LATIF KHAN, ARCHITECT

INCOME STATEMENT
FOR THE PERIOD ENDED MARCH 31, 2012

AMOUNT (INR)
Sales 207900
Add: Other Income 11900
Total Income 219800
Less: Expenses
Supplies 27545
Add: Supplies payable 4515 32060
Salaries 103992
Add: salaries payable 1750 105742
Rent 17080
Add: Rent payable 1680 18760
Miscellaneous expenses 12040
Add: Miscellaneous expenses Pay 175 12215
Depriciation 3500 3500
Dues paid to professionals 3500 3500
Bad debts written off 12180+ 3780 15960
Total expenses 191737 191737
Net income 28063

LATIF KHAN, ARCHITECT

BALANCE SHEET
AS ON MARCH 31, 2011

LIABILITY AMOUNT (INR)

Capital (balancing figure) 443240 443240

Current Liabilities

Accrued Salaries 1190

Accrued Supplies 5740
Accrued Rent 1400
Accrued Miscellaneous Expenses 560

Total Liabilities 452130

Current assets
Cash 11,200
Receivables =59500+ 12180 71680

Total Current Assets 82,880

NON CURRENT ASSETS
Fixed Assets
Furniture and Equipments 19,250
Long Term Investments
Shares and debentures held 350000
Total Non-Current Assets 369,250

Total Assets 452,130

LATIF KHAN, ARCHITECT

BALANCE SHEET
AS ON MARCH 31, 2012
LIABILITY AMOUNT (INR)

Capital 443240
Add: Retained Earnings 28,063
Less: Drawings 56,000
Proprietors Fund 415,303 415303

Current Liabilities
Outstanding Expenses 8,120 8120
Total Liabilities 423423

ASSETS
Current assets
Inventory 7,000 7000
Bank balance 4,753 4753
Debtors 32900+12180 45080
Less: bad debts written off 15960 29120
Total Current Assets 40873
NON CURRENT ASSETS
Fixed Assets
Furniture and Equipments 15,750
Long Term Investments
Shares in Capital Construction Ltd. 16,800
Shares and debentures held 350000
Total Non-Current Assets 382,550
Total Assets 423423 423423
Working Notes

CASH ACCOUNT
PARTICULAMOUNT PARTICULAMOUNT
To, Balanc 11,200 By cash tra2,57,600
To, Collect 1,75,000
To, Collecti 59,500
To, dividen 11,900
2,57,600 2,57,600

BANK ACCOUNT
PARTICULAMOUNT PARTICULAMOUNT
To, Cash 2,57,600 By Salarie 1,05,182
By Supplie 40,285
By Rent 18,480
By Professi 3,500
By Shares 16,800
By Drawing 56,000
By Miscell 12,600
By Balance 4,753
2,57,600 2,57,600

DEPRICIATION
Asset As On October 1, 2006 35,000
Less: Depreciation March 31, 2007 1750
Asset As On April 1, 2007 33250
Less: Depreciation March 31, 2008 3500
Asset As On April 1, 2008 29750
Less: Depreciation March 31, 2009 3500
Asset As On April 1, 2009 26250
Less: Depreciation March 31, 2010 3500
Asset As On April 1, 2010 22750
Less: Depreciation March 31, 2011 3500
Asset As On April 1, 2011 19250
Less: Depreciation March 31, 2012 3500
Asset As On March 31, 2012 15750