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Particulars
Depreciation on Building(347000/10)
Repair & Maintenance
Interest Expenses (245,000 @ 7%)
Exchange Difference
Particulars
Cash
Common stock $ 102,000
Loan $ 245,000
Building $ (347,000)
Rent $ 68,000
Repair $ (4,500)
Dividends $ (6,000)
Closing Balance $ 57,500
Balance Sheet
as on 31st December, 20XX
Particulars
ASSETS
Current Assets
Cash 57,500.00
Rent Receivable 13,600.00
71,100.00
Less : Current Liabilities
Interest Payable on Borrowings 17,150.00
TOTAL
Owner's Equity
Retained Earnings
Borrowings (Loan)
TOTAL
Notes:
1. Alternatively Fixed assets may be shown of $ 3,47,000 and correspondingly $ 34700 to be shown at the liability side.
2. Repair & Maintenance is of revenue nature, hence it shoule be shown in Income statement.
3. Interest is not paid upto 31st Dec. hence it is outstanding on date of closing. Hence it is shown as current liability.
TRIAL BALANCE Dr Cr
Fixed Assets 347000 2
Acc .Dep 34700 2
Cash 57,500 2.04
Rent receivable 13600 2.04
Interest Payable 17,150 2.04
Own Equity 102000 2
Borrowings 245000 2
Rent Income 81,600 2.08
Repair 4,500 2.05
Interest 17,150 2.04
Depriciation 34700 2
Dividends $ 6,000 2.04
480450 480450
Exchange Difference
Amount in § Conversion Rate Amount in $
81,600.00 169,728.00
56,350.00 116,830.00
25,250.00 52,898.00
- -
25,250.00 52,898.00
25,250.00 - 52,898.00
6,000.00 2.04 12,240.00
19,250.00 40,658.00
Amount in § Conversion Rate Amount in $
2.04 117,300.00
2.04 27,744.00
-
366,250.00 734,658.00 -
366,250.00 734,658.00
Dr Cr
694000 0
0 69400
117300 0
27744 0
0 34986
0 204000
0 490000
0 169728
9225 0
34986 0
69400 0
12240 0
964895 968114
Particulars
Depreciation on Building(354000/10)
Repair & Maintenance
Interest Expenses (250,000 @ 8%)
Exchange Difference
Particulars
Cash
Common stock $ 104,000
Loan $ 250,000
Building $ (354,000)
Rent $ 72,000
Repair $ (4,600)
Dividends $ (6,100)
Closing Balance $ 61,300
Balance Sheet
as on 31st December, 20XX
Particulars
ASSETS
Current Assets
Cash 61,300.00
Rent Receivable 14,400.00
75,700.00
Less : Current Liabilities
Interest Payable on Borrowings 20,000.00
TOTAL
Owner's Equity
Retained Earnings
Borrowings (Loan)
TOTAL
Notes:
1. Alternatively Fixed assets may be shown of $ 3,54,000 and correspondingly $ 35400 to be shown at the liability side.
2. Repair & Maintenance is of revenue nature, hence it shoule be shown in Income statement.
3. Interest is not paid upto 31st Dec. hence it is outstanding on date of closing. Hence it is shown as current liability.
TRIAL BALANCE Dr Cr
Fixed Assets 354000 2.1
Acc .Dep 35400 2.1
Cash 61,300 2.14
Rent receivable 14400 2.14
Interest Payable 20,000 2.14
Own Equity 104000 2.1
Borrowings 250000 2.1
Rent Income 86,400 2.18
Repair 4,600 2.15
Interest 20,000 2.14
Depriciation 35400 2.1
Dividends $ 6,100 2.14
495800 495800
Exchange Difference
Amount in § Conversion Rate Amount in $
86,400.00 188,352.00
60,000.00 130,440.00
26,400.00 57,912.00
- -
26,400.00 57,912.00
26,400.00 - 57,912.00
6,100.00 2.14 13,054.00
20,300.00 44,858.00
Amount in § Conversion Rate Amount in $
2.14 131,182.00
2.14 30,816.00
-
374,300.00 788,258.00 -
374,300.00 788,258.00
Dr Cr
743400 0
0 74340
131182 0
30816 0
0 42800
0 218400
0 525000
0 188352
9890 0
42800 0
74340 0
13054 0
1045482 1048892
Particulars Amount in §
Particulars Amount in §
Balance Sheet
as on 31st December, 2012
Particulars Amount in §
ASSETS
Current Assets
Cash 49,000.00
Rent Receivable 12,000.00
61,000.00
Less : Current Liabilities
Interest Payable on Borrowings 12,000.00 49,000.00
TOTAL 202,000.00
TOTAL 202,000.00
Notes:
1. Alternatively Fixed assets may be shown of $ 1,70,000 and correspondingly $ 17000 to be shown at the liability side.
2. Repair & Maintenance is of revenue nature, hence it shoule be shown in Income statement.
3. Interest is not paid upto 31st Dec., 2001 hence it is outstanding on date of closing. Hence it is shown as current liability
TRIAL BALANCE Dr Cr Dr
Fixed Assets 170000 2.4 408000
Dep 17000 2.4 0
Cash 49000 2.16 105840
Rent 12000 2.16 25920
Intee Payable 12000 2.16 0
Own Equity 50000 2.4 0
Borrowings 120000 2.4 0
Rent Income 72000 2.28 0
Repair 5000 2.22 11100
2.28 164,160.00
- -
164,160.00
2.40 40,800.00
2.22 11,100.00
2.16 25,920.00
8,340.00
86,160.00
78,000.00
-
78,000.00
- 78,000.00
2.16 12,960.00
65,040.00
Conversion Rate Amount in $
2.40 367,200.00
2.16 105,840.00
2.16 25,920.00
-
2.16 -25,920.00
473,040.00
2.40 120,000.00
- 65,040.00
2.40 288,000.00
473,040.00
Cr
0
40800
0
0
25920
120000
288000
164160
0
0
0
0
638880