AL MASHREQ TRADING AND CONTRACTING CO.

SUMMARY TRIAL BALANCE AS ON 31/3/2011

( From 1st April-2010 to 31 March-2011 )

General Ledger Accounts Descriptions DR Opening Transactions Closing

(CR ) Balances 2010-2011 Balances

FIXED ASSETS :

Land and Building A 1,593,470.00 - 1,593,470.00

Machinery and Equipment A 1,160,280.00 27,950.00 1,188,230.00
Furniture and Fixtures A 97,036.00 6,257.00 103,293.00
Motors Vehicles A 425,080.00 - 425,080.00
Computers/ Software A 65,379.00 3,275.00 68,654.00
others A 52,670.00 - 52,670.00

ACCOUNTS RECEIVABLES/ PRE-PAYMENTS :

Trade Receivables A 4,316,814.00 1,126,780.00 5,443,594.00

Other Receivables A 188,995.00 12,789.00 201,784.00
Employees' Balance A 26,852.00 12,579.00 39,431.00
Pre-paid Insurances A 33,300.00 17,596.00 50,896.00
Other Pre-payments A 9,989.00 13,750.00 23,739.00

INVENTORIES :

Machineries and Equipment A 7,657,479.00 2,175,600.00 9,833,079.00

Replacement Parts / Equipment A 1,052,358.00 276,500.00 1,328,858.00
Other Products/ Consumables A 338,368.00 15,789.00 354,157.00
-
CASH AND BANK BALANCES :

Cash in hand A 38,577.00 175,230.00 213,807.00

Balances in Banks A 1,603,745.00 436,200.00 2,039,945.00

Total Assets 18,660,392.00 4,300,295.00 22,960,687.00

ACCUMULATED DEPRECIATION:

On Land and Building L (913,415.00) (119,510.00) (1,032,925.00)

On Machinery and Equipment L (524,287.00) (118,823.00) (643,110.00)
On Furniture and Fixtures L (59,164.00) (10,329.00) (69,493.00)
On Motors Vehicles L (276,000.00) (106,270.00) (382,270.00)
On Computers/ Software L (47,881.00) (5,149.00) (53,030.00)
On others L (22,670.00) (5,267.00) (27,937.00)
ACCOUNTS PAYABLES & CREDIT BALANCES:

Trade Accounts payables L (1,292,899.00) 32,579.00 (1,260,320.00)

Other Payables L (369,371.00) 152,793.00 (216,578.00)
Employees' End- of Service Benefits L (414,871.00) (87,546.00) (502,417.00)
Accrued Expenses L (275,418.00) (51,793.00) (327,211.00)

BANK LOANS AND OVERDRAFTS L (4,036,539.00) (447,221.00) (4,483,760.00)

CAPITAL AND EQUITY:

Paid up Capital L (5,000,000.00) (5,000,000.00)

Compulsory Reserve L (1,410,126.00) (1,410,126.00)
Retained Earnings L (4,017,751.00) (4,017,751.00)

Total Liabilities (18,660,392.00) (766,536.00) (19,426,928.00)

SALES :

Machineries & Equipment I (27,426,170.00) (27,426,170.00)

Replacement Parts & Equipment I (7,826,545.00) (7,826,545.00)
Other Products and Consumables I (2,087,465.00) (2,087,465.00)
Sales Discount E 748,956.00 748,956.00
(36,591,224.00) (36,591,224.00)

COST OF SALE:
Machineries & Equipment C 21,460,978.00 21,460,978.00
Replacement Parts & Equipment C 6,357,502.00 6,357,502.00
Other Products and Consumables C 1,550,151.00 1,550,151.00
Purchase Discount I (588,234.00) (588,234.00)
28,780,397.00 28,780,397.00

EXPENSES:
Salaries & Wages E 1,428,703.00 1,428,703.00
House Allowances E 249,068.00 249,068.00
Transport Allowances E 85,852.00 85,852.00
Air Tickets E 61,469.00 61,469.00
Leave Pay E 236,034.00 236,034.00
Overtime Pay E 28,043.00 28,043.00
Other Allowances E 54,891.00 54,891.00
Employees End of Service Benefits E 94,844.00 94,844.00
Printing & Stationery E 38,514.00 38,514.00
Electricity & Water E 88,999.00 88,999.00
Fuel and Power E 28,514.00 28,514.00
Repair / Maintenance & Renovations E 95,340.00 95,340.00
Communication Expenses E 42,734.00 42,734.00
Advertisement & Publicity E 152,078.00 152,078.00
Products Promotion E 56,052.00 56,052.00
Travelling Expenses & Airfare E 29,079.00 29,079.00
Entertainment E 17,044.00 17,044.00
Bank Charges E 27,356.00 27,356.00
Bank Interest E 669,996.00 669,996.00
Depreciation E 365,348.00 754,775.00
Other expenses E 37,683.00 37,683.00
4,277,068.00
NET MARGIN FOR THE YEAR R (3,533,759.00)

NOTES:

1. 25% of the current Net Margin to be transferred to Compulsory Reserve.

2. The balance of the Net Margin to be transferred to Retained Earnings,
3. A= ASSETS, L= LIABILITIES, C= COST OF GOODS SOLD, E= EXPENSES & R= RETAINED
EARNINGS, I= INCOME.

4. Purchase Discount to be deducted from COST OF SALES and Sales Discount

from SALES.
22,960,687.00
(19,426,928.00)
3,533,759.00
(3,533,759.00)

(7,810,827.00)
T EXP. 4,277,068.00

NM (3,533,759.00)