MAYNARD COMPANY

Income statement for the year ended june 30 1 cost of sales

particulars amt amt opening accounts
receivable
revenue from sales Bal fig
cash sales 44420 less cash receipts
closing accounts
credit sales 26505 receivables
total sales 70925
less cost of sales 39345 2 cost of sales

gross profit 31580 opening inventory

add cash purchase
less operating exp add credit purchase
wages 5888
utilities 900 less closing inventory
supplies 600 cost of sales
misc. payments 135
insurance 324 3 wages paid
dep on building 1950
dep on equipment 624 10421 closing wages
profit before tax 19635 add wages paid
less tax 1524 less opening wages
profit after tax 19635
less dividend 11700 wages
transffered to retained earning 7935
4 supplies

opening
add purchase of supplies
less clossing supplies

5 opening
insurance
insurance
payable
closing insurance
less payable
depreciation on
6 building
closing dep on
building
opening dep on
less building
depreciation on
7 equipment
closing dep
less opening dep
 tax
closing tax payable
less opening tax payable

retained earnings

closing balance
less opening balanc
 Balance sheet of maynard company
As on 30 june
ASSETS Amount Amount
21798 Non current assets
X 26505 building 585000
21798 less: dep 157950 427050
26505 land 89700
equipment 36660
less:dep 5928 30732
other non current assets 5265
29835 total non current assets 552747
14715
21315 current assets
65865 accounts receivable 26505
26520 prepaid insurance 2826
39345 inventory 26520
supplies in hand 6630
cash 66660
total current assets 129141
2202
5660 total assets 681888
1974
EQUITIES AND LIABILITIES amt amt
5888
equity share capital 390000
retained earnings 229446
total equity
5559
1671 LIABILITIES
6630 Non current liabilities
600 other non current liabilities 2451

3150 current liabilities

2826 accounts payable 21315
324 wages payable 2202
tax payable 7224
bank note payable 29250
157950
156000 totalliabilities 681888
1950

5928
5304
 624

7224
5700
1524

229446
221511
7935
 LEISURE COMPANY LTD LEISURE COMPANY LTD
Income statement for the year ended july 31st Trail balnce for the year ended ju

Particulars amt amt Particulars

Revenue from operations swimimg pool

revenue from services 17040 tennis court
total revenue 17040 supplies
trade receivables
less expenses cash
salaries exp 4200 prepaid insurance
telephone exp 290 unearned revenue
electricity bill 280 share capital
dep on pool 200 dividends
dep on court 100 revenue from service
insurance paid 100 salaries exp
supplies exp 2090 telephone exp
subscription revenue
total exp 7260 electricity bill
electricity bill payable
profit before tax 9780 accumulted dep
less tax 0 salariespayable
trade payables
profit after tax 9780 insurance paid
less dividend 800 dep
total
profit transferred to 8980
 LEISURE COMPANY LTD LEISURE COMPANY LTD
ail balnce for the year ended july 31st balance sheet for the year ended july 31st

Particulars amount amount ASSETS amt

swimimg pool 12000 Non current assets

tennis court 9600 swimming pool 12000
supplies 1190 less dep 200
trade receivables 2910 tennis court 9600
cash 940 less dep 100
prepaid insurance 1100 current assets
unearned revenue 1800 trade receivables
share capital 15000 cash
dividends 800 prepaid insurance
revenue from service 17040 supplies
salaries exp 4200 unbilled revenue
telephone exp 290 total assets
subscription revenue 1200 Equity and LIABILITIES
electricity bill 280
electricity bill payable 280 capital 15000
accumulted dep 300 other equity 8980
salariespayable 1290
trade payables 1290 total equity
insurance paid 100
dep 300 liabilities
total 37000 37000 current liab
trade payble 1290
salaries payable 1290
electricity bill ayable 280
unearned revenue 1800

total current liabilities

total equity and liability

amt

11800

9500

2910
940
1100
1190
1200
28640

23980

4660

28640
 BACKBAY COMPANY BACKBAY CO
Trail balance as on february 28th Income statement as
PARTICULARS AMOUNT AMOUNT particulars

Office equipment
Accumulated depreciation 7000 revenue from operations
-office equipment 1250 total revenue
Office supplies 3200
trade receivables 3500 less expenses
cash 770 salaries exp
prepaid rent 1600 telephone exp
trade payables 1100 dep
unearned revenue 190 rent paid
share capital 10000 inv used
retained earning 2100
dividend 1400 total expense
revenues from services 9010
salaries expense 4340 profit before tax
telephone expense 730
salaries payable 540 less tax
depreciation 250
rent paid 800 profit after tax
inventory used 600

total 24190 24190

 BACKBAY COMPANY BACKBAY COMPANY
Income statement as on february 28th Balance sheet as on 28 feb
particulars amount amount
ASSETS amt amt
revenue from operations 9010 non current assets
total revenue 9010 office equipment 7000
less dep 1250 5750
expenses
salaries exp 4340 current assests
telephone exp 730 office supplies 3200
dep 250 trade receivables 3500
rent paid 800
inv used 600 prepaid rent 1600
cash 770
total expense 6720
total assets 14820
profit before tax 2290
EQUITY AND LIABILITIES amt amt
tax 0
owners equity 10000
profit after tax 2290 other equity(note 1) 2990 12990

liabilities

current liabilities
trade payables 1100
unearned revenue 190
sal pay 540
total equity and liailities 14820

Note 1 calculation of other

quity

particulars amt

opening retained earnings 2100

add profit after tax 2290
less dividend 1400

closing retained earnings 2990

 NAVEEN PACAKGING NAVEEN PAC
Trial balance as on dec 31 Income statement
particulars amount amount particulars
packging equipment 30000 revenue from operations
accumulated dep-packaging equipment 12000 revenue from services
office equipment 10000 total revenue
accumulated dep-office equipment 4000
packaging supplies 2360 less: expenses
office supplies 1190 salariees exp
trade receivables 3560 adv exp
cash 8820 telephone exp
prepaid rent 2520 elec exp
bills payable 2500 rent paid
trade payable 1360 dep on pack equip
unearned revenue 760 dep on office sup
share capital 35000 inv used pack
retained earnings 1350 inv. Used office supp
dividend 2500 accrued int
revenue from service(41260+1040+1390) 43690
salaries exp 15880 total exp
advertisment exp 4400
telephone exp 1400 profit before tax
electricity exp 2340 less: tax
salaries payable 970
prepaid adv exp 400 profit after tax
telephone bill payable 200
rent paid 7080
accrued interest 125
dep on pack equip 3000
dep on office supp 1000
inventory of packaging used 3920
inventory of office supplies used 1460
accrud int pay 125
income tax 1600
income tax payable 1600

total 103555 103555

 NAVEEN PACAKGING NAVEEN PACKAGING
Income statement as on dec 31st Balance sheet as on dec 31st
particulars amt amt ASSETS Amt
evenue from operations
revenue from services 43690 Non current assets
total revenue 43690 packaging equip 30000
less dep 12000
less: expenses office equipment 10000
salariees exp 15880 less dep 4000
adv exp 4400
telephone exp 1400 current assets
elec exp 2340 pack supp 2360
rent paid 7080 office supp 1190
dep on pack equip 3000 trade receivables 3560
dep on office sup 1000 cash 8860
inv used pack 3920 prepaid ent 2520
inv. Used office supp 1460 pepaid adv 400
accrued int 125
total assets
total exp 40605
EQUITY AND LIABILTIES
profit before tax 3085
less: tax 1600 owner equity 35000
other equity 335
profit after tax 1485
total equity

liabilities
current liablities
bill payable 2500
trade payable 1360
unearned rev 760
int pay 125
salaries pay 970
telephone bill payable 200
income tax payable 1600

total equity and liabilities

amt

18000

6000

42850

35335

42850
 JOURNAL ENTERIES IN BOOK OF KAPOOR SOFTWARE LTD

DATE PARTICULARS L.F DEBIT CREDIT

600000
Bank A/C Dr
1-Jun To share capital A/C 600000
25000
bank A/C Dr
1-Jun To bank loan A/c 25000
2500

Office rent A/C Dr

2-Jun To Bank A/C 150002500
42000
Office equipment a/c Dr to
bank a/c
6-Jun to accounts payable
3900 27000
office supplies a/c Dr To
Accounts payable
8-Jun 3900
29200
Account receivables Dr
10-Jun To revenue for services 29200
3900
Accounts payables A/C Dr 3190
To Bank A/C
16-Jun To suppliers A/C 710
Bank A/c Dr 14100
To accounts
19-Jun Receivables 14100
19400
Accounts receivable A/C Dr
20-Jun to revenue for services 19400
9800
bank A/C Dr
To income received in
23-Jun advance 9800
620
Suppliers A/C Dr
27-Jun To bank A/C 620
Bank A/c Dr 7100
To accounts
28-Jun Receivables 7100
14000
Bank loan A/C DR Interest
paid A/C DR To Bank
29-Jun A/c 340 14340
16500
Salaries A/C Dr
30-Jun To bank A/C 16500
Supplies consumed A/C Dr 1410
To Suppplies
30-Jun A/C 1410
450
Electricity A/C Dr
30-Jun To O/S Electricity A/C 450
 LEDGER ACCOUNTS

BANK A/C

DR
DATE PARTICULARS LF AMT DATE PARTICULARS

1-Jun TO SHARE CAPITAL 60000 2-Jun BY OFFICE RENT

1-Jun TO BANK LOAN 25000 6-Jun BY OFFICE EQUIPMENT
19-Jun TO ACCOUNTS RECEIVABLE 14100 16-Jun BY ACCOUNTS PAYABLE
TO INCOME RECEIVED IN
23-Jun ADVANCE 27-Jun BY SUPPLIES
28-Jun TO ACCOUNTS RECEIVABLE 7100 29-Jun BY BANK LOAN
TO INCOME RECEIVED IN
23-Jun ADVANCE 9800 29-Jun BY INTEREST
BY SALARIES
BY BAL C/D
116000
1-Jul TO BAL B/D 63850
LTD
 CR
PARTICULARS LF AMT

Y OFFICE RENT 2500

FFICE EQUIPMENT 15000
COUNTS PAYABLE 3190

BY SUPPLIES 620
Y BANK LOAN 14000

BY INTEREST 340
BY SALARIES 16500
BY BAL C/D 63850
116000
 ACCOUNTING EQUATION MONEY CARE LTD

ASSETS LIABILITIES + CAPITAL

INCONE
ACCRUED OFFICE RENT REC IN
CASH INCOME SUPP DEPOSIT LOAN ADV.

100000 100000
200000 200000
-700000 70000
-12000 -12000
-11000 -11000
-5000 -5000
-14000 -14000
24100 46700 70800
-1800 1800
9000 9000
460 460

39760 46700 1800 70000 200000 9000 129260

MONEY CARE LTD

P/L Account for thr month ended August 20xx

Particulars amount amount

revenue from operations 70800

other income
interest earned 460

total income 71260

less expenses
computer rent 12000
rent 5000
database fee 11000
salaries 14000

total exp 42000

profit before tax 29260

less tax 0
 profit after tax 29260

MONEY CARE LTD

BALANCE SHEET FOR THE YEAR ENDED AUGUST 20XX

ASSETS AMT AMT

Non current assets 0

current assets
accrude income 46700
rent deposit 70000
cash 39760
office supp 1800

total assets 158260

EQUITY AND LIABILITIES

owner equity 100000
reserve and surplus 29260

total equity 129260

LIABILITIES
Banl loan 20000
inc rec in adv 9000 290000

total liabilities 158260

RE LTD

MONEY CARE LTD

CASH FLOW STATEMENT

PARTICULARS AMT AMT

cash inflow/cash receipt

revenue from services 24100

inc0me rec in adv 9000
int earned 460
capial 100000
bank loan 20000

total cash inflow 153560

cash outflow/cash paid

rent deposit 70000

computer rent 12000
database fee 11000
salaries 14000
rent paid 5000
 off supp 1800 113800

cash balance 39760

 RIBBONS AND BOWS RIBBONS AND BOWS
INCOME STATEMENT AS ON JUNE 30 CASH FLOW STATEMENT AON JU

PARTICULARS AMT AMT PARTICULARS

Revenue from services 7720 cash inflow/cash receipt

less cost of sales 2100 revenue from services
beigning cash
gross margin 5620
total cash inflow
less expenses
rent paid 1800 cash outflow
salaries paid 1600 wages paid
dep on computer 250 rent paid
inventory consumed 80 inv
dep on sweing machine 60 sweing machine
advertisment 150
interest 200 4140 total cash outflow
total exp
cash balance
profit before tax 1480
less tax 0
profit after tax 1480
 RIBBONS AND BOWS RIBBONS AND BOW
SH FLOW STATEMENT AON JUNE 30 BALANCE SHEET AS ON JUNE 30

PARTICULARS AMT AMT ASSETS

cash inflow/cash receipt Cash

revenue from services 7400 accounts rec
beigning cash 4000 supp
prepaid rent
total cash inflow 11400 computer
sweing machine
cash outflow inven
wages paid 1510 cash register deposit
rent paid 1800
inv 2900 total assets
sweing machine 1800
EQUITY AND LIABILITIES
total cash outflow 8010 owner equity
reserve and surplus
cash balance 3390
total equity

liabilities
wages payable
interest owed
cousin loan

total equity and liabilities

 BOW
ON JUNE 30

AMT AMT

3390
320
20
1200
1750
1740
4100
250

12770

1000
1480

11480

90
200
10000

12770