Mansa Building Balance Sheet as on 31st Dec, 1999 Assets Rs.

Land Building Less Accumulated Depreciation (for 9 years) Fixed Assets Account Receivables Cash at Bank Total Current Assets Total 1,200,000 3,600,000 1,080,000 3,720,000 4,250 1,289,420 1,293,670 5,013,670 Accrued Collection Charges (@ 4% on Rs. 4250) Accounts Payable for property rates and taxes Less amount applicable to 2000 Total Liabilities Owner's Capital Retained Earnings Total Capital Total Liabilities and Capital Rs. 170 120,000 60,000 60,170 4,800,000 153,500 4,953,500 5,013,670

Waltham Journal Entry from May - July Month Capital Investment Description

Deposit with National

Capital Investment

Office Furniture

Checking Amount

Insurance

Equipment

Oil and Grease Inventory

Uniforms

Rent

Equipment

Lease Payable

Cash

Inventory

Payroll

Utilities

Misc

Equipment

Withdrawls by Knight

Accounts Receivable

Waltham ournal Entry from May - July Journal Entry Cash Owners Capital Prepaid Expenses Cash Cash Owners Capital Property Cash Checking Amount Cash Prepaid Expense Cash Equipment Prepaid Expenses Oil and Grease Inventory Prepaid Expenses Uniforms Prepaid Expenses Rent Expense Prepaid Expenses Equipment National Lease Payable Cash Cash Parking Rental Oil and Lubrication Service Revenue Inventory Cash

Debit 40,000

Credit

40,000 40,000 40,000 16,000 16,000 6,000 6,000 10,000 10,000 1,200 1,200 25,200 25,200 6,320 6,320 4,130 4,130 1,500 1,500 49,800 49,800 26,400 26,400 108,600 3,300 105,300 8,230 8,230 12 months 40000 16000 1200

Payroll Cash Utilities Cash Misc Cash Equipment Cash Drawings Cash Accounts Receivable

34,560 34,560 1,700 1,700 6,600 6,600 2,490 2,490 4,500 4,500 1,070

Opening Balance Cash Capital Prepaid Insurance Insurance Expenses Oil & Grease Inventory Uniform & Supplies Inventory Equipment Security Deposit National Oil & Lubes Centre Lease Rental Paid Depreciation Parking rental received Oil & Lubrication Revenue Payroll Utilities Misc Expenditure Drawings Account Receivable Service charges received Account Payable Royalty Paid 40,000 40,000 -

Debit 119,000 1,100 100 14,550 4,130 77,490 40,000 49,800 27,900 3,750

Credit 200,380 10,000

Closing Balance Debit

3,750 35,650 49,800

1,100 100 14,550 4,130 73,740 4,350 27,900 3,750

4,040 105,300 36,660 2,050 6,600 4,500 1,070 730 2,450 23,400 23,400 36,660 2,050 6,600 4,500 1,070

Credit 41,380 50,000

4,040 105,300

730 2,450 -

Mansa Building Income Statement Jan - Dec' 2000 Sales 105300 Sales from Rent 105300 Other Income 0 Expenses Repair Expense 4,350 Painting Expense Salary Expense Other Expense 3,750 Insurance Expense 2,050 Depreciation Expense Tax Expense 1,070 Total Expenses Net Income Personal Expense Balance to Retained Earnings 11,220 94,080 94,080

Mansa Building Balance Sheet as on 31st Dec, 2001 Assets Land Building Less Accumulated Depreciation (for 10 years) Fixed Assets Account Receivables Cash at Bank Pre-paid expense Pre-paid Painting Expense Pre-paid Insurance Pre-paid collection Charges Rs. 41,380 0 2,450 38,930 100 1,100 27,900 6,600 36,660 Liabilities and Capital Salary Payable Tax Payable Deferred Revenue Total Liabilities Owner's Capital Retained Earnings

Total Current Assets Total

72,360

Total Capital

111,290 Total

pital Rs. 105,300 0 0 105,300 0 94,080

94,080 199,380 -88,090

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