AJAY RAWAT CASE

Expenses Amount Income Amount

Rent A/C 45 Sales 650
purchases A/C 305
Depreciation A/C 21
Net Profit 279
Total 650 650
PROFIT AND LOSS ACCOUNT FOR THE WEEK ENDED
Liabilities Amount Assets Amount
Ajay's Capital A/C 300 Fixed Asset
Add: Net Profit 279 579 Tent and Equipment A/C 110
Less: Depreciation 21 89
Current Assets
Second National Bank A/C 490
Total 579 579
BALANCE SHEET AS ON MONDAY NIGHT
WellStore Enterprise Case
Different Sources of cash and amounts to start WellStore Enterprise
Capital Brought in by the promoters: Each of the Three Friends brought in
Rs20000 in cash.
Funds borrowed from bank: WellStore also borrowed Rs40000 from
Maharashtra Cooperative Bank.
Vardhman Capital A/C
Particular Amount Particular Amount
drawings 4000 cash 20000
balance c/f 22667 profit 6667
Total 26667 26667
Particular Amount Particular Amount
drawings 4000 Cash 20000
balance c/f 22667 Profit 6667
Total 26667 26667
Aseem Capital A/C
Gautam Capital A/C
Particular Amount Particular Amount
drawings 4000 Cash 20000
balance c/f 22667 Profit 6667
Total 26667 26667