INCOME STATEMENT AND BALANCE SHEET

GOBE JAM, GEME 323

ASSIGNMENT
TATEMENT FOR THE YEAR FOR ORIGINAL 1 COMPANY TRIAL BALANCE AS OF
DECEMBE

Financial Statements in Pula

Revenue
Sales 17000

Net Sales 17000

Expenses
Rent 15000
Clearing expenses 2000
Heating and lighting 6000
Water 500
Electricity 4000
Wi-Fi 1500
Purchases 12700
Salaries and wages 40000
Insurance 600
Advertising 5000
Total expenses
Total Expenses 87300

Net Operating Income

(87300)

Other Income
Gain (Loss) on Sale of Assets 17000
Interest Income 0
Total Other Income 17000

Net Income (Loss) (70300)

BALANCE SHEET OF 31 DECEMBER 2020

Particular Note No Current Year

ASSESTS
I. Non -current Assets
25000
a. Office Furniture 2500

b. Stationary
20000
c. Fitting
d. Scents 10000
e. Pickup truck 45000
f. Equipment 7000
109500
II. Current Assets 12000
a. Cash

b. Bank 84200
96200

Total Assets 205700

LIABILITIES
I). Current liabilities
Creditor (Kumor hardware) 2000
Creditor (Beautiful organics) 2000
Scents (Debtors) 10000
14000
Non-Current Liability -
Total liability - 14000
Net assets 191700

Capital
Cash introduced. 1000000
Add net loss for the year. (70300)
Less drawing 1000
Total Capital 928700