General Journal

Date 1 2 3 4 Description Cash at Bank Capital A/C Computer purcahse Account Payable Office supplies Cash Account Office Building Cash Account Loan Cash from Sales Sales A/C Rent A/C Checking A/C Owner's Withdraw Capital Bank A/C Dr (Rs.) 5,000 2,500 2,500 550 550 100,000 25,000 75,000 1,200 1,200 950 950 2,000 2,000 Cr (Rs.) 5,000

5 6 7

Balance Sheet Assets Building Computer Equipment Office Supplies Cash and Bank Total Assets Equity & Liabilaties Owners Equity Retained Earnings Total Owners Equity Liabitlities Accounts Payables Loan Total Liabilities Total Equity & Liabilities 2,500 75,000 77,500 107,750 30,000 250 30,250 100,000 2,500 550 4,700 107,750

Asad Chemicals Trial Balance as at 30 June, 2010

Perticulars Dr Amount Rs. Cr Amount Rs.

Assets
Non-current Assets Freehold Land & Building at Cost Motor Vehicle at Cost Prov. for depriciation on Motor Vehicle Plant & Machinery at Cost Prov. For depriciation on Plant & Machinery Investment at Cost Current Assets Inventory Account Reciveables Cash in hand Equity & Liabilaties Owners Equity 6000 ordinary shares of Rs. 10 each Share premium 200 8% prefrence share of Rs. 100 each Retained Income General Reserves Liabilaties Non-Current Liabilaties 10% Debentures Current Liabilaties Creditors Bank Overdraft Accrude Expences Divident Proposed 8% Prefrence Shares Ordinary Shares Total 270,560 32,000 37,200 9,600 84,960 24,160 14,800

74,400 25,520 1,680

60,000 14,240 20,000 32,800 20,000

34,000

18,560 27,200 2,400

1,600 6,000 270,560

Asad Chemicals Balance Sheet as at 30 June, 2010

Assets Non-current Assets Freehold Land and Building at Cost Motor Vehicle at Cost Accumulated Depriciation Motor Vehicle Plant & Machinery at Cost Accumulated Depriciation Plant & Machinery Investment at Cost Total Non Current Assets Current Assets Inventory Account Reciveables Cash in hand Total Current Assets Total Assets Equity and Liabilaties Owners Equity 6000 ordinary shares of Rs. 10 each Share premium 200 8% prefrence share of Rs. 100 each Retained Income on 1st July, 2009 For The Year General Reserves Total Owners Equity Liabilaties Non-Current Liabilaties 10% Debentures Current Liabilaties Creditors Bank Overdraft Accrude Expences Dividend Proposed 8% prefrence shares

32,000 37,200 (9,600) 84,960 (24,160) 27,600 60,800 14,800 135,200

74,400 25,520 1,680 101,600 236,800

60,000 14,240 20,000 28,000 4,800 20,000 147,040

34,000

18,560 27,200 2,400 1,600

Ordinary shares Total Liabilaties Total Equity and Liabilaties

6,000 89,760 236,800

Asad Chemicals Income Statement For The Year 30 June, 2010

Income Less: Expences Depriciation charge Motor Vehicle Plant and Machinery Retained Income For the year 38,560

9,600 24,160 4,800

Particulars Freehold land and building cost Bank overhead Cash in hand Inventory Creditors 10% debentures Dividend proposed --- 8% preference shares Dividend proposed --- Ordinary shares Accrued expenses General Reserves (on 1st July 2008, Rs. 8000) Share Capital 2008% preference shares of Rupees 100 each 6000 ordinary shares of Rs. 10 each Investment at cost Motor vehicle at cost Provision for depreciation on motor vehicle on 30th June, 2009 Plant and machinery at cost
Provision for depreciation on plant and machine on 30 June, 2009
th

Rupees 32,000 27,200 1680 74,400 18,560 34,000 1600 6000 2400 20,000 20,000 60,000 14,800 37,200 9600 84,960 24,160 32,800 14,240 25,000

Retained income (on 1 July, 2009 Rs. 28000) Share premium Account receivable

st