Sialkot Sports Co.

Opening Balance Sheet

As on 01 January 2013
Liabilities & Captial

Rs. Amount

Captial
Capital

PKR 500,000.00

Long Term Liablities

Loan From SME

PKR 200,000.00

Current Liablities
Creditiors:
Karachi Traders

PKR 90,000.00

Multan Traders

PKR 60,000.00

Fazal Karim & Sons.

PKR 50,000.00
PKR 900,000.00

Sialkot Sports Co.

ening Balance Sheet

on 01 January 2013
Assests

Rs. Amount

Fixed Assets
Motor Vehicle

PKR 200,000.00

Building

PKR 125,000.00

Machinery

PKR 80,000.00

Loose Tools

PKR 75,000.00

Current Assets
Stock

PKR 135,000.00

Cash at Bank

PKR 145,000.00

Cash in Hand

PKR 140,000.00

PKR 900,000.00

Subsidiary Book
Purchase Book (SB1)
Date

Inv. No

Our Inv. No

Creditors

Folio

Debit Rs.

24-Jan

Fazal Karim & Sons.

L5

PKR 2,925.00

11-Feb

Fazal Karim & Sons.

L5

PKR 5,500.00

14-Mar

Multan Trader

L4

PKR 6,000.00

21-Jun

Fazal Karim & Sons.

L5

PKR 4,800.00

21-Jul

Karachi Trader

L3

PKR 4,500.00

21-Aug

Multan Trader

L4

PKR 3,880.00

16-Oct

Multan Trader

L4

PKR 3,200.00

21-Nov

Multan Trader

L4

PKR 6,650.00

20-Dec

Karachi Trader

L3

PKR 9,000.00

Credit Rs.

Subsidiary Book
Purchase Return Book (SB2)
Date

Cr. Note No.

Our Cr. No

Creditors

Folio

20-Jan

Karachi Traders

L3

16-Feb

Multan Trader

L4

22-Apr

Karachi Traders

L3

19-May

Multan Trader

L4

18-Nov

Fazal Karim & Sons.

L5

22-Dec

Karachi Traders

L3

SB2)
Debit Rs.

Credit Rs.

PKR 1,200.00

PKR 900.00

PKR 600.00

PKR 450.00

PKR 1,100.00

PKR 700.00

Subsidiary Book
Sale Book (SB3)
Date

Inv. No

17-Feb

1-Mar

Debtors

Folio

Debit Rs.

Sharry

L12

Sharry

L12

9-Apr

Abdullah

L13

23-May

Abdullah

L13

24-Jun

Abdullah

L13

17-Jul

Sharry

L12

27-Aug

Abdullah

L13

17-Sep

Abdullah

L13

19-Sep

Sharry

L12

14-Nov

Sharry

L12

Credit Rs.
PKR 6,700.00
PKR 5,800.00
PKR 6,700.00
PKR 5,500.00
PKR 8,550.00
PKR 3,800.00
PKR 14,550.00
PKR 12,000.00
PKR 16,975.00
PKR 3,920.00

Subsidiary Book
Sale Return Book (SB4)
Date

Cr. Note No

25-Feb

29-May
28-Jun

Debtors

Folio

Debit Rs.

Sharry

L12

PKR 750.00

Abdullah

L13

PKR 1,200.00

Abdullah

L13

PKR 700.00

Credit Rs.

Subsidiary Book

Cash B

Three Colu
Date

Rt. No

Particulars

Folio

Balance b/f

Debit Amount
Cash Rs.
###

Bank Rs.
###

19-Feb

Sales

PKR 4,000.00

21-Feb

Sales

PKR 4,200.00

26-May

Sales

PKR 7,680.00

19-Jun

Cash in Hand

13-Jul

Sales

18-Aug

Cash at Bank

7-Sep

Sales

PKR 3,773.00

13-Sep

Sales

PKR 5,238.00

21-Sep

Rental Income

25-Sep

Capital

15-Oct

Rental Income

23-Oct

Sales

PKR 6,400.00

26-Oct

Sales

PKR 12,000.00

10-Nov

Sales

20-Nov
26-Dec

Capital

Sales

C1

PKR 320.00
PKR 15,000.00
PKR 14,381.00

C2

PKR 25,000.00

PKR 5,500.00
PKR 50,000.00
PKR 4,500.00

PKR 14,250.00
PKR 20,400.00
PKR 7,220.00

###

###

Cash Book (SB5)

Three Column Cash Book

unt

Pv. No

2-Jan

Wages

10-Jan

Light Exp

12-Jan

Rent Exp

18-Jan

Purchases

3-Feb

Wages

5-Feb

General Exp

6-Mar

Purchases

PKR 77.00

4-Apr

Salaries

PKR 162.00

6-Apr

Carriage Exp

PKR 12,000.00

15-Apr

Purchases

PKR 10,000.00

27-Apr

Wages

PKR 1,550.00

2-May

Salaries

PKR 3,500.00

7-May

Transport Exp

PKR 1,100.00

11-May

General Exp

13-May

Rent Exp

17-May

Purchases

8-Jun

Clearing Charger

12-Jun

Office Equi Exp

19-Jun

Cash at Bank

4-Jul

Sales Return

18-Jul

Purchases

23-Jul

Rent Exp

PKR 5,000.00

27-Jul

Light Exp

PKR 14,000.00

29-Jul

Transport Exp

30-Jul

Drawing

2-Aug

Wages

5-Aug

Carriage Exp

6-Aug

Transport Exp

9-Aug

Office Equi Exp

14-Aug

General Exp

Discount

PKR 369.00

PKR 750.00
PKR 380.00

Particulars

Folio

Credit Amoun

Date

Cash Rs.
PKR 3,200.00
PKR 700.00
PKR 2,500.00
PKR 900.00
PKR 6,400.00

PKR 4,800.00
C1

PKR 15,000.00
PKR 1,100.00

PKR 500.00

PKR 7,000.00
PKR 5,000.00
PKR 720.00

18-Aug

Cash in Hand

25-Aug

Purchases

28-Aug

Sales Return

2-Oct

Wages

7-Oct

Carriage Exp

12-Oct

Insurance

30-Oct

Sales Return

25-Nov

Jung Trader

29-Nov

Salaries

14-Dec

Drawing

18-Dec

Transport Exp

C2
PKR 2,300.00
PKR 500.00
PKR 2,500.00
PKR 6,000.00
PKR 800.00
PKR 50,000.00
PKR 5,000.00

Total Payment
31-Dec

Balance c/f

PKR 92,710.00

PKR 1,738.00
PKR 275,180.00

Credit Amount
Bank Rs.

Discount

PKR 6,400.00

PKR 2,300.00

PKR 4,000.00

PKR 1,000.00
PKR 1,100.00
PKR 4,410.00
PKR 500.00

PKR 5,000.00

PKR 4,000.00
PKR 500.00
PKR 900.00

PKR 90.00

PKR 25,000.00

PKR 13,500.00

PKR 5,500.00
PKR 300.00

###
PKR 90.00
PKR 209,682.00

Subsidiary Book
General Journal (SB6)
Date
18-Mar

Particulars
Drawing

Folio
L22

To Purchases

L14

Owner took goods for personal use

27-Mar

Purchases

L14
To Capital

L1

Introduce Cpital in the form of goods

1-Sep

Karachi Trder

L3
To Capital

L1

Owner pay creditor from his personal cash

rnal (SB6)
Debit Rs.

Credit Rs.

6000
6000

e
26000
26000

ds

nal cash

26000
26000

Ledgers
Captial A/C (L1)
Date

Particulars

Folio

Rs. Amount (Dr.)

Date

27-Mar
1-Jun
31-Dec

Balance c/f

PKR 622,400.00

25-Sep
20-Nov

PKR 622,400.00

Loan from SME A/C (L2)

Date
31-Dec

Particulars
Balance c/f

Folio

Rs. Amount (Dr.)

PKR 200,000.00

PKR 200,000.00

Date

/C (L1)
Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

Purchases

L14

PKR 26,000.00

L3

PKR 26,000.00

Cash

SB5

PKR 50,000.00

Cash

SB5

PKR 20,400.00

Karachi Trader

PKR 500,000.00

PKR 622,400.00

ME A/C (L2)
Particulars
Balance b/f

Folio

Rs. Amount (Cr.)

PKR 200,000.00

PKR 200,000.00

Ledgers
Karachi Trader A/C (L3)
Date

Particulars

Folio

Rs. Amount (Dr.)

20-Jan

Purchases Return

L15

PKR 1,200.00

22-Apr

Purchases Return

L15

PKR 600.00

1-Jun

Capital

22-Dec

Purchases Return

31-Dec

Balance c/f

L1
L15

PKR 26,000.00

Date
21-Jul
20-Dec

PKR 700.00
PKR 75,000.00
PKR 103,500.00

Multan Trader A/C (L4)

Date

Particulars

Folio

Rs. Amount (Dr.)

16-Feb

Purchases Return

L15

PKR 900.00

19-May

Purchases Return

L15

PKR 450.00

Date
14-Mar
21-Aug

31-Dec

Balance c/f

PKR 78,380.00

16-Oct
21-Nov

PKR 79,730.00

Fazal Karim & Sons. A/C (L5)

Date
18-Nov

Particulars
Purchases Return

Folio

Rs. Amount (Dr.)

L15

PKR 1,100.00

Date
24-Jan
11-Feb

31-Dec

Balance c/f

PKR 62,125.00

20-Jan

PKR 63,225.00

Jung Trader A/C (L6)

Date
25-Nov

Particulars
Cash

Folio
SB5

Rs. Amount (Dr.)

PKR 50,000.00
Nil

Date
15-May

er A/C (L3)
Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

PKR 90,000.00

Purchases

L14

PKR 4,500.00

Purchases

L14

PKR 9,000.00

PKR 103,500.00

r A/C (L4)
Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

PKR 60,000.00

Purchases

L14

PKR 6,000.00

Purchases

L14

PKR 3,880.00

Purchases

L14

PKR 3,200.00

Purchases

L14

PKR 6,650.00
PKR 79,730.00

ons. A/C (L5)

Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

PKR 50,000.00

Purchases

L14

PKR 2,925.00

Purchases

L14

PKR 5,500.00

Purchases

L14

PKR 4,800.00
PKR 63,225.00

A/C (L6)
Particulars
Furniture

Folio
L7

Rs. Amount (Cr.)

PKR 50,000.00
Nil

Ledgers
Furniture A/C (L7)
Date
15-May

Particulars

Folio

Jung Trader L6

Rs. Amount (Dr.)

PKR 50,000.00

Date

Particulars

31-Dec

Balance c/

Folio

PKR 50,000.00

Motor Vehicle A/C (L8)

Date

Particulars
Balance b/f

Folio

Rs. Amount (Dr.)

PKR 200,000.00

Date

Particulars

31-Dec

Balance c/

Folio

PKR 200,000.00

Building A/C (L9)

Date

Particulars
Balance b/f

Folio

Rs. Amount (Dr.)

PKR 125,000.00

Date

Particulars

31-Dec

Balance c/

Folio

PKR 125,000.00

Machinery A/C (L10)

Date

Particulars
Balance b/f

Folio

Rs. Amount (Dr.)

PKR 80,000.00

Date

Particulars

31-Dec

Balance c/

Folio

PKR 80,000.00

Loose Tools A/C (L11)

Date

Particulars
Balance b/f

Folio

Rs. Amount (Dr.)

PKR 75,000.00
PKR 75,000.00

Date
31-Dec

Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 50,000.00
PKR 50,000.00

Rs. Amount (Cr.)

PKR 200,000.00
PKR 200,000.00

Rs. Amount (Cr.)

PKR 125,000.00
PKR 125,000.00

Rs. Amount (Cr.)

PKR 80,000.00
PKR 80,000.00

Rs. Amount (Cr.)

PKR 75,000.00
PKR 75,000.00

Ledgers
Sharry A/C (L12)
Date

Particulars

Folio

Rs. Amount (Dr.)

Date

17-Feb

Sales

L16

PKR 6,700.00

25-Feb

1-Mar

Sales

L16

PKR 5,800.00

30-Dec

17-Jul

Sales

L16

PKR 3,800.00

19-Sep

Sales

L16

PKR 16,975.00

14-Nov

Sales

L16

PKR 3,920.00

31-Dec

PKR 37,195.00

Abdullah A/C (L13)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date

9-Apr

Sales

L16

PKR 6,700.00

29-May

23-May

Sales

L16

PKR 5,500.00

28-Jun

23-Jan

Sales

L16

PKR 8,550.00

30-Dec

27-Aug

Sales

L16

PKR 14,550.00

17-Sep

Sales

L16

PKR 12,000.00
PKR 47,300.00

31-Dec

Sharry A/C (L12)

Particulars

Folio

Rs. Amount (Cr.)

Sales Return

L17

PKR 750.00

Bad Debts Written Of

L32

PKR 5,000.00

Balance c/f

PKR 31,445.00

PKR 37,195.00

Abdullah A/C (L13)

Particulars

Folio

Rs. Amount (Cr.)

Sales Return

L17

PKR 1,200.00

Sales Return

L17

PKR 700.00

Bad Debts Written Of

L32

PKR 5,000.00

Balance c/f

PKR 40,400.00
PKR 47,300.00

Ledgers
Purchase A/C (L14)
Date

Particulars

Folio

Rs. Amount (Dr.)

Date

SB5

PKR 2,500.00

18-Mar

18-Jan

Cash

24-Jan

Fazal Karim & Sons.

L5

PKR 2,925.00

11-Feb

Fazal Karim & Sons.

L5

PKR 5,500.00

6-Mar

Cash

SB5

PKR 6,400.00

14-Mar

Multan Trader

L4

PKR 6,000.00

27-Mar

Capital

L1

PKR 26,000.00

15-Apr

Cash

SB5

PKR 10,000.00

17-May

Bank

SB5

PKR 4,410.00

17-May

Discount Recived

L26

PKR 90.00

21-Jun

Fazal Karim & Sons.

18-Jul

Bank

21-Jul

L5

PKR 4,800.00

SB5

PKR 5,000.00

Karachi Trader

L3

PKR 4,500.00

21-Aug

Multan Trader

L4

PKR 3,880.00

25-Aug

Cash

SB5

PKR 2,300.00

16-Oct

Multan Trader

L4

PKR 3,200.00

21-Nov

Multan Trader

L4

PKR 6,650.00

20-Dec

Karachi Trader

L3

PKR 9,000.00

31-Dec

PKR 103,155.00

Purchases Return A/C (L15)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
20-Jan
16-Feb
22-Apr
19-May
18-Nov

31-Dec

Balance c/f

PKR 4,950.00
PKR 4,950.00

22-Dec

se A/C (L14)
Particulars
Drawing

Balance c/f

Folio

Rs. Amount (Cr.)

L22

PKR 6,000.00

PKR 97,155.00
PKR 103,155.00

Return A/C (L15)

Particulars

Folio

Rs. Amount (Cr.)

Karachi Traders

L3

PKR 1,200.00

Multan Trader

L4

PKR 900.00

Karachi Traders

L3

PKR 600.00

Multan Trader

L4

PKR 450.00

Fazal Karim & Sons.

L5

PKR 1,100.00

Karachi Traders

L3

PKR 700.00
PKR 4,950.00

Ledgers
Sale A/C (L16)
Date

Particulars

Folio

Rs. Amount (Dr.)

Date
17-Feb

Sharry

19-Feb

Cash

21-Feb

Cash

1-Mar

Sharry

9-Apr

Abdullah

23-May

Abdullah

26-May

Cash

26-May

Discount Allowed

24-Jun

Abdullah

13-Jul

Bank

13-Jul

Discount Allowed

17-Jul

Sharry

27-Aug

31-Dec

Balance c/

PKR 165,695.00

PKR 165,695.00

Particulars

Abdullah

7-Sep

Bank

7-Sep

Discount Allowed

13-Sep

Bank

13-Sep

Discount Allowed

17-Sep

Abdullah

19-Sep

Sharry

23-Oct

Cash

26-Oct

Cash

10-Nov

Bank

10-Nov

Discount Allowed

14-Nov

Sharry

26-Dec

Bank

26-Dec

Discount Allowed

Sales Return A/C (L17)

Date

Particulars

Folio

Rs. Amount (Dr.)

25-Feb

Sharry

L12

PKR 750.00

29-May

Abdullah

L13

PKR 1,200.00

28-Jun

Abdullah

L13

PKR 700.00

4-Jul

Cash

SB5

PKR 1,100.00

28-Aug

Cash

SB5

PKR 500.00

30-Oct

Cash

SB5

PKR 800.00
PKR 5,050.00

Date

Particulars

31-Dec

Balance c/f

Folio

Rs. Amount (Cr.)

L12

PKR 6,700.00

SB5

PKR 4,000.00

SB5

PKR 4,200.00

L12

PKR 5,800.00

L13

PKR 6,700.00

L13

PKR 5,500.00

SB5

PKR 7,680.00

L29

PKR 320.00

L13

PKR 8,550.00

SB5

PKR 14,381.00

L29

PKR 369.00

L12

PKR 3,800.00

L13

PKR 14,550.00

SB5

PKR 3,773.00

L29

PKR 77.00

SB5

PKR 5,238.00

L29

PKR 162.00

L13

PKR 12,000.00

L12

PKR 16,975.00

SB5

PKR 6,400.00

SB5

PKR 12,000.00

SB5

PKR 14,250.00

L29

PKR 750.00

L12

PKR 3,920.00

SB5

PKR 7,220.00

L29

PKR 380.00
PKR 165,695.00

Folio

Rs. Amount (Cr.)

PKR 5,050.00

PKR 5,050.00

Ledgers
Wages A/C (L18)
Date

Particulars

Folio

Rs. Amount (Dr.)

2-Jan

Cash

SB5

PKR 3,200.00

3-Feb

Bank

SB5

PKR 2,300.00

27-Apr

Cash

SB5

PKR 1,550.00

2-Aug

Bank

SB5

PKR 500.00

2-Oct

Cash

SB5

PKR 2,500.00

Date

31-Dec

PKR 10,050.00

Light Expense A/C (L19)

Date

Particulars

Folio

Rs. Amount (Dr.)

10-Jan

Bank

SB5

PKR 6,400.00

27-Jul

Cash

SB5

PKR 14,000.00

Date

31-Dec
PKR 20,400.00

Rent Expense A/C (L20)

Date

Particulars

Folio

Rs. Amount (Dr.)

12-Jan

Cash

SB5

PKR 700.00

13-May

Bank

SB5

PKR 1,100.00

23-Jul

Cash

SB5

PKR 5,000.00

Date
31-Dec

PKR 27,200.00

General Expense A/C (L21)

Date

Particulars

Folio

Rs. Amount (Dr.)

5-Feb

Cash

SB5

PKR 900.00

11-May

Bank

SB5

PKR 1,000.00

14-Aug

Cash

SB5

PKR 720.00

Date

31-Dec

PKR 2,620.00

Drawing A/C (L22)

Date
18-Mar
30-Jul

Particulars

Folio

Rs. Amount (Dr.)

Purchases

L14

PKR 6,000.00

Bank

SB5

PKR 4,000.00

Date
31-Dec

14-Dec

Cash

SB5

PKR 5,000.00
PKR 15,000.00

Salaries A/C (L23)

Date

Particulars

Folio

Rs. Amount (Dr.)

4-Apr

Bank

SB5

PKR 4,000.00

2-May

Cash

SB5

PKR 3,500.00

29-Nov

Bank

SB5

PKR 5,500.00

Date

31-Dec
PKR 13,000.00

Carriage Expense A/C (L24)

Date

Particulars

Folio

Rs. Amount (Dr.)

6-Apr

Cash

SB5

PKR 12,000.00

5-Aug

Cash

SB5

PKR 7,000.00

7-Oct

Bank

SB5

PKR 13,500.00

Date

31-Dec
PKR 32,500.00

Transport Expense A/C (L25)

Date

Particulars

Folio

Rs. Amount (Dr.)

7-May

Cash

SB5

PKR 1,100.00

29-Jul

Cash

SB5

PKR 500.00

6-Aug

Bank

SB5

PKR 900.00

18-Dec

Bank

SB5

PKR 300.00

Date

31-Dec

PKR 2,800.00

Discount Received A/C (L26)

Date
31-Dec

Particulars
Balance c/

Folio

Rs. Amount (Dr.)

PKR 90.00

Date
17-May

PKR 90.00

Clearing Charges A/C (L27)

Date
8-Jun

Particulars
Cash

Folio

Rs. Amount (Dr.)

Date

SB5

PKR 4,800.00

31-Dec

PKR 4,800.00

Office Equipment Expense A/C (L28)

Date

Particulars

Folio

Rs. Amount (Dr.)

12-Jun

Bank

SB5

PKR 500.00

9-Aug

Cash

SB5

PKR 5,000.00

Date
31-Dec

PKR 5,500.00

Discount Allowed A/C (L29)

Date

Particulars

Folio

Rs. Amount (Dr.)

13-Jul

Sales

S16

PKR 369.00

7-Sep

Sales

S16

PKR 77.00

13-Sep

Sales

S16

PKR 162.00

10-Nov

Sales

S16

PKR 750.00

26-Dec

Sales

S16

PKR 380.00

Date

31-Dec

PKR 1,738.00

Rental Income A/C (L30)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
21-Sep

31-Dec

Balance c/

PKR 10,000.00

15-Oct

PKR 10,000.00

Insurance A/C (L31)

Date
12-Oct

Particulars
Cash

Folio

Rs. Amount (Dr.)

Date

SB5

PKR 6,000.00

31-Dec

PKR 6,000.00

Bad Debt Written Of A/C (L32)

Date

Particulars

Folio

Rs. Amount (Dr.)

30-Dec

Sharry

L12

PKR 5,000.00

30-Dec

Abdullah

L13

PKR 5,000.00
PKR 10,000.00

Date
31-Dec

(L18)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 10,050.00
PKR 10,050.00

A/C (L19)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 20,400.00
PKR 20,400.00

A/C (L20)
Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 27,200.00

PKR 47,600.00

A/C (L21)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 2,620.00
PKR 2,620.00

(L22)
Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 15,000.00

PKR 15,000.00

(L23)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 13,000.00
PKR 13,000.00

e A/C (L24)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 32,500.00
PKR 32,500.00

e A/C (L25)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 2,800.00

PKR 2,800.00

d A/C (L26)
Particulars
Purchase

Folio
L14

Rs. Amount (Cr.)

PKR 90.00
PKR 90.00

s A/C (L27)
Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 4,800.00

PKR 4,800.00

ense A/C (L28)

Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 5,500.00
PKR 5,500.00

d A/C (L29)
Particulars

Balance c/

Folio

Rs. Amount (Cr.)

PKR 1,738.00
PKR 1,738.00

A/C (L30)
Particulars

Folio

Rs. Amount (Cr.)

Cash

SB5

PKR 5,500.00

Bank

SB5

PKR 4,500.00
PKR 10,000.00

C (L31)
Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 6,000.00
PKR 6,000.00

Of A/C (L32)
Particulars
Balance c/

Folio

Rs. Amount (Cr.)

PKR 10,000.00
PKR 10,000.00

Sialkot Sports Co.

Trail Balance
As on 31 Dec 2013
Refernece's

Account No.

Capital

L1

Loan From SME

L2

Karachi Trader

L3

Multan Trader

L4

Fazal Karim & Sons

L5

Furniture

L7

Motor Vehicle

L8

Building

L9

Machinery

L10

Loose Tools

L11

Stock

Sharry

L12

Abdullah

L13

Cash at Bank

SB5

Cash In Hand

SB5

Purchases

L14

Purchases Return

L15

Sales

L16

Sales Return

L17

Wages

L18

Light Expense

L19

Rent Expense

L20

Geneal Expens

L21

Drawing

L22

Salaries

L23

Carriage Expense

L24

Transport Expense

L25

Discount Received

L26

Clearing Charges

L27

Offiecs Equip Expense

L28

Disount Allowed

L29

Rental Income

L30

Insurance

L31

Bad Debt Written Of

L32

Total

Sports Co.

Balance

1 Dec 2013
Debit. Rs

Credit. Rs
PKR 622,400.00
PKR 200,000.00
PKR 75,000.00
PKR 78,380.00
PKR 62,125.00

PKR 50,000.00
PKR 200,000.00
PKR 125,000.00
PKR 80,000.00
PKR 75,000.00
PKR 135,000.00
PKR 31,445.00
PKR 40,400.00
PKR 92,710.00
PKR 135,272.00
PKR 97,155.00
PKR 4,950.00
PKR 165,695.00
PKR 5,050.00
PKR 10,050.00
PKR 20,400.00
PKR 27,200.00
PKR 2,620.00
PKR 15,000.00
PKR 13,000.00
PKR 32,500.00
PKR 2,800.00
PKR 90.00
PKR 4,800.00
PKR 5,500.00
PKR 1,738.00
PKR 10,000.00

PKR 6,000.00
PKR 10,000.00
PKR 1,218,640.00

PKR 1,218,640.00

Adjustment Ledge Accounts

Office Equip Exp. A/C (AL-1)
Date

Particulars

Folio

Rs. Amount (Dr.)

Date

31-Dec

Balance b/f

PKR 5,500.00

31-Dec
31-Dec

PKR 5,500.00

Unused Office Equip Exp. A/C (AL-2)

Date

Particulars

Folio

Rs. Amount (Dr.)

31-Dec

Office Equip Exp

AL1

PKR 500.00

Date
31-Dec

PKR 500.00

Insurance A/C (AL-3)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date

31-Dec

Balance b/f

PKR 6,000.00

31-Dec
31-Dec

PKR 6,000.00

Prepaid Insurance A/C (AL-4)

Date

Particulars

Folio

Rs. Amount (Dr.)

31-Dec

Insurance

AL3

PKR 1,000.00

Date
31-Dec

PKR 1,000.00

Rental Income A/C (AL-5)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date

31-Dec

Advance Rental Income

AL6

PKR 2,500.00

31-Dec

31-Dec

Profit & Loss

PKR 7,500.00
PKR 10,000.00

Advance Rental Income A/C (AL-6)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 2,500.00
PKR 2,500.00

Rent Exp. A/C (AL-7)

Date

Particulars

31-Dec

Balance b/f
Acc.Rent Exp

Folio

Rs. Amount (Dr.)

Date

PKR 27,200.00
AL8

PKR 2,800.00
PKR 30,000.00

31-Dec

Accrued Rent Exp. A/C (AL-8)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 2,800.00
PKR 2,800.00

Light Exp. A/C (AL-9)

Date

Particulars

31-Dec

Balance b/f
Acc.Light Exp

Folio

Rs. Amount (Dr.)

Date

PKR 20,400.00
AL10

PKR 1,600.00

31-Dec

PKR 22,000.00

Accrued Light Exp. A/C (AL-10)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 1,600.00
PKR 1,600.00

Prov.for Dep on Machinery A/C(AL-11)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 23,600.00

31-Dec

PKR 23,600.00

Prov.for Dep on Building A/C(AL-12)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 24,700.00
PKR 24,700.00

Prov.for Dep on Furniture A/C (AL-13)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 5,000.00

PKR 5,000.00

Loose Tools A/C (AL-15)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 75,000.00
PKR 75,000.00

31-Dec

Bad Debt Exp. A/C (AL-16)

Date

Particulars

Folio

Rs. Amount (Dr.)

31-Dec

Prov. for Bad Debt on Debtors

AL17

PKR 808.00

Date
31-Dec

PKR 808.00

Prov. for Bad Debt on Dedtors A/C (AL-17)

Date

Particulars

Folio

Rs. Amount (Dr.)

Date
31-Dec

31-Dec

Balance c/f

PKR 808.00
PKR 808.00

Depreciation Expense A/C (AL-18)

Date

Particulars

Folio

Rs. Amount (Dr.)

Dep on Machinery

PKR 10,000.00

Dep on Furniture

PKR 5,000.00

Dep on Building

PKR 18,500.00

Revaluation of Loose Tools

PKR 5,000.00
PKR 38,500.00

Date
31-Dec

p. A/C (AL-1)
Particulars

Folio

Rs. Amount (Cr.)

Unused Office Equip Exp.

AL2

PKR 500.00

Profit & Loss

PKR 5,000.00
PKR 5,500.00

Exp. A/C (AL-2)

Particulars

Folio

Rs. Amount (Cr.)

Balance c/f

PKR 500.00
PKR 500.00

C (AL-3)
Particulars

Folio

Rs. Amount (Cr.)

Prepaid Insurance

AL4

PKR 1,000.00

Profit & Loss

PKR 5,000.00
PKR 6,000.00

e A/C (AL-4)
Particulars

Folio

Rs. Amount (Cr.)

Balance c/f

PKR 1,000.00
PKR 1,000.00

A/C (AL-5)
Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

PKR 10,000.00

PKR 10,000.00

ome A/C (AL-6)

Particulars

Folio

Rs. Amount (Cr.)

Rental Income

AL5

PKR 2,500.00

PKR 2,500.00

C (AL-7)
Particulars

Folio

Rs. Amount (Cr.)

Profit & Loss

PKR 30,000.00
PKR 30,000.00

p. A/C (AL-8)
Particulars

Folio

Rs. Amount (Cr.)

Rent Expense

AL7

PKR 2,800.00

PKR 2,800.00

C (AL-9)
Particulars

Folio

Rs. Amount (Cr.)

Profit & Loss

PKR 22,000.00
PKR 22,000.00

p. A/C (AL-10)
Particulars

Folio

Rs. Amount (Cr.)

Light Expense

AL9

PKR 1,600.00

PKR 1,600.00

hinery A/C(AL-11)
Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

PKR 11,800.00

Depreciation Exp

AL14

PKR 11,800.00
PKR 23,600.00

ding A/C(AL-12)
Particulars

Folio

Rs. Amount (Cr.)

Depreciation Exp

AL14

PKR 24,700.00

PKR 24,700.00

iture A/C (AL-13)

Particulars

Folio

Rs. Amount (Cr.)

Depreciation Exp

AL14

PKR 5,000.00

PKR 5,000.00

C (AL-15)
Particulars

Folio

Rs. Amount (Cr.)

Balance b/f

PKR 5,000.00

Depreciation Exp

AL14

PKR 70,000.00
PKR 75,000.00

A/C (AL-16)
Particulars

Folio

Rs. Amount (Cr.)

Profit & Loss

PKR 808.00
PKR 808.00

Dedtors A/C (AL-17)

Particulars

Folio

Rs. Amount (Cr.)

Bad Debt Exp

AL16

PKR 808.00

PKR 808.00

nse A/C (AL-18)

Particulars
Balance c/f

Folio

Rs. Amount (Cr.)

PKR 38,500.00

PKR 38,500.00

Trading & Profit and Loss A/c

As on 31 Dec 2013
Particulars

Rs. Amount

Opening Stock
Purchases

PKR 135,000.00
Rs. 97155

Less: Return

Rs.

(4950)

Add: Carriage

Rs.

24375

Clearing Charges
Gross Profit c/f

PKR 116,580.00
PKR 4,800.00
PKR 204,265.00
PKR 460,645.00

Carriage Expense

PKR 8,125.00

Wages

PKR 10,050.00

Light Expense

PKR 22,000.00

Rent Expense

PKR 30,000.00

Geneal Expens
Salaries

PKR 2,620.00
PKR 13,000.00

Transport Expense

PKR 2,800.00

Offiecs Equip Expense

PKR 5,000.00

Disount Allowed

PKR 1,738.00

Insurance

PKR 5,000.00

Bad Debt Written Of

PKR 10,000.00

Depreciation Expense

PKR 38,500.00

New Bad Debt

Net Profit

PKR 808.00
PKR 62,214.00
PKR 211,855.00

ing & Profit and Loss A/c

As on 31 Dec 2013
Particulars
Sales
Less: Return
Closing Stock

Rs. Amount
Rs. 165695
Rs. (5050)

PKR 160,645.00
PKR 300,000.00

PKR 460,645.00
Gross Profit b/f
Discount Received
Rental Income

PKR 204,265.00
PKR 90.00
PKR 7,500.00

PKR 211,855.00

Sialkot Sports Co.

Income Statement
For The Year Ended 31 Dec 2013
Details

Rs. Amount

Rs. Amount

Sales:
Sales:
Sale Returns

PKR 165,695.00
PKR 5,050.00

Net Sales
Cost of Goods Sold:
Opening Stock

PKR 135,000.00

Purchases:
Purchases

PKR 97,155.00

Purchases Returns

PKR 4,950.00

Clearning Charges

PKR 4,800.00

Carriage Expenses

PKR 24,375.00

Net Purchases

PKR 121,380.00

Cost of Goods Available for Sale

PKR 256,380.00

Closing Stock

PKR 300,000.00

Cost of Goods Sold

Gross Profit
Indirect Incomes:
Discount Received
Rental Income
Indirect Expenses:
Carriage Expense
Wages
Light Expense
Rent Expense
Geneal Expens
Salaries
Transport Expense
Offiecs Equip Expense
Disount Allowed
Insurance
Bad Debt Written Of
Expense Incurred
New Bad Debt
Indirect Expenses:

PKR 90.00
PKR 7,500.00
PKR 8,125.00
PKR 10,050.00
PKR 22,000.00
PKR 30,000.00
PKR 2,620.00
PKR 13,000.00
PKR 2,800.00
PKR 5,000.00
PKR 1,738.00
PKR 5,000.00
PKR 10,000.00
PKR 38,500.00
PKR 808.00
PKR 149,641.00

Net Profit

2013
Rs. Amount

PKR 160,645.00

PKR 43,620.00
###

PKR 62,214.00

###

Sialkot Sports Co.

Closing Balance Sheet
As on 31 December 2013
Liabilities & Captial

Rs. Amount

Captial
Capital
Add: Net Profit

Rs. 622,400
Rs. 62214

Less: Drawing

Rs. (15,000)

PKR 669,614.00

Long Term Liablities

Loan From SME

PKR 200,000.00

Current Liablities
Creditiors:
Karachi Traders

PKR 75,000.00

Multan Traders

PKR 78,380.00

Fazal Karim & Sons.

PKR 62,125.00

Rental Income

PKR 2,500.00

Acc: Rent

PKR 2,800.00

Acc: Light Exp

PKR 1,600.00

PKR 1,092,019.00

Sialkot Sports Co.

osing Balance Sheet

n 31 December 2013
Assests

Rs. Amount

Fixed Assets
Furniture
Less: Provision
Building
Less: Provision

Rs. 50,000
Rs. 5,000
Rs. 125,000
Rs. (10000)

Motor Vehicle
Machinery
Less: Provision

PKR 45,000.00
PKR 115,000.00
PKR 200,000.00

Rs. 80,000
Rs. (18500)

PKR 61,500.00

Loose Tools

PKR 70,000.00

Current Assets
Closing Stock

PKR 300,000.00

Debtors:
Sharry
Abdullah

PKR 31,445.00
Rs. 40400

Prrov. For Bad Debt Rs. (808)

PKR 39,592.00

Cash at Bank

PKR 92,710.00

Cash In Hand

PKR 135,272.00

Unused Office Equi Exp.

Prepaid Insurance

PKR 500.00
PKR 1,000.00
PKR 1,092,019.00