Waltham Rahul
Content
WALTHAM OI
Notes : Depriciation Expense on Lease On Equipment : 3 X 75000/(12X5) = 3750 =3X1500 + 2340 X 10 =27900
Bank Account Deposits = Revenue from Buisness + Capital Introduced on May 1($10,000) 108600 = Revenue from Services + Parking ($3300) + 10000 Hence, Revenue from Services = $95300
ASSESTS
Bank Account 10000 1200 98600 8230 34560 1700 6600 26400 2490 4500 22920 108600 108600 22920
Cash Revenue
Insurance Inventory Employee Payrolls Utility Miscellaneous Expenses Lease Payments Equipment Expenses Withdrawal by Knight To Bal
B al
Initial Deposit
Bal
Deposit with National 40000 35650 Deducted by National 1500 Rent 2850 To Bal 40000 40000 2850 Furniture Account 6000 6000 To Bal 6000 Amounts Recievables 340 730 1070 To Bal 1070 1070 1070
Purchased Furniture Bal
Overnight Parkers Local Merchants
EXPENS
Rental Expenses 1500 26400 27900 To Bal
For May The Rest of Lease Paid
Bal
27900 27900
27900
Equipment Furniture
Depriciation Expense 3750 150 3900 3900 3900 3900
WALTHAM OIL and LUBE CENTER
On Furniture : 3 X 6000/(12X5) =150
ASSESTS
Inventory 6320 4130 8230 18680 5290
Oil and Greese Uniforms, Operating Supplies Purchases Bal
13390 Inventory Expense 5290 18680
Prepaid Insurance
Prepaid Insurance A/C 1200 1200 900
300 Insurance Expenses 900 Bal 1200
Bal
Purchased Bal
Equipment A/C 75000 75000
75000 To Bal
Accumulated Depriciation To Bal 3900 3900 3750 For Equipment 150 Furniture 3900 3900 Bal
EXPENSES AND REVENUES
Employment Expenses 34560 2100 36660 To Bal
Salaries Paid Wages due
Bal
36660 36660
36660
Inventory Reduction Bal
Cost of Services Rendered 13390 13390 To Bal 13390
Revenue Account 340 730 450 95300 3300 100120 100120 Parking dues Local Merchants Personal Cars Car Services Parking Revenue Bal
To Bal
100120 100120
LIABILITES
Capital Account 40000 Deposit to National 10000 Deposit in Bank A/C 50000 50000 Bal Notes Payable 2490 49800 Balance of 75000 47310 49800 49800 47310 Bal
Paid till July End To Bal
To Bal
Defered Wages 2100 2100 Wages Due 2100 Bal
To Bal
Accounts Payable 6000 For Furniture 6350 350 For Utilities 6350 6350 6350 Bal
Utilities Miscellaneous
Utilities and Miscellaneous Expenses 1700 6600
Utilities Bal
350 8650 8650
8650 Bal 8650
Expense for 3 months
Insurance Expenses 300 300 To Bal 300
Withdrawl Personal Cars To Bal
Retained Earnings 4500 9320 Income 450 4370 9320 9320 4370 Bal
Balance Sheet ASSESTS Current Assets
Cash in Bank Account Inventory Prepaid Insurance Deposit with National Amount Recievables 22920 5290 900 2850 1070 33030
Fixed Assets
Equipment Depriciation Furniture Depriciation 75000 -3750 71250 6000 -150 5850 110130
ce Sheet Revenues LIABILITIES Current Liabilities
Defered Wages Accounts Payable 2100 6350 8450 49800 -2490 47310 Parking dues Local Merchants Personal Cars Car Services Parking Revenue Total
INCOME STATEMENT
Long Term Liabilities
Notes Payable Already Paid
Expenses
Cost of Services Rendered (COGS) , Reduction in Inventory
Owner's Equity
Capital Retained Earinings Withdrwals Personal Cars 50000 9320 -4500 -450 54370 110130
Gross Margin
Operating Expenses : Rental Expenses Depriciation Expenses Employment Expenses Utilities and Miscellaneous Expenses Insurance Total
Income
OME STATEMENT
340 730 450 95300 3300 100120
13390 86730
27900 3900 36660 8650 300 77410 9320
Notes : Depriciation Expense on Lease On Equipment : 3 X 75000/(12X5) = 3750 =3X1500 + 2340 X 10 =27900
Bank Account Deposits = Revenue from Buisness + Capital Introduced on May 1($10,000) 108600 = Revenue from Services + Parking ($3300) + 10000 Hence, Revenue from Services = $95300
ASSESTS
Bank Account 10000 1200 98600 8230 34560 1700 6600 26400 2490 4500 22920 108600 108600 22920
Cash Revenue
Insurance Inventory Employee Payrolls Utility Miscellaneous Expenses Lease Payments Equipment Expenses Withdrawal by Knight To Bal
B al
Initial Deposit
Bal
Deposit with National 40000 35650 Deducted by National 1500 Rent 2850 To Bal 40000 40000 2850 Furniture Account 6000 6000 To Bal 6000 Amounts Recievables 340 730 1070 To Bal 1070 1070 1070
Purchased Furniture Bal
Overnight Parkers Local Merchants
EXPENS
Rental Expenses 1500 26400 27900 To Bal
For May The Rest of Lease Paid
Bal
27900 27900
27900
Equipment Furniture
Depriciation Expense 3750 150 3900 3900 3900 3900
WALTHAM OIL and LUBE CENTER
On Furniture : 3 X 6000/(12X5) =150
ASSESTS
Inventory 6320 4130 8230 18680 5290
Oil and Greese Uniforms, Operating Supplies Purchases Bal
13390 Inventory Expense 5290 18680
Prepaid Insurance
Prepaid Insurance A/C 1200 1200 900
300 Insurance Expenses 900 Bal 1200
Bal
Purchased Bal
Equipment A/C 75000 75000
75000 To Bal
Accumulated Depriciation To Bal 3900 3900 3750 For Equipment 150 Furniture 3900 3900 Bal
EXPENSES AND REVENUES
Employment Expenses 34560 2100 36660 To Bal
Salaries Paid Wages due
Bal
36660 36660
36660
Inventory Reduction Bal
Cost of Services Rendered 13390 13390 To Bal 13390
Revenue Account 340 730 450 95300 3300 100120 100120 Parking dues Local Merchants Personal Cars Car Services Parking Revenue Bal
To Bal
100120 100120
LIABILITES
Capital Account 40000 Deposit to National 10000 Deposit in Bank A/C 50000 50000 Bal Notes Payable 2490 49800 Balance of 75000 47310 49800 49800 47310 Bal
Paid till July End To Bal
To Bal
Defered Wages 2100 2100 Wages Due 2100 Bal
To Bal
Accounts Payable 6000 For Furniture 6350 350 For Utilities 6350 6350 6350 Bal
Utilities Miscellaneous
Utilities and Miscellaneous Expenses 1700 6600
Utilities Bal
350 8650 8650
8650 Bal 8650
Expense for 3 months
Insurance Expenses 300 300 To Bal 300
Withdrawl Personal Cars To Bal
Retained Earnings 4500 9320 Income 450 4370 9320 9320 4370 Bal
Balance Sheet ASSESTS Current Assets
Cash in Bank Account Inventory Prepaid Insurance Deposit with National Amount Recievables 22920 5290 900 2850 1070 33030
Fixed Assets
Equipment Depriciation Furniture Depriciation 75000 -3750 71250 6000 -150 5850 110130
ce Sheet Revenues LIABILITIES Current Liabilities
Defered Wages Accounts Payable 2100 6350 8450 49800 -2490 47310 Parking dues Local Merchants Personal Cars Car Services Parking Revenue Total
INCOME STATEMENT
Long Term Liabilities
Notes Payable Already Paid
Expenses
Cost of Services Rendered (COGS) , Reduction in Inventory
Owner's Equity
Capital Retained Earinings Withdrwals Personal Cars 50000 9320 -4500 -450 54370 110130
Gross Margin
Operating Expenses : Rental Expenses Depriciation Expenses Employment Expenses Utilities and Miscellaneous Expenses Insurance Total
Income
OME STATEMENT
340 730 450 95300 3300 100120
13390 86730
27900 3900 36660 8650 300 77410 9320
