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    Abdul Wahid
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    Accounting Equation as on 31st july bank receipment 54600 75600 125000 25100 -25100 b)Profit and loss of july 31st Sales 12500+7250) 12500+ 19750 19750 Less COS (-8000-4500-500)-13000 Gross profit Less expenses Rent 1000 Advertising 1500 Gas 3000 depreciation 2250 loss for july p&l balance b / f P&L balance c/f Working note de

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    Accounting Equation as on 31st july bank receipment 54600 75600 125000 25100 -25100 b)Profit and loss of july 31st Sales 12500+7250) 12500+ 19750 19750 Less COS (-8000-4500-500)-13000 Gross profit Less expenses Rent 1000 Advertising 1500 Gas 3000 depreciation 2250 loss for july p&l balance b / f P&L balance c/f Working note de

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    94 views4 pages

    Managerial Finance

    Uploaded by

    Abdul Wahid
    Accounting Equation as on 31st july bank receipment 54600 75600 125000 25100 -25100 b)Profit and loss of july 31st Sales 12500+7250) 12500+ 19750 19750 Less COS (-8000-4500-500)-13000 Gross profit Less expenses Rent 1000 Advertising 1500 Gas 3000 depreciation 2250 loss for july p&l balance b / f P&L balance c/f Working note de

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    of 4

    page no 10th f handbook

    30/01/11
    a) Accounting Equation as on 31st july

    Bank Receivable Epuipment RM FG Prepayment Total


    B/F 54600 75600 125000 22000 14050 0 291250
    1 25100 -25100
    2-a -11000 11000
    2-b -3000 3000
    3 -21250
    4-a -8000
    4-b 12500
    5 10000
    6 5500
    7 -3000
    8-a 7250
    8-b -4500
    9-a -6000 6000
    9-b -1000 1000
    10 -1500
    57200 63000 135000 10500 22550 0 288250

    Adjustments:
    i) Gas
    ii) Obsolete stock -500
    iii)Depreciation -2250
    iv)Rent 2000

    57200 63000 132750 10000 22550 2000 287500

    b) Profit and loss of july 31st


    Sales 12500+7250) 19750
    Less COS (-8000-4500-500) -13000

    Gross profit 6750

    Less expenses
    Rent 1000
    Advertising 1500
    Gas 3000
    Depreciation 2250 -7750
    loss for july -1000
    p&l balance b/f 93750
    P&l balance c/f 92750
    Working note
    Depreciation-11 month depreciation is already given or made,only one month is needed to calculate. So 20 x13500

    Balance sheet as at 31st july


    Fixed Assets
    Equipment 132750

    Current Assets
    Stock: RM 10000
    Stock :FG 22550
    Receivables 63000
    Prepayments 2000
    Bank 57200
    154750
    Less Current Liability
    A/C Payable 41750
    Accruals 3000 44750
    44750
    Working Capital 110000
    242750

    Financed by
    Share capital:
    Ordinary shares 150000

    Reserves
    P&L 92750
    242750
    Share Cap P&L Ac Receivable Accrual Total
    150000 93750 47500 0 291250

    -21250
    -8000
    12500
    10000
    5500
    -3000
    7250
    -4500

    -1500
    150000 96500 41750 0 0

    -3000 3000 0
    -500
    -2250
    2000

    150000 92750 41750 3000 287500


    ded to calculate. So 20 x135000x1/12= 2250

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