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  • Padma Ltd. Trial Balance As at March 31, 2010 Balance Sheet Trial Balance Adjustments Income Statement Ajusted Trial Balance

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    Rashed Rehman
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    1) The trial balance shows account balances for Padma Ltd. as of March 31, 2010, including adjustments. 2) The adjusted trial balance and income statement are presented for the year ended December 31, 2009. 3) The balance sheet as of December 31, 2009 shows total assets of $5.1 million including cash, accounts receivable, and equipment. Total liabilities and owners' equity are also $5.1 million, with owners' equity increasing to $2.86 million after adding net income of $917 thousand for the year.

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    1) The trial balance shows account balances for Padma Ltd. as of March 31, 2010, including adjustments. 2) The adjusted trial balance and income statement are presented for the year ended December 31, 2009. 3) The balance sheet as of December 31, 2009 shows total assets of $5.1 million including cash, accounts receivable, and equipment. Total liabilities and owners' equity are also $5.1 million, with owners' equity increasing to $2.86 million after adding net income of $917 thousand for the year.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    9 views5 pages

    Padma Ltd. Trial Balance As at March 31, 2010 Balance Sheet Trial Balance Adjustments Income Statement Ajusted Trial Balance

    Uploaded by

    Rashed Rehman
    1) The trial balance shows account balances for Padma Ltd. as of March 31, 2010, including adjustments. 2) The adjusted trial balance and income statement are presented for the year ended December 31, 2009. 3) The balance sheet as of December 31, 2009 shows total assets of $5.1 million including cash, accounts receivable, and equipment. Total liabilities and owners' equity are also $5.1 million, with owners' equity increasing to $2.86 million after adding net income of $917 thousand for the year.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    of 5

    Padma Ltd.

    Trial Balance
    As at March 31, 2010
    NO.
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    11
    12
    13
    14
    15
    16
    17
    18
    19
    20
    21
    22

    Cash
    Accounts Receivable
    Supplies
    Prepaid Insurance
    Equipment
    Mowla Drawing
    Salaries Expense
    Travel Expense
    Rent Expense
    Miscellaneous Expense
    Notes Payable
    Accounts Payable
    Mowla Capital
    Fees Earned
    Supplies exp
    Dep Exp
    Acc Dep
    Interest exp
    Interest Payable
    Insurance Exp
    Net Income
    Total

    Trial Balance
    Dr
    Cr
    1240000
    562000
    105000
    240000
    3000000
    60000
    120000
    130000
    120000
    20000
    #
    #
    #
    #

    Dr

    Adjustments
    Cr

    75000
    30000
    45000

    75000
    30000
    40000
    40000
    15000
    15000
    45000

    5597000

    5597000

    205000

    205000

    Ajusted Trial Balance


    Dr
    Cr
    1240000
    637000
    75000
    195000
    3000000
    60000
    120000
    130000
    120000
    20000
    1000000
    1235000
    2000000
    1437000
    30000
    40000
    40000
    15000
    15000
    45000
    5727000

    5727000

    Income Statement
    Dr
    Cr

    Balance Sheet
    Dr
    Cr
    1240000
    637000
    75000
    195000
    3000000
    60000

    120000
    130000
    120000
    20000
    1000000
    1235000
    2000000
    1437000
    30000
    40000
    40000
    15000
    45000
    917000
    1437000

    1437000

    5207000

    15000
    917000
    5207000

    Padma Ltd.
    Balance Sheet
    As at December 31, 2009
    Asset
    Current Asset
    Cash
    1240000
    Accounts Receivable
    637000
    Supplies
    75000
    Prepaid Insurance
    195000
    Total CA
    PPP
    Equipment
    3000000
    40000
    Less: Acc Dep
    Total PPP
    Total Asset
    Liabilities and Owners' Equity
    Current Liabilities:
    Notes Payable
    Accounts Payable
    Interest Payable
    Total Liabilities
    Owners' Euity:
    2000000
    Capital
    917000
    Add: Net income
    60000
    Less: drawings
    Total OE
    Total Liability and OE

    2147000

    2960000
    5107000

    1000000
    1235000
    15000
    2250000

    2857000
    5107000

    Padma Ltd.
    Income Statement
    As at December 31, 2009
    Fees earned
    Other Expenses:
    Salaries Expense
    Travel Expense
    Rent Expense
    Miscellaneous Expense
    Supplies exp
    Dep Exp
    Interest exp
    Insurance Exp
    Total Expenses
    Net tincome

    1437000

    120000
    130000
    120000
    20000
    30000
    40000
    15000
    45000
    520000
    917000

    Padma Ltd.
    Balance Sheet
    As at December 31, 2009
    Asset
    Capital
    Add: Net income
    Less: drawings

    2000000
    917000
    60000
    2857000

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