Octane Service Station

Balance Sheet
1st May and 30th June

Asset 01 May 2021 30 June 2021 Liabilities

Current Asset Current Liabilities
Cash Accounts Payable
Cash-in-hand 200 200 To Octane
Checkin account 7005 12613 Rent
Inventory 13250 10018 Utility
Wages
Accounts Receivable Pre-paid rent to parking
Pre-Paid Rent 1420 0
Receivable 199 Total Current Liabilities
Provision for Bad Debt 0
Non-Current Liabilities
Deposit to Octane 0 0 Loan for equipment

Total Current Assets 21875 23030 Total Non-Current Liabilities

Non-Current Assets Owners Equity

Prepaid Insurance Paid In Capital
Land Retained Earning
Furniture (10 years)
Asset Purchase Value 1650 1650 Total Equity
Accumulated Depriciation -27.5
Equipment (5 year)
Asset Purchase Value 12875 9875
Accumulated Depriciation -429.2
Insurance (1year)
Asset Purchase Value 900 900
Accumulated Depriciation -150
Merchandise TOTAL

Total Non Current Assets 15425 11818

TOTAL 37300 34848

 Octane Service Station
Income Statement
1st May to 30th June

01 May 2021 30 June 2021

Sales
Cash Sales 69709
10300 12104 Rental Parking 375
75 Total Sales 70084
425
232 COGS 52291
125 Gross Margin 17793

10300 12961 Opertaing Expenses

Salaries 9682
Rent 3513
Depriciation 606.7
Cash Sales
0 0 Advertisement 690
Utilities 870
Rental Parking
27000 20171 Evaporation Loss 360
1716 Bad Debt
Miscellaneous 355
27000 21887
Total Operating Expenses 16077
Operating Income 1716

Interests
Dividends
Income before Taxes 1716

37300 34848 Taxes

Net Income 1716

Particulars 31-Dec 1-Jan 2-Jan
Assets
Cash 200 400 500
Inventory 500 500 600
Bicycle (net of depreciation) 300 300 300
Accounts receivable

Total assets 1000 1200 1400

Liabiltiies & OE
Capital (incl. Ret earnings) 1000 1200 1400
Accounts payable

Total liab. & OE 1000 1200 1400

Revenues
Sales revenue 500 500

Total revenues 500 500

Expenses
COGS 300 300
Depreciation
Loss on sale of bicycle

Total expenses 300 300

Net Profit (@) 200 200

∆Cash: Closing cash - Opening cash ($) 200 100

Diff between ∆cash & Net profit ($ - @) 0 -100
Reasons for difference No difference Inc. in inventory
 3-Jan 4-Jan 5-Jan 6-Jan 7-Jan 8-Jan 9-Jan

1500 1300 1700 2050 2350 2550 2750

0 0 0 0 400
300 280 0
400 0

1800

200

1000 400 350 800 600 200

1000 400 350 800 600

600 200 200 500 400

20
80

600 200 200 500 420 80

400 200 150 300 180 120

1000 -200 400 350 300 200 200

600 -400 400 200 0 20 80
Inventory loss Credit sakes Credit realised account payable Dep Loss on Cycle
 Chemalite, Inc.
Balance Sheet
1st May and 30th June

Asset 31 December 2004 31 December 2005

Current Asset
Cash
Cash-in-hand 113000 9490
Inventory - RM 55000 75450
Inventory - Goods 104680

Accounts Receivable

Receivable 69500 139530

Provision for Bad Debt

Deposit to Octane

Total Current Assets 237500 329150

Non-Current Assets
Prepaid Insurance 65000
Land 250000
Patent (10 years) 100000 75000
Asset Purchase Value 125000 125000
Accumulated Depriciation 25000 50000
Equipment (5 year) 201875.0 1064000.0
Asset Purchase Value 212500 1120000
Accumulated Depriciation 10625.0 56000.0
Insurance (1year)
Asset Purchase Value
Accumulated Depriciation
Merchandise

Total Non Current Assets 301875 1454000

TOTAL 539375 1783150

*Olymic Sales
 Chemalite, Inc.
Balance Sheet
t May and 30th June

Liabilities 31 December 2004 31 December 2005

Current Liabilities
Accounts Payable
Tax 9950
Bank 200000
Deffered Taxes 26730
Notes 425000
Dividends 12000

Total Current Liabilities

Non-Current Liabilities
Debt 510000

Total Non-Current Liabilities 1183680

Owners Equity
Paid In Capital 500000 500000
Retained Earning 28475 125470
Treasury Stock -26000
Total Equity 528475 599470

TOTAL 528475 1783150

 Chemalite, Inc.
Income Statement
1st May to 30th June

Gain 24250
Cash Sales 685000
Credit Sales 69500
Total Sales 754500 1910500

COGS 195000 452700

Gross Margin 559500 1457800

Opertaing Expenses
Salaries 80000 660000
Rent 25000
Depriciation 35625.0 86625.0
R&D 63250
Prototype 23750
Utilities 350000 82000
Advertise 22500 70000
Interest 750 58750
Insurance 32500
Miscellaneous 7500 195750

Total Operating Expenses 520125

Operating Income 39375 183925

Interests
Dividends
Income before Taxes 39375

Taxes 10900 64930

Net Income 28475 118995

 Chemalite, Inc. Chemalite, Inc.
Cash flow Statement (Direct) Cash flow Statement (Indirect)
1st May to 30th June 1st May to 30th June

Sales Sales
Cash Sales Cash Sales
Rental Parking Rental Parking
Total Sales Total Sales

COGS COGS
Gross Margin Gross Margin

Opertaing Expenses Opertaing Expenses

Salaries Salaries
Rent Rent
Depriciation Depriciation
Cash Sales Cash Sales
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Utilities Utilities
Rental Parking Rental Parking
Evaporation Loss Evaporation Loss
Bad Debt Bad Debt
Miscellaneous Miscellaneous

Total Operating Expenses Total Operating Expenses

Operating Income Operating Income

Interests Interests
Dividends Dividends
Income before Taxes Income before Taxes

Taxes Taxes

Net Income Net Income

hemalite, Inc.
Statement (Indirect)
May to 30th June