KARDAN INSTITUTE OF HIGHER EDUCATION Trial Balance For The period Ended 31 st Dec,2010 Trial BalanceAdjustmentsAdjusted Trial balance DescriptionDrCrDrCrDrCr Cash 15,000 A/R 10,000 A/P 15,000 Prepaid Rent 15,00012,0003,000 Machinery 50,000 Sales 45,000 Salaries 15,000 Capital Rent Exp 12,000 Dep Exp 2,000 Acc. Dep 2,000 Adjustments are prepared at the end of year. 1. Prepaid rent is for 15 months. Paid on jan1, Machinery useful life is 24 years and its residual value is 2000.

KARDAN INSTITUTE OF HIGHER EDUCATION Un Adjusted Trial Balance AdjustmentsAdjusted trial Balance DESCRIPTIONDRCRDRCRDRCR CASH20,000 Prepaid Rent30,000 Prepaid Salaries 12,000 Inventory 7000 Machinery60,000 Account payable 28,000 Capital 42,000 Advertisement Revenue 22,000 Sales 40,000 Rent expenses 3000 TOTAL1,32,000 Trial Balance of ABC & Co For The Period Ended Dec,2010

KARDAN INSTITUTE OF HIGHER EDUCATION Un Adjusted Trial Balance AdjustmentsAdjusted trial Balance DESCRIPTIONDRCRDRCRDRCR CASH20,000 Prepaid Rent30,00015,000 Prepaid Salaries 12,000 6,000 Inventory 7000 Machinery60,000 Acc.Dep 4,000 Account payable 28,000 Capital 42,000 Advertisement Revenue 22,000 Sales 40,000 Rent expenses ,000 Salaries Expense 6,000 Depreciation Exp 4,000 TOTAL1,32,000 Trial Balance of ABC & Co For The Period Ended Dec,2010

OTHER RELEVANT INFORMATION KARDAN INSTITUTE OF HIGHER EDUCATION 1)Prepaid rent is for 2-years and made on january1, ) Prepaid salaries is for one year, paid on 1 st July )Machinery useful life is 15-years.

KARDAN INSTITUTE OF HIGHER EDUCATION DESCRIPTIONDRCR Cash55,000 A/R40,000 A/P20,000 Pre-paid rent18,000 Pre-paid Salaries12,000 Un-earned Advertisement revenue50,000 Building90,000 Office supplies15,000 Capital100,000 Advertisement Revenue60,000 TOTAL2,30, At the end of December 12,000 of off.supplies are used. 2- Prepaid rent is for 18 months, paid on 1 st Jan Prepaid salaries are for 6 months, paid on 1 st October to employees. Trial Balance For the Period Ended 31 ST Dec.2010

Description DR ($) CR ($) Cash30,000 Salaries15,000 Office supplies10,000 Prepaid Insurance18,000 Prepaid Salaries9,000 Building74,000 Land100,000 Car10,000 Unearned Advertisement Revenues48,000 Notes Payable60,000 A/P20,000 Capital138,000 TOTAL266,000 Trial Balance Of ABC & Co For the Period Ended 31.Dec 2010

ADJUSTMENT REQUIRED AT YEAR END 31,DEC.2010 KARDAN INSTITUTE OF HIGHER EDUCATION 1)Prepaid salaries is for 3 months paid on 1 st November )Prepaid insurance is for one year paid on 1 st April )Building useful life is 35 years and its residual value is $ 4000.Building is acquired in January )Unearned Advertisement revenue is received on 31 st March 2010 for 1 year. 5)Office supplies amount $7000 is consumed.

DESCRIPTIONDRCR Cash20,000 A/R15,000 Office Supplies30,000 Furniture50,000 Prepaid Rent20,000 Rent Expenses5000 Unearned Salaries Revenue25,000 Salaries Revenue10,000 Capital105,000 TOTAL140,000 TRIAL BALANCE FOR YEAR ENDED DEC 31,2010

Prepared adjusted Trial Balance at year ended 31 st Dec ) Closing balance of Office supplies is $ ) Useful life of furniture is 24 years and its residual value is $ ) Prepaid rent is for one year paid on 1 st July ) Earned $ 10,000 Salaries Revenue out of Un- earned revenue. Prepared By: Kamran Khan