Lone Pine Café (A)

Liabilities 1/11 30/3 Assets

Capital: Café equipts

Mr. A 16000 F&B inventories
Mrs. A 16000 Op. Licence/prepaid
Mrs. L 16000 48000 37146 Cash register
Bank
Bank loan 21000 -2100 18900 Receivables - Ski
Payables 1583 Cash on hand
69000

Loss = -10854

Case B - Income statement for 2/11/yy to 30/3/yy+1

Sales 43480 Duality cash

870 44350 receivables

Expenses:
Salaries exp - partners 23150 cash
Wages 5480 cash
Interest exp 540 cash
F&B consumed 11969 inventories
Tele & Elect exp 3270 cash
Misc exp 255 cash
Rent exp 7500 cash
Depreciation exp 2445 asset
Op. Lic write off 5/12 595 55204 asset

Profit/loss -10854

If it had continued as a going concern, presentation in closing b/s would be as under:

Capital 48000
Retained earnings -10854
37146
 1/11 30/3 31/3

53200 2382.308 50818

2800 2430
1428 7/12 833
1400 62.69231 1337 0
10172 1030
870
311 0
69000 57629