MEDED KEMAL (HARMON CAFE)

Income statements for the Year Ended July 07/2020

Sales-----------------------------------------------------------------------------------------------------452152.53
Purchase
Beginning Inventory Count -------------------------26608
Purchase-----------------------------------------------177860.34
Cost of good available for sales-----------------204468.34
Ending inventory----------------------------------- (17391)
Cost of goods sold---------------------------------------------------------------------------------------187077.34
Gross profit/loss----------------------------------------------------------------------------------------265075.19

Administrative expense
Salary expenses-------------------------------------------------------98400
Pension expense------------------------------------------------------5544
Rent expenses---------------------------------------------------------84000
Printing expenses-----------------------------------------------------1570.64
Miscellaneous expenses---------------------------------------------3203.52
Utility expenses--------------------------------------------------------4534.22
Depreciation expenses-----------------------------------------------6083.90
Total administrative expenses-----------------------------------------------------------------------203336.28
Income before tax---------------------------------------------------------------------------------------61738.91
Income tax ((61738.91×20%)-3630)) ---------------------------------------------------------------8717.78
Net income after tax-----------------------------------------------------------------------------------53021.13
 MEDED KEMAL (HARMON CAFÉ)
Balance sheet for the year ended July 07/2020
Assets
Current Assets
Cash on hand--------------------------------------122211.05
Inventory-------------------------------------------17391

Total current assets----------------------------------------------139602.05

Fixed Assets
Fixed asset purchase----------------------------206661.81
Accumulated depreciation------------------- (7478.11)
Book value---------------------------------------199183.70

Total fixed assets------------------------------------------------199183.70

Total Assets---------------------------------------------------------------------------------------------338785.75

Liabilities
Income tax payable----------------------------------8717.78
Vat payable--------------------------------------------7425.66
Total liabilities---------------------------------------------------------------16143.44

Capital
Meded Kemal capital------------------------------269621.18
Net income/loss------------------------------------53021.13
Total capital------------------------------------------------------------------322642.31

Total Liabilities and Capital------------------------------------------------------------------------338785.75

 MEDED KEMAL (HARMON CAFÉ)
Evaluations of Ending inventories July 07/2020

NO. Name inventories Evaluation Unit Quantity Unit price Total price
date
1 Coca cola 07/07/20 Case 100 173.91 17391
Total 17391
NB: - The above table states that evaluations of inventories on 07/07/20 G.C by using Average
weighted methods.
 MEDED KEMAL (HARMON CAFÉ)
Calculation of deprecation expenses for Fixed Assets July 07/2020
Name of fixed Purchase Price Year of Depreca Rate deprecation Book
Assets Date Deprecati tion cost Value
on Method
2012 E.C
Equipment & property 2010E.C 159900 2012 E.C Pooling 20% 0 159900
Aluminum table 27/12/18 3478.25 2012 E.C // 20% 626.08 2504.34
Plastic chair & Melamnemdf 31/12/19 31304.43 2012 E.C // 20% 3652.18 27652.25
Commercial Blender 30/12/19 6956.52 2012 E.C // 20% 811.59 6144.93
Bifitu xtra 12/09/18 5022.61 2012 E.C Pooling 25% 994.05 2982.18
TOTAL 6083.90 199183.70
 MEDED KEMAL (HARMON CAFE)
FINACIAL STATEMENTS FOR 2012 E.C
TIN NO. 0057956533