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    Balance Sheet For 1999: Total Assets 5,013,670 Liabilities

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    Kalyan Mukkamula
    The document contains balance sheets for 1999 and 2000 and an income statement for Mansa Building. The balance sheets show the company's assets, which include cash, receivables, prepaid expenses, land, and buildings, and liabilities which include owner's equity, outstanding charges, taxes, and retained earnings. The income statement shows the company had total income of $709,000 from rent and premium payments, and total expenses of $437,160 including depreciation, taxes, insurance, repairs, and other costs, resulting in an operating profit of $271,840.

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    Balance Sheet For 1999: Total Assets 5,013,670 Liabilities

    Uploaded by

    Kalyan Mukkamula
    16 views4 pages
    The document contains balance sheets for 1999 and 2000 and an income statement for Mansa Building. The balance sheets show the company's assets, which include cash, receivables, prepaid expenses, land, and buildings, and liabilities which include owner's equity, outstanding charges, taxes, and retained earnings. The income statement shows the company had total income of $709,000 from rent and premium payments, and total expenses of $437,160 including depreciation, taxes, insurance, repairs, and other costs, resulting in an operating profit of $271,840.

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    Manasa Building

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    The document contains balance sheets for 1999 and 2000 and an income statement for Mansa Building. The balance sheets show the company's assets, which include cash, receivables, prepaid expenses, land, and buildings, and liabilities which include owner's equity, outstanding charges, taxes, and retained earnings. The income statement shows the company had total income of $709,000 from rent and premium payments, and total expenses of $437,160 including depreciation, taxes, insurance, repairs, and other costs, resulting in an operating profit of $271,840.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    16 views4 pages

    Balance Sheet For 1999: Total Assets 5,013,670 Liabilities

    Uploaded by

    Kalyan Mukkamula
    The document contains balance sheets for 1999 and 2000 and an income statement for Mansa Building. The balance sheets show the company's assets, which include cash, receivables, prepaid expenses, land, and buildings, and liabilities which include owner's equity, outstanding charges, taxes, and retained earnings. The income statement shows the company had total income of $709,000 from rent and premium payments, and total expenses of $437,160 including depreciation, taxes, insurance, repairs, and other costs, resulting in an operating profit of $271,840.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    balance sheet for 1999

    Cash 1,289,420
    Rent Receivable 4250
    Pre paid colle ction charges (4%@5,000)
    prepaid insurance
    Prepaid Painting Expenses
    Payment
    Land 1,200,000
    Building (After Depreciation 1,20,000) 2,520,000
    Total Assets 5,013,670
    Liabilities
    Owner's Equity 4,800,000
    Outstanding Collection Charges 170
    Outstanding Property Rate and Taxes 60000
    Advance Rent Received
    Retained Earnings 153500

    Total Liabilities 5,013,670


    balance sheet for 2000

    Cash 1,474,440
    Rent Receivable 74500
    Pre paid colle ction charges (4%@5,000) 200
    prepaid insurance 10000
    Prepaid Painting Expenses 40000
    Payment 25000
    Land 1,200,000
    Building (After Depreciation 1,20,000) 2,400,000
    Total Assets 5,224,140
    Liabilities
    Owner's Equity 4,800,000
    Outstanding Collection Charges 3800
    Outstanding Property Rate and Taxes 60000
    Advance Rent Received 5000
    Retained Earnings 355,340

    Total Liabilities 5,224,140

    Mansa Building
    Income statement
    Revenue ( 53,750-3000=50750 x 12) 609,000
    Payment Received for Premium 100,000
    (A) Total Income 709,000
    Expenses
    Depreciation 120,000
    Collection Charges
    (6,09,000x 0.04) 24,360
    Property Rate and Taxes 240,000
    Insurance Premium 10,000
    Repair 1,770
    Interior Pinting 10,000
    Exterior painting 30,000
    Printing and others 250
    Postage and Telegrams 500
    Bank Charges 280

    (B) Total Expenses 437160


    Operating Profit (A-B) 271,840
    Op. ret earnings 153500
    Add: Net profit 271,840
    Less Drawings 100000
    30000
    Ret earnings closing 355340

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