Financial statements simulator
Statements generated from the same posted entries as the ledger and trial balance.
Sandbox
Self-check practice on this device: your entries autosave locally. The sandbox isn't graded for mastery — use the graded practice below for that.
Brightside Services (worked example)
Period Jan 1, 2026 – Jan 31, 2026 · accrual basis · USD
Income statement
Jan 1, 2026 – Jan 31, 2026
- Service Revenue
- $4,000.00
- Total revenue
- $4,000.00
- Rent Expense
- ($500.00)
- Wages Expense
- ($250.00)
- Supplies Expense
- ($150.00)
- Insurance Expense
- ($100.00)
- Depreciation Expense
- ($100.00)
- Net income
- $2,900.00
Balance sheet
As of Jan 31, 2026
- Cash
- $8,600.00
- Accounts Receivable
- $1,500.00
- Supplies
- $150.00
- Prepaid Insurance
- $1,100.00
- Equipment
- $2,000.00
- Accumulated Depreciation – Equipment
- ($100.00)
- Total assets
- $13,250.00
- Accounts Payable
- $100.00
- Wages Payable
- $250.00
- Total liabilities
- $350.00
- Owner Capital
- $10,000.00
- Current-period earnings (not yet closed)
- $2,900.00
- Total equity
- $12,900.00
- Liabilities + equity
- $13,250.00
✓ Assets = Liabilities + Equity
Cash-flow view (direct, basic)
- Opening cash
- $0.00
- Operating activities
- $600.00
- Investing activities
- ($2,000.00)
- Financing activities
- $10,000.00
- Closing cash
- $8,600.00
✓ Opening cash plus net change equals closing cash.
Graded practice
Item 1 of 4
Freeeasy
Compute net income
For the month: Service Revenue $14,600.00, Rent Expense $1,300.00, Wages Expense $5,100.00, Utilities Expense $230.00, Owner Drawings $1,650.00. Compute total expenses and net income.