Tutorial Class-1

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Income Statement

Asset
Sales 13500 AR 2000
COGS 8000 Cash 1430
Gain on sales o 100 Inventory 1800
Dep 500 PPE 4500
Interest 200 Accumulated Dep -900
Misc Expenses 3200 Net Asset 3600
Income Tax 450 8830
1250

Loss on Sale of -100 Cash 300

INTEREST
180
20 Opening
1200 PPE 4000 2800
-800 Accumulated Depreciation -1200 -400
400 Net Value 2800 2400

100

Cash Reconciliation
Opening 300
14000
-8100
-1700
500
-200
450
-180
-3200
-440
1430
Balance Sheet
L+E
AP 1500
TP 50
Long Term Debt 2000
Common Stock 1450
RE 3810
Accrued Expense 20
8830
Opening B/S 1/4/2019
Assets L+E
Cash 80,000 Common Stock 200,000
Patent 120000

Incorporation Cost 2500 Income Statement


Sales 598500
Equipments 85000 COGS Component Parts 197000
Mfg. Payroll 145000
Redesign Cost 25000 Other Mfg Cost 62000
Total COGS 404000
Component Part Purchase 212100 Incorporation Cost 2500
Redesign Cost 25000
Loan 30000 -30,000 SGA 63000
Interest 500
Interest 500 Dep 8500
Amortization 20000
Manufacturing Payroll 145000 PBT 75000
Income Tax Expense 22500
Other Mfg Cost 62000 PAT 52500
Dividend 5000
SGA 63000 Retained Earning 47500

Ending Components 15100

Sales 598500

Inventory Raw Material


WIP
Finished Goods
Income Statement Balance Sh31/03/2020
Assets L+E
Cash 78,400 Stock 200,000
Inventory 0 Retained E 47500
Component Parts 15100
Equipments 85000 Tax Payabl 22500
Depreciation 8500
Net Equipment 76500
Patent 120000
Amortization 20000
Net Value 100000

Net Asset 270,000 NET L+E 270,000

Cash Reconciliation
Opening 80,000
Revenue 598500
COGS -404000
Incorporation Cost -2500
Redesign Cost -25000
SGA -63000
Interest -500
Dividend -5000
Equipment -85000
Component -15100
Raw Material 78,400

Finished Goods

Short term debt rai 30000 1/9/2019


-30,000 31/12/2019

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