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PARTICULARS BUILDING LAND CASH INVENTORY

1-Oct-05 OWNER EQUITY 91200


1-Nov-05 BANK LOAN 40000
1-Nov-05 PROPERTY 72000 -72000
1-Nov-05 SITE PREPARATION 7000
31-Dec-05 LOAN FOR SPORTS BOAT 40000
PURCHASE 153000
GROSS MARGIN 112000 -153000
1-Jan-06 TRADE IN SALES 54800
COMMISION CHARGES -680
31-Jan-06 CONSTRUCTION PAYMENT 40000 -40000
28-Feb-06 CONSTRUCTION PAYMENT 40000 -40000
31-Mar-06 CONSTRUCTION PAYMENT 60000 -60000
MATERIAL COST 2400 -2400
30-Mar-06
LOAN REPAYMENT(1ST
INSTALLMENT) -42000
31-Mar-06 ARCHITECT FEE 2600 -2600
31-Mar-06 FRED'S SALARY -10000
TOTAL 145000 79000 68320 0
BALANCE SHEET SIZE
ASSETS
MARION BOATS INC
ACCOUNTING EQUATION ,31st MARCH,2006
A/C RECEIVABLE
TRADE-In
ALLOWANCE STONES
Owner
Equity(Bill&
Fred) A/C PAYABLE
BANK
LOAN
91200
40000
2000
153000
13600 58000
-58000
-40000
13600 0 2000 91200 153000 0
307920 307920
LIABILITIES + EQUITY ASSETS
MARION BOATS INC
ACCOUNTING EQUATION ,31st MARCH,2006
RETAINED
EARNINGS
SITE
PREPARATION
PAYABLE
SPORTS
BOAT
LOAN
9000
40000
30600
-3200
-680
-2000
-10000
14720 9000 40000
LIABILITIES + EQUITY
MARION BOATS INC
ACCOUNTING EQUATION ,31st MARCH,2006
68320
224000
13600 Account Payable for site preparation
2000
307920 Total assets Total Liabilities and owner's equity
Fred's Equity
Bill Equity
Total Owners Equity
Retained Earnings
Total Liabilities
Owner's equity
Property
Amount Receivable
Stones
Owed suppliers amount
Marion Boats
Balance Sheet
For the Period Ended March 31, 2006
Assets Liabilities and owner's equity
Liabilities
Cash Sports Boat Loan
40000
153000
9000
202000
71600
19600
91200
14720
307920
Marion Boats
Balance Sheet
For the Period Ended March 31, 2006
INCOME
Sales of new boats 112000
Credit sale 13600
Tade in Allowance 58000
Total Income 183600
Expenses
Account Payable 153000
Salary 10000
Fred compensation for boat 680
Sales of trade-in boats 3200
Bank Interest 2000
Total Expenses 168880
Net Income 14720
Marion Boats
Income Statement
For the Period October 1,2005- March 31, 2006
Sales of new boats 112000
Owners Equity 91200
Sales of trade-in boats 54800
Borrowing from Sports Boat 40000
Borrowing from Bank 40000
Total 338000
Architect fee 2600
Material cost 2400
Fred salary 10000
Repayment of bank loan 42000
commision charge 680
Buying Property 72000
Construction Payments 140000
Total 269680
Net cash 68320
Marion Boats
Cash Flow Statement
For the Period Ended March 31, 2006
CASH IN FLOW
CASH OUT FLOW
FRED BILL TOTAL
SHARES 1800 500 2300
Owners
share
value 11520 3200 14720
Owners Equity