The document contains financial reports for Gemstar Productions including a balance sheet, profit and loss statement, cash flow statement, and some explanatory notes. The balance sheet shows total assets of $66,486.45 including current assets of $52,533.33 and fixed assets of $13,953.12. Total liabilities are $41,653.33 and equity is $24,833.12. The profit and loss statement compares actual revenues and expenses to budget for March, showing a net income of $4,833.12. The cash flow statement shows operating, financing and net cash activities for the period.

1. Reporting to
Management
Created by Marc Tejeda
March 30th, 2019

2. Balance Sheet
Gemstar Productions, Inc
BALANCE SHEET
As of March 31, 2019
TOTAL
ASSETS
Current Assets
Bank Accounts
Cash 50,700.00
Total Bank Accounts $50,700.00
Accounts Receivable
Accounts Receivable (A/R) 0.00
Total Accounts Receivable $0.00
Other Current Assets
Deposit at Vendor 500.00
Supplies Inventory 1,333.33
Total Other Current Assets $1,833.33
Total Current Assets $52,533.33
Fixed Assets
Accumalated Depreciation -296.88
Vehicles 14,250.00
Total Fixed Assets $13,953.12
TOTAL ASSETS $66,486.45
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable (A/P) 1,420.00
Total Accounts Payable $1,420.00
Other Current Liabilities
Interest Payable 233.33
Loan Payable 40,000.00
Total Other Current Liabilities $40,233.33
Total Current Liabilities $41,653.33
Total Liabilities $41,653.33
Equity
Common Stock 20,000.00
Retained Earnings
Net Income 4,833.12
Total Equity $24,833.12
TOTAL LIABILITIES AND EQUITY $66,486.45
Current Ratio= 1.26
Working Capital = 10,880
Debt to assets: .63
Return on assets: 0.07
Return on equity: 0.24

3. Profit and Loss
Gemstar Productions, Inc
BUDGET VS. ACTUALS: MARCH - FY19 P&L
March 2019
MAR 2019 TOTAL
ACTUAL BUDGET OVER
BUDGET
% OF
BUDGET
ACTUAL BUDGET OVER
BUDGET
% OF
BUDGET
Income
Event Revenue 3,400.00 -3,400.00 $0.00 $3,400.00 $ -3,400.00 0.00%
Sales 11,400.00 7,500.00 3,900.00 152.00 % $11,400.00 $7,500.00 $3,900.00 152.00 %
Uncategorized Income 1,000.00 -1,000.00 $0.00 $1,000.00 $ -1,000.00 0.00%
Total Income $11,400.00 $11,900.00 $ -500.00 95.80 % $11,400.00 $11,900.00 $ -500.00 95.80 %
Cost of Goods Sold
Cost of Goods Sold 2,500.00 -2,500.00 $0.00 $2,500.00 $ -2,500.00 0.00%
Total Cost of Goods Sold $0.00 $2,500.00 $ -2,500.00 0.00% $0.00 $2,500.00 $ -2,500.00 0.00%
GROSS PROFIT $11,400.00 $9,400.00 $2,000.00 121.28 % $11,400.00 $9,400.00 $2,000.00 121.28 %
Expenses
Depreciation 296.88 100.00 196.88 296.88 % $296.88 $100.00 $196.88 296.88 %
Equipment Rental 750.00 250.00 500.00 300.00 % $750.00 $250.00 $500.00 300.00 %
Insurance Expense 1,200.00 400.00 800.00 300.00 % $1,200.00 $400.00 $800.00 300.00 %
Interest Expense 233.33 50.00 183.33 466.66 % $233.33 $50.00 $183.33 466.66 %
Office Supplies 666.67 300.00 366.67 222.22 % $666.67 $300.00 $366.67 222.22 %
Payroll 3,200.00 4,000.00 -800.00 80.00 % $3,200.00 $4,000.00 $ -800.00 80.00 %
Purchases 350.00 -350.00 $0.00 $350.00 $ -350.00 0.00%
Unapplied Cash Bill Payment
Expense
50.00 -50.00 $0.00 $50.00 $ -50.00 0.00%
Uncategorized Expense 25.00 -25.00 $0.00 $25.00 $ -25.00 0.00%
Utilities 220.00 800.00 -580.00 27.50 % $220.00 $800.00 $ -580.00 27.50 %
Total Expenses $6,566.88 $6,325.00 $241.88 103.82 % $6,566.88 $6,325.00 $241.88 103.82 %
NET OPERATING INCOME $4,833.12 $3,075.00 $1,758.12 157.17 % $4,833.12 $3,075.00 $1,758.12 157.17 %
NET INCOME $4,833.12 $3,075.00 $1,758.12 157.17 % $4,833.12 $3,075.00 $1,758.12 157.17 %

4. Cash Flow
Gemstar Productions, Inc
STATEMENT OF CASH FLOWS
March 2019
TOTAL
OPERATING ACTIVITIES
Net Income 4,833.12
Adjustments to reconcile Net Income to Net
Cash provided by operations:
Accounts Receivable (A/R) 0.00
Deposit at Vendor -500.00
Supplies Inventory -1,333.33
Accumalated Depreciation 296.88
Vehicles -14,250.00
Accounts Payable (A/P) 1,420.00
Interest Payable 233.33
Loan Payable 40,000.00
Total Adjustments to reconcile Net Income to
Net Cash provided by operations:
25,866.88
Net cash provided by operating activities $30,700.00
FINANCING ACTIVITIES
Common Stock 20,000.00
Net cash provided by financing activities $20,000.00
NET CASH INCREASE FOR PERIOD $50,700.00
CASH AT END OF PERIOD $50,700.00

5. Internal Controls
Operational
Risk
Project
Financial
Change

6. Key Terms & Concepts
Accounts - category in which is being put in on report
Balance Sheet - financial statement that reports all numbers
Cost of good sold - expenses it takes to create product or
service
Equity - assets subtracted by liabilities
Liability - any debt that has incurred
Net income - dollar amount earned in profits
Asset - anything that holds monetary value

7. References
Anamariahopartean. (2019, March 07). 30
Easy-to-learn English Terms for Accounting.
Retrieved from https://www.fluentu.com/
blog/business-english/english-for-accounting/
Internal Controls. (n.d.). Retrieved from
https://finance.uw.edu/fr/internal-controls