Balance sheet

May-1st Particulars
Liabilities Amount Assets Amount Initial Cash
Sundry Creditors Cash $ 200.00 Cash withdrawn
Wages Payable Bank $ 7,005.00
Customer advance Accounts Receivable
Inventory $ 13,250.00
Prepaid expenses $ 2,320.00
Total Current Liabilities $ - Total Current Assets $ 22,775.00

Payable on Equipment $ 10,300.00 Equipment+Office furniture $ 14,525.00

Total Liabilities $ 10,300.00 Accumulated depreciation $ -

Total Non-Current Assets $ 14,525.00

Capital $ 27,000.00
Operating Profit
Total Capital $ 27,000.00
Total Liabilities and Capital $ 37,300.00 Total Assets $ 37,300.00

Reco $ -

Balance sheet
30-Jun
Liabilities Amount Assets Amount
Sundry Creditors $ 2,304.00 Cash $ 5,808.00
Wages Payable $ 232.00 Bank $ 7,005.00
Customer advance $ 125.00 Accounts Receivable $ 199.00
Inventory $ 10,018.00 1804
Prepaid expenses $ 750.00 75
Total Current Liabilities $ 2,661.00 Total Current Assets $ 23,780.00 425
2304
Payable on Equipment $ 10,300.00 Equipment $ 14,525.00
Total Liabilities $ 12,961.00 Accumulated depreciation $ -456.67

Total Non-Current Assets $ 14,068.33

Capital $ 20,171.00
Operating Profit $ 4,716.33
Total Capital $ 24,887.33
Total Liabilities and Capital $ 37,848.33 Total Assets $ 37,848.33

Reco $ -
 Cash Ledger Bank Ledger
Amount Particulars Amount Particulars Amount
20000 Guaranteed Deposit 20000 Deposit retuned back 2755
200 Additional bonds 7000

Cash Balance 200

20200 20200
9755
Bank Ledger
Particulars Amount
Office furniture 1650
Fire & Casuality Ins 900
Cash withdrawn 200

Cash Balance 7005

9755
 Income Statement- Octane
From 01 May to 30 June
Revenues from sales $ 69,788.00

Other income $ 375.00

Total Revenue $ 70,163.00
Sales cost - Inventory consumed $ 49,730.00
Gross Profit $ 20,433.00
Operating expenses
Rent Expense $ 3,513.00
Utility expenses $ 870.00 Oustanding
Salaries $ 9,682.00 Provision for Bad debts
Advertising expense $ 690.00

miscellaneous expenses $ 355.00 Provision for Bad debts

Depreciation expense $ 456.67 Debtors Provision
Insurance expenses $ 150.00
Total Expense $ 15,716.67
Operating Profit $ 4,716.33
4716
 199
3.98

Dr Cr

3.98
199
 Julio Trevino (Octane Service Station)
Trial Balance
June 30
Account Dr Cr
Cash 5,808.00 Refer Cash Ledger
Bank 7,005.00
Accounts Receivable 199.00 143+56
Merchandise Inventory 10,018.00 Given
Prepaid expenses- Insurance 750.00 Refer Note:1
Assets 14,525.00 Refer Note:2
Acc. Depreciation 456.67 Refer Note:3
Sundry Creditors 2,304.00 Refer Note:4
Payable on Equipment 10,300.00 Refer Note-6
Wages Payable 232.00 Given
Capital 20,171.00 Refer Capital Ledger
sales 69,589.00 Given
Other income 375.00 Calculated
Unearned revenue 125.00 Calculated
Outanding debtors balance(56+143) 199.00 Calculated
Rent Expense 3,513.00 Refer Note-5
Utility expenses 870.00 Calculated
Inventory consumed 49,730.00 Given -
Salaries 9,682.00 Calculated

Advertising expense 690.00 Given

miscellaneous expenses 355.00 Given
Depreciation expense 456.67 Note:3
Insurance expenses 150.00 Note:1
Total 103,751.67 103,751.67
-
 -7005
Cash Ledger Inventor
Particulars Amount Particulars Amount Particulars
Initial Cash 20000 Guaranteed Deposit 20000 Initial Inventory
Sales 69510 Purchases 44694 Purchase
Rent 500 Rent 2018 Credit Purchase
Cash withdrawn 200 Salaries 9450
Utilities 445
Advertising 690
Misc. 355
Withdrawal 6750
Cash Balance 5808
90210 90210 Note-1
Prepaid Expense
Insurance Paid
Prepaid

Deposit Ledger
Particulars Amount Particulars Amount Note-2
Initial Deposit 20000 Inventory 13250 Assets
Rental fees 1420 Equipment
Down paymment on Eq 2575 Furniture
Given back 2755 Total

20000 20000 Note-3

Depreciation

Capital Ledger
Particulars Amount Particulars Amount
Withdrawn 6750 Cash 20000
Self usage 79 Increase in capital 7000
Balance 20171

27000 27000

Bank Ledger
Particulars Amount Particulars Amount
Deposit retuned back 2755 Office furniture 1650
Additional bonds 7000 Fire & Casuality Ins 900
Cash withdrawn 200

Bank Balance 7005 5608

9755 9755
 Inventory Ledger
Amount Particulars Amount
13250
44694 Closing Balance Given 10018
1804

Inventory Consumed 49730

59748 59748

Note-4
Sundry Creditors
900 Rent75 75
750 Vendors 1804
Utility 425
Total Payable 2304

Note-5
12875 Rent Expense
1650 Rent 2018 25325 1013 1250 2263
14525 Payable 75 245
Initial Rent 1420 170

456.6666667 3513
Note-6
Payable on Equipment 12875
Paid-Down payment 2575
Payable 10300