Question

Please create a balance sheet,income statement, and cash flow statement for the calendar year for me to run a gas station business, and you may make up your own numbers, just dont copy someone elses from the internet.

Answer 1

America Gas Station
Income Statement
PARTICULARS		AMOUNT	AMOUNT
SALES			$ 8,452,110.00
COST OF GOODS SOLD
Opening Stock		$ 1,000,447.00
Purchases		$ 6,684,816.90
Freight Inwards		$       76,091.00
		$ 7,761,354.90
Less: Closing Stock		$ 1,187,996.00	$ 6,573,358.90
GROSS PROFIT			$ 1,878,751.10
SALES & ADMINISTRATIVE EXPENSES
Accounting charges		$       24,000.00
Advertisement Exp		$       19,000.00
Bank Charges		$       29,810.00
Bank Interest		$       37,825.00
Cleaning Expenses		$       36,276.00
Conveyance Expenses		$       56,289.00
Electricity expenses		$       45,029.00
Legal Expenses		$       12,000.00
Misc Expenses		$       39,801.00
Printing Expenses		$       24,500.00
Repairs and maintanance		$       32,510.00
Round Off		$                0.34
Salary and Wages		$    650,000.00
Sales Promotion Expenses		$       36,720.00
Shop Expenses		$       33,911.00
Tea and beverages		$       31,724.00
Telephone and Mobile Expenses		$       23,740.00
Travelling Expenses		$       55,263.00	$ 1,188,398.34
Net Profit/(loss) trf. To Capital Account			$    690,352.76

Balance Sheet
Assets
Current Assets
Cash	$       202,032.44
Accounts Receivable	$       201,546.00
Inventory	$   1,187,996.00
Supplies	$       212,776.00
Total Current Assets		$       1,804,350.44
Fixed Assets
Equipment (Pumps)	$         50,000.00
Land	$         40,000.00
Building	$         50,000.00
Total Fixed Assets		$           140,000.00
Other Assets
Intangible Assets	$         10,000.00
Total Other Assets		$             10,000.00
Total Assets		$       1,954,350.44
Liabilities
Current Liabilities
Accounts Payable	$         19,873.00
Accrued Expenses	$         80,000.00
Unearned Revenue	$         70,829.00
Total Current Liabilities		$           170,702.00
Long term Liabilities
Mortgages Payable	$       414,489.50
Bonds Payable	$       100,000.00
Total Long Term Liabilities		$           514,489.50
Owner's Equity
Common Stock	$       578,806.18
Retained Earnings	$       690,352.76
Total Owners Equity		$       1,269,158.94
Total liabilities and Owner's equity		$       1,954,350.44

America Gas Station
Cash Flow Statement
Cash Flows from Operating Activities
Net Income		$ 690,352.76
Adjustments to reconcile Net Income to:
Decrease in receivables	$    39,885.94
Increase in Inventory	$(187,549.00)
Decrease in accounts payable	$(139,461.63)
		$ (287,124.69)
Net Cash Flows from operating activities		$ 403,228.07
Cash Flows from Investing Activities
Net cash Flows from Investing activities		$                   -
Cash Flows from financing activities
Drawings	$(650,000.00)
Proceeds from Loan from Bank	$ 120,927.25
Net Cash Flows from Financing activities		$ (529,072.75)
Net Increase (decrease) in cash		$ (125,844.68)
Beginning cash balance		$ 327,877.12
Ending cash balance		$ 202,032.44