Act final

UN!"R#T$ %F Report on

“Final Account of Three Companies” Course Name: Fundamental of Accounting Course Code: FB-503

Prepared For

Prof. Md. Abu Taleb rofessor !epartment of Ban"ing and #nsurance $%BA rogram Facult& of Business 'tudies (ni)ersit& of !ha"a

Prepared By Md. Ahsanul Karim #!: 5*3+,053 !epartment of Ban"ing and #nsurance $%BA rogram Facult& of Business 'tudies (ni)ersit& of !ha"a

!ate of 'umission: .th /anuar& +0*,

Letter of Transmittal

1 | age

 /anuar& . +0*,

rof1 %d1 Au Tale rofessor !epartment of Ban"ing and #nsurance $%BA rogram Facult& of Business 'tudies (ni)ersit& of !ha"a

'u2ect: 'umission report on “Final Account of Three Companies”

!ear 'ir ith due respect it is m& pleasure to present the term paper entitled (Final

Account of Three Companies)1 hile preparing the report # ha)e tried m& le)el est to focus closel& on the topic and present all the data that is re4uired for the assignment1  To prepare this term paper # ha)e gi)en the est eort to accumulate needed information1 # 6ill e a)ailale to ans6er an& 4uestion for clari7cation1 Than" &ou for &our sincere support1

'incerel& 8ours %d1 Ahsanul 9arim #!: 5*3+,053

* | age

A+,no-ledement

First of all # 6ould li"e to than" the Almight& Allah for gi)ing me the strength and the aptitude to complete this report 6ithin due time1 # am deepl& indeted to m&

course instructor rof1 %d1 Au Tale for

assigning me such an interesting topic named  Final A++ount of 

Three /ompanies 1

# also e;press the depth of m&

appreciation to m& honorale course

teacher

and guidelines

for

his

suggestions

completing this report1

0 | age

6hich helped me in

Table of /ontents Ac"no6ledgement1111111111111111111111111111111111111111111111111111111111111111111113 *1* Trial Balance of A1 9 Compan& 0

urchase @eturn  Allo6ance

**,0

Allo6ance for !outful Accounts

*3>0

Freight in

300

Ad)ertising $;pense

,>00

'elling $;pense

,.,+0

'upplies

,+00

Dce $;pense

*0>0

#nterest $;pense ge 3 |  a!outful Accounts $;pense

+,0 =.>0  Total

3678777

3678777

Additional !ata: *1 The uilding is to e depreciated annuall& at the rate of *0 percent on cost1 +1 The allo6ance for doutful account is to e increased to t"1 30001 31 #nterest on long term in)estment is earned ut not &et een recei)ed amounting to t"1 +,01 ,1 #nterest e;pense of t"1 ,>0 has not &et een paid1 51 'elling e;penses of t"1 3>,01 remains unpaid1 1 Cost of merchandise in)entor& on !ecemer 3* +0*+ estimated at t"1 .0=+01 =1 'upplies consumed during the &ear amounting to t"1 31,+01 >1 #nsurance e;pense still un-e;pired amounting to t"1=+01

1.* n+ome #tatement of A. K /ompany 2td. A.K /ompany 2td #ncome 'tatement  8ear $nded !ecemer 3* +0*+ Parti+ulars 'ales @e)enue

T,

T, ->=0

Net 'ales @e)enue

+3=+,0

Cost of Eoods 'old:

9 | age

 

+,000

0

!outful $;pense

.00

!epreciation $;pense

=+00

'upplies $;pense

3,+0

 Total perating $;pense

.50>0

#ncome from peration

+=*,0

ther #ncome  $;pense: #nterest @e)enue

.00

0

Note a&ale @etained $arnings

T,

,,00 0 *500 0 *,0+

T,  

0 #n)entor&

Allo6ance for !outful Accounts

.0=+0

#nterest @ecei)ale

+,0

repaid #nsurance

=+0

 Total Current Asset

#nterest a&ale 'elling a&ale *.*  Total Current 0 ,0 hang aout due1 T"1 .0=+01is estimated as ending in)entor&1 $nthusiastic supplies during the &ear amounting to t"1 3,+01 (n-e;pired insurance amounting to t"1=+01 #nterest on long term in)estment is earned ut not &et een

recei)ed amounting to t"1 +,01 1 #nterest e;pense of t"1 ,>0 has not &et een paid1 =1 The uilding is to e depreciated annuall& at the rate of *0 percent on cost1 >1 The allo6ance for doutful account is to e increased to t"1 30001

0.* n+ome #tatement of R < T /orporation R < T /orporation #ncome 'tatement  8ear $nded !ecemer 3* +0*+ Parti+ulars 13 |  a g e

T,

T,

T,

 

'ales @e)enue

+>,000

0

!outful $;pense

.00

!epreciation $;pense

=+00

'upplies $;pense

3,+0

 Total perating $;pense

.50>0

#ncome from peration

3*,0

ther #ncome  $;pense: #nterest @e)enue

.00

0 .0=+ 0

#n)entor& #nterest @ecei)ale

+,0

repaid #nsurance

=+0

 Total Current Asset

@etained $arnings Allo6ance for !outful Accounts #nterest a&ale 'elling a&ale *>,,  Total Current 0