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  • Samiyah and Association Income Statement: Trail Balance

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    sana sarwar
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    The document appears to be a trial balance for Samiyah and Association that lists various accounts and their debit and credit balances. It shows total debits and credits that balance at Rs. 2252000. The trial balance is followed by income statements that show revenues of Rs. 365000 from sales and costs such as purchases, wages, rent, etc. resulting in a net loss of Rs. 477000. Finally, a balance sheet lists assets such as plant/machinery, buildings, furniture and current assets, along with liabilities including capital and net loss.

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    accounting

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    The document appears to be a trial balance for Samiyah and Association that lists various accounts and their debit and credit balances. It shows total debits and credits that balance at Rs. 2252000. The trial balance is followed by income statements that show revenues of Rs. 365000 from sales and costs such as purchases, wages, rent, etc. resulting in a net loss of Rs. 477000. Finally, a balance sheet lists assets such as plant/machinery, buildings, furniture and current assets, along with liabilities including capital and net loss.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    9 views3 pages

    Samiyah and Association Income Statement: Trail Balance

    Uploaded by

    sana sarwar
    The document appears to be a trial balance for Samiyah and Association that lists various accounts and their debit and credit balances. It shows total debits and credits that balance at Rs. 2252000. The trial balance is followed by income statements that show revenues of Rs. 365000 from sales and costs such as purchases, wages, rent, etc. resulting in a net loss of Rs. 477000. Finally, a balance sheet lists assets such as plant/machinery, buildings, furniture and current assets, along with liabilities including capital and net loss.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 3

    SR no Account Name L.

    F Debit Credit
    1 Cash Account 764050
    2 Capital Account 1062950
    3 Trading Account 10000
    4 Opening stock Account 50000
    5 Plant & machinery Account 500000
    6 Purchases Account 260000
    7 Building Account 600000
    8 Office stationary Account 10000
    9 Furniture Account 80000
    10 Bank Account 20000
    11 Rent Account 32000
    12 Legal expenses Account 10000
    13 Carriage inward Account 10000
    14 Salaries Account 310000
    15 Wages Account 90000
    16 Electricity expenses Account 15000
    17 Carriage outward Account 80000
    18 Sale Account 365000
    19 Bills expenses Account 10000
    20 Misalliance expenses Account 5000
    21 Receivable account 130000
    22 Heater Account 10000
    23 Repair expense Account 20000
    24 Closing stock Account 60000
    Total balance

    2252000 2252000

    Trail Balance

    Samiyah and Association


    Income statement
    For the Year Ended 31 December

    Detail Rs Detail Rs

    Opening stock 50000 Sales 365000


    Purchases 260000 Closing stock 60000
    Carriages inward 10000
    Wages 90000

    Gross profit 15000


    425000 425000

    Gross profit 15000


    Office stationary 10000 Net loss 477000
    Rent 32000
    Legal expenses 10000
    Salaries 310000
    Electricity expenses 15000
    Carriage outward 80000
    Bills expenses 10000
    Miscellanies expenses 5000
    Repair expenses 20000

    492000 492000

    Balance sheet
    Asset Amoun Liability Amount
    t
    Fixed asset long term liability
    Plant and machinery 500000 capital 1062950
    Building 600000 net loss 477000
    Furniture 800000

    Current asset 764050


    Cash 20000
    Bank 130000
    Account receivable 60000
    Closing stock 10000
    Heater

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