Main Account-1 Sub-Account Individual Accounts Main Group

Assets Non-current Assets Cash Current Assets

Assets Current Assets Capital-Owais Equity
Liabilities Non-current Liabilities Bank-(CB-Special) Current Assets
Liabilities Current Liabilities Inventory Current Assets
Equity Equity Payable-Mr-Zubair Current Liabilities
Expenses Expenses Sales Revenue
Revenue Revenue Cost of Goods Sold Expenses
Receivable-Mr-Kazin Current Assets
Electicity Expenses
Salary Expenses
Tax (Expenses) Expenses
Tax (Payable) Current Liabilities
Shop Non-current Assets
Statement
Financial Position
Financial Position
Financial Position
Financial Position
Financial Position
Profit or Loss
Profit or Loss
Financial Position
Profit or Loss
Profit or Loss
Profit or Loss
Financial Position
Financial Position
Date Description Account Debit Credit
1/1/2023 Investing by Owais Cash 1,000,000
1/1/2023 Investing by Owais Capital-Owais 1,000,000
1/2/2023 Deposit to Bank Bank-(CB-Special) 500,000
1/2/2023 Deposit to Bank Cash 500,000
1/3/2023 Purchase Inventory Inventory 600,000
1/3/2023 Purchase Inventory Payable-Mr-Zubair 600,000
1/4/2023 Purchase Inventory Inventory 200,000
1/4/2023 Purchase Inventory Bank-(CB-Special) 200,000
1/5/2023 Sales of inventory Cash 400,000
1/5/2023 Sales of inventory Sales 400,000
1/5/2023 Adjust Inventory against COGS Cost of Goods Sold 300,000
1/5/2023 Adjust Inventory against COGS Inventory 300,000
1/6/2023 Sales of inventory Receivable-Mr-Kazin 300,000
1/6/2023 Sales of inventory Sales 300,000
1/6/2023 Adjust Inventory against COGS Cost of Goods Sold 150,000
1/6/2023 Adjust Inventory against COGS Inventory 150,000
1/18/2023 Paid for Electricity Electicity 15,000
1/18/2023 Paid for Electricity Bank-(CB-Special) 15,000
1/31/2023 Paid for Salary Salary 100,000
1/31/2023 Paid for Salary Cash 100,000
2/2/2023 Paid to Mr-Zubair Payable-Mr-Zubair 100,000
2/2/2023 Paid to Mr-Zubair Cash 100,000
2/5/2023 Received from Mr-Kazin Bank-(CB-Special) 150,000
2/5/2023 Received from Mr-Kazin Receivable-Mr-Kazin 150,000
2/10/2023 Buy Shop Shop 500,000
2/10/2023 Buy Shop Cash 500,000
3/31/2023 Tax Provision Tax (Expenses) 20,250
3/31/2023 Tax Provision Tax (Payable) 20,250
Comments/Remark 1 Establish a business by Owais in investing $ 1 million in ca
Capital
Cash
Accountant 2 Deposit into Bank 500000 by Accountant
Cash
Bank
3 Purchase Inventory of $600000 on Credit from Mr-Zubair
Inventory
Payable-Mr-Zubair
4 Purchase Inventory of $200000 by paying through bank f
Inventory
Bank
5 Sold inventory for $400000 by cash
COGS-300000
Cash Inventory
Sales COGS Expenses
6 Sold inventory for $300000 by Credit to Mr-Kazin
COGS-150000
Receivable-Mr-Kazin Inventory
Sales COGS Expenses

7 Electricity bill 15000 by bank

Expense
8 Salary 100000 with cash
Expense

9 Payment to Mr-Zubair 100000 Cash

10 Received form Kazin 150000 by bank

n investing $ 1 million in cash on 1-Jan-2023

on Credit from Mr-Zubair

by paying through bank from Mr-Ahma

Credit to Mr-Kazin
Inventory Current Assets
Data
Date Account Sum of Debit Sum of Credit
1/3/2023 Inventory 600,000
1/4/2023 Inventory 200,000
1/5/2023 Inventory 300,000
1/6/2023 Inventory 150,000
Total Result 800,000 450,000
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Trial Balance
Data

Account Sum of Debit Sum of Credit

Bank-(CB-Special) 650,000 215,000

Capital-Owais 1,000,000

Cash 1,400,000 1,200,000

Cost of Goods Sold 450,000

Electicity 15,000

Inventory 800,000 450,000

Payable-Mr-Zubair 100,000 600,000

Receivable-Mr-Kazin 300,000 150,000

Salary 100,000
Sales 700,000
Tax (Expenses) 20,250
Tax (Payable) 20,250
Shop 500,000
Total Result 4,335,250 4,335,250
Group Statement

Current Assets Financial Position

Equity Financial Position

Current Assets Financial Position

Expenses Profit or Loss

Expenses Profit or Loss

Current Assets Financial Position

Current Liabilities Financial Position

Current Assets Financial Position

Expenses Profit or Loss

Revenue Profit or Loss

Expenses Profit or Loss
Current Liabilities Financial Position
Non-current Assets Financial Position
ABC Company
Statement of Profit & Lost
for the period (1-1-23 to 31-3-23)

Sales 700,000
Cost of Goods Sold - 450,000
Gross Profit 250,000
Operating Expenses
Electicity 15,000
Salary 100,000 - 115,000
Operating Profit 135,000 20,250
Tax (Expenses) - 20,250
Net Profit 114,750
ABC Company
Statement of Financial Position Accounting Eq Asset = Capital + Liabilities
as at 31-3-2023

Asset Equity and Liabilities

NCA NCL
Shop 500000 Loan 0
NCA Total 500000 CL
Payable-Mr-Zubair 500000
CA Tax (Payable) 20250
Bank-(CB-Special) 435000 Total Liabilities
Cash 200000 Equity
Inventory 350000 Capital-Owais 1000000
Receivable-Mr-Kazin 150000 Retained Earning 114750
CA Total 1135000 Total Equity
Total Asset 1635000 Total Equity and Liabilities
 520250

1114750
1635000 0