Comprehensive Assignment Answer

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Marifa Tea House

Worksheet
For the month ended on 31 January 2023
Trial Balance Adjustments Adjusted Trial Balance Profit & Loss Statement Balance Sheet
List of Accounts
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
Accounts Payable 1,18,000 - 1,18,000 - 1,18,000
Accounts Receivable 3,50,000 3,50,000 - 3,50,000 -
Advance Rent 1,20,000 20,000 1,00,000 1,00,000 -
Bank Loan 2,00,000 - 2,00,000 - 2,00,000
Cash 4,70,000 4,70,000 - 4,70,000 -
Drawings 50,000 50,000 - 50,000 -
Equipment 1,00,000 1,00,000 - 1,00,000 -
Equity 10,50,000 - 10,50,000 - 10,50,000
Furniture 1,00,000 1,00,000 - 1,00,000 -
Prepaid Insurance 60,000 5,000 55,000 55,000 -
Purchase 7,50,000 7,50,000 - 7,50,000 -
Salary Expense 40,000 30,000 70,000 - 70,000 -
Sales Revenue 5,70,000 - 5,70,000 - 5,70,000
Service Revenue 1,50,000 - 1,50,000 - 1,50,000
Supplies 45,000 30,000 15,000 15,000 -
Utility Expense 3,000 3,000 - 3,000 -
Total= 20,88,000 20,88,000
Insurance Expense 5,000 5,000 - 5,000 -
Depreciation Expense 5,000 5,000 - 5,000 -
Accumulated Depreciation 5,000 - 5,000 - 5,000
Rent Expense 20,000 20,000 - 20,000 -
Interest Expense 2,000 2,000 - 2,000 -
Interest Payable 2,000 - 2,000 - 2,000
Accrued Rent Income 10,000 10,000 - 10,000 -
Rent Income 10,000 - 10,000 - 10,000
Supplies Expense 30,000 30,000 - 30,000 -
Salary Payable 30,000 - 30,000 - 30,000

Total= 1,02,000 1,02,000 21,35,000 21,35,000 8,85,000 7,30,000 12,50,000 14,05,000


Net Loss 1,55,000 1,55,000
Total= 8,85,000 8,85,000 14,05,000 14,05,000
Other Information
1. Fire Insurance premium was paid for twelve months.
2. Monthly depreciation of Furniture is Tk. 5,000. There is currently no depreciation on equipment.
3. Rent was paid for six months.
4. Loan from Jamuna Bank Ltd. is repayable after 5 years at an interest of 12% per year.
5. Rented the extra space of the storage for a yearly rent of 120,000 payable after every six months.
6. Supplies on hand total 15,000 on 31/12/2023
7. Accrued salaries are Tk 30,000
8. There is no inventory left on 31/12/2023

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