Gigabyte Limited

Profit and loss and other comprehensive income

For the Year ended 31st December, 2010
Particulars Tk. Tk. Tk.
Sales 80000
Less: Returns 500 79500
Less: Cost of Sale
Beginning inventory 15500
Add: Purchase 40000
Less: Returns 1200
54300
Wages 60000
114300
Less: Closing inventory 99000
15300
Less: Lost by fire 4000 11300
Lost by fire 4000 15300
Gross profit 64200
Less: Operating expense
Salaries 23600
Advertisement 5600
Less: Deffared 2800 2800
Office supplies 3000
Less: On hand 500 2500
Rates & Insurance 2400
Compensation for late goods 700
Bad debt 500
Interest on debenture 1400
Add: Accrued 1100 2500
Lost by fire 4000
Depreciations:
Mechinery & Plant 2250
Goodwill 1000
Preliminary expense 250
Building 1000 4500 43500
20700
Other comprehensive income ----
Total comprehensive income 20700
Dividend payable 5000
Retain surplus 15700
Profit & Loss Accounts 15500
Unappropriate profit 31200
 Statement of Finncial Position
As act 31st December, 2010

Particulars Tk. Tk. Tk.

Assets
Non current assets
Plant & Machinery 25000
Less: Depreciation 2250 22750
Building 10000
Less: Depreciation 1000 9000
Furniture & fixtures 1200
Goodwill 10000
Less: Depreciation 1000 9000
Investment 8000
Total non current assets 49950
Current assets:
Sundry debtors 5500
less: bad debt 500 5000
Inventory 95000
Cash Balance 11300
Preliminary expense 5000
Less: Write off 250 4750
Bill receivable 2000
Ofice suppllies on hand 500
Deffared advertising 2800
Total current assets 121350
Total Assets 171300

Equity & Liabilities

Equity:
Paidup capital 50000
Calls in advance 500 50500
Unappropriate profit 31200
Debentures 5% 50000
Add: Interest 1100 51100
Total Equity 132800
Current liabilities
Sundry creditors 20500
Bank overdraft 13000
Dividend payable 5000
Total liabilities 38500
Total Equity & Liabilities 171300