ABSOLUTE FIT

INTRODUCTION
Aditya B, Aditi, Pratik and Shatakshi are college friends and
have recently graduated. They have decided to commence a Gym
business on the top floor of a building (hall), Kharghar – 410210. We
took a loan from SBI (State Bank of India).

ADDITIONAL INFORMATION
1. It’s a General Partnership
2. Aditya is an active partner
Aditi is an active partner
Pratik is an active partner
Shatakshi is a sleeping partner
3. The name of the gym is Absolute Fit
4. The gym is in sector – 8 , Laxmi Heights , 15 th floor ( hall)
5. In Gym there are :
2 Washroom
1 Locker room
1 Gym / Exercise Room
6. There 2 Trainers and 1 Cleaner in the Gym
7. Capital invested by each member :
Aditya - 2,50,000
Aditi - 2,50,000
Pratik – 2,50,000
Shatakshi – 2,50,000
Total Capital – 10,00,000
8. Profit Ratio – Profit is distributed equally among all of us

ASSETS
Sr.No Asset Quantity Price Total
1. Treadmills 5 25,000 1,25,000
2. Exercise Balls 2 500 2,000
3. Skipping Ropes 20 150 3,000
4. Balancing Boards 50 500 25,000
5. Gym Bikes 5 25,000 1,25,000
6. Lockers 100 1,000 1,00,000
7. Dumbbell Stand 1 5,000 5,000
8. Incline Bench Press 2 4,000 8,000
9. Weight plate Stand 2 2,500 5,000
10. Pulley Machine 3 10,000 30,000
11. Pull Up Bars 2 2,000 4,000
12. 2.5 Kg Dumbbells 4 500 2,000
13. 5 Kg Dumbbells 4 1,000 4,000
14. 10 Kg Dumbbells 4 2,000 8,000
15. 25 Kg Dumbbells 4 5,000 20,000
16. 50 Kg Dumbbells 4 10,000 40,000
17. 100 Kg Dumbbells 4 25,000 1,00,000
18. 2.5 Kg Plates 10 1,000 10,000
19. 10 Kg Plates 5 4,000 20,000
20. 15 Kg Plates 5 5,000 25,000
21. 20 Kg Plates 5 8,000 40,000
22. 50 Kg Plates 5 10,000 50,000
23. Exercise Ball 2 500 1,000
24. Hack Squat 2 10,000 20,000
25. Multi Gym Machine 2 1,10,000 2,20,000
26. Clocks 2 1,000 2,000
27. Speakers 4 5,000 20,000
28. Air Conditioner 4 50,000 2,00,000
29. Wifi Router 2 2,500 5,000
30. Tables 1 25,000 25,000
31. Chairs 5 1,000 5,000
32. CCTVs 5 5,000 25,000
33. Tube Lights / Bulbs 20 500 10,000
34. Laptop 1 50,000 50,000
TOTAL 13,34,000
 INCOME
Sr.No INCOME LIABILITY
PER MEMBER TOTAL
1. Membership x 70 25,000 17,50,000
Liabilities Name of Bank Amount Time Rate of Collateral
Interest
2. Personal Trainer x 35 40,000 14,00,000
Loan taken State Bank of India 12 Lakhs 20 Years 5% P.A 4 plots of land
from Bank (SBI) TOTAL 31,50,000 ( 1 by each )

EXPENSES
Sr.No EXPENSES AMOUNT

1. Advertisement 100,000

2. Rent ( monthly 40,000) 4,80,000

Salary :

3. ( Trainers 2 – 20,000 monthly ) 2,40,000

( Cleaner 1 – 6,000 monthly 72,000

4. Repair and Maintenance 20,000

5. Electricity Bill ( 25,000 monthly ) 3,00,000

6. Partnership Registration 1,715

7. Wifi Bill 12,000

8. EMI on Loan 1,80,000

9. GST Registration

TOTAL 14,05,715
ADJUSTMENTS:
 Depreciation on furniture 8% p.a.
 Depreciation on electrical equipment’s 10% p.a.
 Depreciation on Gym equipment’s 5% p.a.
 Pre-Paid Rent Rs 40000
 Outstanding Salary Rs 46000