FA Assignment by Vivek Patodia (Roll 309)

Cash Accounts Receivable Prepaid Advertising

1 1,65,000 2,700 2 11 2,200 9 6,000 3,000 17
11 93,800 14,400 3 2,200 3,000
5,000 4
15,000 4a Buildings and Renovations
1,00,000 5a 3 5,000
6,700 6 4 20,000
1,000 7 25,000
500 8
6,000 9
62,000 12 Software
45,500 7 1,000 100 14
900
Tape Inventory Land
5 1,00,000 18,021 15 3 43,000
10 18,750 43,000 Mortgage Payable
1,00,729 33,600 3
33,600

Equipments Accumulated Depreciation

6 6,700 1,170 13
6,700 1,170
Sales Revenue
96,000 11
Accounts Payable Accrued Interest Expense A 96,000
4a 15,000 15,000 4 2,900 16
5a 1,00,000 1,00,000 5 2,900
18,750 10 Software Amortization
18,750 14 100
100 D

Common Stock Retained Earnings

1,65,000 1 5,609 J Interest Expenses
1,65,000 5,609 16 2,900
2,900 G
 Tape Amortization Depreciation Expenses
15 18,021 13 1,170
18,021 B 1,170 C

Salaries and Wages Legal fees

12 62,000 2 2,700
62,000 E 2,700 F

Advertising Expenses Office Supplies Expenses

17 3,000 8 500
3,000 H 500 I

Thumbs Up Video, Inc. Thumbs Up Video, Inc.

Income Statement Statement of Financial Position
for the period ending 30th June, 1989 as on 30th June, 1989
Revenue 96,000 A Assets
Expenses Land 43,000
Tape Amortization 18,021 B Buildings and Renovations 25,000
Depreciation Expenses 1,170 C Less: Accumulated Dep -500 24,500
Software Amortization 100 D Equipment 6,700
Salaries and Wages 62,000 E Less: Accumulated Dep -670 6,030
Legal Fee 2,700 F Tape Inventory 1,18,750
Interest Expense 2,900 G Less: Amortization -18,021 1,00,729
Advertising Expense 3,000 H Software 1,000
Office Supplies Expense 500 I Less: Amortization -100 900
Net Income 5,609 J Accounts Receivable 2,200
Prepaid Advertising 3,000
Cash 45,500
Total Assets 2,25,859
Liabilities and Equity
Mortgage Payable 33,600
Add: Accrued Interest Expense 2,900 36,500
Accounts Payable 18,750
Common Stock 1,65,000
Retained Earnings 5,609 1,70,609
Total Liabilities and Equity 2,25,859