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    Issued & Paid Up Capital: 14 Schedual of Fixed Assets

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    Shoukat Khaliq
    The document summarizes the financial position of a company for the year. It includes details of issued capital, reserves, assets, liabilities, income statement and notes. Key highlights are total assets of Rs. 567,000 including tangible assets of Rs. 277,400 and current assets of Rs. 180,000. Total liabilities are Rs. 90,250. Sales were Rs. 350,000 with a gross profit of Rs. 50,000 and net profit after tax of Rs. 6,950.

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    Issued & Paid Up Capital: 14 Schedual of Fixed Assets

    Uploaded by

    Shoukat Khaliq
    32 views6 pages
    The document summarizes the financial position of a company for the year. It includes details of issued capital, reserves, assets, liabilities, income statement and notes. Key highlights are total assets of Rs. 567,000 including tangible assets of Rs. 277,400 and current assets of Rs. 180,000. Total liabilities are Rs. 90,250. Sales were Rs. 350,000 with a gross profit of Rs. 50,000 and net profit after tax of Rs. 6,950.

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    The document summarizes the financial position of a company for the year. It includes details of issued capital, reserves, assets, liabilities, income statement and notes. Key highlights are total assets of Rs. 567,000 including tangible assets of Rs. 277,400 and current assets of Rs. 180,000. Total liabilities are Rs. 90,250. Sales were Rs. 350,000 with a gross profit of Rs. 50,000 and net profit after tax of Rs. 6,950.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    32 views6 pages

    Issued & Paid Up Capital: 14 Schedual of Fixed Assets

    Uploaded by

    Shoukat Khaliq
    The document summarizes the financial position of a company for the year. It includes details of issued capital, reserves, assets, liabilities, income statement and notes. Key highlights are total assets of Rs. 567,000 including tangible assets of Rs. 277,400 and current assets of Rs. 180,000. Total liabilities are Rs. 90,250. Sales were Rs. 350,000 with a gross profit of Rs. 50,000 and net profit after tax of Rs. 6,950.

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    You are on page 1of 6

    10 Issued & Paid Up Capital 14 Schedual of Fixed Assets

    Ordinary Shares Capital 367,500 Cost of Assets


    6% Preferance Shares 80,000 75,000
    Stock Dividend 4,800 84,800 20,000
    Total 452,300 200,000
    11 Reserves (Capital & Revenue) 295,000
    For Sinking of Fund 500
    500
    12 Unappropriated Profit 15 Intangible Assets
    Opening Profit 2,500 Parents
    Profit of This Year 8,950
    11,450 16 Trade Debtors
    Debitors
    13 Creditors, Accrued & Other Liabilities Allowance or Badebts
    Creditor 30,000
    10% Bank Overdrft 50,000
    Accrued Salaries & Wages 5,000
    Accrued Interest on Bank Overdrft 5,000
    Accrued Interest on TFC 250
    90,250
    dual of Fixed Assets
    Addition Last Year Depreciation Accumulated
    / Subtraction Total Assets Cost Depreciation of the Year Depreciation Book Value
    75,000 5,000 7,000 12,000 63,000
    20,000 4,000 1,600 5,600 14,400
    200,000 - 200,000
    - 295,000 9,000 8,600 17,600 277,400

    gible Assets
    800

    50,000
    ance or Badebts 4,500
    45,500
    Note #
    Authorized Capital

    Issued & Paid Up Capital 10 452,300 Tangible Assets 14


    Reserve & Fund 11 500 Intangible Assets 15
    Ordinary Shares Premium 10,000 Longterm Investment
    Unappropiate Profit 12 11,450
    Current Assets
    10% Term Finance Certificate (T.F.C) 2,500 Trade Debtors 16

    Creditors, Accrued & Other Liabilities 13 90,250 Taxation

    Cash & Bank Balance

    567,000
    277,400
    800
    180,000

    45,500

    2,000

    6,000

    511,700

    55,300
    Note # Amount

    Sales 1 350,000
    Less: Cost of Goods Sold 2 300,000

    Gross Profit 50,000

    Less: Administrtive & Saleing Expenses 3 49,050

    Operationg Income 950


    Add: Other Income 4 2,000

    Income Befor Tax 2,950

    Less: Taxation 4,000

    Profit After Tax 6,950

    Add: Unappropiate Profit Brough Forward 2,500

    Profit Availabel for appropriation 9,450

    Less Sinking fund reserve 500

    Unapropiate Profit Carry Forward 8,950


    Note No.
    1 Revenue

    Sales 350,000

    2 Cost of Goods Sold 300,000

    Administrative Expenses
    Salary & Wages Expenses 15,000
    Accrued Salaries 5,000 20,000
    Misc. Expenses 8,000 8,000
    Amotization 200 200
    Interest Expenses 3,000 3,000
    Accrued Interest on overdraft 5,000 5,000
    Accrued Interest on TFC's 250 250
    Reparing & Maintences Expenses 1,500 1,500
    Depreciation Expenses
    on Building 7,000
    on Furniture 1,600 8,600

    Total Administrative Expenses 46,550


    Saleing Expenses
    Bad Debts Expenses 2500

    3 Total Expenses 49,050

    Other Income
    4 Inventment Income 2,000

    Total Other Income 2,000

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