Paramjit

Nirmaljit

2
14

4
6

4
7
8
 Cash
1 40000
2 10000
3 -30000
5 -1000
Owners Capital 6 -15000
20000 7 28000
20000 9 -6000
10 -400
Loan 12 5000
10000 13 2000
-10000 0 14 -10000
Security Deposit 14 -200
30000 15 -2400
16 -5000 15000
A/c Payable
50000 Revenue
-15000 35000 7 28000
Inventory 8 10000 38000
50000
-21000
-8000 21000 A/c Receivable
8 10000
13 -2000 8000
COGS
7 21000
8 8000 29000

Retained Earnings = Revenue - Expense

Investing=Financing Business operations

KHILLS COLD PRESS OILS KHILLS COLD PRESS OILS
BALANCE SHEET as on 2nd June PROFIT AND LOSS STATEMENT FOR MONTH OF JUNE

Liabilities and Owners Equity Output Revenue 38000

Owners Equity
Owners Capital
Paramjit 20000 Inputs Expense
Nirmaljit 20000 Cost of Goods Sold / Co 29000
Retained Earnings -3600 36400 Advertising expense 1000
Salary expense 6000
Discount coupon expe 400
Non-current liabilities Rent Expense 5000
0 Interest 200 41600
Current Liabilites
Loan 0 Profit -3600
A/c Payable 35000 Dividends 0
Gift certificates 5000 40000 Retained Earnings -3600

Total 76400

Assets ## Workings
Non current Assets Interest 200 # if amount not given y
Security Deposit 30000
Pre-paid Insurance 1200 31200

Current Asset
Cash 15000
Inventory 21000
A/c Receivable 8000
Pre-paid Insurance 1200 45200

Total 76400
FOR MONTH OF JUNE
# if amount not given you may have to calculate the interest here