Problem-01:
The following are the adjusted trial balance of Dhaka Workshop at December 31, 2009 owned by
Nusrat Jahan Ritu.
Dhaka Workshop
Adjusted Trial Balance
December 31, 2009
Account Titles Amount -Tk.
Cash in Hand 32,620
Accounts Receivable 35,500
Salaries Expenses 51,250
Stores Supplies 37,800
Prepaid Insurance 12,000
Accounts Payable 40,000
Salary Payable 1,500
Plant and Machinery 350,000
Accumulated Depreciation-Plant and Machinery 3,500
Ritu, Capital 413,000
Ritu, Withdrawal 30,000
Service Revenue 102,500
Utilities Expense 3,330
Rent Expense 4,000
Depreciation Expense-Plant and Machinery 3,500
Miscellaneous Expenses 500
Instruction:
a. Prepare an Income Statement. (Single-step).
b. A Statement of Owner’s Equity; and
c. A Classified Balance Sheet. (Report Form).
Problem-02:
The following particulars are extracted from the books of Rahul Telecom relating to the
year ended December 31, 2009.
Rahul Telecom
Trial Balance
December 31, 2009
Account Titles Debit-Tk. Credit-Tk.
Cash 30,000
Accounts Receivable 16,500
Supplies 13,500
Prepaid Insurance 9,000
Office Equipment 30,000
Prepaid Advertising 6,000
Accumulated Depreciation-Office Equipment 3,000
Accounts Payable 4,500
Rahul’s Capital 54,000
Rahul’s Drawing 6,000
Service Revenue 105,000
Miscellaneous Expense 36,000
Rent Expense 13,500
Salaries Expense 6,000
Total 166,500 166,500
Additional information:
1. Telephone bill for December is unpaid Tk.1,950.
2. Unpaid salaries are Tk.600.
3. Unrecorded service Tk.10,500.
4. Depreciation expenses for the year on the office equipment is Tk.2,550.
5. Supplies on hand on December 31, 2009 Tk.9,000.
Required:
a. Prepare a single-step income statement.
b. An owner’s equity statement; and
c. A classified balance sheet in report form.