Bingo U Company

Trading Profit and Loss

Account
As at 31 December 2018
$ $
Sales 412,500
COGS
Opening Stock 10,000
Purchases 282,500
Closing Stock 22,000 270,500
Gross Profit 142,000

Operating Expenses
Administration 25,000
Distribution 30,000
Salaries 66,000
Utilities 11,200
Interest 5,800
Bad Debt 2,000
Plant Depriciation 17,500
Rent 20000
Accrued Tax 1,200
Total 178,700
Net Loss -36,700

Balance Sheet
Current Assets $ $
Closing Stock 22,000
Debtor 25,000
Cash 10,000
Total Current Assets 57,000
Non-Current Assets
Plant 332,500
Vehicle 190,000
Goodwill 40,000
License 150,000
Prepaid Rent 1,500
Total non-current Assets 714,000
771,000
Balance Sheet
Equity
Capital 262,000
Net loss -36,700
Total Equity 225,300

Liabilities
Current Liabilities
Creditor 120,000
Accrued Tax 1,200
Salaries 13,000
Total Current Liabilities 134,200

Non-Current Liabilities
Loan 410,000
Bank Overdraft 1,500
Total Non-Current
Liabilities 411,500
Total Equity and Liabilities 771,000
 Bingo U Company
Statement of Financial
Position
As at 31 December 2018
$ $
Sales 412,500
COGS
Opening Stock 10,000
Purchases 282,500
Closing Stock 22,000 270,500
Gross Profit 142,000

Operating Expenses
Administration 25,000
Distribution 30,000
Salaries 66,000 (53,000+13,000)
Utilities 11,200
Interest 5,800
Bad Debt 2,000
Plant Depreciation 17,500
Rent 20,000 (21,500+1,500)
Accrued Tax 1,200
Total 178,700
Retained Earnings -36,700

Balance Sheet
$ $
Current Assets
Closing Stock 22,000
Debtor 25,000
Cash 10,000
Total Current Assets 57,000

Non-Current Assets
Plant 332,500
Vehicles 190,000
License 150,000
Goodwill 40,000
Prepaid Rent 1,500
Total Non-Current Assets 714,000
Total Assets 771,000

Equity and Liabilities

Equity
Capital Tang 157,200
capital Kuki 104800
current account kuki -31658.4
current account Tang -5,042
Total Equity 225,300

Current Liabilities
Creditor 120,000
Accrued Tax 1,200
Total Current Liabilities 121,200

Non-Current Liabilities
Loan 410,000
Salaries 13,000
Bank Overdraft 1,500
Total Non-Current
Liabilities 424,500
Total Equity and Liabilities 771,000

  Appropriation Account    
Loss 36,700  
Salary Kuki 18000 Loss Share
Interest on Capital
Tang 2904 Figu 34562.4
Tring 23041.6
 
 
Total 57,604 Total 57604

 
Current Account
kuki      
Loss 34562.4 interest 2904
 
 
Closing 31658.4
 
Total 34562.4 Total 34562.4
 

  Current Account Tang    

Loss 23041.6 salary 18000
 
 
Closing 5041.6
 
Total 23041.6 Total 23041.6
 

Bingo U Company
 Comprehensive Income
Statement
As at 31 December 2018
$ $
Sales 412,500
COGS
Opening Stock 10,000
Purchases 282,500
Closing Stock 22,000 270,500
Gross Profit 142,000

Operating Expenses
Administration 25,000
Distribution 30,000
Salaries 66,000
Utilities 11,200
Interest 5,800
Bad Debt 2,000
Plant Depriciation 17,500
Rent 20000
Accrued Tax 1,200
Total 178,700
Reserves -36,700

Balance Sheet
Current Assets
Closing Stock 22,000
Debtor 25,000
Cash 10,000
Total Current Assets 57,000
Non-Current Assets
Plant 332,500
Vehicle 190,000
Goodwill 40,000
License 150,000
Prepaid Rent 1,500
Total non-current Assets 714,000
Total Assets 771,000
Balance Sheet
Equity
Share Capital 262,000
Reserves -36,700
Total Equity 225,300

Liabilities
Current Liabilities
Creditor 120,000
Accrued Tax 1,200
Salaries 13,000
Total Current Liabilities 134,200

Non-Current Liabilities
Loan 410,000
Bank Overdraft 1,500
Total Non-Current
Liabilities 411,500
Total Equity and Liabilities 771,000