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Balance sheet as on 31st March 2015

Asset Amount liabilities Amount


Debtors 85000 Creditors 65000
outstanding tailoring
Cash 6850 charges 8500
Bank 120000 Salary outstanding 8000
Inventory
Dress Material 25000
Dress 75000
Security Deposit 50000
Furniture 150000
Less: Accumulated Dep. -33750
Prepaid Insurance 2800

480900 81500
2015
Equity Amount Furniture:
Jan. 1 2013 150000

Life 120
Dep. Per month 1250
life consumed 27
dep. Charged 33750
Balance 116250

Insurance Premium
June 1, 2014 4800
Life 24
Consumption per month 200
Month Consumed 10
Insurance expensed 2000
Balance as on 31 march 201 2800
399400
Balance sheet as on 31st March 2015
Asset Amount liabilities Amount Equity
Debtors 85000 Creditors 65000 Equity
Cash 6850 outstanding tailoring 8500
Bank 120000 Salary Outstanding 8000
Inventory
Dress Material 25000
Dress 75000
Security Deposit 50000
Furniture 150000
Less: Accumulated Dep. -33750
Prepaid Insurance 2800

480900 81500

Income statement Balance sheet as on 31st March 2016


Items Amount Asset Amount liabilities
Revenue for the year 1055000 Debtors 72600 Creditors
Less: Cost of goods sold 728200 Cash 5186 outstanding tailoring
Gross Profit 326800 Bank 158000 Salary Outstanding
Inventory
Less: Rent 119064 Dress Material 32000
Less: Insurance 2400 Dress 80000
Less: depreciation 15000 Security Deposit 50000
Less: Other Charges 16000 Furniture 101250
Less: Salary 120000 Prepaid Insurance 400
Total Expenses 272464

Profit for the year 54336

499436
Cash & Bank Account
Amount Opening Balnce on 01/04/2016 126850
399400 Add: Payment received from customers 1067400
less: Payment to Supplier 550000
Less: Tailoring Charges paid 182000
Less: Rent Paid 119064
Less: Salary Paid 116000
Less: Other expenses 16000
Less: Drawings 48000
Cash and Bank Balance 163186
Cash Balance 5186
Bank Balance 158000
Material Account:
Opening Balnce on 01/04/2016 25000
Add: Purchased During the year 560000
Cost of goods consumed 553000
Ending Balance 32000
399400
Tailoring Charges Account:
Opening Balnce on 01/04/2016 8500
Add: Charges for the year 180200
31st March 2016 Paid during the year 182000
Amount Equity Amount Ending Balance 6700
75000 Equity 405736
6700 Dress Account
12000 Opening Balnce on 01/04/2016 75000
Add: Raw Material Consumed in the year 553000
Add: Labour Consumed in the year 180200
Less: Cost of goods Sold 728200
Ending Balance 80000

Debtors Account
Opening Balnce on 01/04/2016 85000
Add: Sale made during the year 1055000
Cash collected during the year 1067400
Ending Balance 72600

Creditors Account
93700 405736 Opening Balnce on 01/04/2016 65000
Add: Purchase made during the year 560000
Cash payment during the year 550000
Ending Balance 75000

Rent Account
Rent payable upto Dec. 2013 8000
Rent payable upto Dec. 2014 8800
Rent payable upto Dec. 2015 9680
Rent payable upto Dec. 2016 10648
Rent for the year 2015-16 119064

Salary Payable
Salary outstanding on 01/04/2015 8000
Salary Payable during the year 120000
Salary paid 116000
Salary Outstanding at the end 12000

Furniture Account
Opening Balance on 01/04/2015 116250
Depreciation for the year 15000
Ending balance 101250

Prepaid Insurance Account


Opening Balance on 01/04/2015 2800
Consumed during the year 2400
Ending balance 400

Equity Account
Opening Balance on 01/04/2015 399400
Add: Profit for the year 54336
Less: Drawing during the year 48000
Ending balance 405736