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    Income Statement (28.9-28.13)

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    Abdul Hadi Sheikh
    The document contains student information for Abdul Hadi including his registration number, course details, and assignment to prepare an income statement and balance sheet. It also includes sample income statements and balance sheets for a small business and J. Wright, with financial details such as sales, expenses, assets, liabilities, and equity for the years ended February 20X7 and March 2009.

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    Income Statement (28.9-28.13)

    Uploaded by

    Abdul Hadi Sheikh
    80 views19 pages
    The document contains student information for Abdul Hadi including his registration number, course details, and assignment to prepare an income statement and balance sheet. It also includes sample income statements and balance sheets for a small business and J. Wright, with financial details such as sales, expenses, assets, liabilities, and equity for the years ended February 20X7 and March 2009.

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    The document contains student information for Abdul Hadi including his registration number, course details, and assignment to prepare an income statement and balance sheet. It also includes sample income statements and balance sheets for a small business and J. Wright, with financial details such as sales, expenses, assets, liabilities, and equity for the years ended February 20X7 and March 2009.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    80 views19 pages

    Income Statement (28.9-28.13)

    Uploaded by

    Abdul Hadi Sheikh
    The document contains student information for Abdul Hadi including his registration number, course details, and assignment to prepare an income statement and balance sheet. It also includes sample income statements and balance sheets for a small business and J. Wright, with financial details such as sales, expenses, assets, liabilities, and equity for the years ended February 20X7 and March 2009.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 19

    NAME: ABDUL HADI

    REGISTRATION NO: 13002

    ASSIGNMENT: INCOME STATEMENT & BALANCE SHE

    COURSE: ACCOUNTING FOR MANAGERS (0120

    SEMISTER: SUMMER

    PROGRAM: MBA (WEEKEND)


    NT & BALANCE SHEET

    MANAGERS (012006001)
    Small Bussiness
    Statement Of Comprehensive Incom
    for the year ended 28 February 20X

    Sales
    Less: Sales Return / Return Inwards
    Less: Sales Discount/ Discount Allowed
    Net Sales
    Less: Cost of Goods Sold
    Opening Stock
    Add: Purchases
    Add: Carriage inward/ transportation/freight charges/ fare in
    Less: Purchase discount/ Discount Recevied
    Less: Purchases Return/Return Outwards
    Net Purchase
    Good available for use/sale
    Less: Closing Stock
    Cost of Good Sold
    Gross Profit
    Add: Other Income
    Purchase Discount/ Discount Received
    Interest Received
    Total Other Income
    Less: Operating Expenses
    Rent Expense
    Bussiness rates
    Sundry Expense
    Depreciation Expense

    Total Operating Expenses


    Net Profit
    Small Bussiness
    Statement Of Comprehensive Income
    for the year ended 28 February 20X7.
    Rs Rs Rs
    Sales 40,900
    Less: Sales Return / Return Inwards 0
    Less: Sales Discount/ Discount Allowed 0
    Net Sales 40,900
    Less: Cost of Goods Sold
    Opening Stock 8200
    Add: Purchases 26,000
    Add: Carriage inward/ transportation/freight charges/ fare in 0
    Less: Purchase discount/ Discount Recevied 0
    Less: Purchases Return/Return Outwards 0
    Net Purchase 26,000
    Good available for use/sale 34,200
    Less: Closing Stock (9,100)
    Cost of Good Sold (25,100)
    Gross Profit 15,800
    Add: Other Income
    Purchase Discount/ Discount Received 0
    Interest Received 0
    Total Other Income 0
    Less: Operating Expenses
    Rent Expense (4,800)
    Bussiness rates (1,300)
    Sundry Expense (340)
    Depreciation Expense (1,800)

    Total Operating Expenses (8,240)


    Net Profit 7,560
    Smal
    Statement o
    As at 28th
    Assets
    Non-Current Asset
    Tangible
    Motor Cycle
    Less: Allowance for Depreciation
    Net Book Value(NBV)

    Total Tangible Assets

    Intangible
    Goodwill
    Royalities
    Patent
    Investment
    Total Intangible Assets
    Total non current assets

    Current Assets
    Closing Stock
    Debtors
    Bank
    Bussiness Rate

    Total Current assets


    Net Assets/ Capital Employed
    Small Bussiness
    Statement of financial position
    As at 28th February 20x7

    9,000
    (3,000)
    6,000

    6,000

    0
    0
    0
    0
    0
    6,000

    9,100
    1,160
    1,500
    300

    12,060
    18,060
    Bussiness
    financial position
    February 20x7
    Liabilities
    Current Liabilities
    Creditors 2,100
    Interest Payable 0
    Accured 400
    Short term loan 0
    Total Current liability 2,500

    Non current liabilities


    debenture 0
    long term loan 0
    Total Non-Current liability 0

    Owners' equity
    Capital at start 19,700
    Add: Additional capital 0
    Add: Net profit 7,560
    Less: Drawing (11,700)
    Capital at end 15,560
    Net Assets/ Capital Employed 18,060
    J Wright
    Statement Of Comprehens
    for the year ended 31 Ma

    Sales
    Less: Sales Return / Return Inwards
    Less: Sales Discount/ Discount Allowed
    Net Sales
    Less: Cost of Goods Sold
    Opening Stock
    Add: Purchases
    Add: Carriage inward/ transportation/freight charges/ fare in
    Less: Purchase discount/ Discount Recevied
    Less: Purchases Return/Return Outwards
    Net Purchase
    Good available for use/sale
    Less: Closing Stock
    Cost of Good Sold
    Gross Profit
    Add: Other Income
    Purchase Discount/ Discount Received
    Interest Received
    Total Other Income
    Less: Operating Expenses

    Total Operating Expenses


    Net Profit
    J Wright
    Statement Of Comprehensive Income
    for the year ended 31 March 20X9
    Rs Rs Rs
    Sales 127,245
    Less: Sales Return / Return Inwards (3,486)
    Less: Sales Discount/ Discount Allowed (2,480)
    Net Sales 121,279
    Less: Cost of Goods Sold
    Opening Stock 7940
    Add: Purchases 61,420
    Add: Carriage inward/ transportation/freight charges/ fare in 0
    Less: Purchase discount/ Discount Recevied 0
    Less: Purchases Return/Return Outwards (1,356)
    Net Purchase 60,064
    Good available for use/sale 68,004
    Less: Closing Stock (6,805)
    Cost of Good Sold (61,199)
    Gross Profit 60,080
    Add: Other Income
    Purchase Discount/ Discount Received 62
    Interest Received 0
    Total Other Income 62
    Less: Operating Expenses
    Carriage outwards (3,210)
    Rent and insurance (8870-600) (8,270)
    Salaries & wages Expense (39200+3500) (42,700)
    Office expense (319+16) (335)
    Provision for doubtful debts (110)
    Depreciation (Fixture & fittings) (190)
    Depreciation (Van) (1,400)
    Total Operating Expenses (56,215)
    Net Profit 3,927
    J
    Statement o
    As at 31
    Assets
    Non-Current Asset
    Tangible
    Fixtures & Fittings
    Less: Allowance for Depreciation
    Net Book Value(NBV)
    Van
    Less: Allowance for Depreciation
    Net Book Value(NBV)

    Total Tangible Assets

    Intangible
    Goodwill
    Royalities
    Patent
    Investment
    Total Intangible Assets
    Total non current assets

    Current Assets
    Closing Stock
    Debtors
    Less: Provision for doubtful debt
    Cash
    Prepaid rent
    Total Current assets
    Net Assets/ Capital Employed
    J Wright
    Statement of financial position
    As at 31st March 2009

    1,900
    (190)
    1,710
    5,600
    (1,400)
    4,200

    5,910

    0
    0
    0
    0
    0
    5,910

    6,805
    12,418
    (740)
    140
    600
    19,223
    25,133
    Wright
    financial position
    t March 2009
    Liabilities
    Current Liabilities
    Creditors 11,400
    Interest Payable 0
    Accured(3500+16) 3516
    Bank Overdraft 2490
    Total Current liability 17,406

    Non current liabilities


    debenture 0
    long term loan 0
    Total Non-Current liability 0

    Owners' equity
    Capital at start 25,200
    Add: Additional capital 0
    Add: Net profit 3,927
    Less: Drawing (21,400)
    Capital at end 7,727
    Net Assets/ Capital Employed 25,133

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