INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDING 31ST DECEMBER, 2007

Code
Details
Amount
Code
Details
611010000 Office Rent
500.000 311000000 ERP Sales
611020000 Salary - John
3,200.000 312000000 POS - License Sales
611030000 Commission - Sunil
717.000 313000000 Commission Earned
611040000 Commission - Mario
500.000
611050000 Commission - Jay
750.000
611090000 Printing Expenses
20.000
611100000 Stationery & Consumables
254.000
611190000 Refreshment expenses
7.000
611220000 Public Relation expenses
350.000
611280000 Sundry expenses
75.000
611290000 Transportation
10.000
621100000 Furniture
147.000
Net Profit for the year ended
31-12-2007
11,261.000
Jackson's share
5630.500
Farook's share
5630.500
17,791.000

EMBER, 2007
Amount
8,100.000
8,550.000
1,141.000

17,791.000

BALANCE SHEET AS AT 31ST DECEMBER 2007

Liabilities
Assets
Code
Details
Amount
Code
Details
Capital - Jackson
121110000 Cash In hand
243100000 Opening Bal
6364.000
122110000 Receivable - Atyab
Less: Drawings
5045.000
122110010 Receivable - Aqar
Add: Share of net
profit 31-12-07
5630.500
6,949.500 122110040 Receivable - Little India
Capital - Jackson
243100000 Opening Bal
6364.000
Less: Drawings
5045.000
Add: Share of net
profit 31-12-07
5630.500
6,949.500
13,899.000

Amount
923.000
7,000.000
5,576.000
400.000

13,899.000