Mr.

Shamsul Arefin Rahman has started a business of Tea leaf trading and Tea serving named
“Marifa Tea House” on January 01, 2023. The following events occurred during the month of
January 2023.

Date Event
Jan 01 Mr. Shamsul Arefin Invested Tk. 10,00,000 cash in his business.
Jan 01 Appointed two sales persons with monthly salary of 20,000 each.
Jan 01 Rented a shop and storage with monthly rent of Tk. 20,000
Jan 01 He also brought his personal computer worth 50,000 to the business.
Jan 01 Tk. 1,00,000 of furniture was purchased from Wood land Furnitures and paid Tk.
50,000.
Jan 01 Tk. 50,000 of Equipment was purchased from Startech on Cash.
Jan 01 Rented the extra space of the storage for a yearly rent of 120,000 payable after
every six months.
Jan 01 Invested Tk. 200,000 in a Bank as fixed deposit at 12% interest payable at the
end of every year.
Jan 05 Tea was purchased from Kamal Tea House on credit tk. 2,00,000.
Jan 06 Tea was purchased from Sumon Tea House of Tk. 2,00,000 and paid Tk. 1,00,000
cash.
Jan 07 Sold goods to Niloy Tea Stall worth tk. 100,000 on account.
Jan 08 Sold goods worth tk. 150,000 on cash.
Jan 10 Goods purchased on cash tk. 150,000.
Jan 12 Goods sold on account to Palash Store worth tk. 200,000
Jan 14 Purchased supplies for office use for tk. 10,000 on cash.
Jan 14 Provided tea catering service to an office conference and received tk. 150,000
cash
Jan 15 Paid the owner of the shop tk. 120,000 as advance rent for six months
Jan 18 Fire Insurance premium is paid for twelve months tk. 60,000
Jan 18 Received Tk. 300,000 as an advance payment for catering service to be provided
later.
Jan 19 Goods sold on account to Hasin Traders totaling tk. 120,000
Jan 20 Purchased basic office supplies for tk. 20,000 cash.
Jan 21 Purchased more office supplies for tk. 15,000 on account.
Jan 22 Received utility bills in the amount of tk 3,000, to be paid next month.
Jan 23 Collected cash tk. 70,000 from Hasin Traders for previous credit sales.
Jan 24 Borrowed tk. 200,000 from Jamuna Bank Ltd. repayable after 5 years at an
interest of 12% per year and purchased tea with all the money.
 Jan 25 Paid the monthly salaries of the two employees, totalling tk. 40,000
Jan 26 Paid tk. 250,000 previous credit purchase.
Jan 30 Mr. Shamsul Arefin has withdrew tk. 50,000 cash from the business.

Using the following list of accounts Prepare-

(1) Tabular Analysis and
(2) Journal
(3) Ledger
(4) Trial Balance

Cash Accounts Payable Equity Sales Revenue

Accounts Receivable Bank Loan Drawings Service Revenue
Equipment
Supplies Purchase
Furniture Salary Expense
Utility Expense
Prepaid Insurance
Advance Rent

Assignment 01: Part II

Information:

1. Fire Insurance premium was paid for twelve months.

2. Monthly depreciation of Furniture is Tk. 5,000. There is currently no depreciation on
equipment.
3. Rent was paid for six months.
4. Loan from Jamuna Bank Ltd. is repayable after 5 years at an interest of 12% per year.
5. Rented the extra space of the storage for a yearly rent of 120,000 payable after every
six months.
6. Supplies on hand total 15,000 on 31/12/2023
7. Accrued salaries are Tk 30,000
8. There is no inventory left on 31/12/2023

Using the above information and existing trial balance (done in Part I):

(a) Prepare a worksheet

(b) i. Prepare an income statement,
ii. an owner’s equity statement, and
iii. a classified balance sheet.