Accounts Accounts sub Accounts Financial Statement

Assets Assets Current Assets Balance Sheet

Liabilities Assets Fixed Assets Balance Sheet
Equity Liabilities Current liabilities Balance Sheet
Expenses Liabilities Fixed Liabilities Balance Sheet
Revenue Equity Equity Balance Sheet
Expenses Expenses Income Statement
Revenue Revenue Income Statement
Revenue Contra Rervenue Income Statement
Individual Accounts Sub Accounts
Cash Current Assets
Equity-Jack Equity
Bank- CRDB Current Assets
Inventory Current Assets
Mr. Erick Current liabilities
Sales Revenue
Cost of Goods Sold Expenses
Mr. Stephen Current Assets
Electricity Expenses
Salary Expenses
Date Description Account
1-Jan-24 Establishing a Business Cash
1-Jan-24 Establishing a Business Equity-Jack
2-Jan-24 Deposit into Bank Bank- CRDB
2-Jan-24 Deposit into Bank Cash
3-Jan-24 Purchased Inventory Inventory
3-Jan-24 Purchased Inventory Mr. Erick
4-Jan-24 Purchased Inventory Inventory
4-Jan-24 Purchased Inventory Bank- CRDB
10-Jan-24 Sold inventory for cash Cash
10-Jan-24 Sold inventory for cash Sales
10-Jan-24 Adjust inventory against C Cost of Goods Sold
10-Jan-24 Adjust inventory against C Inventory
15-Jan-24 Sold inventory on Credit Mr. Stephen
15-Jan-24 Sold inventory on Credit Sales
15-Jan-24 Adjust inventory against C Cost of Goods Sold
15-Jan-24 Adjust inventory against C Inventory
18-Jan-24 Paid Electricity Electricity
18-Jan-24 Paid Electricity Bank- CRDB
30-Jan-24 Paid Salary Salary
30-Jan-24 Paid Salary Cash
2-Feb-24 Paid to Mr. Erick Mr. Erick
2-Feb-24 Paid to Mr. Erick Cash
5-Feb-24 Received from Mr. Stephen Bank- CRDB
5-Feb-24 Received from Mr. Stephen Mr. Stephen
Debit Credit
1,000,000
1,000,000
500,000
500,000
600,000
600,000
200,000
200,000
400,000
400,000
300,000
300,000
300,000
300,000
150,000
150,000
15,000
15,000
100,000
100,000
100,000
100,000
150,000
150,000
Comments Establishing a business
Deposit 500000 into Ba
Purchases Inentory of 6
Purchased inventory of
Sold inventory for 4000
Sold inventory for 3000
Paid electricity bill of 15
Establishing a business by Jackson on 1 jan. 2024 with 1000000
Deposit 500000 into Bank on 2nd jan
Purchases Inentory of 600000 on credit from Mr. Erick
Purchased inventory of 200000 by paying through cheque from Ms. Lilian
Sold inventory for 400000 on cash on 10 jan 2024
Sold inventory for 300000 on credit on 15 jan 2024 to Mr. Stephen
Paid electricity bill of 15000
Inventory Current Assets
Date Account
3-Jan-24 Inventory
4-Jan-24 Inventory
10-Jan-24
15-Jan-24 Inventory
Total Result
 Current Assets
Data
Description Sum of Debit Sum of Credit
Purchased Inventory 600,000
Purchased Inventory 200,000
700,000 700,000
Adjust inventory against COGS 150,000
1,500,000 850,000
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 TRIAL BALANCE
Data
Account Sum of Debit
Bank- CRDB 650,000
Cash 1,400,000
Cost of Goods Sold 450,000
Electricity 15,000
Equity-Jack
Inventory 800,000
Mr. Erick 100,000
Mr. Stephen 300,000
Salary 100,000
Sales
Total Result 3,815,000
RIAL BALANCE
Sum of Credit
215,000
700,000

1,000,000
450,000
600,000
150,000

700,000
3,815,000
Current Assets #N/A
Current Assets #N/A
Expenses Income Statement
Expenses Income Statement
Equity Balance Sheet
Current Assets #N/A
Current liabilities #N/A
Current Assets #N/A
Expenses Income Statement
Revenue Income Statement
 JACKSON COMPANY LTD
INCOME STATEMENT
for the period of 1st jan 2024 to 31st March 2024

Sales
Cost of Goods Sold
Gross Profit

OPERATING EXPENSES
Salary 100,000
Electricity 15,000
Total of Operating Expenses
Operating Profit
Taxes (30%)
Net Profit
Y LTD
NT
31st March 2024

700,000
(450,000)
250,000

(115,000)
135,000
(40,500)
94,500