Less Accumulated Depreciation
(12000)
14000
Premises
500000
529000
TOTAL ASSETS
$579130
CURRENT LIABILITIES
Accounts Payable
2350
Tax payable
1530
Final Dividend Payable
5300
9180
NON CURRENT LIABILITIES
Loan – Invest Bank
TOTAL LIABILITIES
150000
159180
EQUITY
Issued and paid up Capital
400000
Retained Earnings
19950
419950
TOTAL LIABILITIES & EQITY
$579130
2
Details of the inventory, accounts receivable and accounts payable are as follows:
SCHEDULE OF INVENTORY ON HAND AS AT 30 APRIL 2016
COD
E
DESCRIPTION
NUMBE
R ON
HAND
COST
PRICE
$
VALUE
$
SELLING
PRICE
$
I32
32gb Ipad
100
250
25000
500
IBL
Leather carry bag for
Ipad
50
10
500
20
ISC
Plastic cover for Ipad –
Smarties Style
300
2.00
600
4
$26100
SCHEDULE OF ACCOUNTS RECEIVABLE AS AT 30 APRIL 2016
DEBTOR
ADDRESS
AMOUNT
Bargain Warehouse
25 Sunshine Rd, Sunshine
2260
Style ISTORE
120 Chadstone Rd, Chadstone
1550
Dandenong Sell Anything
39 Main St, Dandenong
210
We Got It Supermarkets
20 Preston Rd, Preston
4210
$8230
SCHEDULE OF ACCOUNTS PAYABLE AS AT 30 APRIL 2016
CREDITOR
ADDRESS
AMOUN
T
I Import Pty Ltd
200 Pitt Street, Port Melbourne
1000
Leather Supplies
230 South Road, Bentleigh
750
We Got U Covered
60 Clayton Rd, Clayton
600
$2350
3
CHART OF ACCOUNTS
The following accounts are already opened for your use in the data file for iPAD
PARISH PTY LTD
.
ACCOUNT
TYPE
Enterprise Bank
Bank
Accounts Receivable
Accounts
Receivable
Inventory
Current Asset
Loan to Shareholders
Current Asset
Delivery van – Original Cost
Non Current Asset
Delivery van – Accumulated Depreciation
Non Current Asset –
contra
Office Equipment – Original Cost
Non Current Asset
Office Equipment – Accumulated Depreciation
Non Current Asset -
contra
Premises
Non Current Asset
Accounts Payable
Current Liability
Tax Payable
Current Liability
Final Dividend Payable
Current Liability
Loan- Invest Bank
Non Current Liability
Issued and Paid Up Capital
Equity
Retained earnings
Equity
Sales
Income
Cost of Goods Sold
COGS
Bad Debts
