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Model Demonstration Farm

Owners Equity
Assets = Liabilities + REV/EXP + Contributed Capital
2100000 Cash 2100000 Capital

-1000000 Cash
1000000 Equipments

Opening Balances Sheet (1/4/2001)


Assets
Cash 1100000
Equipments 1000000
Total 2100000
Liabilities + Owners Equity
Liabilities 0
Owners's Equity 2100000
Total 2100000

Transactions for the month of April


Owners Equity
Assets = Liabilities + REV/EXP + Contributed Capital
300000 Inventory 300000 Acc Payables

800000 Cash 1000000 Revenues


200000 Acc. Receivables

-100000 Cash -100000 Wages


150000 Salary Payable -150000 Salary

50000 Electricity Payable -50000 Electricity


-250000 Inventory -250000 Sales Expenses

-5000 Cash -5000 Rent


445000

Income Statement Cash Balance


Revenues 1000000 Revenues 800000
Wages -100000 Wages -100000
Salary -150000 Rent -5000
Electricity -50000 Cash Inflows 695000
Sales Expenses -250000 Opn. Balance 1100000
Rent -5000 End. Balance 1795000
Profit 445000

Balances Sheet as on 30/4/2001


Assets
Cash 1795000
Equipments 1000000
Inventory 50000
Acc. Receivables 200000
Total 3045000
Liabilities + Owners Equity
Liabilities
Acc. Payables 300000
Salary Payable 150000
Electricity Payable 50000
Owners's Equity
Capital 2100000
Reserves and Surplus 445000
Total 3045000