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Maria Hernandez & Associates

Harvard Business School Case # 902401


Case Software #XLS-786

Copyright © 2010 President and Fellows of Harvard College. No part of this product may be
reproduced, stored in a retrieval system or transmitted in any form or by any means—electronic,
mechanical, photocopying, recording or otherwise—without the permission of Harvard Business
School.
Assets = Liability

Trade Equipments/ Prepaid


Cash Supplies = Loan
Receivables Software Rent
July 2nd 12000 5000 27000 6000 20000
Sales 40000
Credit Sales 7000
Purchase of Supplies -900 900
Supplies consumed -1700
Paid Rent august -3000
Paid Rent September -3000 3000
Rent adjusted for july -3000
Salaries etc -33000
Puchase of Equipmen -5500 5500
Puchase of Equipment 5500
Interest on loan due 200
Depreciation -1500
Total 6600 4200 7000 36500 6000 20200

Total Assets = 60300

Interest on loan 1200 for full year


Loan due fr 2 months 200

Depreciation 1500
Stockholders' Equity
Liability +
Retained Earnings
Common
Trade Stock
+ Revenue -− Expenses
Payable
30000
40000
7000

-1700
-3000

-3000
-33000

5500
-200
-1500
5500 30000 47000 -42400

Total Liabilities + Equity = 60300


Trial Balance as at Aug 31
Dr. Cr.
Amount (Rs) Amount (Rs.) Adjustments
Cash Account 6600 1. Closing stock of
Capital Account 30000 2. The depreciation
Loans from Father Account 20000 3. Interest on Loan
Supplies Account 5900 4. Rent of July to b
Equipment Account 38000
Prepaid Rent Account 9000
Sales Account 47000
Trade Receivables A/c 7000
Trade Payables Account 5500
Salary Account 33000
Rent Account 3000

Total 102500 102500


Adjustments
1. Closing stock of inventory is 4200
2. The depreciation on Equipment to be charged Rs. 1500
3. Interest on Loan Due @ 6% p.a = Rs. 200
4. Rent of July to be adjusted with prepaid rent Rs. 3000
Unadjusted Trial Balance Adjustments
Accounts Debits Credits Debits Credits
Cash Account 6600
Capital Account 30000
Loans from Father Account 20000 200
Supplies Account 5900 1700
Equipment Account 38000 1500
Prepaid Rent Account 9000 3000
Sales Account 47000
Trade Receivables A/c 7000
Trade Payables Account 5500
Salary Account 33000
Rent Account 3000 3000

102500 102500
Supplies Exp Account 1700
Depreciation Account 1500
Interest on Loan Account 200
6400 6400

Adjustments
1. Closing stock of inventory is 4200
2. The depreciation on Equipment to be charged Rs. 1500
3. Interest on Loan Due @ 6% p.a = Rs. 200
4. Rent of July to be adjusted with prepaid rent Rs. 3000
Adjusted Trial Balance Income Statement Balance Sheet
Debits Credits Debits Credits Assets (Debits)
6600 6600
30000
20200
4200 4200
36500 36500
6000 6000
47000 47000
7000 7000
5500
33000 33000
6000 6000

1700 1700
1500 1500
200 200

102700 102700

Net Profit 4600


47000 47000
60300
Balance Sheet
(Liabilities) Credits

30000
20200

5500

4600

60300
Income Statement for the period ended 31st, August, 2004
Revenue Rs.
Revenue from Operations 47000
Other Income 0
Total Income 47000
Expenses
Cost of Materials Consumed 1700
Power and Fuel 0
Employee Benefits and Expenses 33000
Finance Cost 200
Depreciation and Amortization 1500
Other Expenses (Rent) 6000
Total Expenses 42400
Profit Before Tax 4600
Less: Tax 0
Profit for the Period 4600
Balance Sheet as at 31st, August, 2004
Assets
Non-current Assets Rs.
Property, Plant & Equipment 36500
Capital Work-in-Progress 0
Intangible Assets 0
Assets under Development 0
Financial Assets
Investments 0
Loans 0
Others 0
Current Assets
Inventories 4200
Financial Assets
Investments 0
Trade Receivables 7000
Cash and Cash Equivalence 6600
Bank Balance other than Cash 0
Loans 0
Others (Prepaid Rent) 6000
Total Assets 60300
Equity and Liabilities
Equity
Equity Share Capital 30000
Other Equity (Reserves & Surplus) 4600
Liabilities
Non-current Liabilities
Borrowings 20200
Provisions 0
Others 0
Current Liabilities
Borrowings 0
Trade Payables 5500
Short Term Provisions 0
Others 0
Total Liability & Equity 60300
Cash Flow Statement for the period ended 31st, August, 2004 Balance Sheet
Cash Flow from Operating Activity Rs. Rs. Assets
Received from Clients 40000 Non-current Assets
Purchased Supplies -900
Paid Rent -6000
Payment for Salaries -33000 100

Cash Flow from Investing Activity


Purchased Equipments/software -5500 -5500

Cash Flow from Financing Activity


0 0 Current Assets

Net Increase or Decrease of Cash or Cash


Equivalents -5400

Add: Opening Cash Balance (2nd July, 2004) 12000

Closing Cash Balance (31st Aug, 2004) 6600

Equity and Liabilities


Equity

Liabilities
Balance Sheet as at 31st, August, 2004 Income Statement for the period ended 31st, August, 200
Revenue Rs.
Non-current Assets Rs. Revenue from Operations 47000
Property, Plant & Equipment 36500 Other Income 0
Capital Work-in-Progress 0 Total Income 47000
Intangible Assets 0 Expenses
Assets under Development 0 Cost of Materials Consumed 1700
Financial Assets Power and Fuel 0
Investments 0 Employee Benefits and Expenses 33000
Loans 0 Finance Cost 200
Others 0 Depreciation and Amortization 1500
Current Assets Other Expenses (Rent) 6000
Inventories 4200 Total Expenses 42400

Financial Assets Profit Before Tax 4600


Investments 0 Less: Tax 0
Trade Receivables 7000 Profit for the Period 4600
Cash and Cash Equivalence 6600
Bank Balance other than Cash 0
Loans 0
Others 6000
Total Assets 60300
Equity and Liabilities

Equity Share Capital 30000


Other Equity (Reserves & Surplus 4600

Non-current Liabilities
Borrowings 20200
Provisions 0
Others 0
Current Liabilities
Borrowings 0
Trade Payables 5500
Short Term Provisions 0
Others 0
Total Liability & Equity 60300
e period ended 31st, August, 2004

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