ASSIGNMENT 4

Ishani Sathish (PGP/25/331)

1. T- Accounts

Cash
1 165000 2700 2
11 93800 14400 3
    5000 4
    15000 4a
    100000 5a
    6700 6
    1000 7
    500 8
    6000 9
    62000 12
    45500 bal

Tape Inventory
5 100000 18021 15
10 18750 100729 Bal

Equipments
6 6700 6700 Bal

Accounts Payable
4a 15000 15000 4
5a 100000 100000 5
Bal 18750 18750 10

Common Stock
Bal 165000 165000 1

Tape Amortization
15 18021 18021 Bal
B
 Salaries and Wages
12 62000 62000 Bal
E

Advertising Expenses
17 3000 3000 Bal
H

Land
3 43000 43000 Bal

Accumulated Depreciation
Bal 1170 1170 13

Accrued Interest Expense

Bal 2900 2900 16

Retained Earnings
      J

Depreciation Expenses
13 1170 1170 Bal
C

Legal fees
2 2700 2700 Bal
F

Office Supplies Expenses

8 500 500 Bal
I

Accounts Receivable
11 2200 2200 Bal

Prepaid Advertising
9 6000 3000 17
    3000 Bal
 Buildings and Renovations
3 5000 25000 Bal
4 20000    

Software
7 1000 100 14
    900 Bal

Mortgage Payable
Bal 33600 33600 3

Sales Revenue
Bal 96000 96000 11
A

Software Amortization
14 100 100 Bal
D

Interest Expenses
16 2900 2900 Bal
G

2. Trial Balance
Trial Balance
Sr.
No Particulars Dr Cr
1 Cash 45500  
2 Accounts Receivable 2200  
3 Prepaid Advertising 3000  
4 Building and Renovations 25000  
5 Tape Inventory 100729  
6 Land 43000  
7 Mortgage Payable   33600
8 Software 900  
9 Equipments 6700  
10 Accumulated Depreciation   1170
11 Accounts Payable   18750
 12 Accrued Interest Expense   2900
13 Sales Revenue   96000
14 Common Stock   165000
15 Retained Earnings    
16 Software Amortization 100  
17 Interest Expense 2900  
18 Tape Amortization 18021  
19 Depreciation Expense 1170  
20 Salaries and Wages 62000  
21 Legal Fees 2700  
22 Advertising Expenses 3000  
23 Office Supplies Expenses 500  
  Total 317420 317420

3. Income Statement
  Income Statement  
Sr. No Revenue Expense Sr. No
A 96000     18021 B
      1170 C
      100 D
      62000 E
      2700 F
      2900 G
      3000 H
      500 I
        5609 J - Retained Earning

4. Balance Sheet
Balance Sheet
Asset Liability + Equity
Sr. Sr.
No Account   No Account  
1 Cash 45500 14 Common Stock 165000
5 Tape Inventory 100729 15 Retained Earnings 5609
9 Equipments 6700 12 Accrued Interest Expense 2900
2 Accounts Receivable 2200 7 Mortgage Payable 33600
6 Land 43000 10 Accumulated Depreciation 1170
3 Prepaid Advertising 3000 11 Accounts Payable 18750
4 Buildings and Renovations 25000      
8 Software 900      
           
  Closing Bal. 227029   Closing Bal. 227029