Trial Balance

Name Of Account Debit Credit Balance

cash 150000 62000 88000 Dr
Bank 0 0 0 Dr
Acct Receivable 0 0 0 Dr
Merchandise Beginning 0 0 0 Dr
Merchandise Ending 0 0 0 Dr
Sales 0 50000 50000 cr
Purchases 0 0 0 dr
Salaries Expense 10000 0 10000 dr
Rent Expense 12000 0 12000 dr
Capital 0 100000 100000 cr
Furniture 30000 0 30000 dr
Sales Return and Allowance 0 0 0 dr
Sales Discount 0 0 0 dr
Purchase Return and Allowance 0 0 0 cr
Purchase Discount 0 0 0 cr
Transportation-In 0 0 0 dr
Carraiage- In 0 0 0 dr
Frieght-in 10000 0 10000 dr
Merchandise Ending (Income Summary) 0 0 0 cr
Depreciation Expense 0 0 0 dr
Bad Debts Expense 0 0 0 dr
Advertising Expense 0 0 0 dr
Insurance Expense 0 0 0 dr
Commission Income 0 0 0 cr
Service Income 0 0 0 cr
Acct Payable 0 0 0 cr
Notes Payable 0 0 0 cr
Salaries Payable 0 0 0 cr
Rent Payable 2000 2000 0 cr
Unearned Income 0 0 0 cr
Bank Loan 0 0 0 cr
Petty Cash 0 0 0 Dr
Prepaid Rent 10000 10000 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
 0 0
0 0
0 0
0 0
Total 224000 224000
 BALANCE SHEET
(As on Year Ended Dec-31-2012)
Assets
Current Assets
Cash 88000
Bank 0
Petty Cash Book 0
Merchandise Ending 0
Acct Receivable 0
Allownce For Bad Debt 0 0

Total Current Assets 88000

Fixed Assets
Furniture 30000
Allowance For Depreciation ( Furniture and Fixture) 0 30000
Machinery 0
Allowance For Depreciation (Machinery) 0 0
Building 0
Allowance For Depreciation (Building) 0 0
Equipment 0
Allowance For Depreciation (Equipment) 0 0

Total Fixed Assets 30000

TOTAL Assets 118000
BALANCE SHEET
As on Year Ended Dec-31-2012)
Equity
Libilities
Acct Payable 0
Notes Payable 0
Salaries Payable 0
Rent Payable 0
Unearned Income 0
Bank Loan 0
0

Total Libitlies 0

Owner's Equity
Capital 100000
Net Income 18000
Drawing 0 118000

Total Owner's Equity 118000

Total Equity 118000
 Income Statement
Sales 50000
Sales Return and Allowance 0
Sales Discount 0
Net Sales 50000
Less: Cost Of Good Sold
Merchandise Beginning 0
Add: Total Purchases
Purchases 0
Purchase Return and Allowance 0
Purchase Discount 0
Net Purchases 0
Transportation-In 0
Carraiage- In 0
Frieght-in 10000
Total Purchases 10000
Cost of Goods Available for sales 10000
Merchandise Ending (Income Summary) 0
Cost of Goods Sold 10000
Gross Profit 40000
Less: Operating Expense
Depreciation Expense 0
Bad Debts Expense 0
Salaries Expense 10000
Rent Expense 12000
Advertising Expense 0
Insurance Expense 0
Total Operating Expense 22000
Add: Other Income
Commission Income 0
Service Income 0
Total Other Income 0
Net Income 18000
 General Journal
Date Name Of Account Description
################# Cash
Capital Mr Zia Started a Business with cash investment Rs.10000
################# Furniture
Purchased Furniture for Cash
Cash
################# Cash
Sales
################# Salaries Expense
cash
################# Frieght-in
Cash
################# Prepaid Rent Paid Cash for rent in Advanced for 10 Month
cash
################# Rent Expense Utilize 10 month Prepaid Rent
Prepaid Rent
################# Rent Expense Due Rent for 2 months
Rent Payable
################# Rent Payable Closing the due after Payment
cash
urnal
Debit Credit
PKR 100,000.00
PKR 100,000.00
PKR 30,000.00
PKR 30,000.00
PKR 50,000.00
PKR 50,000.00
PKR 10,000.00
PKR 10,000.00
PKR 10,000.00
PKR 10,000.00
PKR 10,000.00
PKR 10,000.00
PKR 10,000.00
PKR 10,000.00
PKR 2,000.00
PKR 2,000.00
PKR 2,000.00
PKR 2,000.00