Eskimo Limited Trial Balance at 31 december, 2008

----( Rupees )---Debit Credit 145,000 25,000 20,000 240,000 580,000 12,500 23,000 300,000 9,500 250,000 25,000 25,000 50,000 250,000 8,000 12,800 120,000 225,000 200,000 100,000 40,000 1,800 1,331,300 1,331,300

Retained eanings-1/1/2008 Non-current liabilities: Loan from AB bank Non-distributable reserves-1/1/2008 Share capital Sales Interest income Rent Income Cost of sales Interest in bank overdraft Other expenses Administration expenses Distribution expenses Investments Trade accounts receivable Bank (overdraft) Current tax payable Inventories Trade accounts payable Land Equipment-cost Equipment-accumulated depreciation Taxation

Eskimo Limited Statement of financial position As at 31 december, 2008

Equity and Liabilities
Share capital Issued, subscribed & paid-up capital 120,000 ordinary shares of Rs 2/- each Non-distributable reserves Retained earnings Profit for the year Non-Current Liabilities Loan from AB bank Current Liabilities Trade accounts payable Current tax payable Bank overdraft Dividend payable Note 2008

Property and Assets

Non-current assets Land Equipment Less: accumulated depreciation

Note

2008

1 2 3

240,000 20,000 130,000 4,200 25,000 225,000 12,800 8,000 15,000 680,000

200,000 100,000 (40,000) 60,000

4 5 6 7

Current Assets Investments Trade account receivables Inventories

9 10 11

50,000 250,000 120,000

680,000

Eskimo Limited Statement of comprehensive income for the year ended 31 december, 2008
Note Sales Cost of sales Gross profit Other income Administrative expenses Distribution expenses Financial expenses Other expenses Net profit Tax Net profit after tax 12 13 14 15 16 17 18 19 ( Rupees ) 580,000 (300,000) 280,000 35,500 315,500 (25,000) (25,000) (9,500) (250,000) 6,000 (1,800) 4,200

Eskimo limited Statement of changes in equity for the year ended 31 december, 2008
Share capital Balance as at 1 jan 2008 shares issued during the year Dividend payable Total 40,000 200,000 240,000 non-distributable reserves 20,000 20,000 Retained earnings 145,000 (15,000) 130,000 Total 205,000 200,000 (15,000) 390,000

Eskimo Limited Notes to the accounts for the year ended 31 december, 2008
( Rupees ) 1 Issued, subscribed & paid-up capital 20,000 shares of Rs 2 each as at beginning 100,000 shares of Rs 2 each issued during the year 120,000 shares as at end of period Non-distributable reserves Retained earnings Retained earnings as at beginning Dividend payable Retained earnings as at end of period Loan from AB bank Trade accounts payable Current tax payable Bank overdraft Non-current assets ----- Separate sheet annexed ----Investments Trade accounts receivable Inventories Sales Cost of sales Other Income Interest income Rent income 50,000 250,000 120,000 580,000 300,000

40,000 200,000 240,000 20,000

2 3

145,000 (15,000) 130,000 25,000 225,000 12,800 8,000

4 5 6 7 8

9 10 11 12 13 14

12,500 23,000 35,500 25,000 25,000

15 16 17

Administrative expenses Distribution expenses Financial expenses Interest on bank overdraft Other expenses Taxation Tax for the year

9,500 250,000

18 19

1,800

Eskimo Limited Fixed assets schedule

Particulars Land Equipment Total Cost As at 1 jan Additions/ As at 31 2008 Disposal dec 2008 200,000 100,000 300,000 200,000 100,000 300,000 Rate 0% 15% Accumulated depreciation W.D.V as As at 1 jan for the As at 31 at 31 dec 2008 2008 year dec 2008 25,000 25,000 15,000 15,000 40,000 40,000 200,000 60,000 260,000