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    Fate Hasen 2013

    Uploaded by

    Muhedin Hussen

    Copyright:

    © All Rights Reserved
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    Fate Hasen 2013

    Uploaded by

    Muhedin Hussen
    13 views4 pages

    Original Title

    FATE HASEN 2013

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    © © All Rights Reserved

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    13 views4 pages

    Fate Hasen 2013

    Uploaded by

    Muhedin Hussen

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    FATE HASEN ABEDLA (HANEYA HOTEL)

    Income statements for the Year Ended July 07/2021


    Sales-----------------------------------------------------------------------------------------------------1392550.20
    Purchase
    Beginning Inventory -----------------------------------273542.28
    Purchase--------------------------------------------------778215
    Cost of good available for sales---------------------1051757.28
    Ending inventory--------------------------------------- (26086.50)
    Cost of goods sold---------------------------------------------------------------------------------------1025670.78
    Gross profit/loss-----------------------------------------------------------------------------------------366879.42

    Administrative expense
    Salary expenses-------------------------------------------------------88800
    Pension expense------------------------------------------------------5280
    Utility expenses-------------------------------------------------------42966.35
    Miscellaneous expenses (abattoir, soap, wood etc...)--------58920
    Depreciation expenses---------------------------------------------36679.84
    Total administrative expenses-----------------------------------------------------------------------232646.19
    Income before tax---------------------------------------------------------------------------------------134233.23
    Income tax ((134233.23×35%)-18000)) -----------------------------------------------------------28981.63
    Net income after tax-----------------------------------------------------------------------------------105251.60
    FATE HASEN ABEDLA (HANEYA HOTEL)
    Balance sheet for the year ended July 07/2021
    Assets
    Current Assets
    Cash on hand--------------------------------------634964.03
    Inventory-------------------------------------------26086.50
    Total current assets--------------------------------------------------------------------------------661050.53

    Fixed Assets
    Fixed asset purchase-------------------------------751424.98
    Accumulated depreciation---------------------- (289652.15)
    Book value----------------------------------------------461772.83
    Total fixed assets--------------------------------------------------------------------------------------461772.83

    Total Assets---------------------------------------------------------------------------------------------1122823.36

    Liabilities
    Income tax payable-----------------------------------28981.63
    Vat payable---------------------------------------------30342.88
    Total liabilities---------------------------------------------------------------59324.51

    Capital
    Fate Hasen capital----------------------------------958247.25
    Net income/loss--------------------------------------105251.60
    Total capital------------------------------------------------------------------1063498.85

    Total Liabilities and Capital-------------------------------------------------------------------------1122823.36


    FATE HASEN ABEDLA (HANEYA HOTEL)
    Calculation of deprecation expenses for Fixed Assets July 07/2021
    Name of fixed Purchase Price Base of Year of Deprecation Rate deprecati Book
    Assets Date deprecation Deprecation Method on Value
    cost cost
    Building 15/09/06 650000 650000 2013 E.C Straight line 5% 32500 417083.33
    TV 17/04/08 14609 Finished 2013 E.C pooling 20% 0 5285.74
    Firege 2008 18261 Finished 2013 E.C // 20% 0 13932.38
    Chair 02/06/08 2130.43 Finished 2013 E.C // 20% 0 799.91
    Bifitu xtra 12/04/16 5631.22 Finished 2013 E.C Pooling 25% 0 2408.64
    Onion machine 03/12/08 3826.09 1599.82 2013 E.C pooling 20% 319.96 1279.86
    Meat mincer 20/09/16 9130.43 3895.65 2013 E.C pooling 20% 779.13 3116.52
    Firege ሚዲያ 23/04/13 13304.31 13304.31 2013 E.C // 20% 1552.17 11752.14
    384
    Tanker5000L 17/03/09 11304.34 7642.89 2013 E.C pooling 20% 1528.58 6114.31
    TOTAL 36679.84 461772.83
    FATE HASEN ABEDLA (HANEYA HOTEL)
    FINACIAL STATEMENTS FOR 2013 E.C
    TIN NO. 0000717990

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