250 215000 Trial Balance account opening balance debit credit closing balance bane 42900 250 600 150600 cash 550 2550 7 550 sale 226000 45000 245000 account papoole $1.000 12000 L 12ooo Share Capital 250000 750 000 250000 inventory 210000 +10000 210000 advertising 23000 44000 4000 packing material 1000 2000 2000 getty expenses 23000 Z 3000 3000 office furniture 1500 2 1500 1500 - scrag 2250 account recievable 711500 716.000 16000 accrued utilines 2000 3000 43000 accrued whs 10000 715000 accrued rent 3000 4500 4500 discount 200 2500 500 office cleaning 21000 21000 1000 office supplies 22000 22000 +2000 laptop 1500 21500 entertaiment 200 Z 200 L200 expenses payable 17.500 315000 15000 purchase 23000 delivery var 25000 5000 1700 263 300 123.900 Net profit 6425 Prepare depreciate laptop (1500x 15 = 225 Statement of Retain Earnings depreciate van (5000x 5 ) = 250 Statemen of cash Flows depreciate office furniture (1800-10) - 150 Direct & Indirect method fuel to V I 1 Profit & Loss Statement Balance Sheet Amount "Amount "Amount Assets 10,000 45,000 500 250 Liability & Equity share capital net earnings 50,000 6,425 1,350 inventory depreciate office furniture (1500-150) depreciate laptop (1500-225) depreciate delivery van (5000-250) 1,275 42,750 4,750 4 Description 5 sale discount scrap purchase 3000 Total Net Revenue 42750 3 Cost of Goods Sold Gross Profit Expenses petty expenses 3000 office cleaning 1500 office supplies entertaiment 200 accrued utilities 1000 accrued wages&salary 15000 accrued rent 4500 fuel 500 advertising 4000 total of depreciation 625 packing material 2000 Net earnings Sheet1 + Current liability account payable negative cash expenses payable 12,000 550 15,000 2000 Current Assets bank account recievable Total Assets 50,600 16,000 83,975 Total Equity and liab 83,975 Prepare Statement of retain Earning Statement of cash flow (direct & indirect method) close nominal accounts to trading and profit& balance 6,425