SHIMELS ,NESTANET AND FRIENDS

FURNITURE
Financial Statements
For the Fiscal year Ended as Sene 30,
2008 E.C

Submitted to: - Harari Regional State

Domestic Tax

Revenue Authority.

SHIMELS ,NESTANET AND FRIENDS

FURNITURE
BALANCE SHEET
For the fiscal year ended as at sene 30,2008
E.C
Assets
Cash on
hand--------------------------------------------------------30,000.00
Fixed
asset-----------------------------------------------------------11,500.00
Total
assets---------------------------------------------------------41,500.00

Liabilities and Capital

Liabilities

Tax payable (VAT)----------------------------------------4,548.33

Capital
Capital-------------------------------------------32,234.4
Net profit----------------------------------------4,717.27
Total capital---------------------------------------------36951.67
Total Liabilities and
Capital------------------------------------------41,500.00

SHIMELS ,NESTANET AND FRIENDS

FURNITURE
Income statements
For the fiscal year ended as at sene
30,2008 E.C
Sales--------------------------------------------------------------------------37,104.64
Direct cost of sales
Cost of raw materials---------------------------------3137.37
Direct cost of labor------------------------------------27,000
Total cost of
sales----------------------------------------------------------30,137.37

Gross
profit------------------------------------------------------------------6,967.27
Operating expenses
Mobile card------------------------------------------250.00
Miscellaneous expenses--------------------------2000.00
Total operating
expenses-----------------------------------------------2,250.00
Income before income
tax----------------------------------------------4,717.27
Income tax to be paid
(exempt)---------------------------------------0.00(NIL)
Net profit
----------------------------------------------------------------- 4,717.27

// 2008
k
.

4000.
00

(us
ed)

4000.0
0

2500.
00
3000.
00
2000.
00

2500.0
0
3000.0
0
2000.0
0
11,500
.00

(us
ed)
(us
ed)
(us
ed)

N.B k

// 2008
(sales summary)

. ..(VA

T)

15%

..
28/06/ 0000 2782.60 417.39 108.26
08
01

4000.00

600.00

30/07/ 0000
08
02
6/10/0 0000 22741.5 3411.22
8
03
3

10/10/ 0000 7580.51 1137.08

08
04

309.
14

200.87

400.
87

97.83

3313
.40

47.61

1089
.49

5565.6 454.57 511 4402

9
1.12 .89

N.B :- 2008
5111.12 710.01 4402.89

// 2008

.

1
2
3
4
5
6
6

07/05/
08
15/06/
08
2/07/0
8
12/07/
08
15/07/
08
29/07/
08
5/08/0
8

00234
00385
00398
00402
0335174
1000034
683108
00412

. ..(VAT

)
15%

291.3
43.70
335.00
0
721.7
108.26
829.99
3
686.7
103.04
789.99
5
652.1
97.83
749.17
7
90.00
90.00
308.2
3
678.2
6

308.23

101.74

780.00

3137 454.57 3591.

.37
94

 // 2008

.
1
2
3

(
)

/

27000.00
810.57
2000.00
30060.57