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    M. M. Rahman Co.: Statement of Financial Position

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    Asiful Islam
    - M/S J K Enterprise's statement of financial position as of December 31, 2018 and income statement for the year then ended are presented. - As of December 31, 2018, total assets were Tk 113.03 crore with equity of Tk 107.33 crore and liabilities of Tk 5.7 crore. - For the year ended December 31, 2018, the company reported a net profit of Tk 74.32 crore on net sales of Tk 737.26 crore.

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    M. M. Rahman Co.: Statement of Financial Position

    Uploaded by

    Asiful Islam
    53 views5 pages
    - M/S J K Enterprise's statement of financial position as of December 31, 2018 and income statement for the year then ended are presented. - As of December 31, 2018, total assets were Tk 113.03 crore with equity of Tk 107.33 crore and liabilities of Tk 5.7 crore. - For the year ended December 31, 2018, the company reported a net profit of Tk 74.32 crore on net sales of Tk 737.26 crore.

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    - M/S J K Enterprise's statement of financial position as of December 31, 2018 and income statement for the year then ended are presented. - As of December 31, 2018, total assets were Tk 113.03 crore with equity of Tk 107.33 crore and liabilities of Tk 5.7 crore. - For the year ended December 31, 2018, the company reported a net profit of Tk 74.32 crore on net sales of Tk 737.26 crore.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    53 views5 pages

    M. M. Rahman Co.: Statement of Financial Position

    Uploaded by

    Asiful Islam
    - M/S J K Enterprise's statement of financial position as of December 31, 2018 and income statement for the year then ended are presented. - As of December 31, 2018, total assets were Tk 113.03 crore with equity of Tk 107.33 crore and liabilities of Tk 5.7 crore. - For the year ended December 31, 2018, the company reported a net profit of Tk 74.32 crore on net sales of Tk 737.26 crore.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    M. M. Rahman Co.

    Chartered Accountants

    M/S J K Enterprise
    Statement of Financial Position
    As at 31 December 2018

    Notes Amount in Taka Amount in Taka


    Assets 2018 2017
    Non-Current Assets 15,029,662 15,103,180
    Property, Plant and Equipment 4,661,662 4,735,180
    Annex 1
    Land 10,368,000 10,368,000

    Current Assets 98,003,898 78,454,417


    Inventories 2 22,258,440 18,548,700
    Advance, Deposit & Prepayments 1 1,800,000 2,000,000
    Trade Receivable 66,619,599 51,245,845
    Cash and Cash Equivalents 3 7,325,859 6,659,872

    Total Assets 113,033,560 93,557,597

    Shareholders Equity and Liabilities

    Equity 107,332,741 82,015,999


    Capital 20,000,000 20,000,000
    Retained Earnings 4 87,332,741 62,015,999

    Loan From Bank 4,519,169 7,531,948


    Bank Loan 4,519,169 7,531,948

    Current Liabilities 1,181,650 4,009,650


    Bills Payable 764,610 2,548,700
    Other Liabilities 374,550 1,248,500
    Liabilities for Expenses 42,490 212,450

    Total Equity and Liabilities 113,033,560 93,557,597

    - -

    Proprietor

    Dhaka
    Date Chartered Accountants
    M. M. Rahman Co.
    Chartered Accountants

    M/S J K Enterprise
    Statement of Comprehensive Income
    For the year ended 31 December, 2018

    Notes Amount in Taka Amount in Taka


    PARTICULARS 2018 2017

    Turnover 737,258,336 624,795,200


    Cost of Sales 5 659,508,054 584,351,423
    Gross Profit 77,750,282 40,443,777

    Operating Expenses 1,774,338 1,656,520


    Administrative Expenses 6 1,774,338 1,656,520

    Operating profit/ ( Loss) 75,975,945 38,787,257


    Other Income - -

    Profit Before Interest & Tax 75,975,945 38,787,257


    Financial expenses 94,688 78,907

    Profit Before tax 75,881,256 38,708,350


    Taxation 1,560,625 1,248,500

    Net Profit 74,320,631 37,459,850

    Proprietor

    Dhaka
    Date Chartered Accountants
    M. M. Rahman Co.
    Chartered Accountants

    Continuation Sheet MAKC

    M/S J K Enterprise
    Statement of Cash flow
    For the year ended 31 December, 2018

    Amount in Taka
    2018

    1. CASH FLOW FROM OPERATING ACTIVITIES:


    Net Profit 74,320,631
    Add - Depreciation 73,518
    (Increase)/ Decrease in Ending Inventories (3,709,740)
    (Increase)/ Decrease in Advances, deposits & Prepayments 200,000
    (Increase)/ Decrease in Accounts Receivable (15,373,754)
    Increase/ (Decrease) in Liabilities for expense (169,960)
    Increase/ (Decrease) in Payables (1,784,090)
    Increase/ (Decrease) in Other Liabilities (873,950)
    Prior Year Adjustment
    Increase/ (Decrease) in Audit Fees -

    Net Cash Generated from Operating Activities 52,682,656

    2. CASH FLOW FROM INVESTING ACTIVITIES:


    Acquisition of Fixed Assets
    Other Investments

    Net Cash In/ Outflow from Investing Activities -

    3. CASH FLOW FROM FINANCIAL ACTIVITIES:


    Short Term Loan (3,012,779)
    Drawings/ New Capital (49,003,889)
    Interest Expense

    Net Cash In/ Outflow from Financial Activities (52,016,669)

    Net Cash Increase/ (Decrease) During the Year 665,987

    Opening Cash & Bank Balance 6,659,872


    Closing Cash & Bank Balance 7,325,859
    M. M. Rahman Co.
    Chartered Accountants

    Amount in Taka Amount in Taka


    2018 2017

    Note - 1 Advance, Deposit & Prepayments

    Advance 1,800,000 2,000,000


    Advance Salary to Staff -

    1,800,000 2,000,000

    Note - 2 Inventories/ Closing Stock


    ClosingStock 22,258,440 18,548,700
    Others - -

    22,258,440 18,548,700

    Note - 3 Cash & Cash Equivalent

    Cash in Hand 4,395,516 3,995,923


    Cash at Bank 2,930,344 2,663,949

    7,325,859 6,659,872

    Note - 4 Retained Earnings

    As Per last Year Balance 62,015,999 24,556,149


    Add - Current Year's Net Profit 74,320,631 37,459,850
    Less - Drawings 49,003,889
    87,332,741 62,015,999

    Note - 5 Cost of Goods Sold

    Opening Stock 18,548,700 6,828,200


    Purchase 656,159,919 588,229,840
    674,708,619 595,058,040
    Less - Closing Stock 22,258,440 18,548,700
    652,450,179 576,509,340
    Factory Overhead
    Carriage Inwards 4,606,970 5,118,855
    Others 2,450,905 2,723,228
    7,057,875 7,842,083
    Cost of Sales 659,508,054 584,351,423

    Note 6 Administrative Expense


    Salary 364,176 337,200
    Bonus 61,534 56,976
    Printing 10,610 9,824
    Travelling & Conveyance 35,667 33,025
    Telephone 28,822 26,687
    Rent 388,800 360,000
    Entertainment 164,728 152,526
    Business Promotion 255,150 236,250
    Electricity 35,432 32,807
    Paper 3,433 3,179
    Misc. Expenses 312,011 288,899
    Registration 13,457 12,460
    Audit fees 10,800 10,000
    Legal fees 16,200 15,000
    Depreciation 73,518 81,687

    1,774,338 1,656,520
    M. M. Rahman Co.
    Chartered Accountants

    Annex 1
    M/S J K Enterprise
    Schedule of Fixed Assets as at 31 December, 2018

    SL Particulars Addition Depreciation WDV

    Balance as on Addition Balance as on Rate Charged Balance as on Balance as on


    01.01.18 31.12.2018 31.12.2018 31.12.2018
    1 Equipments 180,697 180,697 10% 18,069.70 18,070 162,627
    2 Furniture & Fixture 554,483 554,483 10% 55,448 55,448 499,035
    3 Sunday Assets 4,000,000 4,000,000 0% - - 4,000,000
    Total Taka 4,735,180 - 4,735,180 73,518 73,518 4,661,662

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