Sheet1Assets.=Liabilities.+Shareholder Equity.+Retained
earningS.NOParticularsCash BankMachineInventoryComputerF.AAccured
interestARLoanOther C.LAPShreholder equityCapital
introduced200,000..........200,0001Machinery
Purchased-20,000.20,000............2Goods
Purchased-24000..24000...........3Sold goods to
om20000..-9500.........105004Puchase goods
..14000......14000....5Introduce new
capital16000..........16000..6commision in
advance2000........2000.....7Paid to
creditor-10500.........-14000..35008Drawings-10000..........-10000..9Rent
paid-10000............-1000010Payment for
stationary-400............-40011Sales
good2000..-12000...14000.....400012Expenses
outstnading........2000...-200013Accured
interest.....15,000......1500014Depreciation.-2000.........-200015aWages
paid-4000...........-400015bWages
outstanding........4000...-400016Computer
purchased-15000...30000....15000....17deposited to
bank-9000090000.............18Goods
Purchased-8000.8000........19Loan
50000.......50000.....20Incorporation
charges-5000....5000......A1(i)Repay of
loan-50000.......-50000.....A1(ii)Interest
paid-2000.............-2000A2Incorporation
charges.....-5000........-5000TOTAL49,10082,00018,00024,50030,000015,00014,00008,00015,0000206,0003,600Balance
Sheet Of MR. Xas on 31st march 2014
ParticularsAmount(Rs)Assets:-Current
assetsCash49100Bank82000Account
recievable14000Inventory24500Accured interest15000Non current
assetsMachine18000Computer30000Total Assets232600
Liablilities:-Current liabilitiesAccount payable15000Other
C.L8000Owners EquityCapital stock206000Retained Earning3600Total
Liabilities232600
Income Statement of Mr. Xas on 31st march
2014ParticularsAmount(Rs)Revenue:Profit on sales14500Profir from
creitor 3500Accured interest15000Total Revenue33000
Expenses :-Rent10000Stationary400Outstanding
expense2000Depreiciation2000Wages4000Wages outstanding4000Interest
paid2000Incorporation cost5000Total Expenses29400Net Income3600
