Submitted by: Submitted by lcossu
Views: 501
Words: 367
Pages: 2
Category: Business and Industry
Date Submitted: 04/10/2012 04:58 AM
Date
0
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Current Assets
Fixed Asset
Accounts
- Accumulated
Inventory
Equipment - Cost
receivable
depreciation
4,000 €
103,000 €
121,000 €
66,000 -€
22,000
€
€
€
Liabilities
Retained profit
€
-€
-€
58,000
12,000
75,800
€
-€
100,000
Accounts
payable
€
43,500
€
350,000
-€
4,000
€
53,000
€
96,000
66,000 -€
26,400
€
155,660
€
€
4,400
84,940
€
240,600
Balance Sheet as of 31/12/2012
Current Assets
Cash
€
Bank Account
€
Accounts
€
receivable
€
4,000
48,000
96,000
€
66,000
-€
201,000
Equity
Capital
Retained profit
53,000
€
€
Tax Payable
60,000
€
Accrued
Bank overdraft
expenses
€
1,500 €
9,000
€
12,000
€
1,800 €
74,000
-
325,000
345,000
500,000
-€
€
Loan
450,000
350,000
325,000
450,000
-€
5
6
7
8
9
Fixed Asset
Equipment Cost
- Accumulated
depreciation
Total Assets
Capital
-€
€
4
Inventory
Equity
Cash
26,400
€
Liabilities
Accounts
payable
39,600
Tax Payable
Loan
€
€
€
100,000
55,660
€
23,500.00
€
4,140.00
€
54,000.00
Accrued
€
3,300.00
expenses
240,600 Total Equity + Liabilities
€
-€
-€
-€
100,000 €
6,000
4,400
4,140
55,660
-€
€
23,500
6,000
€
54,000
-€
€
€
€
€
4,140
4,140
€
500,000
345,000
12,000
3,300 -€
48,000
Description
Opening balances as of 31/12/2011
Dividend distribution
Wages Payment is an expense. Not al the ammount is payed before the end of the year
Inventory are bought on credit
Revenues from Sales
Selling inventories generate cost of sales
The Account receivable are reduced by the amount of €500.000 that reduces the Bank overdraft
Debit in account payable are reduced by the amount of €345.000 that at the same time increases the Bank overdraft because of the cash payment
The annual instalment of the...