Less Accumulated Depreciation on Computer

Profit and Loss ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
Profit and Loss
ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
For the month ended 31 July 2019 JUL 2019
Trading Income
Sales 20,000.00
Total Trading Income 20,000.00
Cost of Sales
Cost of Goods Sold 8,000.00
Total Cost of Sales 8,000.00
Gross Profit 12,000.00
Operating Expenses
Advertising 483.64
Bad debts 233.36
Depreciation 533.78
Insurance 159.49
Interest Expense 60.00
Motor Vehicle Expenses 135.45
Office Expenses 733.73
Rent 2,740.00
Wages and Salaries 4,592.00
Total Operating Expenses 9,671.45
Net Profit 2,328.55

Balance Sheet ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
Balance Sheet
ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
As at 31 July 2019 31 JUL 2019
Assets
Current Assets
Accounts Receivable 23,336.00
Allowance for doubtful debt (616.36)
Cash at Bank 11,771.00
Inventory 4,907.37
Office supplies 237.00
Prepayments 1,275.96
Total Current Assets 40,910.97
Fixed Assets
Computer Equipment 2,035.45
Less Accumulated Depreciation on Computer Equipment (32.65)
Less Accumulated Depreciation on Motor vehicle (2,618.38)
Less Accumulated Depreciation on Office furniture (2,013.75)
Motor vehicle 22,469.00
Office furniture 10,802.00
Total Fixed Assets 30,641.67
Total Assets 71,552.64
Liabilities
Current Liabilities
Accounts Payable 8,117.00
GST 979.26
Historical Adjustment (197.17)
Interest owing on the bank loan 60.00
Total Current Liabilities 8,959.09
Non-current Liabilities
Bank loan owing 11,754.00
Total Non-current Liabilities 11,754.00
Total Liabilities 20,713.09
Net Assets 50,839.55
Equity
Current Year Earnings 2,328.55
Retained Earnings 7,585.00
Share capital 40,926.00
Total Equity 50,839.55

Trial Balance ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
Trial Balance
ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
As at 31 July 2019
ACCOUNT CODE ACCOUNT ACCOUNT TYPE DEBIT CREDIT 30 JUN 2019
200 Sales Revenue 20,000.00 -
310 Cost of Goods Sold Direct Costs 8,000.00 -
400 Advertising Expense 483.64 -
416 Depreciation Expense 533.78 -
433 Insurance Expense 159.49 -
437 Interest Expense Expense 60.00 -
449 Motor Vehicle Expenses Expense 135.45 -
453 Office Expenses Expense 733.73 -
469 Rent Expense 2,740.00 -
477 Wages and Salaries Expense 4,592.00 -
505 Bad debts Expense 233.36 -
600 Cash at Bank Current Asset 11,771.00 23,048.00
610 Accounts Receivable Current Asset 23,336.00 3,451.00
620 Prepayments Current Asset 1,275.96 -
630 Inventory Current Asset 4,907.37 10,260.00
640 Allowance for doubtful debt Current Asset 616.36 (383.00)
650 Office supplies Current Asset 237.00 438.00
710 Office furniture Fixed Asset 10,802.00 10,802.00
711
Less Accumulated
Depreciation on Office
furniture
Fixed Asset 2,013.75 (1,844.00)
720 Computer Equipment Fixed Asset 2,035.45 -
721
Less Accumulated
Depreciation on Computer
Equipment
Fixed Asset 32.65 -
730 Motor vehicle Fixed Asset 22,469.00 22,469.00
731
Less Accumulated
Depreciation on Motor
vehicle
Fixed Asset 2,618.38 (2,287.00)
800 Accounts Payable Current Liability 8,117.00 (5,462.00)
820 GST Current Liability 979.26 -
826 Interest owing on the bank
loan Current Liability 60.00 -
830 Telephone payable Current Liability - (227.00)
840 Historical Adjustment Current Liability 197.17 -
900 Bank loan owing Non-current Liability 11,754.00 (11,754.00)
960 Retained Earnings Equity 7,585.00 (7,585.00)
970 Share capital Equity 40,926.00 (40,926.00)
Total 94,702.40 94,702.40 -

Account Transactions ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
Account Transactions
ABCDE PTY LTD JOSEPHDILANKA PONWEERA ARCHCHILLAGE
For the period 1 July 2019 to 31 July 2019
DATE SOURCE DESCRIPTION REFERENCE DEBIT CREDIT RUNNING
BALANCE GROSS GST
Accounts Payable
Opening Balance - 5,462.00 5,462.00 - -
1 Jul 2019 Payable Payment Payment: wages 2,384.00 - 3,078.00 (2,384.00) -
1 Jul 2019 Payable Invoice wages - 2,384.00 5,462.00 2,384.00 -
7 Jul 2019 Payable Invoice Creditor1 PO-0001 - 700.00 6,162.00 700.00 -
8 Jul 2019 Payable Payment Payment: Motor expense 149.00 - 6,013.00 (149.00) -
8 Jul 2019 Payable Invoice Motor expense - 149.00 6,162.00 149.00 -
9 Jul 2019 Payable Payment Payment: Insurance 1,579.00 - 4,583.00 (1,579.00) -
9 Jul 2019 Payable Invoice Insurance - 1,579.00 6,162.00 1,579.00 -
12 Jul 2019 Payable Payment Payment: Creditor1 977.00 - 5,185.00 (977.00) -
12 Jul 2019 Payable Payment Payment: Creditor1 1,423.00 - 3,762.00 (1,423.00) -
13 Jul 2019 Payable Invoice Computer - 2,239.00 6,001.00 2,239.00 -
14 Jul 2019 Payable Invoice Creditor1 PO-0002 - 754.00 6,755.00 754.00 -
15 Jul 2019 Payable Invoice wages - 2,208.00 8,963.00 2,208.00 -
15 Jul 2019 Payable Payment Payment: wages 2,208.00 - 6,755.00 (2,208.00) -
16 Jul 2019 Payable Invoice Rent - 3,014.00 9,769.00 3,014.00 -
16 Jul 2019 Payable Payment Payment: Rent 3,014.00 - 6,755.00 (3,014.00) -
20 Jul 2019 Payable Invoice Creditor1 PO-0003 - 696.00 7,451.00 696.00 -
22 Jul 2019 Payable Invoice Office supplies PO-0006 - 586.00 8,037.00 586.00 -
24 Jul 2019 Payable Invoice Creditor1 PO-0004 - 540.00 8,577.00 540.00 -
25 Jul 2019 Payable Credit Note Creditor1 PO-0004 81.00 - 8,496.00 (81.00) -
25 Jul 2019 Payable Credit Note Allocation Creditor1 PO-0004 81.00 - 8,415.00 (81.00) -
25 Jul 2019 Payable Credit Note Allocation Creditor1 PO-0004 - 81.00 8,496.00 81.00 -
28 Jul 2019 Payable Payment Payment: Creditor1 1,431.00 - 7,065.00 (1,431.00) -