Mix-Up Mart

Post Closing Trial Balance

For The Month Ended October 2019
Accounts Debit
1 Cash 880000
2 Accounts Reciveable 20500
3 Inventory 500000
4 Fixtures and Fittings 50000
5 Accumulated Depriciation:Fixtures and fittings
6 Rent Payable
7 Accounts Payable
8 Wages Payables
9 Samiullah Khan:Capital
10 Total 1450500
9
Credit

5000
20000
10000
13000
1402500
1450500
 Journal Entries
Date Description Debit Credit
Nov,2019
1 Merchandising Inventory 3500
Accounts Payables: Coca Cola 3500

1 Cash 100
Sales 100
Cost of Merchandise Sold 80
Merchandising Inventory 80

1 Miscellanous Expenses 150

Cash 150

2 Merchandising Inventory 1500

Accounts Payables:Zeera Biscuit 1500

2 Merchandising Inventory 2700

Accounts Payables:Shezan Foods 2700

2 Merchandising Inventory 5000

Accounts Payables:Halib 5000

3 Merchandising Inventory 2500

Accounts Payables:Nestle 2500

3 Merchandising Inventory 6700

Accounts Payables:Bakeri Biscuits 1700
Accounts Payables:Walls Ice Cream 5000

4 Cash 1500
Sales 1500
Cost of Merchandise Sold 1400
Merchandising inventory 1400

4 Cash 2000
Sales 2000
Cost of Merchandise Sold 1500
Merchandising Inventory 1500
 5 Cash 530650
Hafiz Shahbaz:Capital 530650

6 Hafiz Shahbaz:Drawings 500

Merchandsing Inventory 500

7 Merchandising Invemtory 5000

Accounts Payables:Coca Cola 5000

8 Accounts payables:Halib 4000

Cash 4000

9 Hafiz Shahbaz:Drawings 2000

Cash 2000

10 Cash 5000
Sales 5000
Cost of Merchandise Sold 4000
Merchandising Inventory 4000

11 Accounts Payables:Bakeri Biscuits 1500

Cash 1500

12 Delievery Van 500000

Accounts Payables:Suzuki Bolan 500000

13 Insurrance Expense 15000

Cash 15000

13 Cash 2300
Sales 2300
Cost of Goods Sold 1900
Merchandising Inventory 1900

13 Electricity Bills 9000

Cash 9000

14 Cash 15000
Sales 15000
Cost of goods Sold 13000
Merchandising inventory 13000

15 Rent Expense 21000

Cash 21000
15 Cash 1700
Sales 1700
Cost of Merchandise Sold 1500
Merchandising Inventory 1500

15 Cash 3000
Accounts receivables:Pizza Studio 3000

16 Accounts Payables:Walls Ice Cream 1500

Cash 1500

16 Accounts Receivables:Amna Fitness 1300

Sales 1300
Cost of Merchandise Sold 1000
Merchandising inventory 1000

16 Accounts Receivables:Umar Estate 1300

Sales 1300
Cost of Merchandise Sold 1000
Merchandising Inventory 1000

17 Cash 3000
Accounts Receivables;Amna Fitness 3000

17 Cash 1000
Accounts Receivables:Umar Estate 1000

17 Accounts Payables:Bolan Motors 500000

Cash 500000

18 Merchandising Inventory 17000

Cash 17000

18 Miscellanous Expenses 2000

Cash 2000

19 Utility Expnses 900

Cash 900

19 Cash 500
Sales 500
Cost of Merchandise Sold 400
Merchandising Inventory 400

20 Cash 1200
 Sales 1200
Cost of Merchandise Sold 1000
Merchandising inventory 1000

21 Merchandising Inventory 10000

Accounts Payables:Coca Cola 10000

22 Merchandising Inventory 7500

Accounts payables:Halib 7500

23 Accounts payables:Halib 8000

Cash 8000

23 Cash 1300
Sales 1300
Cost of goods Sold 1000
Merchandising inventory 1000

24 Wages and Salaries 20000

Cash 20000

24 Cash 300
Accounts Receivables:Umar Estate 300

24 Cash 5000
Sales 5000
Cost of Goods Sold 4000
Merchandising Inventory 4000

25 Miscellanous Expenses 1500

Cash 1500

26 Accounts Payables:Nestle 2000

Cash 2000

26 Cash 406350
sales 406350
Cost of Goods Sold 187920
Merchandising inventory 187920

26 Merchandising inventory 1000

Accounts Payables:Nestle 1000

26 Accounts Payables:Zeera Biscuit 20

Merchandising Inventory 20
27 Rent Expense 45000
Cash 45000
 Purchases Journal
Merchandising
Date Accounts Payables Cr. P.R Amount Inventory Dr.
Nov,2019
1 Coca Cola 3500 3500
2 Zeera Biscuit 1500 1500
2 Shezan foods 2700 2700
2 Halib 5000 5000
3 Nestle 2500 2500
3 Bakeri Biscuits 1700 1700
7 Coca Cola 5000 5000
12 Bolan Motors 500000
21 Coca Cola 10000 10000
22 Halib 7500 7500
26 Nestle 1000 1000
30 Totals 540400 40400

Other
Cash Payments Journal Accounts Accounts Payable
Date Ck.Nos Accounts Debited P.R Dr. Dr.

November,2019
1 Miscellanous Expenses 150
8 Halib 4000
9 Hafiz Shahbaz:Drawings 2000
11 Bakeri Biscuits 1500
13 Insurrance Expense 15000
13 Electricity Bills 9000
16 Walls 1500
17 Bolan Motor 500000
18 Merchandising Inventory 17000
18 Miscellanous Expenses 2000
19 Utility Expenses 900
23 Coca Cola 8000
24 Wages and Salaries 20000
25 Miscellanous Expenses 1500
26 Nestle 2000
27 Rent Expense 45000
14 Rent Expense 21000
31 Totals 133550 517000
 Cash Receipts Journal
Date P.R
Other
Accounts Credited Accounts Accounts
Nov,2019 Cr. Recievable Cr.
1 Sales 100
4 Sales 3500
5 Capital 530650
10 Sales 5000
13 Sales 2300
14 sales 1500
15 Sales 1700
15 Pizza Studio 3000
17 Amna Fitness 3000
17 Umar Estates 1000
19 Sales 500
20 Sales 1200
23 Sales 1300
24 Umar Estates 300
24 Sales 5000
26 Sales 406350
31 proceeds from other sales 120000
Totals 1079100 7300
 Other
Accounts
Sales Journal
Acc. Rec.
Dr. P.R Amount Date Invoice Accounts P.R Dr.
Nov,2019 No Debited Sales Cr.

16 Amna Fitness 3500

16 Umer Estates 1300
31 Totals 4800

Delievery Van 500000

500000

Cash Cr.

150
4000
2000
1500
15000
9000
1500
500000
17000
2000
900
8000
2000
1500
2000
45000
21000
632550
Cash
Dr

100
3500
530650
5000
2300
1500
1700
3000
3000
1000
500
1200
1300
300
5000
406350
120000
1086400
 Cash Account No. 11
Date Item P.R Debit Credit Balance
Debit Credit
Nov.2019 Balance b/d 91000
31 1086400 632550 544850

Accouunt Recieveable Account No. 12

Date Item P.R Debit Credit Balance
Dr Cr
Nov.2019 Balance b/d 20500
31 4800 7300 18000

Accounts Payable Account No 21

Date Item P.R Debit Credit Balance
Dr Cr
Nov.2019 Balance b/d 10000 10000
31 SLP1 517000 540400 33400

Cost of Goods Sold Account No. 51

Date Item P.R Debit Credit Balance
Dr Cr
1 80
4, 2900
10 4000
11, 4700
16 4000
20 1400
23 1000
24 4000
26 187920
31 Balance c/d 210000

Sales Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
Credit Sales SJ 4800 4800
Cash Sales CP 425050 425050
429850
 Capital Account No 22
Date Item P.R Debit Credit Balance
Nov.2019 Balance b/d 1402500 1402500
5 Cash 530650 1933150
31 Drawings 2500 1930650

Drawings Account No 22
Date Item P.R Debit Credit Balance
6 Merchandising Inventory 500 500
9 cash 2000 2500

Miscellanous Expenses Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
Cash 150 150
18 Cash 2000 2150
25 Cash 1500 3650
 Merchandising Inventory Account No. 51
Date Item P.R Debit Credit Balance
Dr Cr
1 Balance b/d 500000
Nov.2019 3500
80
2 9200
3 9200
5000
3 9200
4 3400
7 5000
10 4000
11 4700
16 4000
18 cash 17000
20 1400
21 Accounts Payable:Coc 10000
22 Accounts Payable:Hal 7500
23 1000
24 4000
26 325080
26 Nestle 1000
26 Zeera Biscuit 20
539350
 A/c Payables Subsidiary Ledger
Bolan Motor Account No. 11
Date Item P.R Debit Credit Balance
b Debit Credit
500000 500000 - -
Coca Cola Account No. 11
Date Item P.R Debit Credit Balance
Debit Credit
3500 3500
5000 8500
10000 18500
Balance c/d 8000 10500

Shezan foods Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
2700 2700

Nestle Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
2500 2500
1000 3500
Balance c/d 2000 1500

Walls Ice Cream Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
Balance b/d 10000 10000
5000 15000
Balance c/d 1500 13500

Zeera Bisccuit Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
 1500 1500
20 1480

Halib Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
5000 5000
4000 1000

Bakeri Biscuits Account No. 11

Date Item P.R Debit Credit Balance
Debit Credit
1700 1700
1500 200
 A/c Receivables Subsidiary Ledger
Pizza Studio Account No. 11
Date Item P.R Debit Credit Balance
Debit
Balance b/d 20500 20500
3000 17500

Amna Fitness Studio Account No. 11

Date Item P.R Debit Credit Balance
Debit
3500
3000 500

Umer Estates Account No. 11

Date Item P.R Debit Credit Balance
Debit
1300
1000
300 -
ary Ledger
Account No. 11
Balance
Credit

Account No. 11
Balance
Credit

Account No. 11
Balance
Credit

-
 Mix-Up Mart
Unadjusted Trial Balance
For The Month Ended November 2019
Accounts Debit
1 Cash 1000000
2 Accounts Reciveable 18000
3 Inventory 539350
4 Fixtures and Fittings 50000
5 Accumulated Depriciation:Fixtures and fittings
6 Delievery Van 500000
7 Rent Payable
8 Accounts Payable
9 Rent Expense
10 Sales
11 Hafiz Shahbaz:Drawings 2500
12 Wages and Salaries 20000
13 Insurrance Expense 15000
14 Electricity Expense 9000
15 Utility Expenses 900
16 Hafiz Shahbaz:Capital Opening
17 Totals 2154750
19
Credit

5000

20000
33400
66000
429850

1600500
2154750
 Adjusting Entires
Date
Nov,2019
31
 Adjusting Entires
Description P.R Debit Credit

Depriciation Expense:Fixtures and Fittings 500

Depriciation Expense:Delievery Van 1500
Accumulated depriciation:Fictures and Fittings 500
Accumulated depriciation:Delievery van 1500
 Mix-Up Mart
Adjusted Trial Balance
For The Month Ended November 2019
Accounts Debit
1 Cash 1000000
2 Accounts Reciveable 18000
3 Inventory 539350
4 Fixtures and Fittings 50000
5 Accumulated Depriciation:Fixtures and fittings
6 Delievery Van 500000
7 Accumulated Depriciation:Delievery Van
8 Rent Payable
9 Accounts Payable
10 Rent Expense
11 Sales
12 Hafiz Shahbaz:Drawings 2500
13 Depriciation Expense:Fixtures and Fittings 500
14 Depriciation Expense:Delievery Van 1500
15 Wages and Salaries 20000
16 Insurrance Expense 15000
17 Electricity Expense 9000
18 Utility Expenses 900
19 Hafiz Shahbaz:Capital Opening
20 Totals 2156750
19
Credit

5500

1500
20000
33400
66000
429850

1600500
2156750
 Mix-Up Mart
Income Statement
For The Month Ending November 2019
Sales during November 429850
Less Cost Of Goods Sold: -210000
Gross Profit 219850
Less Expenses:
Insurrance Expense 15000
Electricity Expense 9000
Utility Expense 900
Wages and Salaries 20000
Rent Expense 66000
Miscellanous Expenses 3650
Depriciation:Fixtures and Fittings 500
Depriciation:Delievery Van 1500
Total Expenses Of November 116550
Net Income For the Month 103300
 Mix-Up Mark
Statement of Owners Equity
For the month ended November 30,2019
Rs.
Owner's Capital,November 1st 2019 1402500
Additional Capital 530650
Net Income 103300
Less: Hafiz Shahbaz:Drawings -2500
Increase In Owner's Equity 631450
Closing Capital 2033950
 Mix-Up Mart
Balance Sheet
As at November 30, 2019
Assets
Current assets:
Cash 1000000
Accounts receivable 18000
Merchandise inventory 539350
Total current assets
Property, plant, and equipment:
Fixtures and Fittings 50000
Accumulated Depriciation:Fixtures and Fittings -5500
Net Book Value 44500
Delievery Van 500000
Accumulated Depriciation:Delievery Van -1500
Net Book Value 498500
Total property, plant, and equipment
Total assets
Liabilities
Current liabilities:
Accounts payable 33400
Wages Payables 13000
Rent Payable 20000
Total current liabilities 66400
Total liabilities
Owner's Equity
Hafiz Shahbaz:Capital
Total liabilities and owner's equity
1557350

543000
2100350

66400

2033950
2100350
 Closing Entries
Date Description P.R Debit
Nov,2019
31 Sales 429850
Income Summary

31 Income Summary 326550

Utility Expenses
Wages Expense
Rent Expense
Electricity Expense
Miscellanous Expense
Insurance Expense
Depreciation Expense:Fixtures and Fittings
Depriciation Expense:Delievery Van
Cost Of merchandise Sold
31 Income Summary 103300
Owner Capital

31 Owner's Capital 2500

Owner Drawings
862200
Credit

429850

900
20000
66000
9000
3650
15000
500
1500
210000

103300

2500
862200
 Mix-Up Mart
Post Closing Trial Balance
For The Month Ended November 2019
Accounts Debit
1 Cash 1000000
2 Accounts Reciveable 18000
3 Inventory 539350
4 Fixtures and Fittings 50000
5 Accumulated Depriciation:Fixtures and fittings
6 Delievery Van 500000
7 Accumulated Depriciation:Delievery Van
8 Rent Payable
9 Accounts Payable
10 Wages Payables
11 Hafiz Shahbaz:Capital
12 Total 2107350
19
Credit

5500

1500
20000
33400
13000
2033950
2107350