Balance Sheet

Assets
Cash
Bank account
Delivery car
Prepaid rent
Account Receivables

7500
5000
9000
10000
4000

Amount due from Sonali (spent

on personal expense)

11500

Inventory
1. Trainers
2. Golf Club
3. Track suits
Total

15000
1000
9000
72000

PnL
Total Sales
Cost of Goods sold
Gross Profit
Other Expenses
Rent expense
Petrol for estate car
Electricity for garage

EBITDA
Provision for losses
Loss on account receivables
Loss on inventory

Depreciation expense
EBIT
Interest Expense
EBT

154000
111000
43000

40000
5000
2000
47000
-4000
1000
3000
4000
3000
-11000
2000
-13000

Working Notes:
Liability
Loan taken from friend
Interest payable
Account Payable

20000
2000
9000

Paid up Capital

50000

Retained earnings

-9000

Total

72000

1. Credit 50000 received as pa

2. Credit 20000 to cash as par
3. Debit 12000 from account f
4. Debit 50000 from bank acco
5.Credit Cash of 90000 to ban
6. Credit cash of 59000 to cas
7. Debit 90000 from cash for t

8. Debit 40000 from bank acco

9. Debit Petrol, electricity and
10. Debit holiday expense from

Working Notes:

. Credit 50000 received as part of will

. Credit 20000 to cash as part of Loan
. Debit 12000 from account for Delivery car; Depreciation expense of 3000
. Debit 50000 from bank account
.Credit Cash of 90000 to bank account
. Credit cash of 59000 to cash
. Debit 90000 from cash for trainers

. Debit 40000 from bank account for golf club

. Debit Petrol, electricity and personal expense from cash
0. Debit holiday expense from account