US: $ 436,07

CITY: Machala

DATE: October 18,2015

Avoid filing for acceptance and payment, as well as notices for lack of these facts

PHONE: 942556

CITY: Machala

ATTENTIVELY

TO: JUAN PÉREZ VÉLEZ

ADDRESS: Guayas e/ Sucre and 25 de Junio

Machala EXPIRES:

It must pay unconditionally in this place to thirty days of acceptance for this BILL OF EXCHANGE

, to order “PAPER TRAIL OFFICE SUPPLIES” S.A . The amount of four hundred thirty-six

dollars and seven cents, plus interest of 1.5% annually, and arrears 0,5 % annum swithout

protest.

November 18,2015October 18,2015

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000000000-002

BILL TO:

ADDRESS: Bolivar e/ Junin and 25 de Junio Month Day Year

Taxpayer ID # 0 October 28 2015

QUANTITY TOTAL

8 24,00$

12 18,00$

42,00$

-5,04$

47,04$

“PAPER TRAIL OFFICE SUPPLIES” S.A TAXPAYER ID #

0796558756001

ADDRESS: JUNIN AND ROCAFUERTE FIRST EAST INVOICE NUMBER

Phone: 928250 001-001

MACHALA- EL ORO- ECUADOR

IRS

AUTHO RIZATIO N

#: 354674323

COMPANY RAMÍREZ S.A. INVOICE DATE

Binder 1,50$

796520310001

DESCRIPTION UNIT PRICE

Dry Eraser 3,00$

SELLER CUSTOMER

TRUJILLO GARCÍA FERNANDA MATILDE, GRAPHICS IMPRENTTRU RUC: 0704567892001- AUT #10620-12BLOCKS

(100*3)- DATE OF APPROVAL: 3-11-2015- EXPIRES NOVEMBER 3, 2016

Observations: provides superior products and customer

service.

SUBTOTAL

DISCOUNT

TAX 12%

TAX 0%

BALANCE DUE

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Year

Address: 2015

TAXPAYER ID # 0

TAX TIEBACK

$ 0,42

0,42

SIGNATURE RETENTION AGENT TAXPAYER

TOTAL RETAINED

Angel Bolivar Carlos Mora / Printing Bolivar RUC . 1709876543001 , Aut 1059 1

100x2 Block No. 400 to 500 , Date of Approval: 01/01/2016 Valid until

01/01/2017 for issue

FISCAL EXERCISE TAXABLE TAX CODE % RETENTION

2015 $ 42,00 INCOME TAX 312 1%

Type receipt of purchase: Invoice Receipt of purchase #: 001-001-000000000-002

IRS Authorization #:354674323 Date of issue: October 28, 2015

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WITHHOLDINGNUMBER: 001-002-00867

IRS AUTHORIZATION #: 1109765321

Name or social reason: “PAPER TRAIL OFFICE SUPPLIES” S.A Month Day

JUNIN AND ROCAFUERTE FIRST EAST October 28

796558756001

COMPANY RAMÍREZ S.A.

TAXPAYER ID #:0796520310001

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Nº Names and Surnames CHARTER CHARGE W\D SALARYEXTRA

HOURSOVERTIME COM. TOTAL INCOME

CONTRIB.

TOL IESS ADVANCE

INCOME

TAX

TOTAL

REVENUESNET TO PAY

1 Mario Flores León 0706235689 Accountant 30 $ 1.300,00 21,67$ 24,39$ $ 1.346,06 $ 127,20 $ 32,27 $ 159,47 $ 1.186,59

2 Wilson Barzallo E. 102035678 Administor 30 $ 1.500,00 37,50$ $ 1.537,50 $ 145,29 $ 53,48 $ 198,77 $ 1.338,73

3 Ana Cedeño Ramírez 104765324 Secretary 30 $ 354,00 $ 354,00 $ 33,45 $ 33,45 $ 320,55

4 Alex Andrade Bueno 0702328326 Head of sales 30 $ 720,00 9,00$ 8,19$ $ 737,19 $ 69,66 $ 69,66 $ 667,53

5 Diego Aucay Salazar 104356789 Selling 1 30 $ 354,00 10,24$ $ 364,24 $ 34,42 $ 34,42 $ 329,82

6 Javier León Balcazar 0701349977 Selling 2 30 $ 354,00 10,24$ $ 364,24 $ 34,42 $ 50,00 $ 84,42 $ 279,82

7 Monica Fajardo B. 0702348976 Assist. service 30 $ 354,00 10,24$ $ 364,24 $ 34,42 $ 34,42 $ 329,82

$ 4.936,00 $ 59,17 $ 33,39 $ 38,91 $ 5.067,47 $ 478,88 $ 50,00 $ 85,75 $ 614,63 $ 4.452,84 TOTAL

“PAPER TRAIL OFFICE SUPPLIES” S.A

MANAGER ACCOUNTANT

TAXPAYER ID #: 0796558756001

PAYROLL

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Nº Names and Surnames CHARGE W/ DAYS TOTAL INCOME XIII SALARY XIV SALARY HOLIDAYS RESERVE FUNDEMPLOYER

CONTRIB.TOTAL

1 Mario Flores León Accountant 121 6.500,00$ 2.184,72$ 123,02$ 270,83$ 541,45$ 789,75$ 3.909,77$

2 Wilson Barzallo E. Administor 83 4.500,00$ 1.037,50$ 84,38$ 187,50$ 374,85$ 546,75$ 2.230,98$

3 Ana Cedeño Ramírez Secretary 45 1.880,00$ 235,00$ 45,75$ 78,33$ 156,60$ 228,42$ 744,11$

4 Alex Andrade Bueno Head of sales 67 940,00$ 174,94$ 68,12$ 39,17$ 78,30$ 114,21$ 474,74$

5 Diego Aucay Salazar Selling 1 48 620,00$ 82,67$ 48,80$ 25,83$ 51,65$ 75,33$ 284,28$

6 Javier León Balcazar Selling 2 41 1.750,00$ 199,31$ 41,68$ 72,92$ 145,78$ 212,63$ 672,31$

7 Monica Fajardo B. Assist,service 53 366,00$ 53,88$ 53,88$ 15,25$ 30,49$ 44,47$ 197,97$

TOTAL $ 16.556,00 $ 3.968,02 $ 465,63 $ 689,83 $ 1.379,11 $ 2.011,55 $ 8.514,16

“PAPER TRAIL OFFICE SUPPLIES” S.A

MANAGER ACCOUNTANT

TAXPAYER ID #: 0796558756001

TABLE OF PROVISIONSTO DECEMBER 31

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Balance: $ 3.284,72

Deposit: $ 6.436,85

Total $ 8.000,00

Check $ 6.436,85

Balance $ 1.563,15

Check Nº: 001-001-00456

Bank Machala

Current Account: 2205728901

Date: October 31 , 2015 Check Nº 001-001-0046

To: EMPLOYERS $ 12.967,00

Not invade the area with calligraphic traits or seals

Pay to the: workers

The sum of: TWELVE THOUSAND NINE HUNDRED SIXTY-

SEVEN DOLLARS WITH ZERO CENTS

Machala, October 31,2015

City Asignature

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MANAGER ACCOUNTANT

“PAPER TRAIL OFFICE SUPPLIES” S.A

Balance Sheet Initial

To the 31 of December, 2015

ASSETS

CURRENT ASSETS 23.980,00

Bank

Cash

12.000,00

8.000,00

Accounts receivable 2.000,00

Provision for uncollectible accounts - 20,00

Merchandise Inventory 2.000,00

NON-CURRENT ASSETS 48.800,00

Lands 10.000,00

Buildings 20.000,00

Computing Equipment 2.800,00

Office Formiture 1.000,00

Vehicle 22.000,00

Accumulated Depreciation - 7.000,00

TOTAL ASSETS ______72.780,00____

LIABILITIES

CURRENT LIABILITIES 14.100,00

Accounts Payable (Providers) 8.500,00

Payrolls Payable 1.000,00

IESS Payable 600,00

Commissions Payable 500,00

Income tax Payable 3.500,00

NOT CURRENT LIABILITIES 10.000,00

Bank Loan 10.000,00

TOTAL LIABILITIES 24.100,00

OWNER’S EQUITY

Capital 38.680,00

Legal Reserve 2000,00

Retained earnings 8000,00

TOTAL OWNER’ EQUITY 48.680,00

TOTAL LIABILITIES + OWNER’S

EQUITY 72.780,00

_______________________ ____________________

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“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

OCTOBER 01 TO DECEMBER 31, 2015 FOLIO N° 1

FOLIO N°_____01_____

DATE DETAIL PARTIAL DEBIT HAVINGS

October, 1 -1-

Bank 5.000,00 12.000,00

Cash 8.000,00

Accounts receivable 2.000,00 2.000,00

Provision for uncollectible accounts - 20,00 ( 20,00)

Merchandise Inventory 13.000,00 2.000,00

Lands 10.000,00 10.000,00

Buildings 20.000,00 20.000,00

Computing Equipment 2.800,00 2.800,00

Office Formiture 1.000,00 1.000,00

Vehicle 30.000,00 22.000,00

Accumulated Depreciation 11.000,00 ( 7.000,00)

Accounts Payable (Providers) 8.500,00

Payrolls Payable 1.000,00

IESS Payable 600,00

Commissions Payable 500,00

Income tax Payable 3.500,00

Bank Loan 10.000,00

Capital 38.680,00

Legal Reserve 2000,00

Retained earnings 8000,00

To register its initial situation

October, 5 -2-

PURCHASE 4.248,00

Purchase rate 12% 4.248,00

VAT PAID 509,76

OBLIGATIONS WITH THE TAX ADMINISTRATION 42,48

Income tax withholding 42,48

BANK 4.715,28

Bank of Machala 4.715,28

To register Purchased to Mega Office Supply.

October, 18 -3-

CASH 654,11

BILL OF EXCHANGE 436,07

OBLIGATIONS WITH THE TAX ADMINISTRATION 9,82

Income tax withholding 9,82

SALE 982,14

Sale rate 12% 982,14

VAT PAID 117,86

Vat paid rate 12% 117,86

To register Salled to Juan Pérez

PASS 78.637,76 78.637,76

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“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

OCTOBER 01 TO DECEMBER 31, 2015 FOLIO N° 2

FOLIO N°_____01_____

DATE DETAIL PARTIAL DEBIT HAVINGS

COME 78.637,76 78.637,76

October, 28 -4-

CASH 46,62

OBLIGATIONS WITH THE TAX ADMINISTRATION 0,42

Income tax withholding 0,42

SALE 42,00

Sale rate 12% 42,00

VAT PAID 5,04

Vat paid rate 12% 5,04

To register selled to Company RAMIREZ S.A

October, 31 -5-

PRODUCTION PAYROLL 4.452,84

INCOME 5.067,47

Salaries Payable 4936,00

Extra Hours 59,17

Overtimes 33,39

Commissions 38,91

REVENUES (614,63)

Employees Contribution to IESS 9,45% 478,88

Advance 50,00

Income tax 85,75

SOCIAL BENEFITS PAYABLE 8.514,16

XIII Salary 3.968,02

XIV Salary 465,63

Holidays 689,83

Reserve fund 1.379,13

Employer contribution 2.011,55

BANK 12.967,00

Bank of Machala 12.967,00

To register Payroll and table of provisions.

November, 10 -6-

BANK LOAN 833,33

INTEREST 116.67

CASH 950,00

To register payment the first share of Bank Loan.

November, 22 -7-

ADVERTISING 800,00

CASH 800,00

To register payment of Advertising of the company.

PASS 93.401,80 93.401,80

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“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

OCTOBER 01 TO DECEMBER 31, 2015 FOLIO N° 3

FOLIO N°_____01_____

DATE DETAIL PARTIAL DEBIT HAVINGS

COME 93.401,80 93.401,80

December, 10 -8-

BANK LOAN 833,33

INTEREST 106,94

CASH 940,27

To register payment the second share of Bank Loan.

December, 19 -9-

DEPRECIATION OF PPyE 6.200,00

Computing Equipment 300,00

Land 800,00

Oficce fornitures 100,00

Vehicles 5.000,00

ACCUMULATED DEPRECIATION OF PPyE. 6.200,00

To register anual Depreciation of PPy E.

December, 21 -10-

RETAINED EARNINGS 5.600,00

Shareholders 5.600,00

CASH 5.600,00

To register distributed of the retained earnings.

December, 27 -11-

BASIC SERVICES 300,00

CASH 300,00

To register payment the Basic Services for the month of October and November

TOTAL 106.442,07 106.442,07

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MANAGER ACCOUNTANT

_______________________ ___________________

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“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: BANK

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 12.000,00 $ 12.000,00

October, 5 To register Purchased to Mega Office

Supply. 2 $ 4.715,28 $ 7.284,72

October, 31 To register Payroll and table of provisions. 5 $ 12.967,00 $ (5.682,28)

TOTAL $ 12.000,00 $ 17.682,28 $ (5.682,28)

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Accounts receivable

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 2.000,00 $ 2.000,00

TOTAL $ 2.000,00 $ - $ 2.000,00

Page 30: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Provision for uncollectible accounts

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 20,00 $ 20,00

TOTAL $ 20,00 $ - $ 20,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Merchandise Inventory

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 2.000,00 $ 2.000,00

TOTAL $ 2.000,00 $ - $ 2.000,00

Page 31: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Lands

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 10.000,00 $ 10.000,00

TOTAL $ 10.000,00 $ - $ 10.000,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Buildings

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 20.000,00 $ 20.000,00

TOTAL $ 20.000,00 $ - $ 20.000,00

Page 32: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Computing Equipment

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 2.800,00 $ 2.800,00

TOTAL $ 2.800,00 $ - $ 2.800,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Office Formiture

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 1.000,00 $ 1.000,00

TOTAL $ 1.000,00 $ - $ 1.000,00

Page 33: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Vehicle

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 22.000,00 $ 22.000,00

TOTAL $ 22.000,00 $ - $ 22.000,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Accumulated Depreciation

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 7.000,00 $ 7.000,00

December, 19 To register anual Depreciation of PPy E. 9 $ 6.200,00 $ 800,00

TOTAL $ 7.000,00 $ 6.200,00 $ 800,00

Page 34: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Accounts Payable (Providers)

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 8.500,00 $ 8.500,00

TOTAL $ - $ 8.500,00 $ 8.500,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Payrolls Payable

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 1.000,00 $ 1.000,00

TOTAL $ - $ 1.000,00 $ 1.000,00

Page 35: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: IESS Payable

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 600,00 $ 600,00

TOTAL $ - $ 600,00 $ 600,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Commissions Payable

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 500,00 $ 500,00

TOTAL $ - $ 500,00 $ 500,00

Page 36: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Income tax Payable

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 3.500,00 $ 3.500,00

TOTAL $ - $ 3.500,00 $ 3.500,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT:Bank Loan

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 10.000,00 $ 10.000,00

November, 10 To register payment the first share of Bank Loan. 6 $ 833,33 $ 9.166,67

December,10 To register payment the second share of Bank Loan. 8 $ 833,33 $ 8.333,34

TOTAL $ 1.666,66 $ 10.000,00 $ 8.333,34

Page 37: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Capital

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 38.680,00 $ 38.680,00

TOTAL $ - $ 38.680,00 $ 38.680,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Legal Reserve

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 2.000,00 $ 2.000,00

TOTAL $ - $ 2.000,00 $ 2.000,00

Page 38: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: Retained earnings

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 8.000,00 $ 8.000,00

December, 21 To register distributed of the retained earnings. 10 $ 5.600,00 $ 2.400,00

TOTAL $ 5.600,00 $ 8.000,00 $ 2.400,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: PURCHASE

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 5 To register Purchased to Mega Office Supply. 2 $ 4.248,00 $ 4.248,00

TOTAL $ 4.248,00 $ - $ 4.248,00

Page 39: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: VAT CHARGED

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 18 To register Salled to Juan Pérez 3 $ 117,86 $ 117,86

October, 28 To register selled to Company RAMIREZ S.A 4 $ 5,04 $ 122,90

TOTAL $ - $ 122,90 $ 122,90

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: OBLIGATIONS WITH THE TAX ADMINISTRATION

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 5 To register Purchased to Mega Office Supply. 2 $ 42,48 $ 42,48

October, 18 To register Salled to Juan Pérez 3 $ 9,82 $ 32,66

October, 28 To register selled to Company RAMIREZ S.A 4 $ 0,42 $ 32,24

TOTAL $ 10,24 $ 42,48 $ 32,24

Page 40: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: CASH DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 1 To register its initial situation 1 $ 8.000,00 $ 8.000,00

October, 18 To register Salled to Juan Pérez 3 $ 654,11 $ 8.654,11

October, 28 To register selled to Company RAMIREZ S.A 4 $ 46,62 $ 8.700,73

November, 10 To register payment the first share of Bank Loan. 6 $ 950,00 $ 7.750,73

November, 22 To register payment of Advertising of the company. 7 $ 800,00 $ 6.950,73

December,10 To register payment the second share of Bank Loan. 8 $ 940,27 $ 6.010,46

December, 21 To register distributed of the retained earnings. 10 $ 5.600,00 $ 410,46

December, 27 To register payment the Basic Services for the month of October and November

11 $ 300,00 $ 110,46

TOTAL $ 8.700,73 $ 8.590,27 $ 110,46

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: BILL OF EXCHANGE

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 18 To register Salled to Juan Pérez 3 $ 436,07 $ 436,07

TOTAL $ 436,07 $ - $ 436,07

Page 41: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: SALE

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 18 To register Salled to Juan Pérez 3 $ 982,14 $ 982,14

October, 28 To register selled to Company RAMIREZ S.A 4 $ 42,00 $ 1.024,14

TOTAL $ - $ 1.024,14 $ 1.024,14

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: PRODUCTION PAYROLL

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 31 To register Payroll and table of provisions. 5 $ 4.452,84 $ - $ 4.452,84

TOTAL $ 4.452,84 $ - $ 4.452,84

Page 42: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: SOCIAL BENEFITS PAYABLE

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 31 To register Payroll and table of provisions. 5 $ 8.514,16 $ 8.514,16

TOTAL $ 8.514,16 $ 8.514,16

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: INTEREST

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

November, 10 To register payment the first share of Bank Loan. 6 $ 116,67 $ 116,67

December,10 To register payment the second share of Bank Loan. 8 $ 106,94 $ 223,61

TOTAL $ 223,61 $ - $ 223,61

Page 43: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: ADVERTISING

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

November, 22 To register payment of Advertising of the company. 7 $ 800,00 $ 800,00

TOTAL $ 800,00 $ - $ 800,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: VAT PAID

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

October, 5 To register Purchased to Mega Office Supply. 2 $ 509,76 $ 509,76

TOTAL $ 509,76 $ - $ 509,76

Page 44: Proyecto de ingles completo

MANAGER ACCOUNTANT

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: DEPRECIATION OF PPyE

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

December, 19 To register anual Depreciation of PPy E. 9 $ 6.200,00 $ 6.200,00

TOTAL $ 6.200,00 $ - $ 6.200,00

“PAPER TRAIL OFFICE SUPPLIES” S.A

GENERAL LEDGER

OCTOBER 01 TO DECEMBER 31, 2015

ACCOUNT: BASIC SERVICES

DATE DETAIL REFERENCE DEBIT CREDIT BALANCE

December, 27 To register payment the Basic Services for the month of October and November

11 $ 300,00 $ 300,00

TOTAL $ 300,00 $ - $ 300,00

Page 45: Proyecto de ingles completo
Page 46: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

SALES REPORT

FROM JANUARY 01 TO DECEMBER 31, 2015

FOLIO N°_____01_____

MANAGER ACCOUNTANT

"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.

0,00

10.000,00

20.000,00

30.000,00

40.000,00

50.000,00

60.000,00

SALES REPORT

Page 47: Proyecto de ingles completo
Page 48: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

TRIAL BALANCE

OCTOBER 01 TO DECEMBER 31, 2015

FOLIO N°_____01_____

MANAGER ACCOUNTANT

N° DETAIL SUMS BALANCES

DEBIT HAVINGS DEBIT CREDIT

1 Bank $ 12.000,00 $ 17.682,00 $ 5.682,00

2 Cash $ 8.700,73 $ 8.590,27 $ 110,46

3 Accounts receivable $ 2.000,00 $ - $ 2.000,00

4 Provision for uncollectible accounts

$ (20,00) $ - $ (20,00)

5 Merchandise Inventory $ 2.000,00 $ - $ 2.000,00

6 Lands $ 10.000,00 $ - $ 10.000,00

7 Buildings $ 18.000,00 $ - $ 18.000,00

8 Computing Equipment $ 1.800,00 $ - $ 1.800,00

9 Office Formiture $ 1.000,00 $ - $ 1.000,00

10 Vehicle $ 20.000,00 $ - $ 20.000,00

11 Accumulated Depreciation $ 7.000,00 $ 6.200,00 $ 800,00

12 Accounts Payable (Providers) $ - $ 8.500,00 $ 8.500,00

13 Payrolls Payable $ - $ 1.000,00 $ 1.000,00

14 IESS Payable $ - $ 600,00 $ 600,00

15 Commissions Payable $ - $ 500,00 $ 500,00

16 Income tax Payable $ - $ 3.500,00 $ 3.500,00

17 Bank Loan $ 1.666,66 $ 10.000,00 $ 8.333,34

18 Capital $ - $ 38.680,00 $ 38.680,00

19 Legal Reserve $ - $ 2.000,00 $ 2.000,00

20 Retained earnings $ 5.600,00 $ 8.000,00 $ 2.400,00

21 Purchase $ 2.658,00 $ - $ 2.658,00

22 VAT charged $ 122,90 $ 122,90

23 VAT paid $ 509,76 $ - $ 509,76

24 Obligations with the tax administration (1%)

$ 10,24 $ 42,76 $ 32,52

25 Bill of exchange $ 436,07 $ - $ 436,07

26 Sale $ - $ 1.024,14 $ 1.024,14

27 Production Payroll $ 3.642,84 $ 3.642,84

28 Social Benefits payable $ 8.214,16 $ 8.514,16

29 Interest $ 123,61 $ 123,61

30 Advertising $ 800,00 $ 800,00

32 Basic Services $ 300,00 $ - $ 300,00

TOTAL $ 106.442,07 $ 106.442,07 $ 72.674,90 $ 72.374,90

Page 49: Proyecto de ingles completo
Page 50: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

INCOME STATEMENTS

OCTOBER 01 TO DECEMBER 31, 2015

MANAGER ACCOUNTANT

Page 51: Proyecto de ingles completo
Page 52: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

BALANCE SHEET

OCTOBER 01 TO DECEMBER 31, 2015

FOLIO N°_____01_____

MANAGER ACCOUNTANT

Page 53: Proyecto de ingles completo
Page 54: Proyecto de ingles completo

“PAPER TRAIL OFFICE SUPPLIES” S.A

TAXPAYER ID #: 0796558756001

CASH FLOW STATEMENTS

OCTOBER 01 TO DECEMBER 31, 2015

MANAGER ACCOUNTANT

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 FLOW FROM OPERATING ACTIVITIES

33.000,00

CASH FLOW FROM INVESTING

PAYMENTS FOR NEW INVESTMENTS

(7.000,00)

DIVIDENDS RECEIVED

4.000,00

NET CASH FLOW FROM INVESTING

(3.000,00)

CASH FLOW FROM FINANCING

DEBT INCREASES

4.000,00

DIVIDENDS PAID TO STOCKHOLDERS

(8.000,00)

NET CASH FLOW FROM FINANCING ACTIVITIES

(4.000,00)

NET CASH FLOW

3.000,00

CASH BALANCE, BEGINNING OF YEAR

300000,00

CASH BALANCE, END OF YEAR

330000,00

Page 55: Proyecto de ingles completo
Page 56: Proyecto de ingles completo

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 Purchase rate 12%

+ 509,76 V.A.T. 12%

4757,76

- 42,48 Income tax withholding

- 4715,28 Bank

OCTOBER, 18

10 * 35,00 = 350,00

5 * 150,00 = 750,00

982,14 Sale (Mr . Juan Pérez)

+ 117,86 V.A.T. 12%

1100,00

- 9,82 Income tax withholding

1090,18 60% = 654,11 Cash

40% = 436,07 Accounts receivable

Page 57: Proyecto de ingles completo

OCTOBER, 28

8 * 3,00 = 24,00

12 * 1,50 = 18,00

42,00 Sale (Ramirez Company)

+ 5,04

47,04

- 0,42 Income tax withholding

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 3

24,39 OVERTIME

Page 58: Proyecto de ingles completo

Administrator

1500,00 / 240 = 6,25 * 2 = 12,50

x 3

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 León (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

Page 59: Proyecto de ingles completo

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.

N° CAPITAL INTEREST T.DIVIDENDS BALANCE

10.000,00$

1 833,33$ 116,67$ 950,00$ 9.166,67$

2 833,33$ 106,94$ 940,28$ 8.333,33$

3 833,33$ 97,22$ 930,56$ 7.500,00$

4 833,33$ 87,50$ 920,83$ 6.666,67$

5 833,33$ 77,78$ 911,11$ 5.833,33$

6 833,33$ 68,06$ 901,39$ 5.000,00$

7 833,33$ 58,33$ 891,67$ 4.166,67$

8 833,33$ 48,61$ 881,94$ 3.333,33$

9 833,33$ 38,89$ 872,22$ 2.500,00$

10 833,33$ 29,17$ 862,50$ 1.666,67$

11 833,33$ 19,44$ 852,78$ 833,33$

12 833,33$ 9,72$ 843,06$ -$

AMORTIZATION SCHEDULE

N° CAPITAL INTEREST T.DIVIDENDS BALANCE

10.000,00$

1 833,33$ 116,67$ 950,00$ 9.166,67$

2 833,33$ 106,94$ 940,28$ 8.333,33$

3 833,33$ 97,22$ 930,56$ 7.500,00$

4 833,33$ 87,50$ 920,83$ 6.666,67$

5 833,33$ 77,78$ 911,11$ 5.833,33$

6 833,33$ 68,06$ 901,39$ 5.000,00$

7 833,33$ 58,33$ 891,67$ 4.166,67$

8 833,33$ 48,61$ 881,94$ 3.333,33$

9 833,33$ 38,89$ 872,22$ 2.500,00$

10 833,33$ 29,17$ 862,50$ 1.666,67$

11 833,33$ 19,44$ 852,78$ 833,33$

12 833,33$ 9,72$ 843,06$ -$

AMORTIZATION SCHEDULE

Page 60: Proyecto de ingles completo

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 Useful Life: 4

YEARS

ANNUAL

DEPRECIATION

ACCUMULATED

DEPECIATION

VALUE IN BOOKS

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

Page 61: Proyecto de ingles completo

Description: Land

Unit Price: 20000,00

Residual Value: 2400,00

Value to depreciate: 17600,00

Years Useful Life: 22

YEARS

ANNUAL

DEPRECIATION

ACCUMULATED

DEPECIATION

VALUE IN BOOKS

0 20000,00

1 800,00 800,00 19.200,00

2 800,00 1.600,00 18.400,00

3 800,00 2.400,00 17.600,00

4 800,00 3.200,00 16.800,00

5 800,00 4.000,00 16.000,00

6 800,00 4.800,00 15.200,00

7 800,00 5.600,00 14.400,00

8 800,00 6.400,00 13.600,00

9 800,00 7.200,00 12.800,00

10 800,00 8.000,00 12.000,00

11 800,00 8.800,00 11.200,00

12 800,00 9.600,00 10.400,00

13 800,00 10.400,00 9.600,00

14 800,00 11.200,00 8.800,00

15 800,00 12.000,00 8.000,00

16 800,00 12.800,00 7.200,00

17 800,00 13.600,00 6.400,00

18 800,00 14.400,00 5.600,00

19 800,00 15.200,00 4.800,00

20 800,00 16.000,00 4.000,00

21 800,00 16.800,00 3.200,00

22 800,00 17.600,00 2.400,00

Page 62: Proyecto de ingles completo

Description: Ofice Fornitures

Unit Price: 1000,00

Residual Value: 100,00

Value to depreciate: 900,00

Years Useful Life: 9

YEARS

ANNUAL

DEPRECIATION

ACCUMULATED

DEPECIATION

VALUE IN BOOKS

0 1000,00

1 100,00 100,00 900,00

2 100,00 200,00 800,00

3 100,00 300,00 700,00

4 100,00 400,00 600,00

5 100,00 500,00 500,00

6 100,00 600,00 400,00

7 100,00 700,00 300,00

8 100,00 800,00 200,00

9 100,00 900,00 100,00

Page 63: Proyecto de ingles completo

Description: Vehicles

Unit Price: 30000,00

Residual Value: 5000,00

Value to depreciate: 25000,00

Years Useful Life: 5

YEARS

ANNUAL

DEPRECIATION

ACCUMULATED

DEPECIATION

VALUE IN BOOKS

0 5000,00 30000,00

1 5000,00 5000,00 25000,00

2 5000,00 10000,00 20000,00

3 5000,00 15000,00 15000,00

4 5000,00 20000,00 10000,00

5 5000,00 25000,00 5000,00

Page 64: Proyecto de ingles completo

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

Page 65: Proyecto de ingles completo
Page 66: Proyecto de ingles completo

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

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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.