ORIGINAL - 04 JANUARY

ASSETS
Cash
Inventory

1
ASSETS
Cash
Inventory

2
ASSETS
Cash
Inventory

3
ASSETS
Cash
Inventory
Trade Receivable

4
ASSETS
Cash
Inventory
Trade Receivable
Prepaid Insurance

5
ASSETS
Cash
Inventory
Trade Receivable
Prepaid Insurance
Land

Boook Value
25936

NO ENTRY

8
ASSETS
Cash
Inventory
Trade Receivable
Prepaid Insurance
Land

9
ASSETS
Cash
Inventory
Trade Receivable
Prepaid Insurance
Land

10. The Identical plot is sold at the appreciation of $

our plot. Hence, No Entry. Yet, if Music Mart Inc. wa
for Fair Value, it may consider

11
ASSETS
Cash
Inventory
Trade Receivable
Prepaid Insurance
Land

12
No Entry since the transaction in Stock of the Compan

13
ASSETS
Cash
Inventory
Trade Receivable
Prepaid Insurance
Land
ASSETS LIABILITIES AND OWNERS' EQUITY
33250 Notes Payable 12500
4500 Paid in Capital 25000
Retained Earning 250

37750 37750

ASSETS LIABILITIES AND OWNERS' EQUITY

33250 Notes Payable 12500
9500 Paid in Capital 25000
Retained Earning 250
Trade Payable 5000

42750 42750

ASSETS LIABILITIES AND OWNERS' EQUITY

35550 Notes Payable 12500
8000 Paid in Capital 25000
Retained Earning 1050
Trade Payable 5000

43550 43550

ASSETS LIABILITIES AND OWNERS' EQUITY

35550 Notes Payable 12500
6300 Paid in Capital 25000
2620 Retained Earning 1970
Trade Payable 5000

44470 44470

ASSETS LIABILITIES AND OWNERS' EQUITY

34326 Notes Payable 12500
6300 Paid in Capital 25000 FIRE INSURANCE
 2620 Retained Earning 1936 (FOR 3 YEARS)
1190 Trade Payable 5000 EXPENSE FOR THE
PREPAID EXPENSE
44436 44436

ASSETS LIABILITIES AND OWNERS' EQUITY

28326 Notes Payable 12500
6300 Paid in Capital 25000
2620 Retained Earning 1936
1190 Trade Payable 5000
24000 Land Mortgage 18000

62436 62436

UNREALIZED
Offered Price Goodwill
33000 7064

ASSETS LIABILITIES AND OWNERS' EQUITY

30326 Notes Payable 12500
6300 Paid in Capital 25000
2620 Retained Earning 936
1190 Trade Payable 5000
12000 Land Mortgage 9000

52436 52436

ASSETS LIABILITIES AND OWNERS' EQUITY

30326 Notes Payable 12500
 5550 Paid in Capital 25000
2620 Retained Earning 186
1190 Trade Payable 5000
12000 Land Mortgage 9000

51686 51686

plot is sold at the appreciation of $ 2000. However, there is no transaction for

o Entry. Yet, if Music Mart Inc. wants to value its Non-Current Asset (i.e. land)
for Fair Value, it may consider the Land at $ 14000.

ASSETS LIABILITIES AND OWNERS' EQUITY

24326 Notes Payable 6500
5550 Paid in Capital 25000
2620 Retained Earning 186
1190 Trade Payable 5000
12000 Land Mortgage 9000

45686 45686

transaction in Stock of the Company does not affect the Company, but Owners.

ASSETS LIABILITIES AND OWNERS' EQUITY

25636 Notes Payable 6500
4700 Paid in Capital 25000
2620 Retained Earning 646
1190 Trade Payable 5000
12000 Land Mortgage 9000

46146 46146
FIRE INSURANCE 1224 EXPENSES FOR OBTAINING INSURANCE SERVICE, I.E. REIMBURSEMENT OF L
(FOR 3 YEARS) Incomes/Profits increase retained earnings
EXPENSE FOR THE 34 Expenses/Losses reduce Retained Earnings
PREPAID EXPENSE 1190
EIMBURSEMENT OF LOSS IN CASE OF FIRE
 ASSETS
Particulars
Accounts receivable
Equipment
Building
Cash
Land
Inventory
Notes Receivable
Other Non Current Assets
Prepaid insurance
Supplies on hand

1. The company made good profits in the Month of June. Ms

earned 38% p.a. returns on her Investment
2. The Cash has increased substantially and so have Notes
available, then it might be a good idea to settle some of thes
Cash is unproductive but such a discount w

It was decided to settle dues from the owner against some of th

Retained Earnings (Opening)
Add: Profits for the year
Less: Owners' Receivable settled
Retained Earnings (Closing)

Capital Stock + Retained Earnings = $619446. So Shareholder

 ASSETS LIABILITIES AND EQUITY
Jun-01 Jun-30 Particulars
21798 26505 Accounts Payable
7956 30732 Accrued wages payable
429000 427050 Bank notes payable
34983 66660 Capital Stock
89700 89700 Retained Earnings
29835 26520 Other noncurrent liabilities
11700 0 Taxes payable
4857 5265
3150 2826
5559 6630

638538 681888

Per Month
ade good profits in the Month of June. Ms. Maynard 3.21%
d 38% p.a. returns on her Investment
ncreased substantially and so have Notes and Accounts Payable. If there is discount
ght be a good idea to settle some of these notes and accounts, using available cash.
sh is unproductive but such a discount would be additional income.

e dues from the owner against some of the profits made during the month. Hence, Retained Earnings increased by
221511
19635
11700
229446

ned Earnings = $619446. So Shareholders' stock is worth that amount,as per Book Value. However, given her exc
and low loans, the market value of the stock might be higher.
 LIABILITIES AND EQUITY
Jun-01 Jun-30
8517 21315
1974 2202
8385 29250
390000 390000
221511 229446 7935 11700
2451 2451
5700 7224

638538 681888

Per Year
38.53%

nce, Retained Earnings increased by only $7935

Book Value. However, given her excellent profitability

higher.
 ASSETS LIABILITIES AND OWNERS' EQUITY
Cash 48000 Paid in Capital

48000

ASSETS LIABILITIES AND OWNERS' EQUITY

Cash 13000 Paid in Capital
Equipment 53200 Bank Borrowings
Food Beverages 2800

69000

2nd November, 2009

ASSETS LIABILITIES AND OWNERS' EQUITY
Cash(Checking Account) 10172 Paid in Capital
Equipment 53200 Bank Borrowings
Enventory(Food Beverages) 2800
Licence Exp. 1428
Cash Register 1400
69000

30th March
ASSETS LIABILITIES AND OWNERS' EQUITY
Cash(Checking Account) 1030 Paid in Capital
Cash Register Amout payable to Instuct
Equipment 50755 Bank Borrowings
Food Beverages Suppliers Amount to be p
Licence Exp.
Clothing 750
Cash Register Exp
52535

Total Assets 52535

Total Liabilities 21353
31182
AND OWNERS' EQUITY
48000

48000

AND OWNERS' EQUITY

48000
21000

69000

AND OWNERS' EQUITY

48000
21000

69000

AND OWNERS' EQUITY

31182
870
18900
1583

52535