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    Farhan 2023

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    addadranz3r
    1. The document contains Muhammad Farhan's cash reconciliation and wealth position statements as of June 30, 2023 for tax year 2023. 2. It shows receipts of Rs. 1,059,500, payments of Rs. 2,869,500 including personal expenses of Rs. 380,000 and purchase of a car for Rs. 2,000,000, leaving a balance of Rs. 439,500. 3. The wealth position statement shows total assets of Rs. 6,105,500, an increase of Rs. 1,159,000 from 2022, with sources of gain from sale of animals of Rs. 439,500 and business income of Rs. 1,099,500

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    Farhan 2023

    Uploaded by

    addadranz3r
    9 views2 pages
    1. The document contains Muhammad Farhan's cash reconciliation and wealth position statements as of June 30, 2023 for tax year 2023. 2. It shows receipts of Rs. 1,059,500, payments of Rs. 2,869,500 including personal expenses of Rs. 380,000 and purchase of a car for Rs. 2,000,000, leaving a balance of Rs. 439,500. 3. The wealth position statement shows total assets of Rs. 6,105,500, an increase of Rs. 1,159,000 from 2022, with sources of gain from sale of animals of Rs. 439,500 and business income of Rs. 1,099,500

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    1. The document contains Muhammad Farhan's cash reconciliation and wealth position statements as of June 30, 2023 for tax year 2023. 2. It shows receipts of Rs. 1,059,500, payments of Rs. 2,869,500 including personal expenses of Rs. 380,000 and purchase of a car for Rs. 2,000,000, leaving a balance of Rs. 439,500. 3. The wealth position statement shows total assets of Rs. 6,105,500, an increase of Rs. 1,159,000 from 2022, with sources of gain from sale of animals of Rs. 439,500 and business income of Rs. 1,099,500

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    9 views2 pages

    Farhan 2023

    Uploaded by

    addadranz3r
    1. The document contains Muhammad Farhan's cash reconciliation and wealth position statements as of June 30, 2023 for tax year 2023. 2. It shows receipts of Rs. 1,059,500, payments of Rs. 2,869,500 including personal expenses of Rs. 380,000 and purchase of a car for Rs. 2,000,000, leaving a balance of Rs. 439,500. 3. The wealth position statement shows total assets of Rs. 6,105,500, an increase of Rs. 1,159,000 from 2022, with sources of gain from sale of animals of Rs. 439,500 and business income of Rs. 1,099,500

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    MUHAMMAD FARHAN

    CASH RECONCILIATION
    AS ON JUNE 30, 2023
    TAX YEAR 2023

    Receipts Rupees Payments Rupees


    Opening Balance Personal Expenses 380,000
    Cash in Hand/Prize Bonds/Cash at Bank 1,059,500 Purchase of Car 2,000,000
    Cash In Hand 10,500
    Drawing 1,099,500
    Animals Sold 700,000

    Balance As On June 30, 2023


    Cash in Hand/Prize Bonds/Cash at Bank 439,500
    Cash in Hand/Prize Bonds/Cash at Bank 50,000

    2,869,500 - 2,869,500

    FARHAN STEEL

    Drawing 1,099,500 Opening 1,023,500


    Investment -
    Closing 1,023,500 Profit 1,099,500
    2,123,000 - 2,123,000

    Signature

    MUHAMMAD FARHAN
    WEALTH POSITION
    AS ON JUNE 30, 2023
    TAX YEAR 2023

    Addition/
    Assets/Property 2023 Deletion 2022
    Animals 139,500 (260,500) 400,000
    Purchase of Plot Bahria Town 1,650,000 - 1,650,000
    Business Capital - FARHAN STEEL 1,023,500 - 1,023,500
    Purchase of Vehicle Honda Civic 2,000,000 2,000,000 -
    Bank Account 439,500 (620,000) 1,059,500
    Cash in Hand 50,000 39,500 10,500
    Motor Bike 103,000 - 103,000
    Jewllery - Gold 500,000 - 500,000
    Household Effect 200,000 - 200,000
    6,105,500 1,159,000 4,946,500
    WEALTH RECONCILIATION STATEMENT

    Wealth As On June 30, 2023 6,105,500


    Wealth As On June 30, 2022 4,946,500
    Increase - 1,159,000

    Sources
    Gain on Sale on Animals 439,500
    Business Income 1,099,500 1,539,000

    Expenses
    Personal Expenses 380,000 380,000
    Increase - 1,159,000

    COMPUTATION OF INCOME

    Business Income 1,099,500

    Tax Liability
    Tax on Rs. 1,099,500 FIX - 47,438

    Less: Tax deducted on Source- Motor Vehicle 17,382


    Internet 391
    Balance Payable/(Refundable) Rupees 29,665

    Animal Sale Gain Exempt

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