T1a

T1b
TOTAL
T2
TOTAL
T3
TOTAL
T4
TOTAL
T5
TOTAL
T6
TOTAL
T7
TOTAL

CASH
50000
75000
125000
-10000
115000

YELLOW COMPANY
ASSET+EXPENSES
DEBTORS OFF.EQUIPMENT STOCK

10000
10000

125000

50000 75000
50000
50000

50000 75000

10000

50000
50000 175000
-50000
0 185000

50000

50000 75000

10000

0 185000

50000 75000

10000

0 135000

50000
-50000
0

10000

0 110000

115000
115000
60000
175000
-50000
125000
-25000
100000

LIABILITIES+CAPITAL+INCOME
CREDITORS
CAPITAL LOAN
50000
50000
75000
125000
50000 75000

10000
60000
60000
-60000
0

50000 75000
25000
75000 75000

Journal
RETAINED EARNING
50000
125000
125000
175000
10000
10000

185000

10000

185000

10000

135000

10000

110000

INCOME STATEMENT
SALES
LESS:COGS
Opening Stock
Add purchases
Less Closing stock
Profit for May

60000
Nil
50000
50000
Nil

50000
10000

BALANCE SHEET AS ON 31 MAY

Sources of Funds
Owner's Equity
50000
Capital
10000
Profit for May
Loan
Mrs. Ramaswamy

Aplication of Funds
Fixed Assets
Furniture
Current Assets
Cash

60000
50000
110000

10000

100000

Date
Sl. No.
1-May T1a
T1b
3-May T2
10-May T3
15-May T4
22-May T5
23-May T6
31-May T7

Accounts
Cash
Capital
Cash
Mrs. R's Loan
Furniture
Cash
Purchases
Creditors
Debtors
Sales
Cash
Debtors
Creditors
Cash
Mrs. R's Loan
Cash

LF

(Debit) + (Credit) 50000

50000
75000
75000
10000
10000
50000
50000
60000
60000
60000
60000
50000
50000
25000
25000

1-May Capital
Mrs. R's Loan
22-May Debtors

Cash
50000
3-May Furniture
75000
60000
23-May Creditors
31-May Mrs. R's Loan
31-May Bal c/d

1-Jun Bal b/d

185000
100000

10000

50000
25000
100000
185000

10-May

1-Jun

Capital A/C
1-May Cash

Creditors

Purchases
50000

bal b/d

50000
50000

31-May Bal c/d

50000

50000
50000

Trial balance of Yellow Company on 31st may

Cash
Capital
Mrs. Ramaswamy's loan
Furniture
Purchases
Sales

+
100000

50000
50000

10000
50000
160000

60000
160000