Page 47 - BOGManual_2021August

Judges and Lawyers Assistance Program, Inc.
Statement of Financial Position
As of May 31, 2021 and May 31, 2020

5/31/2021 5/31/2020
ASSETS
Current Assets
Bank Accounts
Whitney-PPP funding $ - $ 75,200
Whitney-checking 20,995 23,737
Whitney - savings 474,473 211,759
Total Bank Accounts 495,468 310,696
Accounts Receivable
Accounts Receivable - 3,880
Total Accounts Receivable - 3,880
Other current assets
Other receivables - 30,000
Prepaid Expenses 5,977 4,095
Insurance - -
Total Prepaid Expenses 5,977 4,095
Security Deposits 2,250 2,250
Total Other current assets 8,227 36,345
Total Current Assets 503,694 350,922
Fixed Assets
Accumulated Depreciation (32,532) (31,450)
Furniture 32,532 32,532
Total Fixed Assets - 1,082
TOTAL ASSETS $ 503,694 $ 352,003
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
20000 Accounts Payable $ 411 $ 1,595
Total Accounts Payable 411 1,595
Credit Cards
Whitney Credit Card 4,310 -
Total Credit Cards 4,310 -
Other Current Liabilities
24000 Payroll Liabilities
401K Liability 7,773 15,062
Total 24000 Payroll Liabilities 7,773 15,062
Accrued payroll and related exp 4,954 2,888
Total Other Current Liabilities 12,727 17,950
Total Current Liabilities 17,448 19,546
Promissory Note - PPP Funding - 75,200
Total Liabilities 17,448 94,746
Equity
30000 Opening Balance Equity 179,760 179,760
32000 Retained Earnings 50,110 47,978
Net Revenue 256,376 29,519
Total Equity 486,247 257,258
TOTAL LIABILITIES AND EQUITY $ 503,694 $ 352,003

No Assurance Provided