This is the opening position for the start of the cash flow Electric Bike Store Pty Ltd
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This is the opening position for the start of the cash flow
Electric Bike Store Pty Ltd | |||
Balance Sheet as at 30th September 2023 | |||
ASSETS | |||
Current Assets | |||
Cash at Bank | $29,350.00 | ||
Accounts Receivable | $28,190.00 | ||
Inventory | $11,000.00 | ||
Prepaid Insurance | $1,750.00 | ||
Stationery Supplies | $450.00 | ||
Total Current Assets | $70,740.00 | ||
Non-current Assets | |||
Computers | $6,000.00 | ||
Accumulated Depreciation - Office Computers | ($1,500.00) | $4,500.00 | |
Warehouse Equipment | $21,000.00 | ||
Accumulated Depreciation - Warehouse Equip. | ($11,400.00) | $9,600.00 | |
Total Non-current Assets | $14,100.00 | ||
TOTAL ASSETS | $84,840.00 | ||
LIABILITIES | |||
Current Liabilities | |||
Accounts Payable | $21,200.00 | ||
Wages Payable | $1,024.00 | ||
Telecommunication payable | $350.00 | ||
Total Current Liabilities | $22,574.00 | ||
Non-current Liabilities | |||
TOTAL LIABILITIES | $22,574.00 | ||
NET ASSETS | $62,266.00 | ||
OWNER'S EQUITY | |||
Share Capital | $60,000.00 | ||
Retained Earnings | $2,266.00 | ||
TOTAL EQUITY | $62,266.00 |
Electric Bike Store Pty Ltd Income Statement For the two months ended 30 November 2023 | ||
INCOME | ||
Sales - | 91,683.00 | |
TOTAL INCOME | 91,683.00 | |
COST OF SALES | ||
Cost of Goods Sold | 54,856.00 | |
TOTAL COST OF SALES | 54,856.00 | |
GROSS PROFIT | 36,827.00 | |
EXPENSES | ||
Wages Expense | 23,888.00 | |
Rent Expense | 3,600.00 | |
Mobile Phone Expenses | 350.00 | |
Electricity expense | 0.00 | |
Insurance Expense | 700.00 | |
Advertising Expense | 0.00 | |
Vehicle Expense | 225.00 | |
Cleaning Expense | 0.00 | |
Stationery Expense | 75.00 | |
Utilities Expense | 0.00 | |
Depreciation Expense | 800.00 | |
Loss on the sale of assets | 300.00 | |
Interest Expense | 75.00 | |
TOTAL EXPENSES | 30,013.00 | |
NET PROFIT/(LOSS) | 6,814.00 |
Electric Bike Store Pty Ltd | |||
Balance Sheet | |||
as at 30th November 2023 | |||
ASSETS | |||
Current Assets | |||
Cash at Bank | $114,367.00 | ||
Accounts Receivable | $0.00 | ||
Inventory | $1,840.00 | ||
Prepaid Rent | $0.00 | ||
Prepaid Insurance | $1,050.00 | ||
Stationery Supplies | $375.00 | ||
Total Current Assets | $117,632.00 | ||
Non-current Assets | |||
Computers | $6,000.00 | ||
Accumulated Dep'n - Office Computers | ($1,900.00) | $4,100.00 | |
Forklift | $11,400.00 | ||
Accumulated depreciation Forklift | ($100.00) | $11,300.00 | |
Total Non-current Assets | $15,400.00 | ||
TOTAL ASSETS | $133,032.00 | ||
LIABILITIES | |||
Current Liabilities | |||
Accounts Payable | $25,000.00 | ||
Wages Payable | $1,152.00 | ||
Mobile Phone Payable | $0.00 | ||
Prepaid Revenue | $23,300.00 | ||
Total Current Liabilities | $49,452.00 | ||
Non-current Liabilities | |||
Loan - ABC Bank | $14,500.00 | ||
TOTAL LIABILITIES | $63,952.00 | ||
NET ASSETS | $69,080.00 | ||
OWNER'S EQUITY | |||
Share Capital | $60,000.00 | ||
Retained Earnings | $9,080.00 | ||
TOTAL EQUITY | $69,080.00 |
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
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