Assets

Cash/Bank Pro-shop Liquor Fixtures

Transactions Inventory Inventory
1 Incorporation 100,000
2 Inventory for pro shop -16,340 16,340
3 Inventory for liquor -13,660 13,660
4 Inventory for fixtures -11,000 11,000
5 Inventory for Glass ware -4,000
6 Pro Shop Sales 53,700
7 Match fees 22,650
8 Instruction Fees 45,600
9 Liquor Sales 64,550
10 Other Revenue 3,050
11 Rent for pro shop and Lounge -18,000
12 Rent Prepaid -1,500
13 New Lounge fixtures -8,400 8,400
14 Pro shop goods for resale -26,650 26,650
15 Liquor for resale -14,400 14,400
16 Shop assistant wages -24,000
17 Wait Staff -27,500
18 Blair Salary -52,000
19 Additional/New Lounge fixtures 4,200
20 Additional Pro shop goods for resale 2,000
21 Chits Unutilised Chits
22 Depriciation Expense_Fixtures -2331
23 Depricitation_ Glassware
24 Instruction fee receivable
25 Match Fee Receivable
26 Cost of goods sold -27,110 -16,140
27 Income Tax 10625
Balances 72,100 17,880 11,920 21,269

Total Assets/Liabilities 142,269

Assets Liability Sharholders' Equity
Glassware A/c Prepaid Accounts Unearned Income Capital Revenue
Receivable Rent Payable Revenue Tax
Payable 100,000

4,000
53,700
22,650
45,600
64,550
3,050

1,500

4,200
2,000
650 -650

-2000
15000 15000
600 600

10625
2,000 15,600 1,500 6,200 650 10,625 100,000 204,500
arholders' Equity
Expenses

-18,000

-24,000
-27,500
-52,000

-2331
-2,000

-43,250

-169,081

141,619
 Income Statement

Revenue
Pro Shop Sales 53,700
Match fees 23,250
Instruction Fees 60,600
Liquor Sales 63,900
Other Revenue 3,050
Total Revenue 204,500

Cost of Good Sold

Pro shop -27,110
Liquor -16,140
-43,250
Operating Expenses
Rent for pro shop and Lounge -18,000
Shop assistant wages -24,000
Wait Staff -27,500
Blair Salary -52,000
Depriciation -4331
Total Operating Expenses -125,831

Net Profit before Taxes 35,419

Income Tax @ 30% 10625.7

Net Profit After Tax 24,793

 Balance Sheet
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Accounts Payable 6,200
Unearned Revenue 650
Income Tax Payable 10,625
Sharholders' Equity
Share Capital 100,000
Retained Earnings 24,793
Total Liabilities & Shareholders' Equity 142,268
ASSETS
Current Assets
Cash 72,100
Pro-shop Inventory 17,880
Liquor Inventory 11,920
A/c Receivable 15600
Prepaid Rent 1,500
Total Current Assets 119,000
Fixed Assets/Long Lived Assets
Fixtures 21,269
Glassware 2,000
Total Fixed Assets 23,269
Total Assets 142,269