understanding financial documents 101 businesses do not have the know how to properly implement this...
TRANSCRIPT
1 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
Understanding Financial Documents 101 Discussion Outline
1. Introduction 2. What is GAAP? 3. Methods of Accounting
a. Accrual b. Cash c. Tax
4. Types of Financial Statements a. Balance Sheet b. Income Statement or Profit and Loss Statement c. Cash Flow Statement d. Statement of Changes in Equity
5. How to Read and Understand Financial Statements 6. New Duties of Counsel Under BABCPA 7. What to Look for in Financial Documents Provided by Debtor 8. Conclusion 9. Questions and Answers
2 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
1. Introduction
2. What is GAAP? • Generally Accepted Accounting Principles (GAAP) • Standardization of accounting methods set by the Financial Accounting Standards
Board(FASB) • Tends to be conservative in its assessment of a business, by its tendency to understate
income and overstate expenses, when assessing income or expenses that involves some judgment
• Uses double entry accounting; a record keeping system under which every transaction is recorded in at least two accounts. Every entry requires a corresponding and opposite entry. There is no limit on the number of accounts that may be used in a transaction, but the minimum is two accounts
EXAMPLE
Company XYZ makes a $5,000 mortgage payment of which $4,000 is applied to principal and $1,000 is applied to interest. The company makes the following journal entry:
Debit Mortgage Payable $4,000 Debit Interest Expense $1,000
Credit Cash $5,000
3. Methods of Accounting • Accrual Accounting
o Income is recorded when it is earned rather than when it is received o Expenses are recognized when they are incurred rather than when they are
paid o More accurately represents the financial status of the business o Used by large business where it must provide financial reports to stakeholders,
such as lenders or stockholders, that more accurately reflects the financial health of the business
3 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
o Reality Check Does not show amount of cash reserves available, which could result in
a serious cash flow problems. For instance, your income ledger may show thousands of dollars in sales, while in reality your bank account is empty because your customers haven't paid you yet.
Small businesses do not have the know how to properly implement this method
• Tendency to accrue income but not accrue expense • End up paying more taxes than necessary • Financial Statements tend to be unreliable
• Cash Accounting
o Income is recorded when it is received rather than when it is earned o Expenses are recognized when they are paid rather than when they are
incurred o More accurately tracks cash flow o Most commonly used by sole proprietors and small businesses o Easy to implement o Reality Check
Offers a misleading picture of longer-term profitability. For instance, your books may show one month to be very profitable, when actually sales have been slow and, by coincidence, a lot of credit customers paid their bills in that month
Accounts Receivable and Accounts Payable are not recorded on books
EXAMPLE
Your computer installation business finishes a job in November, and doesn't get paid until three months later in January. Under the cash method, you would record the payment in January. Under the accrual method, you would record the income in your November books.
EXAMPLE
You purchase a new laser printer on credit in May and pay $1,000 for it in July, two months later. Using the cash method, you would record a $1,000 payment for the month of July, the month when the money is actually paid. Under the accrual method, you would record the $1,000 payment in May, when you take the laser printer and become obligated to pay for it.
4 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
• Tax Accounting o Unlike GAAP that has the tendency to understate income or overstating
expenses thereby lowering taxable income, tax law modifies the procedures that must be used in financial (GAAP) accounting to prevent the understatement of income or overstatement of expenses. This modification of financial accounting is known as tax accounting.
o So although IRC §446(a) stipulates that businesses should use the same method of accounting for taxes as they use in keeping their books, tax accounting differs in some ways from financial accounting to conform to the requirements of tax law, which may lead to a difference between book income and taxable income. For instance, prepayments received by a business are not treated as income until they are earned according to financial accounting principles, but, with certain exceptions, the income is taxable in the tax year in which it is received.
o If a business entity does not have to provide financial reports to third party users, then it can just keep its books according to tax rules.
o Other common book to tax differences are Owner’s Life Insurance, Owner’s Disability Insurance, Traffic Tickets, Depreciation and Amortization.
4. Types of Financial Statements • Balance Sheet
Balance Sheet presents the financial position of an entity at a given date. It is comprised of the following three elements:
o Assets: Something a business owns or controls (e.g. cash, inventory, plant and machinery, etc)
o Liabilities: Something a business owes to someone (e.g. creditors, bank loans, etc)
o Equity: What the business owes to its owners. This represents the amount of capital that remains in the business after its assets are used to pay off its outstanding liabilities. Equity therefore represents the difference between the assets and liabilities
Retained Earnings does is not accumulated cash available Equity balance is not amount of cash available Equity is net worth
o Assets = Liabilities + Equity o Off balance sheet items refer to items that are effectively assets or liabilities
of a company but do not appear on the company's balance sheet, e.g. securitized loans.
5 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
EXAMPLE
Company XYZ leases a new piece of equipment. Even though Company XYZ has virtually complete control of and responsibility for the machine, it only records its monthly lease expense on its income statement; it does not have to record the additional debt on its balance sheet, and it does not record an increase in assets (because it does not legally own the equipment).
Income Statement
Income Statement, also known as the Profit and Loss Statement, reports the company's financial performance in terms of net profit or loss over a specified period. Income Statement is composed of the following two elements:
o Income: What the business has earned over a period (e.g. sales revenue, dividend income, etc)
o Expense: The cost incurred by the business over a period (e.g. salaries and wages, depreciation, rental charges, etc)
o Income – Expenses = Net profit or loss
Cash Flow Statement Cash Flow Statement, presents the movement in cash and bank balances over a period. The movement in cash flows is classified into the following segments:
o Operating Activities: Represents the cash flow from primary activities of a business.
o Investing Activities: Represents cash flow from the purchase and sale of assets other than inventories (e.g. purchase of a factory plant)
o Financing Activities: Represents cash flow generated or spent on raising and repaying share capital and debt together with the payments of interest and dividends.
Statement of Changes in Equity Statement of Changes in Equity, also known as the Statement of Retained Earnings, details the movement in owners' equity over a period. The movement in owners' equity is derived from the following components:
o Net Profit or loss during the period as reported in the income statement o Share capital issued or repaid during the period or owner’s
investments/draws o Dividend payments o Gains or losses recognized directly in equity (e.g. revaluation surpluses) o Effects of a change in accounting policy or correction of accounting error
5. How to Read and Understand Financial Statements The four financial statements are related
6 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
When prepared correctly, they paint a complete picture of the state of financial affairs
6. New Duties of Counsel under BABCPA Under § 707(b)(4)(C)(i) of BAPCPA, an attorney must now certify that the attorney has “performed a reasonable investigation into the circumstance that gave rise to the petition, pleading, or written motion.”11 In addition, under § 707(b)(4)(D), “[t]he signature of attorney on the petition shall constitute a certification that the attorney has no knowledge after an inquiry that the information in the schedules filed with such petition is incorrect.”
7. What to Look for in Financial Documents Provided by Debtor Paystubs
o Missing Paystubs o Bonus Pay Paystubs o Year-to-Date Amounts o Non-Mandatory Deductions
Bank Statements o Missing Bank Statements/Gap in Bank Statement Date o Always check that prior month’s ending balance equals current month’s
beginning balance o Look for abnormal activity
Large Deposits Large Withdrawals Bank Transfers Co-mingling of Business vs. Personal Funds
Tax Returns o Filing Status
Common Mistake - Head of Household You might be able to file as head of household if you meet these requirements: 1. You're unmarried or considered unmarried on the last day of
2014. 2. You paid more than half the cost of keeping up a home for the
year. 3. A qualifying person lived with you in the home for more than half
the year. Temporary absences, like for school, don’t count. However, if the qualifying person is your dependent parent, the parent doesn't have to live with you.
To be considered unmarried on the last day of 2014, you must meet these tests:
1. You file a separate return.
7 ______________________________________________________________________________________________________________
Sandra Chiman CPA LLC, 8403 Colesville Road, Suite 610, Silver Spring, MD 20910 E-mail: [email protected], Telephone: 301-332-8510
2. You paid more than half the cost of keeping up your home for 2014.
3. Your spouse didn't live in your home during the last six months of 2014. If your spouse is only temporarily absent, your spouse is considered to live in your home.
4. Your home was the main home for more than half the year for your:
• Child • Stepchild • Foster child
o Sources of Income o Types of Deductions o Cash Reconciliation Adjustments
Add back non-cash items like depreciation Add back automobile expense Deduct principal portion of loan payments
Financial Statements
o Debtors without Books & Records and/or Comingle Business and Personal Funds
Provide Receipts and Disbursement Template Have Debtors highlight business receipts and disbursements on
bank statements Compare results of Income Statement to Net Change in Cash
balance on Bank Statement Look for duplicate expenses on Schedule J e.g. automobile and
utilities expenses o Debtors with Books & Records
Provide Receipts and Disbursement Template Look for duplicate expenses on Schedule J e.g. automobile and
utilities expenses Obtain Balance Sheet, Income Statement and Statement of Cash
Flows and review for consistency Compare results of Income Statement to Net Change in Cash
balance on Bank Statement Obtain Bank Reconciliation Obtain General Ledger – Beware of Adjusting Journal Entries
8. Conclusion
9. Questions and Answers
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Exhibit 1
Nov 30, 19
ASSETSCurrent Assets
Checking/SavingsChecking 5,379.86Cash Expenditures 225.23Savings 8,487.50
Total Checking/Savings 14,092.59
Accounts ReceivableAccounts Receivable 21,128.41
Total Accounts Receivable 21,128.41
Other Current AssetsPrepaid Insurance 500.00Employee advances 100.00Inventory Asset 8,378.54Undeposited Funds 690.03
Total Other Current Assets 9,668.57
Total Current Assets 44,889.57
Fixed AssetsTruck
Accumulated Depreciation -1,725.00Original Purchase 13,750.00
Total Truck 12,025.00
Total Fixed Assets 12,025.00
TOTAL ASSETS 56,914.57
LIABILITIES & EQUITYLiabilities
Current LiabilitiesAccounts Payable
Accounts Payable 9,758.94
Total Accounts Payable 9,758.94
Credit CardsCalOil Card 1,353.99QuickBooks Credit Card
QBCC Field Office 45.00QBCC Home Office 25.00
Total QuickBooks Credit Card 70.00
Total Credit Cards 1,423.99
Other Current LiabilitiesPayroll Liabilities 4,130.29Payments on Account -1,520.00Sales Tax Payable 2,000.78
Total Other Current Liabilities 4,611.07
Total Current Liabilities 15,794.00
Long Term LiabilitiesBank of Anycity Loan 19,932.65Equipment Loan 3,911.32Bank Loan 6,013.06
Total Long Term Liabilities 29,857.03
Total Liabilities 45,651.03
EquityOpening Bal Equity 51,970.07Owner's Equity
Owner's Draw -5,000.00
Total Owner's Equity -5,000.00
Retained Earnings -40,118.74Net Income 4,412.21
Total Equity 11,263.54
TOTAL LIABILITIES & EQUITY 56,914.57
1:56 PM Larry Wadford's Landscaping & Garden Supply12/15/19 Balance SheetAccrual Basis As of November 30, 2019
Page 1
Exhibit 2
Nov 19
Ordinary Income/ExpenseIncome
Landscaping ServicesDesign Services 2,650.00Job Materials
Misc Materials 12.30Fountains & Garden Lighting 2,903.50Plants and Sod 1,272.00Sprinklers & Drip systems 1,712.96
Total Job Materials 5,900.76
LaborInstallation 6,440.00Maintenance & Repairs 1,490.00
Total Labor 7,930.00
Total Landscaping Services 16,480.76
Markup Income 610.00Retail Sales 101.22Service 2,450.00
Total Income 19,641.98
Cost of Goods SoldCost of Goods Sold 1,539.27
Total COGS 1,539.27
Gross Profit 18,102.71
ExpensePayroll Expenses 16,211.27Automobile
Insurance 427.62Maintenance & Repairs 177.25
Total Automobile 604.87
Bank Service Charges 33.00Delivery Fee 25.00Insurance
Disability 50.00Liability 285.00Worker's Comp 210.00Insurance - Other 100.00
Total Insurance 645.00
Interest Expense 203.06
Job ExpensesJob Materials
Decks & Patio -150.00Fountains & Garden Lighting 1,150.00Plants & Sod -25.00
Total Job Materials 975.00
Permits 0.00Subcontractors -575.00
Total Job Expenses 400.00
Mileage Reimbursement 0.00Professional Fees
Legal 375.00
Total Professional Fees 375.00
Rent 800.00Repairs
Equipment Repairs 45.00
Total Repairs 45.00
Tools and Misc. Equipment 716.05Uncategorized Expenses 0.00Utilities
Gas and Electric 146.45Telephone 59.96Water 28.05
Total Utilities 234.46
Total Expense 20,292.71
Net Ordinary Income -2,190.00
Other Income/ExpenseOther Income
Misc Income 720.00Interest Income 15.00
Total Other Income 735.00
Net Other Income 735.00
Net Income -1,455.00
1:58 PM Larry Wadford's Landscaping & Garden Supply12/15/19 Profit & LossAccrual Basis November 2019
Page 1
Exhibit 3
Nov 19
OPERATING ACTIVITIESNet Income -1,455.00Adjustments to reconcile Net Incometo net cash provided by operations:
Accounts Receivable -7,235.23Prepaid Insurance 100.00Inventory Asset -1,524.94Accounts Payable 5,814.67QuickBooks Credit Card:QBCC Field Office 45.00QuickBooks Credit Card:QBCC Home Office 25.00Payroll Liabilities -2.36Sales Tax Payable 433.81
Net cash provided by Operating Activities -3,799.05
FINANCING ACTIVITIESBank of Anycity Loan -435.43Equipment Loan -216.61Bank Loan -638.15Owner's Equity:Owner's Draw -2,500.00
Net cash provided by Financing Activities -3,790.19
Net cash increase for period -7,589.24
Cash at beginning of period 22,371.86
Cash at end of period 14,782.62
1:59 PM Larry Wadford's Landscaping & Garden Supply12/15/19 Statement of Cash Flows
November 2019
Page 1
Exhibit 4
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Checking 1,651.63Check 11/01/2019 1091 Nye Properties X Rent 800.00 851.63Transfer 11/01/2019 Funds Transfer X Savings 7,000.00 7,851.63Bill Pmt -Check 11/01/2019 1092 Great Statewide Bank X Accounts Payable 699.12 7,152.51Sales Tax Payment 11/02/2019 1093 State Board of Equali... ABCD 11-2345... X -SPLIT- 198.04 6,954.47Paycheck 11/03/2019 Duncan Fisher Landscapi... -SPLIT- 1,110.03 5,844.44Paycheck 11/03/2019 Jenny Miller Design -SPLIT- 1,200.17 4,644.27Paycheck 11/03/2019 Shane B. Hamby Overhead -SPLIT- 1,609.83 3,034.44Check 11/05/2019 1094 Townley Insurance Ag... X -SPLIT- 545.00 2,489.44Deposit 11/07/2019 Deposit X -SPLIT- 736.00 3,225.44Sales Receipt 11/07/2019 14 Retail Sales X -SPLIT- 33.68 3,259.12Liability Check 11/07/2019 Employment Develop... 94-785421 -SPLIT- 527.39 2,731.73Liability Check 11/07/2019 Great Statewide Bank 00-1111100 -SPLIT- 2,690.46 41.27Liability Check 11/07/2019 Townley Insurance Ag... 786-35-009-201 Payroll Liabilities 105.00 -63.73Deposit 11/10/2019 Deposit X -SPLIT- 1,450.00 1,386.27Bill Pmt -Check 11/10/2019 1098 Cal Telephone 415-555-9876-... X Accounts Payable 45.00 1,341.27Payment 11/11/2019 Tumacder, Jacint X Accounts Recei... 180.00 1,521.27Payment 11/11/2019 8553 Lochrie, Steven X Accounts Recei... 270.00 1,791.27Deposit 11/13/2019 Deposit X -SPLIT- 2,780.00 4,571.27Bill Pmt -Check 11/14/2019 1099 Bayshore Water 370C-99336622 X Accounts Payable 28.05 4,543.22Payment 11/14/2019 5646 Perry, Dave X Accounts Recei... 250.00 4,793.22Check 11/15/2019 1102 Cal Telephone X Telephone 59.96 4,733.26Bill Pmt -Check 11/15/2019 1100 Nolan Hardware and ... 5-487 X Accounts Payable 500.00 4,233.26Bill Pmt -Check 11/15/2019 1101 Patio & Desk Designs DE-0918 X Accounts Payable 375.00 3,858.26Check 11/15/2019 1104 VOID: X Uncategorized ... 0.00 3,858.26Paycheck 11/17/2019 Duncan Fisher Landscapi... -SPLIT- 1,163.71 2,694.55Paycheck 11/17/2019 Jenny Miller Design -SPLIT- 1,200.17 1,494.38Paycheck 11/17/2019 Shane B. Hamby Overhead -SPLIT- 1,606.87 -112.49Payment 11/18/2019 3250 Golliday Sporting Goo... X Accounts Recei... 150.00 37.51Check 11/18/2019 ATM Withdrawal X Tools and Misc. ... 100.00 -62.49Deposit 11/20/2019 Deposit X -SPLIT- 3,983.93 3,921.44Bill Pmt -Check 11/21/2019 1107 Cal Gas & Electric 769369-370R X Accounts Payable 146.45 3,774.99Deposit 11/21/2019 Deposit X -SPLIT- 743.50 4,518.49Deposit 11/21/2019 Deposit X -SPLIT- 3,236.60 7,755.09Check 11/22/2019 1460 Bank of Anycity Accnt#4467-98... -SPLIT- 244.13 7,510.96Check 11/24/2019 Debit Great Statewide Bank Monthly Accou... X Bank Service C... 18.00 7,492.96Transfer 11/25/2019 Funds Transfer Savings 5,000.00 12,492.96Check 11/25/2019 1108 Great Statewide Bank X Bank Service C... 7.50 12,485.46Sales Receipt 11/25/2019 17 Retail Sales X -SPLIT- 64.60 12,550.06Payment 11/26/2019 526 Williams, Abraham X Accounts Recei... 1,000.00 13,550.06Deposit 11/28/2019 Deposit X Undeposited Fu... 413.95 13,964.01Deposit 11/28/2019 Deposit X -SPLIT- 760.00 14,724.01Check 11/28/2019 1462 Bank of Anycity Accnt#4467-66... -SPLIT- 550.00 14,174.01Check 11/29/2019 1112 Bayshore CalOil Servi... CalOil Card 177.25 13,996.76Bill Pmt -Check 11/30/2019 1113 City of Middlefield MO-890k Accounts Payable 125.00 13,871.76Check 11/30/2019 1117 Larry Wadford Owner's Draw 2,500.00 11,371.76Bill Pmt -Check 11/30/2019 1116 Nolan Hardware and ... 5-487 Accounts Payable 792.70 10,579.06Bill Pmt -Check 11/30/2019 1114 Gussman's Nursery 1V-2345-00 Accounts Payable 375.00 10,204.06Bill Pmt -Check 11/30/2019 1115 Patio & Desk Designs DE-0918 Accounts Payable 600.00 9,604.06Sales Receipt 11/30/2019 19 Jasmine Park -SPLIT- 775.80 10,379.86Check 11/30/2019 1464 Larry Wadford Payroll Expenses 5,000.00 5,379.86
Total Checking 28,828.06 25,099.83 5,379.86
11:03 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 1Exhibit 5
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Cash Expenditures 225.23Total Cash Expenditures 225.23
Savings 20,495.00Transfer 11/01/2019 Funds Transfer X Checking 7,000.00 13,495.00Transfer 11/25/2019 Funds Transfer X Checking 5,000.00 8,495.00Check 11/25/2019 Debit Great Statewide Bank Savings # 022... X Bank Service C... 7.50 8,487.50
Total Savings 0.00 12,007.50 8,487.50
Accounts Receivable 13,893.18Invoice 11/01/2019 89 Middlefield Elementar... Landscapi... -SPLIT- 355.00 14,248.18Invoice 11/01/2019 90 Jim's Family Store Landscapi... -SPLIT- 2,218.95 16,467.13Payment 11/03/2019 1900 Lo, David:4631 W Ind... Undeposited Fu... 316.00 16,151.13Payment 11/04/2019 1212 Corcoran, Carol Undeposited Fu... 240.00 15,911.13Invoice 11/05/2019 91 Williams, Abraham Landscapi... -SPLIT- 3,294.89 19,206.02Payment 11/06/2019 Balak, Mike:330 Main ... Undeposited Fu... 180.00 19,026.02Invoice 11/08/2019 92 Lee, Laurel:Lee Adver... Landscapi... -SPLIT- 1,054.22 20,080.24Invoice 11/09/2019 93 Ecker Design Design -SPLIT- 1,900.00 21,980.24Invoice 11/10/2019 94 Hermann, Jennifer:Re... Maintenan... -SPLIT- 35.00 22,015.24Payment 11/10/2019 325 Jim's Family Store Undeposited Fu... 600.00 21,415.24Payment 11/10/2019 325 Crenshaw, Bob Undeposited Fu... 700.00 20,715.24Payment 11/10/2019 3205 Golliday Sporting Goo... Undeposited Fu... 150.00 20,565.24Invoice 11/11/2019 95 Tumacder, Jacint Maintenan... -SPLIT- 180.00 20,745.24Invoice 11/11/2019 96 Walker, Rich Maintenan... -SPLIT- 185.00 20,930.24Payment 11/11/2019 1164 Blackwell, Edward Undeposited Fu... 480.00 20,450.24Payment 11/11/2019 8368 Jim's Family Store Undeposited Fu... 1,500.00 18,950.24Payment 11/11/2019 Tumacder, Jacint Checking 180.00 18,770.24Payment 11/11/2019 8553 Lochrie, Steven Checking 270.00 18,500.24Invoice 11/12/2019 97 Gregory, Dru Landscapi... -SPLIT- 784.16 19,284.40Invoice 11/13/2019 98 Pretell, Erika:Residen... Design -SPLIT- 550.00 19,834.40Payment 11/13/2019 Lee, Laurel:Lee Resid... Undeposited Fu... 700.00 19,134.40Invoice 11/14/2019 99 Golliday Sporting Goo... Landscapi... -SPLIT- 518.52 19,652.92Payment 11/14/2019 5646 Perry, Dave Checking 250.00 19,402.92Invoice 11/15/2019 100 Golliday Sporting Goo... Landscapi... -SPLIT- 150.00 19,552.92Invoice 11/15/2019 101 Andres, Cristina -SPLIT- 108.50 19,661.42Invoice 11/15/2019 102 Lo, David:4631 W Ind... Maintenan... -SPLIT- 193.00 19,854.42Invoice 11/15/2019 134 Blackwell, Edward -SPLIT- 1,125.00 20,979.42Invoice 11/17/2019 103 Pretell, Erika:Residen... Landscapi... -SPLIT- 2,547.44 23,526.86Payment 11/17/2019 3006 Andres, Cristina Undeposited Fu... 108.50 23,418.36Invoice 11/18/2019 140 Julie's Doll House -SPLIT- 40.00 23,458.36Invoice 11/18/2019 141 Adam's Candy Shop -SPLIT- 40.00 23,498.36Payment 11/18/2019 3250 Golliday Sporting Goo... Checking 150.00 23,348.36Payment 11/18/2019 9147 Lee, Laurel:Lee Adver... Undeposited Fu... 600.00 22,748.36Payment 11/19/2019 6436 McCale, Ron:Residen... Undeposited Fu... 277.51 22,470.85Payment 11/19/2019 6568 Crenshaw, Bob Undeposited Fu... 1,459.09 21,011.76Payment 11/20/2019 3205 Ecker Design Undeposited Fu... 1,900.00 19,111.76Payment 11/20/2019 305 Lee, Laurel:Lee Resid... Undeposited Fu... 1,500.00 17,611.76Payment 11/20/2019 3250 Golliday Sporting Goo... Undeposited Fu... 583.93 17,027.83Payment 11/20/2019 3472 Hermann, Jennifer:Re... Undeposited Fu... 35.00 16,992.83Payment 11/20/2019 7536 Pretell, Erika:Residen... Undeposited Fu... 1,500.00 15,492.83Invoice 11/24/2019 104 Hughes, David Design -SPLIT- 850.00 16,342.83Invoice 11/25/2019 105 Leon, Richard Landscapi... -SPLIT- 135.00 16,477.83Invoice 11/25/2019 106 Lee, Laurel:Lee Resid... Landscapi... -SPLIT- 1,724.84 18,202.67Invoice 11/25/2019 107 Rosenstock, Amy Maintenan... -SPLIT- 845.73 19,048.40Invoice 11/25/2019 135 Crenshaw, Bob -SPLIT- 1,575.00 20,623.40
11:03 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 2
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Payment 11/26/2019 526 Williams, Abraham Checking 1,000.00 19,623.40Payment 11/26/2019 3754 Blackwell, Edward Undeposited Fu... 480.00 19,143.40Payment 11/28/2019 Balak, Mike:330 Main ... Undeposited Fu... 180.00 18,963.40Payment 11/28/2019 Jim's Family Store Undeposited Fu... 413.95 18,549.45Invoice 11/30/2019 108 Golliday Sporting Goo... Landscapi... -SPLIT- 300.00 18,849.45Invoice 11/30/2019 109 Golliday Sporting Goo... Landscapi... -SPLIT- 150.00 18,999.45Invoice 11/30/2019 110 Leon, Richard Design -SPLIT- 1,390.00 20,389.45Invoice 11/30/2019 111 Ecker Design Landscapi... -SPLIT- 4,047.96 24,437.41Invoice 11/30/2019 112 Lo, David:4631 W Ind... Maintenan... -SPLIT- 316.00 24,753.41Invoice 11/30/2019 113 Corcoran, Carol Maintenan... -SPLIT- 240.00 24,993.41Invoice 11/30/2019 114 Blackwell, Edward Maintenan... -SPLIT- 480.00 25,473.41Invoice 11/30/2019 115 Cheknis, Benjamin Maintenan... -SPLIT- 300.00 25,773.41Invoice 11/30/2019 116 Balak, Mike:330 Main ... Maintenan... -SPLIT- 180.00 25,953.41Invoice 11/30/2019 117 Molotsi, Hugh:6856 O... -SPLIT- 160.00 26,113.41Invoice 11/30/2019 FC 5 Balak, Mike:Residential INVOICE -SPLIT- 5.00 26,118.41Invoice 11/30/2019 FC 6 Chapman, Natalie INVOICE -SPLIT- 5.00 26,123.41Invoice 11/30/2019 FC 7 Morearty, Brian INVOICE -SPLIT- 5.00 26,128.41General Journal 11/30/2019 A108 * Adjustment Installation 5,000.00 21,128.41
Total Accounts Receivable 27,989.21 20,753.98 21,128.41
Prepaid Insurance 600.00General Journal 11/30/2019 A107 * nov portion of r... Insurance 100.00 500.00
Total Prepaid Insurance 0.00 100.00 500.00
Employee advances 100.00Total Employee advances 100.00
Inventory Asset 6,853.60Bill 11/05/2019 Nolan Hardware and ... -MULTIPLE- Design Accounts Payable 254.75 7,108.35Invoice 11/05/2019 91 Williams, Abraham -MULTIPLE- Landscapi... Accounts Recei... 393.83 6,714.52Invoice 11/08/2019 92 Lee, Laurel:Lee Adver... Fountain pump Landscapi... Accounts Recei... 53.66 6,660.86Invoice 11/12/2019 97 Gregory, Dru 1/2" Vinyl Irrig... Landscapi... Accounts Recei... 9.84 6,651.02Invoice 11/14/2019 99 Golliday Sporting Goo... Fountain pump Landscapi... Accounts Recei... 53.66 6,597.36Sales Receipt 11/20/2019 16 Retail Sales Garden Lighting Landscapi... Undeposited Fu... 14.81 6,582.55Invoice 11/25/2019 106 Lee, Laurel:Lee Resid... Fountain pump Landscapi... Accounts Recei... 53.66 6,528.89Bill 11/28/2019 Conner Garden Suppl... Plastic sprinkle... Accounts Payable 2,835.00 9,363.89Invoice 11/30/2019 111 Ecker Design -MULTIPLE- Landscapi... Accounts Recei... 959.81 8,404.08Inventory Adjust 11/30/2019 1 Sprinkler Hds I... X Sprinklers & Dri... 25.54 8,378.54
Total Inventory Asset 3,089.75 1,564.81 8,378.54
11:03 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 3
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Undeposited Funds 0.00Payment 11/03/2019 1900 Lo, David:4631 W Ind... X Accounts Recei... 316.00 316.00Payment 11/04/2019 1212 Corcoran, Carol X Accounts Recei... 240.00 556.00Payment 11/06/2019 Balak, Mike:330 Main ... X Accounts Recei... 180.00 736.00Deposit 11/07/2019 1900 -MULTIPLE- Deposit X Checking 736.00 0.00Sales Receipt 11/10/2019 15 Crider, Craig Landscapi... X -SPLIT- 100.00 100.00Payment 11/10/2019 325 Jim's Family Store X Accounts Recei... 600.00 700.00Payment 11/10/2019 325 Crenshaw, Bob X Accounts Recei... 700.00 1,400.00Payment 11/10/2019 3205 Golliday Sporting Goo... X Accounts Recei... 150.00 1,550.00Deposit 11/10/2019 325 -MULTIPLE- Deposit X Checking 1,450.00 100.00Payment 11/11/2019 1164 Blackwell, Edward X Accounts Recei... 480.00 580.00Payment 11/11/2019 8368 Jim's Family Store X Accounts Recei... 1,500.00 2,080.00Payment 11/13/2019 Lee, Laurel:Lee Resid... X Accounts Recei... 700.00 2,780.00Deposit 11/13/2019 6730 -MULTIPLE- Deposit -MULTIPLE- X Checking 2,780.00 0.00Payment 11/17/2019 3006 Andres, Cristina X Accounts Recei... 108.50 108.50Payment 11/18/2019 9147 Lee, Laurel:Lee Adver... X Accounts Recei... 600.00 708.50Payment 11/19/2019 6436 McCale, Ron:Residen... X Accounts Recei... 277.51 986.01Payment 11/19/2019 6568 Crenshaw, Bob X Accounts Recei... 1,459.09 2,445.10Payment 11/20/2019 3205 Ecker Design X Accounts Recei... 1,900.00 4,345.10Payment 11/20/2019 305 Lee, Laurel:Lee Resid... X Accounts Recei... 1,500.00 5,845.10Payment 11/20/2019 3250 Golliday Sporting Goo... X Accounts Recei... 583.93 6,429.03Deposit 11/20/2019 3205 -MULTIPLE- Deposit X Checking 3,983.93 2,445.10Sales Receipt 11/20/2019 16 Retail Sales Landscapi... X -SPLIT- 690.03 3,135.13Payment 11/20/2019 3472 Hermann, Jennifer:Re... X Accounts Recei... 35.00 3,170.13Payment 11/20/2019 7536 Pretell, Erika:Residen... X Accounts Recei... 1,500.00 4,670.13Deposit 11/21/2019 3006 -MULTIPLE- Deposit X Checking 743.50 3,926.63Deposit 11/21/2019 6436 -MULTIPLE- Deposit X Checking 3,236.60 690.03Sales Receipt 11/25/2019 18 Crider, Craig Landscapi... X -SPLIT- 100.00 790.03Payment 11/26/2019 3754 Blackwell, Edward X Accounts Recei... 480.00 1,270.03Payment 11/28/2019 Balak, Mike:330 Main ... X Accounts Recei... 180.00 1,450.03Payment 11/28/2019 Jim's Family Store X Accounts Recei... 413.95 1,863.98Deposit 11/28/2019 Jim's Family Store Deposit X Checking 413.95 1,450.03Deposit 11/28/2019 6764 -MULTIPLE- Deposit -MULTIPLE- X Checking 760.00 690.03
Total Undeposited Funds 14,794.01 14,103.98 690.03
Truck 12,025.00Accumulated Depreciation -1,725.00Total Accumulated Depreciation -1,725.00
Original Purchase 13,750.00Total Original Purchase 13,750.00
Total Truck 12,025.00
TOTAL 74,701.03 73,630.10 56,914.57
11:03 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 4
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Accounts Payable 3,944.27Bill Pmt -Check 11/01/2019 1092 Great Statewide Bank Checking 699.12 3,245.15Bill 11/03/2019 125-78... Robert Carr Masonry Fountains & Gar... 675.00 3,920.15Bill 11/04/2019 11/03 Bayshore Water Acct #370C-9... Water 28.05 3,948.20Bill 11/05/2019 Nolan Hardware and ... -SPLIT- 254.75 4,202.95Bill Pmt -Check 11/10/2019 1098 Cal Telephone 415-555-9876-... Checking 45.00 4,157.95Bill 11/14/2019 11/03 Cal Gas & Electric Gas and Electric 146.45 4,304.40Bill Pmt -Check 11/14/2019 1099 Bayshore Water 370C-99336622 Checking 28.05 4,276.35Bill Pmt -Check 11/15/2019 1100 Nolan Hardware and ... 5-487 Checking 500.00 3,776.35Bill Pmt -Check 11/15/2019 1101 Patio & Desk Designs DE-0918 Checking 375.00 3,401.35Bill 11/17/2019 15 Great Statewide Bank -SPLIT- 699.12 4,100.47Bill 11/18/2019 Sena Lumber & Buildi... -SPLIT- 1,400.00 5,500.47Bill 11/18/2019 Conner Garden Suppl... -SPLIT- 475.00 5,975.47Bill 11/20/2019 Patio & Desk Designs Subcontractors 1,150.00 7,125.47Bill Pmt -Check 11/21/2019 1107 Cal Gas & Electric 769369-370R Checking 146.45 6,979.02Bill 11/25/2019 City of Middlefield Permits 125.00 7,104.02Bill 11/25/2019 Smallson & Associates Legal 375.00 7,479.02Bill 11/25/2019 Townley Insurance Ag... Policy #86-600... Insurance 427.62 7,906.64Bill 11/27/2019 Nolan Hardware and ... Tools and Misc. ... 610.00 8,516.64Bill 11/28/2019 Sena Lumber & Buildi... -SPLIT- 325.00 8,841.64Bill 11/28/2019 Conner Garden Suppl... Inventory Asset 2,835.00 11,676.64Credit 11/29/2019 Gussman's Nursery Acct #1V-2345... Plants & Sod 25.00 11,651.64Bill Pmt -Check 11/30/2019 1113 City of Middlefield MO-890k Checking 125.00 11,526.64Bill Pmt -Check 11/30/2019 1116 Nolan Hardware and ... 5-487 Checking 792.70 10,733.94Bill Pmt -Check 11/30/2019 1114 Gussman's Nursery 1V-2345-00 Checking 375.00 10,358.94Bill Pmt -Check 11/30/2019 1115 Patio & Desk Designs DE-0918 Checking 600.00 9,758.94
Total Accounts Payable 3,711.32 9,525.99 9,758.94
CalOil Card 1,353.99Credit Card Charge 11/10/2019 Bayshore CalOil Servi... Maintenance & ... 125.00 1,478.99Credit Card Charge 11/12/2019 Bayshore CalOil Servi... Maintenance & ... 27.50 1,506.49Credit Card Charge 11/25/2019 Bayshore CalOil Servi... Lube, Oil & Filt... Maintenance & ... 24.75 1,531.24Check 11/29/2019 1112 Bayshore CalOil Servi... Checking 177.25 1,353.99
Total CalOil Card 177.25 177.25 1,353.99
QuickBooks Credit Card 0.00QBCC Field Office 0.00Credit Card Charge 11/25/2019 Mendoza Mechanical Equipment Rep... 45.00 45.00
Total QBCC Field Office 0.00 45.00 45.00
QBCC Home Office 0.00Credit Card Charge 11/30/2019 Mendoza Mechanical Tools and Misc. ... 25.00 25.00
Total QBCC Home Office 0.00 25.00 25.00
Total QuickBooks Credit Card 0.00 70.00 70.00
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 1
Exhibit 6
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Payroll Liabilities 4,132.65Paycheck 11/03/2019 Duncan Fisher Landscapi... Checking 375.54 4,508.19Paycheck 11/03/2019 Duncan Fisher Landscapi... Checking 0.00 4,508.19Paycheck 11/03/2019 Jenny Miller Design Checking 600.89 5,109.08Paycheck 11/03/2019 Jenny Miller Design Checking 0.00 5,109.08Paycheck 11/03/2019 Shane B. Hamby Overhead Checking 667.38 5,776.46Paycheck 11/03/2019 Shane B. Hamby Overhead Checking 0.00 5,776.46Liability Check 11/07/2019 Employment Develop... 94-785421 Checking 527.39 5,249.07Liability Check 11/07/2019 Great Statewide Bank 00-1111100 Checking 2,690.46 2,558.61Liability Check 11/07/2019 Townley Insurance Ag... 786-35-009-201 Checking 105.00 2,453.61Paycheck 11/17/2019 Duncan Fisher Landscapi... Checking 405.44 2,859.05Paycheck 11/17/2019 Duncan Fisher Landscapi... Checking 0.00 2,859.05Paycheck 11/17/2019 Jenny Miller Design Checking 600.90 3,459.95Paycheck 11/17/2019 Jenny Miller Design Checking 0.00 3,459.95Paycheck 11/17/2019 Shane B. Hamby Overhead Checking 670.34 4,130.29Paycheck 11/17/2019 Shane B. Hamby Overhead Checking 0.00 4,130.29
Total Payroll Liabilities 3,322.85 3,320.49 4,130.29
Payments on Account -1,520.00Total Payments on Account -1,520.00
Sales Tax Payable 1,566.97Invoice 11/01/2019 89 State Board of Equali... Landscapi... Accounts Recei... 0.00 1,566.97Invoice 11/01/2019 90 State Board of Equali... Landscapi... Accounts Recei... 0.00 1,566.97Sales Tax Payment 11/02/2019 1093 State Board of Equali... ABCD 11-2345... Checking 198.04 1,368.93Invoice 11/05/2019 91 State Board of Equali... Sales Tax - Sa... Landscapi... Accounts Recei... 98.89 1,467.82Sales Receipt 11/07/2019 14 State Board of Equali... CA sales tax, ... Checking 2.06 1,469.88Invoice 11/08/2019 92 State Board of Equali... Sales Tax - Sa... Landscapi... Accounts Recei... 60.72 1,530.60Invoice 11/09/2019 93 State Board of Equali... Sales Tax - Sa... Design Accounts Recei... 0.00 1,530.60Sales Receipt 11/10/2019 15 State Board of Equali... Sales Tax - Sa... Landscapi... Undeposited Fu... 0.00 1,530.60Invoice 11/10/2019 94 Hermann, Jennifer:Re... Out-of-state sa... Maintenan... Accounts Recei... 0.00 1,530.60Invoice 11/11/2019 95 State Board of Equali... Sales Tax - Sa... Maintenan... Accounts Recei... 0.00 1,530.60Invoice 11/11/2019 96 State Board of Equali... Sales Tax - Sa... Maintenan... Accounts Recei... 0.00 1,530.60Invoice 11/12/2019 97 State Board of Equali... Sales Tax - Sa... Landscapi... Accounts Recei... 17.92 1,548.52Invoice 11/13/2019 98 State Board of Equali... -MULTIPLE- Design Accounts Recei... 0.00 1,548.52Invoice 11/14/2019 99 State Board of Equali... Landscapi... Accounts Recei... 23.52 1,572.04Invoice 11/15/2019 100 State Board of Equali... Landscapi... Accounts Recei... 0.00 1,572.04Invoice 11/15/2019 101 State Board of Equali... Sales Tax - Sa... Accounts Recei... 0.00 1,572.04Invoice 11/15/2019 102 State Board of Equali... CA sales tax, ... Maintenan... Accounts Recei... 0.00 1,572.04Invoice 11/15/2019 134 State Board of Equali... Sales Tax - Sa... Accounts Recei... 0.00 1,572.04Invoice 11/17/2019 103 State Board of Equali... -MULTIPLE- Landscapi... Accounts Recei... 113.44 1,685.48Invoice 11/18/2019 140 State Board of Equali... CA sales tax, ... Accounts Recei... 0.00 1,685.48Invoice 11/18/2019 141 State Board of Equali... CA sales tax, ... Accounts Recei... 0.00 1,685.48Sales Receipt 11/20/2019 16 State Board of Equali... CA sales tax, ... Landscapi... Undeposited Fu... 25.03 1,710.51Invoice 11/24/2019 104 State Board of Equali... Sales Tax - Sa... Design Accounts Recei... 0.00 1,710.51Invoice 11/25/2019 105 State Board of Equali... Landscapi... Accounts Recei... 0.00 1,710.51Sales Receipt 11/25/2019 18 State Board of Equali... Sales Tax - Sa... Landscapi... Undeposited Fu... 0.00 1,710.51Invoice 11/25/2019 106 State Board of Equali... Sales Tax - Sa... Landscapi... Accounts Recei... 29.84 1,740.35Invoice 11/25/2019 107 State Board of Equali... Sales Tax - Sa... Maintenan... Accounts Recei... 10.23 1,750.58Sales Receipt 11/25/2019 17 State Board of Equali... CA sales tax, ... Checking 3.94 1,754.52Invoice 11/25/2019 135 State Board of Equali... -MULTIPLE- Accounts Recei... 0.00 1,754.52Invoice 11/30/2019 108 State Board of Equali... Landscapi... Accounts Recei... 0.00 1,754.52Invoice 11/30/2019 109 State Board of Equali... Landscapi... Accounts Recei... 0.00 1,754.52Invoice 11/30/2019 110 State Board of Equali... Design Accounts Recei... 0.00 1,754.52Invoice 11/30/2019 111 State Board of Equali... Sales Tax - Sa... Landscapi... Accounts Recei... 190.46 1,944.98
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 2
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Invoice 11/30/2019 112 State Board of Equali... CA sales tax, ... Maintenan... Accounts Recei... 0.00 1,944.98Invoice 11/30/2019 113 State Board of Equali... CA sales tax, ... Maintenan... Accounts Recei... 0.00 1,944.98Invoice 11/30/2019 114 State Board of Equali... Sales Tax - Sa... Maintenan... Accounts Recei... 0.00 1,944.98Invoice 11/30/2019 115 State Board of Equali... Sales Tax - Sa... Maintenan... Accounts Recei... 0.00 1,944.98Invoice 11/30/2019 116 State Board of Equali... Sales Tax - Sa... Maintenan... Accounts Recei... 0.00 1,944.98Invoice 11/30/2019 117 State Board of Equali... Sales Tax - Sa... Accounts Recei... 0.00 1,944.98Sales Receipt 11/30/2019 19 State Board of Equali... Sales Tax - Sa... Checking 55.80 2,000.78
Total Sales Tax Payable 198.04 631.85 2,000.78
Bank of Anycity Loan 20,368.08Check 11/28/2019 1462 Bank of Anycity Accnt#4467-66... Checking 435.43 19,932.65
Total Bank of Anycity Loan 435.43 0.00 19,932.65
Equipment Loan 4,127.93Check 11/22/2019 1460 Bank of Anycity Accnt#4467-98... Checking 216.61 3,911.32
Total Equipment Loan 216.61 0.00 3,911.32
Bank Loan 6,651.21Bill 11/17/2019 15 Great Statewide Bank Overhead Accounts Payable 638.15 6,013.06
Total Bank Loan 638.15 0.00 6,013.06
Opening Bal Equity 51,970.07Total Opening Bal Equity 51,970.07
Owner's Equity -2,500.00Owner's Draw -2,500.00Check 11/30/2019 1117 Larry Wadford Checking 2,500.00 -5,000.00
Total Owner's Draw 2,500.00 0.00 -5,000.00
Total Owner's Equity 2,500.00 0.00 -5,000.00
Retained Earnings -40,118.74Total Retained Earnings -40,118.74
Landscaping Services 19,388.20Design Services 7,000.00Invoice 11/09/2019 93 Ecker Design Custom Lands... Design Accounts Recei... 1,250.00 8,250.00Invoice 11/13/2019 98 Pretell, Erika:Residen... Custom Lands... Design Accounts Recei... 550.00 8,800.00Invoice 11/24/2019 104 Hughes, David Custom Lands... Design Accounts Recei... 850.00 9,650.00
Total Design Services 0.00 2,650.00 9,650.00
Job Materials 4,733.20Misc Materials 0.00
Invoice 11/12/2019 97 Gregory, Dru 1/2" Vinyl Irrig... Landscapi... Accounts Recei... 12.30 12.30
Total Misc Materials 0.00 12.30 12.30
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 3
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Fountains & Garden Lighting 1,937.95Invoice 11/05/2019 91 Williams, Abraham -MULTIPLE- Landscapi... Accounts Recei... 775.00 2,712.95Invoice 11/08/2019 92 Lee, Laurel:Lee Adver... -MULTIPLE- Landscapi... Accounts Recei... 783.50 3,496.45Invoice 11/14/2019 99 Golliday Sporting Goo... -MULTIPLE- Landscapi... Accounts Recei... 285.00 3,781.45Sales Receipt 11/20/2019 16 Retail Sales Garden Lighting Landscapi... Undeposited Fu... 175.00 3,956.45Invoice 11/25/2019 106 Lee, Laurel:Lee Resid... -MULTIPLE- Landscapi... Accounts Recei... 385.00 4,341.45Invoice 11/30/2019 111 Ecker Design Garden Lighting Landscapi... Accounts Recei... 500.00 4,841.45
Total Fountains & Garden Lighting 0.00 2,903.50 4,841.45
Plants and Sod 2,162.25Invoice 11/12/2019 97 Gregory, Dru Citrus Tree - 5... Landscapi... Accounts Recei... 210.00 2,372.25Sales Receipt 11/20/2019 16 Retail Sales Flowering Plants Landscapi... Undeposited Fu... 210.00 2,582.25Invoice 11/25/2019 107 Rosenstock, Amy Citrus Tree - 5... Maintenan... Accounts Recei... 132.00 2,714.25Invoice 11/30/2019 111 Ecker Design Flowering plant... Landscapi... Accounts Recei... 720.00 3,434.25
Total Plants and Sod 0.00 1,272.00 3,434.25
Sprinklers & Drip systems 633.00Invoice 11/05/2019 91 Williams, Abraham -MULTIPLE- Landscapi... Accounts Recei... 501.00 1,134.00Invoice 11/30/2019 111 Ecker Design Plastic sprinkle... Landscapi... Accounts Recei... 1,237.50 2,371.50Inventory Adjust 11/30/2019 1 Four sprinkler ... Landscapi... Inventory Asset 25.54 2,345.96
Total Sprinklers & Drip systems 25.54 1,738.50 2,345.96
Total Job Materials 25.54 5,926.30 10,633.96
Labor 7,655.00Installation 5,866.00
Invoice 11/01/2019 89 Middlefield Elementar... -MULTIPLE- Landscapi... Accounts Recei... 355.00 6,221.00Invoice 11/01/2019 90 Jim's Family Store Installation of l... Landscapi... Accounts Recei... 1,680.00 7,901.00Invoice 11/05/2019 91 Williams, Abraham Installation of l... Landscapi... Accounts Recei... 1,920.00 9,821.00Invoice 11/08/2019 92 Lee, Laurel:Lee Adver... Installation of l... Landscapi... Accounts Recei... 210.00 10,031.00Sales Receipt 11/10/2019 15 Crider, Craig Bi-weekly gard... Landscapi... Undeposited Fu... 100.00 10,131.00Invoice 11/10/2019 94 Hermann, Jennifer:Re... Contract garde... Maintenan... Accounts Recei... 35.00 10,166.00Invoice 11/12/2019 97 Gregory, Dru Installation of l... Landscapi... Accounts Recei... 455.00 10,621.00Invoice 11/14/2019 99 Golliday Sporting Goo... Installation of l... Landscapi... Accounts Recei... 210.00 10,831.00Invoice 11/15/2019 100 Golliday Sporting Goo... Bi-weekly gard... Landscapi... Accounts Recei... 150.00 10,981.00Invoice 11/15/2019 134 Blackwell, Edward Weekly garden... Accounts Recei... 200.00 11,181.00Invoice 11/17/2019 103 Pretell, Erika:Residen... Installation of l... Landscapi... Accounts Recei... 684.00 11,865.00Invoice 11/18/2019 140 Julie's Doll House Weekly garden... Accounts Recei... 40.00 11,905.00Invoice 11/18/2019 141 Adam's Candy Shop Weekly garden... Accounts Recei... 40.00 11,945.00Sales Receipt 11/20/2019 16 Retail Sales Installation of l... Landscapi... Undeposited Fu... 280.00 12,225.00Invoice 11/25/2019 105 Leon, Richard Monthly garde... Landscapi... Accounts Recei... 100.00 12,325.00Sales Receipt 11/25/2019 18 Crider, Craig Bi-weekly gard... Landscapi... Undeposited Fu... 100.00 12,425.00Invoice 11/25/2019 106 Lee, Laurel:Lee Resid... Installation of l... Landscapi... Accounts Recei... 1,310.00 13,735.00Invoice 11/25/2019 107 Rosenstock, Amy Installation of l... Maintenan... Accounts Recei... 35.00 13,770.00Invoice 11/25/2019 135 Crenshaw, Bob Weekly garden... Accounts Recei... 125.00 13,895.00Invoice 11/30/2019 108 Golliday Sporting Goo... Monthly garde... Landscapi... Accounts Recei... 225.00 14,120.00Invoice 11/30/2019 109 Golliday Sporting Goo... Bi-weekly gard... Landscapi... Accounts Recei... 150.00 14,270.00Invoice 11/30/2019 111 Ecker Design Installation of l... Landscapi... Accounts Recei... 1,400.00 15,670.00Invoice 11/30/2019 112 Lo, David:4631 W Ind... Weekly garden... Maintenan... Accounts Recei... 316.00 15,986.00Invoice 11/30/2019 113 Corcoran, Carol Weekly garden... Maintenan... Accounts Recei... 240.00 16,226.00Invoice 11/30/2019 114 Blackwell, Edward Weekly garden... Maintenan... Accounts Recei... 480.00 16,706.00Invoice 11/30/2019 115 Cheknis, Benjamin Weekly garden... Maintenan... Accounts Recei... 300.00 17,006.00Invoice 11/30/2019 116 Balak, Mike:330 Main ... Weekly garden... Maintenan... Accounts Recei... 140.00 17,146.00
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 4
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Invoice 11/30/2019 117 Molotsi, Hugh:6856 O... Weekly garden... Accounts Recei... 160.00 17,306.00General Journal 11/30/2019 A108 * Accounts Recei... 5,000.00 12,306.00
Total Installation 5,000.00 11,440.00 12,306.00
Maintenance & Repairs 1,789.00Invoice 11/11/2019 95 Tumacder, Jacint -MULTIPLE- Maintenan... Accounts Recei... 180.00 1,969.00Invoice 11/11/2019 96 Walker, Rich -MULTIPLE- Maintenan... Accounts Recei... 185.00 2,154.00Invoice 11/12/2019 97 Gregory, Dru Tree and shrub... Landscapi... Accounts Recei... 80.00 2,234.00Invoice 11/15/2019 101 Andres, Cristina -MULTIPLE- Accounts Recei... 108.50 2,342.50Invoice 11/15/2019 102 Lo, David:4631 W Ind... -MULTIPLE- Maintenan... Accounts Recei... 193.00 2,535.50Invoice 11/15/2019 134 Blackwell, Edward Tree and shrub... Accounts Recei... 175.00 2,710.50Invoice 11/25/2019 105 Leon, Richard Sprayed fruit tr... Landscapi... Accounts Recei... 35.00 2,745.50Invoice 11/25/2019 107 Rosenstock, Amy Pest control se... Maintenan... Accounts Recei... 68.50 2,814.00Invoice 11/25/2019 135 Crenshaw, Bob Tree and shrub... Accounts Recei... 350.00 3,164.00Invoice 11/30/2019 108 Golliday Sporting Goo... Tree and shrub... Landscapi... Accounts Recei... 75.00 3,239.00Invoice 11/30/2019 116 Balak, Mike:330 Main ... Pest control se... Maintenan... Accounts Recei... 40.00 3,279.00
Total Maintenance & Repairs 0.00 1,490.00 3,279.00
Total Labor 5,000.00 12,930.00 15,585.00
Total Landscaping Services 5,025.54 21,506.30 35,868.96
Markup Income 85.00Invoice 11/01/2019 90 Jim's Family Store Markup Accounts Recei... 70.00 155.00Invoice 11/09/2019 93 Ecker Design Markup Accounts Recei... 75.00 230.00Invoice 11/17/2019 103 Pretell, Erika:Residen... Markup Accounts Recei... 350.00 580.00General Journal 11/30/2019 Allocate unclas... Markup Income 260.00 320.00General Journal 11/30/2019 Allocate unclas... Landscapi... Markup Income 260.00 580.00Invoice 11/30/2019 110 Leon, Richard Markup Accounts Recei... 115.00 695.00
Total Markup Income 260.00 870.00 695.00
Retail Sales 192.44Sales Receipt 11/07/2019 14 Retail Sales -MULTIPLE- Checking 31.62 224.06Invoice 11/12/2019 97 Gregory, Dru Plant & Tree F... Landscapi... Accounts Recei... 8.94 233.00Sales Receipt 11/25/2019 17 Retail Sales -MULTIPLE- Checking 60.66 293.66
Total Retail Sales 0.00 101.22 293.66
Service 2,690.00Invoice 11/15/2019 134 Blackwell, Edward Tree Removal ... Accounts Recei... 750.00 3,440.00Invoice 11/25/2019 107 Rosenstock, Amy Tree Removal ... Maintenan... Accounts Recei... 600.00 4,040.00Invoice 11/25/2019 135 Crenshaw, Bob Tree Removal ... Accounts Recei... 1,100.00 5,140.00
Total Service 0.00 2,450.00 5,140.00
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 5
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Cost of Goods Sold -903.52Invoice 11/05/2019 91 Williams, Abraham -MULTIPLE- Landscapi... Accounts Recei... 393.83 -1,297.35Invoice 11/08/2019 92 Lee, Laurel:Lee Adver... Fountain pump Landscapi... Accounts Recei... 53.66 -1,351.01Invoice 11/12/2019 97 Gregory, Dru 1/2" Vinyl Irrig... Landscapi... Accounts Recei... 9.84 -1,360.85Invoice 11/14/2019 99 Golliday Sporting Goo... Fountain pump Landscapi... Accounts Recei... 53.66 -1,414.51Sales Receipt 11/20/2019 16 Retail Sales Garden Lighting Landscapi... Undeposited Fu... 14.81 -1,429.32Invoice 11/25/2019 106 Lee, Laurel:Lee Resid... Fountain pump Landscapi... Accounts Recei... 53.66 -1,482.98Invoice 11/30/2019 111 Ecker Design -MULTIPLE- Landscapi... Accounts Recei... 959.81 -2,442.79
Total Cost of Goods Sold 1,539.27 0.00 -2,442.79
Payroll Expenses -11,183.41Paycheck 11/03/2019 Duncan Fisher Landscapi... Checking 1,485.57 -12,668.98Paycheck 11/03/2019 Jenny Miller Design Checking 1,801.06 -14,470.04Paycheck 11/03/2019 Shane B. Hamby Overhead Checking 2,277.21 -16,747.25Paycheck 11/17/2019 Duncan Fisher Landscapi... Checking 1,569.15 -18,316.40Paycheck 11/17/2019 Jenny Miller Design Checking 1,801.07 -20,117.47Paycheck 11/17/2019 Shane B. Hamby Overhead Checking 2,277.21 -22,394.68Check 11/30/2019 1464 Larry Wadford Checking 5,000.00 -27,394.68
Total Payroll Expenses 16,211.27 0.00 -27,394.68
Automobile -83.18Insurance 0.00Bill 11/25/2019 Townley Insurance Ag... 6 months prem... Overhead Accounts Payable 427.62 -427.62
Total Insurance 427.62 0.00 -427.62
Fuel -55.93Total Fuel -55.93
Maintenance & Repairs -27.25Credit Card Charge 11/10/2019 Bayshore CalOil Servi... Landscapi... CalOil Card 125.00 -152.25Credit Card Charge 11/12/2019 Bayshore CalOil Servi... Radiator Flush ... Landscapi... CalOil Card 27.50 -179.75Credit Card Charge 11/25/2019 Bayshore CalOil Servi... Lube, Oil & Filt... Landscapi... CalOil Card 24.75 -204.50
Total Maintenance & Repairs 177.25 0.00 -204.50
Total Automobile 604.87 0.00 -688.05
Bank Service Charges -40.50Check 11/24/2019 Debit Great Statewide Bank Service Charge Overhead Checking 18.00 -58.50Check 11/25/2019 1108 Great Statewide Bank Service Charge Overhead Checking 7.50 -66.00Check 11/25/2019 Debit Great Statewide Bank Monthly Servic... Overhead Savings 7.50 -73.50
Total Bank Service Charges 33.00 0.00 -73.50
Delivery Fee -15.00Invoice 11/17/2019 103 Pretell, Erika:Residen... Delivery Fee Landscapi... Accounts Recei... 25.00 10.00Bill 11/18/2019 Pretell, Erika:Residen... Delivery Fee Landscapi... Accounts Payable 25.00 -15.00Bill 11/28/2019 Pretell, Erika:Residen... Delivery Fee Landscapi... Accounts Payable 25.00 -40.00
Total Delivery Fee 50.00 25.00 -40.00
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 6
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Insurance -645.00Disability -50.00Check 11/05/2019 1094 Townley Insurance Ag... Overhead Checking 50.00 -100.00
Total Disability 50.00 0.00 -100.00
Liability -285.00Check 11/05/2019 1094 Townley Insurance Ag... Overhead Checking 285.00 -570.00
Total Liability 285.00 0.00 -570.00
Worker's Comp -210.00Check 11/05/2019 1094 Townley Insurance Ag... Overhead Checking 210.00 -420.00
Total Worker's Comp 210.00 0.00 -420.00
Insurance - Other -100.00General Journal 11/30/2019 A107 * nov portion of r... Prepaid Insurance 100.00 -200.00
Total Insurance - Other 100.00 0.00 -200.00
Total Insurance 645.00 0.00 -1,290.00
Interest Expense -212.73Bill 11/17/2019 15 Great Statewide Bank Overhead Accounts Payable 60.97 -273.70Check 11/22/2019 1460 Bank of Anycity Accnt#4467-98... Checking 27.52 -301.22Check 11/28/2019 1462 Bank of Anycity Accnt#4467-66... Checking 114.57 -415.79
Total Interest Expense 203.06 0.00 -415.79
Job Expenses -2,447.25Job Materials -1,497.25
Decks & Patio -450.00Invoice 11/01/2019 90 Jim's Family Store Redwood deck... Landscapi... Accounts Recei... 450.00 0.00Invoice 11/17/2019 103 Pretell, Erika:Residen... Rough Lumber Landscapi... Accounts Recei... 1,375.00 1,375.00Bill 11/18/2019 Pretell, Erika:Residen... Rough Lumber Landscapi... Accounts Payable 1,375.00 0.00Bill 11/28/2019 Pretell, Erika:Residen... Rough Lumber Landscapi... Accounts Payable 300.00 -300.00
Total Decks & Patio 1,675.00 1,825.00 -300.00
Fountains & Garden Lighting 0.00Bill 11/03/2019 125-78... Robert Carr Masonry Custom rock fo... Landscapi... Accounts Payable 675.00 -675.00Bill 11/18/2019 -MULTIPLE- -MULTIPLE- Landscapi... Accounts Payable 475.00 -1,150.00
Total Fountains & Garden Lighting 1,150.00 0.00 -1,150.00
Plants & Sod -1,047.25Credit 11/29/2019 Gussman's Nursery Acct #1V-2345... Landscapi... Accounts Payable 25.00 -1,022.25
Total Plants & Sod 0.00 25.00 -1,022.25
Total Job Materials 2,825.00 1,850.00 -2,472.25
Permits 0.00Bill 11/25/2019 Leon, Richard Landscapi... Accounts Payable 125.00 -125.00Invoice 11/30/2019 110 Leon, Richard Permit from Cit... Landscapi... Accounts Recei... 125.00 0.00
Total Permits 125.00 125.00 0.00
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 7
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Subcontractors -950.00Invoice 11/09/2019 93 Ecker Design Design Accounts Recei... 575.00 -375.00Bill 11/20/2019 Leon, Richard Design Accounts Payable 1,150.00 -1,525.00Invoice 11/30/2019 110 Leon, Richard Design Accounts Recei... 1,150.00 -375.00
Total Subcontractors 1,150.00 1,725.00 -375.00
Total Job Expenses 4,100.00 3,700.00 -2,847.25
Mileage Reimbursement 0.00Paycheck 11/03/2019 Jenny Miller Design Checking 0.00 0.00Paycheck 11/17/2019 Jenny Miller Design Checking 0.00 0.00
Total Mileage Reimbursement 0.00 0.00 0.00
Professional Fees 0.00Legal 0.00Bill 11/25/2019 Smallson & Associates Overhead Accounts Payable 375.00 -375.00
Total Legal 375.00 0.00 -375.00
Total Professional Fees 375.00 0.00 -375.00
Rent -800.00Check 11/01/2019 1091 Nye Properties Overhead Checking 800.00 -1,600.00
Total Rent 800.00 0.00 -1,600.00
Repairs 0.00Equipment Repairs 0.00Credit Card Charge 11/25/2019 Mendoza Mechanical QBCC Field Offi... 45.00 -45.00
Total Equipment Repairs 45.00 0.00 -45.00
Total Repairs 45.00 0.00 -45.00
Tools and Misc. Equipment -18.95Invoice 11/01/2019 90 Jim's Family Store Misc. Supplies Landscapi... Accounts Recei... 18.95 0.00Check 11/18/2019 ATM Withdrawal Overhead Checking 100.00 -100.00Bill 11/27/2019 Nolan Hardware and ... Landscapi... Accounts Payable 610.00 -710.00Credit Card Charge 11/30/2019 Mendoza Mechanical QBCC Home Of... 25.00 -735.00
Total Tools and Misc. Equipment 735.00 18.95 -735.00
Uncategorized Expenses 0.00Check 11/15/2019 1104 VOID: Checking 0.00 0.00
Total Uncategorized Expenses 0.00 0.00 0.00
Utilities -215.32Gas and Electric -140.47Bill 11/14/2019 11/03 Cal Gas & Electric Overhead Accounts Payable 146.45 -286.92
Total Gas and Electric 146.45 0.00 -286.92
Telephone -45.00Check 11/15/2019 1102 Cal Telephone Overhead Checking 59.96 -104.96
Total Telephone 59.96 0.00 -104.96
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 8
Type Date Num Adj Name Memo Class Clr Split Debit Credit Balance
Water -29.85Bill 11/04/2019 11/03 Bayshore Water Acct #370C-9... Overhead Accounts Payable 28.05 -57.90
Total Water 28.05 0.00 -57.90
Total Utilities 234.46 0.00 -449.78
Misc Income 42.50Sales Receipt 11/30/2019 19 Jasmine Park In-ground sign... Checking 720.00 762.50
Total Misc Income 0.00 720.00 762.50
Interest Income 33.93Invoice 11/30/2019 FC 5 Balak, Mike:Residential Finance Charg... Accounts Recei... 5.00 38.93Invoice 11/30/2019 FC 6 Chapman, Natalie Finance Charg... Accounts Recei... 5.00 43.93Invoice 11/30/2019 FC 7 Morearty, Brian Finance Charg... Accounts Recei... 5.00 48.93
Total Interest Income 0.00 15.00 48.93
TOTAL 42,061.12 43,132.05 56,914.57
11:06 AM Larry Wadford's Landscaping & Garden Supply12/15/19 Transactions by AccountAccrual Basis As of November 30, 2019
Page 9
11:17 AM 12/15/19
Larry Wadford's Landscaping Garden Supply Reconciliation Detail
Checking AccountPeriod Ending November 30, 2019
Page 1 of 2
Type Date Num Name Amount Balance
Beginning Balance 1,651.63
Cleared Transactions
Checks and Payments
Check 11/01/2019 1091 Nye Properties -800.00 -800.00
Bill Pmt -Check 11/01/2019 1092 Great Statewide Bank -699.12 -1,499.12
Sales Tax Payment 11/02/2019 1093 State Board of Equalization -198.04 -1,697.16
Paycheck 11/03/2019 Shane B. Hamby -1,609.83 -3,306.99
Paycheck 11/03/2019 Jenny Miller -1,200.17 -4,507.16
Paycheck 11/03/2019 Duncan Fisher -1,110.03 -5,617.19
Check 11/05/2019 1094 Townley Insurance Agency -545.00 -6,162.19
Liability Check 11/07/2019 Great Statewide Bank -2,690.46 -8,852.65
Liability Check 11/07/2019 Employment Development Department -527.39 -9,380.04
Liability Check 11/07/2019 Townley Insurance Agency -105.00 -9,485.04
Bill Pmt -Check 11/10/2019 1098 Cal Telephone -45.00 -9,530.04
Bill Pmt -Check 11/14/2019 1099 Bayshore Water -28.05 -9,558.09
Bill Pmt -Check 11/15/2019 1100 Nolan Hardware and Supplies -500.00 -10,058.09
Bill Pmt -Check 11/15/2019 1101 Patio & Desk Designs -375.00 -10,433.09
Check 11/15/2019 1102 Cal Telephone -59.96 -10,493.05
Check 11/15/2019 1104 0.00 -10,493.05
Paycheck 11/17/2019 Shane B. Hamby -1,606.87 -12,099.92
Paycheck 11/17/2019 Jenny Miller -1,200.17 -13,300.09
Paycheck 11/17/2019 Duncan Fisher -1,163.71 -14,463.80
Check 11/18/2019 ATM Withdrawal -100.00 -14,563.80
Bill Pmt -Check 11/21/2019 1107 Cal Gas & Electric -146.45 -14,710.25
Check 11/22/2019 1460 Bank of Anycity -244.13 -14,954.38
Check 11/24/2019 Debit Great Statewide Bank -18.00 -14,972.38
Check 11/25/2019 1108 Great Statewide Bank -7.50 -14,979.88
Check 11/28/2019 1462 Bank of Anycity -550.00 -15,529.88
Check 11/29/2019 1112 Bayshore CalOil Service -177.25 -15,707.13
Check 11/30/2019 1464 Larry Wadford -5,000.00 -20,707.13
Total Checks and Payments -20,707.13 -20,707.13
Deposits and Credits
Transfer 11/01/2019 7,000.00 7,000.00
Sales Receipt 11/07/2019 14 Retail Sales 33.68 7,033.68
Deposit 11/07/2019 736.00 7,769.68
Deposit 11/10/2019 1,450.00 9,219.68
Payment 11/11/2019 Tumacder, Jacint 180.00 9,399.68
Payment 11/11/2019 8553 Lochrie, Steven 270.00 9,669.68
Deposit 11/13/2019 2,780.00 12,449.68
Payment 11/14/2019 5646 Perry, Dave 250.00 12,699.68
Payment 11/18/2019 3250 Golliday Sporting Goods:75 Sunset Rd. 150.00 12,849.68
Exhibit 7
11:17 AM 12/15/19
Larry Wadford's Landscaping Garden Supply Reconciliation Detail
Checking AccountPeriod Ending November 30, 2019
Page 2 of 2
Deposit 11/20/2019 3,983.93 16,833.61
Deposit 11/21/2019 743.50 17,577.11
Deposit 11/21/2019 3,236.60 20,813.71
Sales Receipt 11/25/2019 17 Retail Sales 64.60 20,878.31
Transfer 11/25/2019 5,000.00 25,878.31
Payment 11/26/2019 526 Williams, Abraham 1,000.00 26,878.31
Deposit 11/28/2019 413.95 27,292.26
Deposit 11/28/2019 760.00 28,052.26
Sales Receipt 11/30/2019 19 Jasmine Park 775.80 28,828.06
Total Deposits and Credits 28,828.06 28,828.06
Total Cleared Transactions 8,120.93 8,120.93
Cleared Balance 8,120.93 8,120.93
Uncleared Transactions
Checks and Payments
Check 11/30/2019 1117 Larry Wadford -2,500.00 -2,500.00
Bill Pmt -Check 11/30/2019 1116 Nolan Hardware and Supplies -792.70 -3,292.70
Bill Pmt -Check 11/30/2019 1115 Patio & Desk Designs -600.00 -3,892.70
Bill Pmt -Check 11/30/2019 1114 Gussman's Nursery -375.00 -4,267.70
Bill Pmt -Check 11/30/2019 1113 City of Middlefield -125.00 -4,392.70
-4,392.70 -4,392.70
Register Balance as of 11/30/19 3,728.23 5,379.86
Debtor: John DoeProperty Address: 1000 Lois Lane, Laurel MD, 20707Receipts and Disbursement Schedule Rolling 12 Months
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Total Average
Gross Rent Receipts -$ -
Advertising - - Auto and Travel - - Cleaning and maintenance - - Commissions - - Tenant Insurance - - Legal and professional services - - Condo Fees - - Mortgage Payment - - Interest - - Repairs - - Supplies - - Taxes - - Utilities - -
Total Expense - - - - - - - - - - - - - -
Income Net -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Exhibit 8
Debtors' NameBusiness NameReceipts and Disbursement ScheduleRolling 12 Months
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Average
Gross Income -$ -
- Advertising - - Commissions and fees - - Contract Labor - - Employee benefits program - - Insurance (other than health) - - Mortgage payment - - Legal and professional services - - Office Expense - - Pension and profit-sharing plans - - Rent or lease - - Repairs and maintenance - - Supplies - - Taxes and licenses - - Travel - - Business meals - - Utitlies - - Wages - -
Total Expense - - - - - - - - - - - - - -
Income Net -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
SS rate 12.4% 15.30%Medicare rate 2.9%
Self Employment Tax: -$ -$
Exhibit 9