Question
Bati Transport Balance sheet January 31, 2003 Assets Current Assets: CashBirr 41, 030 Accounts Receivable.. 9,650 Supplies 400 Prepaid insurance.150 Total current assetsBirr 51,230 Plant
Bati Transport
Balance sheet
January 31, 2003
Assets
Current Assets:
CashBirr 41, 030
Accounts Receivable.. 9,650
Supplies 400
Prepaid insurance.150
Total current assetsBirr 51,230
Plant Asset (None-Current Assets):
Office equipment..Birr 110,600
Truck550,000 561,600
Total assetBirr 612,830
Liabilities
Current liabilities
Accounts payable..Birr 12,430
Non-current liabilities
Notes payable..150,000
Total liabilitiesBirr 162,430
Owners equity
Ato Yimer Capital.. 450,400
Total liability and owners equity.Birr 612,830
The temporary accounts of Bati transport are closed as follows.
2003 Income summary.25,300
January Service income25,300
31 Closing revenue
31 Salary expense..18,800
rent expense4,000
Maintenance expense.. 450
Insurance expense..450
Supplies expense340
Utilities expense.220
Truck expense 90
Miscellaneous expense.50
Income expense24,400
Closing expenses
2003 Income summary900
January 31 Yemer Capital..900
Closing income summary
31 Yimer capital...500
Yimer drowing..500
Closing with drowal
For the month ended January 31, 2003
Yimer capital January 1, 2003Birr 450,000
Net income for the month.birr 900
Less: Withdrawal...500 400
Yimer capital, January 31, 2003..Birr 450,400
Bati Transport
Income statement
For the month ended. Jan 31, 2012
Service Income Birr 25,300
Operating expenses
Salary expense..Birr 18,800
Rent .4,000
Maintenance expense 450
Insurance 450
Supplies .340
Utilities ..220
Truck .. .90
Miscellaneous 50
Total operating expense24,400
Net IncomeBirr 900
Bati Transport
Trial Balance
January 31, 2003
Cash
41,030
00
Accounts Receivable
2,250
00
Supplies
740
00
Prepaid Insurance
600
00
Office equipment
11,600
00
Truck
550,000
00
Accounts payable
12,430
00
Notes payable
150,000
00
Yimer capital
450,000
00
Yimer drawing
500
00
Service income
17,900
00
Salary expense
18,800
00
Rent expense
4,000
00
Utilities expense
220
00
Maintenance expense
450
00
Truuck expense
90
00
Miscellaneous expense
50
00
Total
630,330
00
630,330
00
Prepare cash flow statement for bati transport for january 30, 2012
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started