0,40O

Problem: 32
The trial balance for Mahmud company at March 31, 2015
arc as follows:
Mahmud Company
Trial Balance
March 31, 2015
Accounts title Debit Tk. Credit Tk.
Cash
L.14.000
Accounts receivable 56,200
Supplies 10.500
Prepaid insurance 24,000
Equipment 3,00.000
Notes payable
I.00,000
Accounts payah'e 1,23.500
Mahmud's caj ital 2.00.000
Mahmud's drawings 6,000
Service revenue I.36.200
Salaries expenses 22.000
Travel expenses 13,000
Rent expenses 12,000
Miscellaneous expenses 2.000
5,59.700 5.59,700
Other data:
1. Supplies on hand total Tk. 6,800
2. Depreciation is Tk. 10,000 per quarter
3 Interest accured on 6 month note payable issued January 1, Tk. 3,000.
4 Insurance expires at the rate of Tk. 2,000 per month.
5. Service provided but unbilled at March 31, total Tk. 8.300.
Instructions: Prepare an income statement and owner's equity statement for the quarter and a
clssified balance sheet at March 31, 2015.
Solution: 32
Mahmud Company
Income Statement
For the quarter ended 31 March, 2015
Tk. Tk. Tk.
Revenues:
Service revenue 1,36.200
Add: Unrecorded service revenue 144.500
8.300
Less: Expenses:
Salaries expensesS 22,000
Travel expenses 13.000
 Financial Statements 9.55
Rent expenses 12.000
Miscellaneous epenses 2.000
Insurance expenses (2,000 x 3)
6,000
Supplies cvpenscs(0,500 - 6,800) 3,700
Depreciation cxpenscs
10,000
Interest cpensc 3000 71700
Net Income
72,800|
Mahmud Company
Owner's Equity Statement
For the quarter ended 31 March, 2014
Tk.
Capital
Add: nct income 2.00,000
72.800
2.72,800
Less: Drawings 6,000
Owner's equity on 31.03.2014 66.800
Mahmud Company
Balance Sheet
As at 31 March, 2014
Tk. Tk. Tk.
Assets:
Current Assets:
Cash 1.14,000
Accounts receivable 56.200
Add: Unrecorded 8,300 64500
Supplies t800
Prepaid insurance (24,000-6,000) 18 000 2,03.300
Fixed Assets:
Equipment 3,00,000
Less: Accumulated depreciation 10,000 2.90,000
Total A ssets 4.93.300
Liabilities and Owner's Equity:
Current Liabilities:
Accounts payable 1,23,500
Interest payable 3.000 1.26,500
I,00,000
Long term liabilities: Notes payable
Owner's Equity: 2.66.800
Ending capital 4.93.30X0
Total Liablities and Owner's Equity
62/a
iplesof
Problem: 33
December 31.2008 in given below
The Trial balance of Russel Printing Service for
Trial balance
Deeember 31, 2008
Accounts title L.F Debit Tk.Credit Tk.|
Cash in hand 17,000
60,000
Cash at Bank
Accounts receivable 75,000
60,000
Notes receivable
 Principles of Accountings
INtat eNeuscS 20,000
13,000
i e supies expenses 5.00,000
Bulding 50,000
Arumulated depreciation Building 1,50,000
Fquipment 45,000
Accounts payable 37,000
Notes payable 6.00,000
Capital Russel
30,000
Drawings - Russel 2.50,000
Service revenue 36,000
Advertising expenses 31.000
Reparing expenses 13.500
Telephone, Fax etc. 23.500
Unearned Service revenue
10.05.500 |0,05.500
Additional data:
1. Abill for Telephone unpaid for the year Tk. 2,00.
2,500.
2. Prepaid insurance at the year end Tk.
3. Actual office supplies expenses Tk. l0,000.
4. Salaries unpaid for 2008 Tk. 3,500.
Required:
ended December 31. 2008.
An income statement for the year
2. A statement of owner's equity statement for 2008
A classified balance sheet as at December 31,
2008.
3.
Solution: 33
Russel Printing Service
Income Statemnent
For the year ended December 31, 2008
Tk. Tk. Tk.
Revenue: 2,50,000
Service revenue
Operating Expenses:
20,000
Insurance expenses 17,500
Less: Prepaid 2,500
Office supplies expenses 10,000
Advertisement expenses 36,000
Repairing expenses 31,000
Telephone, Fax etc 13,500
Add: unpaid 2,000 15,500 Principles
ofAccounting
Salaries expenses 3,500
Total Operating expenses (1.13,500)
Net Income I,36,500
Russel Printing Service
Owner's Equity Statement
For the year ended December 31, 2008
Tk.
Capital Russel at January 01, 2008 6,00,000
Add: Net Income 1,36,500
7,36,500
Less: Drawings Russel 30.000
Capital Russel at December 31.12,2008 7.06,500
 Financial Statements 9- 57
Russel Printing Service
Balance Sheet
Assets:
As on December 31, 2008
Current Assets: Tk. Tk. Tk.
Cash in hand
Cash at Bank 17,000
Accounts receivable 60,000
Notes receivable 75,000
Prepaid Insurance 60,000
Office supplies 2,500
3,000
Total current assets
Property, Plant & Equipment: 2.17,500
Building S,00,000
Less: Accumulated depreciation
S0,000 4.50,000
Equipment 1,50,000
Total Property, Plant &
Total Assets
Equipment 6,00,000
Current liabilities: 8,17,500
Accounts payable 45,000
Notes payable
37,000
Unearmed service revenue 23,500
Telephone bill payable 2,000
Salaries payable
3.500
.Total liabilities
Owner's Equity: 1,11,000
Capital Russel on 31.12.2008
7,06.500
Total liabilities and owner's equity
8.17,500
Problem: 34
The following are the Trial balance and additional information of
ended December 31, 2008.
Aysha Consulting for the year
Aysha Consulting
Trial Balance
December 31, 2008
Accounts title L.F Debit Tk. Credit Tk.
Capital 7,40,000
Service revenue 3,70,000
Rent revenue 96,000
Accounts payable 37,500
Unearned service revenue 1,12,000
Accumulated depreciation - Building 60,000
Accumulated depreciation - Equipment 30,000
Accumulated depreciation - Furniture 15,000
Cash in hand 47,500
Cash at Bank 1,50,500
Accounts receivable 80,000
|Supplies I1,000
 Pnonies Aouoms

10000
8000
41500

140
4dditial data:
Sugpiies o hund Tk 150

Lnere ned Tk 80L00

Suns cses pe T .000yzble

Reqeired:
2

Balance stee s oe December 31. 20S

Solution: 4
Aysha Consulting
Income Statement
for the vear ended 31st December. 20os
Tk. Tk. Ik.
Revenues:
Sevceh 3.70.000
Adt Leed sevienee e e i
S0.000 50.000
Rent revee
96.000
Total revenue $46.000
Less: Expenses:
Suppies rperse.
Supplies 11.000
Less: Suppies on h2nd 1.500 9.500
insrznce expense 18.000
Szlaries expenses 72.500
Add Pzyzble l1500 $4.000
Advertising expenses 17.900
Utlites experse 24.500
Add AcTed
4,000 28.500
Depreciation on building 60.000
Depreciation on equipment 30.000
Depreciation on furniture 15.000 .62:900
Net income 2:83.100
Aysha Consulating
Balance Sheet
As on December 31. 2008
Assets:
Tk. Tk. Tk.
Current Assets:
Cash in hand 47.500
Cash at bank 1.50.500
Accounts receivable
S0,000
 Financial Statements 9- 59
Supplies 1.500|
Prepaid insurance (23.000 - I8,000) 5.000 2.84.500
Fixed Assets:
Building
7.00,000
Less: Accumulated depreciation (60,00X0+ 60,000) L.20,000 5,80,000
Equipment 2,10,000
Less: Accumulated depreciation
Furniture (30,000 + 30,000) 60.000 1.50,000
82,000
Less: Accumulated depreciation (15,000 + 15,000) 30,000 52.000 7,82.000
Total Assets 10.66.500
Liabilities & Owner's Equity:
Current liabilities:
Accounts payable
Unearned service 37.500
revenue (1,12,000 80,000) 32,000
Advertising expenses payable 4,000
Salaries expenses payable 11,500 85,000
Owner's Equity:
Capital 7,40,000
Add: Net income
2,83.100
10,23,100
Less: Drawings 41,600 9.81.500
Total liabilities & Owner's Equity 10.66.500
Workings:
(i) Salaries payable:
Salaries for the year (7,000 x 12) 84.000
Less: Paid 72,500
I1,500

Problem: 35
The following Trial balance of "Nahian Homeo Hall" was taken from the general ledger on
December 31, 2008.
Nahian Homeo Hall
Trial balance
December 31, 2008
Accounts title L.F Debit Tk. Credit Tk.
Capital 13,00,000
Withdrawals 70,000
Revenue from service
5.13,000
Salaries expenses 75,700
Advertising expenses 29,300
Traveling expenses S5,500
Utility expenses 19,500
Postage and Telegrams 16,000
Stationery expenses 17,900
Newspapers 7,300
Miscelleneous receipts 17,500
Notes payable 61,000
Accounts payable 75,500
9- 60 Principles of Accountings
Uneamed service revenue 17,900|
Cash in hand I,05,000
Notes receivable 47,800
Furniture 71,000
Accounts receivable 42,300)
Office Supplies 24,630
Office Equipment 35,000
Accumulated depreciation -office equipment 7,000
Prepaid Insurance 21,000
Air conditioner 75,000
Land and building 9,00,000
Cash at Bank 2.25,000
Medicine, B.T.Co. 23,970
Medical Equipments 1,30,000
19,91,900 19.91.900
Adjustments data:
I. Supplies on hand Tk. 4.630.
2. Salaries unpaid Tk.6,500.
3. Insurance unexpired Tk. 15,000.
4. Medicine used Tk. 15,500.
5 One half of the unearned service revenue has been earned during the year.
6. Depreciation on Air conditioner Machine Tk. 10,000, Medical Equipment Tk. 13.000.
7. Interest on note payable Tk. 6, 100.
Required:
a) Income Statement for the year ended 31, December 2008.
b) A Classified balance sheet as on December 31, 2008.
Solution: 35
Nahian Hemeo Hall
Income Statement
For the year ended December 31, 2008
Tk. Tk. Tk.
Income:
Revenue from service (5,13,000 + 8,950) 5,21,950
Miscellaneous receipts 17.500 5.39,45.
Less Expenses:
Salaries expenses 75,700
Add: Unpaid salaries 6.500 82.200
Advertising expenses 29,300
Stationery expenses 17,900
Newspaper 7,300
Travelling expenses 55,500
Postage and telegram 16,000
Utilities expenses 19,500
Office supplies expenses 20,000
Insurance expenses 6,000
Medicine B.T.Co. 15,500
Interest expenses 6,100
Depreciation expenses:
On Air condition machine 10,000
On Medical equipment 13,000 23.000 (2,98,3000)
Net Income 2,41,150|
 Financial Statements 9-61
Nahian Homeo Hall
Owner's Equity Statement
For the year ended December 31, 2008
Capital 13,00,000
Add: Net Income 2,41.150
15,41.150
Less: Drawings 70,000
Capital at the end of year 2008 14.71.150

Nahian Homeo Hall

Balance Sheet
As at December 31, 2008
Assets Tk. Tk. Tk.
Current Assets:
Cash in hand 1,05.000
Cash at Bank 2,25.000
Accounts receivable 42,300
Office supplies 4.630
Prepaid insurance 15,000
Notes receivable 47,800
Medicine B. T. Co. 8.470 4,48,200
Fixed Assets:
Furniture 7L.000
Office equipment 35,000
Less: accumulated depreciation 7,000 28,000
Air condition 75,000
Less: accumulated depreciation 10,000 65,000
Medical Equipments 1,30,000
Less: accumulated depreciation 13.000 1.17.000
Land and Building 9,00,000 I1,81.000
16,29,200
Liabilities and Owner's Equity:
Current Liabilities:
Accounts payable 75,500
Notes payable 61.000
Interest payable 6,100
Salaries payable 6,500
Unearned service revenue 8,950 1,58,050
Owner's equity 14,71,150
Total liabilities and owner's equity I6,29,200