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Implementation of Capital into businessName of Partners Amount (Percentage of Investment ) Ali Rs.1,000,000 (25%) Akbar Rs.1,000,000 (25%) Ahmed Rs.1,000,000 (25%) Nisa Rs.1,000,000 (25%) Shahzaib

Implementation of Capital into businessName of Partners

Amount (Percentage of Investment )

Ali

Rs.1,000,000 (25%)

Akbar

Rs.1,000,000 (25%)

Ahmed

Rs.1,000,000 (25%)

Nisa

Rs.1,000,000 (25%)

Shahzaib

Mudarib

Total

Rs.4,000,000 (100%)

INCOME STATEMENT FOR GENERATORS-SHOWROOMIncome Statement

Amount (Rs.)

Amount (Rs.)

Revenue

3,500,000

Less: Sales returns and allowances

-

Net Sales

3,500,000

Cost of goods sold1,500,000

Gross Profit/(Loss)2,000,000

Expenses

Rent expense

(600,000)

Staff Salaries

(1,080,000)

Stationery expense

(54,000)

Miscellaneous expenses

(100,000)

_________

Net Profit

166,000

Cost of Assets and ExpensesList ofassets & Expense

Cost

25 Yamaha Generators(3.5KVA) (25 * 70000)

Rs.1,750,000.

25 Yamaha Generators (5KVA) (25* 90000)

Rs. 2,2500,000

Shop Advance & Rent

Rs. (300,000+50,000 (P.M)) = Rs.350,000.

Office Equipment

Rs.200,000.

Employees Salaries

Rs.50,000.

Petty Cash

Rs.300,000.

Miscellaneous Expense

Rs.100,000.

Total

Rs.100,000.

a)Business decided to take Ijarah agreement for the 25(7 KVA)Generator with Islamic Financial institution. On basis of above statements implement Ijarah mode of financing.

b)At the end of the year two partners decided to leave the business and give up their shares to existing shareholders. Prepare post termination report.

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