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Financial Modeling

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0% found this document useful (0 votes)
20 views10 pages

Financial Modeling

handout

Uploaded by

abaynehgedion
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Accounts Sub Accounts Accounts Financial Statement Individual Accounts

Assets Current Assets Assets Balance sheet Cash


Liabilities Fixed Assets Assets Balance sheet Equity-Mohamed
Equity Current Liabilities Liabilities Balance sheet CBE-Bank 1110
Expenses Long tern Liabilities Liabilities Balance sheet Inventory
Revenue Equity Equity Balance sheet Account Payable
Expenses Expenses Income Statement Sales
Revenue Revenue Income Statement Cost of Goods sold
Contra Revenue Revenue Income Statement Account Receivable
Electricity
Salary Expenses
Income Taxes Expenses
Gov't Payable
Shop
Telephone Expenses
Building
Truck
Sub Accounts
Current Assets
Euity
Current Assets
Current Assets
Current Liabilities
Revenue
Expenses
Current Assets
Expenses
Expenses
Expenses
Current Liabilities
Fixed Assets
Expenses
Fixed Assets
Fixed Assets
Date Description Account Debit Credit Comments
1-Jan-22 Capital investment for New Business Cash 1,000,000
1-Jan-22 Capital investment for New Business Equity-Mohamed 1,000,000
2-Jan-22 cash Deposited from cash on hand CBE-Bank 1110 500,000
2-Jan-22 cash Deposited from cash on hand Cash 500,000
2-Jan-22 Paid Electricity expenses Electricity 15,000
2-Jan-22 Paid Electricity expenses Cash 15,000
4-Jan-22 purchases Inventory Inventory 300,000
4-Jan-22 purchases Inventory Cash 300,000
4-Jan-22 purchases Inventory Inventory 600,000
4-Jan-22 purchases Inventory on account from ABC Company Account Payable 600,000
6-Jan-22 Sold Inventory for cash to ABC company CBE-Bank 1110 460,000
6-Jan-22 Sold Inventory for cash to ABC company Sales 460,000
6-Jan-22 Adjusted inventory Against CGoS Cost of Goods sold 380,000
6-Jan-22 Adjusted inventory Against CGoS Inventory 380,000
8-Jan-22 sold inventory on credit basis from XYZ company Account Receivable 400,000
8-Jan-22 sold inventory on credit basis from XYZ company Sales 400,000
8-Jan-22 Adjusted inventory Against CGoS Cost of Goods sold 320,000
8-Jan-22 Adjusted inventory Against CGoS Inventory 320,000
10-Jan-22 Paid Staff Salary Salary Expenses 30,000
10-Jan-22 Paid Staff Salary Cash 30,000
12-Jan-22 Paid Telephone Expenses Telephone Expenses 15,000
12-Jan-22 Paid Telephone Expenses CBE-Bank 1110 15,000
15-Jan-22 Paid Creditors payments Account Payable 500,000
15-Jan-22 Paid Creditors payments CBE-Bank 1110 500,000
20-Jan-22 Cash received from XZY Company CBE-Bank 1110 350,000
20-Jan-22 Cash received from XZY Company Account Receivable 350,000
30-Jan-22 Income Taxes for the Governm,ent Income Taxes Expense 20,000
30-Jan-22 Income Taxes for the Governm,ent Gov't Payable 20,000
30-Jan-22 Purchase of Office Building for the business operation Building 100,000
30-Jan-22 Purchase of Office Building for the business operation CBE-Bank 1110 100,000
31-Jan-22 Purchase of Truck on Credit Truck 200,000
31-Jan-22 Purchase of Truck on Credit Account Payable 200,000
Cash
Data
Date Account Sum of Debit Sum of Credit
1-Jan-22 Cash 1,000,000
Equity-Mohamed 1,000,000
2-Jan-22 Cash 515,000
CBE-Bank 1110 500,000
Electricity 15,000
4-Jan-22 Account Payable 600,000
Cash 300,000
Inventory 900,000
6-Jan-22 CBE-Bank 1110 460,000
Cost of Goods sold 380,000
Inventory 380,000
Sales 460,000
8-Jan-22 Account Receivable 400,000
Cost of Goods sold 320,000
Inventory 320,000
Sales 400,000
10-Jan-22 Cash 30,000
Salary Expenses 30,000
12-Jan-22 CBE-Bank 1110 15,000
Telephone Expenses 15,000
15-Jan-22 Account Payable 500,000
CBE-Bank 1110 500,000
20-Jan-22 Account Receivable 350,000
CBE-Bank 1110 350,000
30-Jan-22 CBE-Bank 1110 100,000
Gov't Payable 20,000
Building 100,000
Income Taxes Expense 20,000
31-Jan-22 Account Payable 200,000
Truck 200,000
Total Result 5,190,000 5,190,000
Trail Balance
Data
Account Sum of Debit Sum of Credit
Account Payable 500,000 800,000
Account Receivable 400,000 350,000
Cash 1,000,000 845,000
CBE-Bank 1110 1,310,000 615,000
Cost of Goods sold 700,000
Electricity 15,000
Equity-Mohamed 1,000,000
Inventory 900,000 700,000
Salary Expenses 30,000
Sales 860,000
Telephone Expenses 15,000
Gov't Payable 20,000
Building 100,000
Truck 200,000
Income Taxes Expenses 20,000
Total Result 5,190,000 5,190,000
Current Liabilities Balance sheet
Current Assets Balance sheet
Current Assets Balance sheet
Current Assets Balance sheet
Expenses Income Statement
Expenses Income Statement
Equity Balance sheet
Current Assets Balance sheet
Expenses Income Statement
Revenue Income Statement
Expenses Income Statement
Current Liabilities Balance sheet
Fixed Assets Balance sheet
Fixed Assets Balance sheet
Expenses Income Statement
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Jijiga Unversity
Income Statement/Profit and Loss
For the period of Jan-31, 2022
Sales 860,000
Cost of Goods sold - 700,000
Gross Profit 160,000

Operating Expenses
Salary Expenses 30,000
Electricity Expense 15,000
Telephone Expense 15,000
Total Operating Expenses - 60,000
Operating Profit 100,000
Tax(20%) - 20,000.0
Net Income After Tax 80,000.0
Jijiga Unversity
Balance Sheet/Financial Position
For the period of Jan-31, 2022
Assets
Fixed Assets
Building 100,000
Truck 200,000
Total Fixed Assets 300,000

Current Assets
Cash 155,000
Account Receivable 50,000
Inventory 200,000
CBE-Bank 1110 695,000
Total Current Assets 1,100,000

Total Assets 1,400,000


sity
cial Position
n-31, 2022
Liabities and Equity

Liabilities
Account Payable 300,000
Gov't Payable 20,000
Total Liabilities 320,000

Equity
Equity-Mohamed 1,000,000
Net Income After Tax 80,000
Total Equity 1,080,000

Total Liabilities and Equity 1,400,000

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