Lira Trading Company Limited
Lira Trading Company Limited
Lira Trading Company Limited
1,568 1,199
57 116
1,411 1,083
LESSS EXPENSE:
Depreciation 44 32
Interest on mortgage 8 10
General expense 72 61
Director fee 34 24
NET PROFIT: 82 58
APPROPRATION:
Dividend payable 30 20
58 40
BALANCE SHEET
FIXED ASSETS(less depreciation) xxx xxx xxx
Motor vehicle 40 40
CURRENT ASSSETS
Work in progress 67 46
Bank cash 20 30
287 226
CURRENT LIABILITIES
Creditors 45 60
Bank overdraft 52 26
Dividend payable 30 20
Taxation 18 12
Capital reserved 23 -
General reserves 60 50
80 100
505 368
ACCOUNTING POLICIES:
Basis of accounting: - the account is prepared under the historical cost convention base on the
statement of accounting standard no: 1 disclosure of account.