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    Abreham Bekele 2015 Intriem

    Uploaded by

    Haile Kebede
    This document contains the balance sheet, profit and loss statement, statement of cash flows, and notes to the accounts for Abreham Bekele Tesema Hotel as of 30-Megabit-2015 E.C. The balance sheet shows total assets of 44,806,665.98 ETB including fixed assets of 44,083,775.98 ETB and current assets of 722,890 ETB. Total liabilities are 1,212,348.41 ETB and owner's equity is 43,594,317.57 ETB. The profit and loss statement shows a gross profit of 7,957,061.76 ETB and a net profit of 2,515,546.62 ETB

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Abreham Bekele 2015 Intriem

    Uploaded by

    Haile Kebede
    4 views4 pages
    This document contains the balance sheet, profit and loss statement, statement of cash flows, and notes to the accounts for Abreham Bekele Tesema Hotel as of 30-Megabit-2015 E.C. The balance sheet shows total assets of 44,806,665.98 ETB including fixed assets of 44,083,775.98 ETB and current assets of 722,890 ETB. Total liabilities are 1,212,348.41 ETB and owner's equity is 43,594,317.57 ETB. The profit and loss statement shows a gross profit of 7,957,061.76 ETB and a net profit of 2,515,546.62 ETB

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    Abreham Bekele 2015 Intriem.xls

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    This document contains the balance sheet, profit and loss statement, statement of cash flows, and notes to the accounts for Abreham Bekele Tesema Hotel as of 30-Megabit-2015 E.C. The balance sheet shows total assets of 44,806,665.98 ETB including fixed assets of 44,083,775.98 ETB and current assets of 722,890 ETB. Total liabilities are 1,212,348.41 ETB and owner's equity is 43,594,317.57 ETB. The profit and loss statement shows a gross profit of 7,957,061.76 ETB and a net profit of 2,515,546.62 ETB

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    4 views4 pages

    Abreham Bekele 2015 Intriem

    Uploaded by

    Haile Kebede
    This document contains the balance sheet, profit and loss statement, statement of cash flows, and notes to the accounts for Abreham Bekele Tesema Hotel as of 30-Megabit-2015 E.C. The balance sheet shows total assets of 44,806,665.98 ETB including fixed assets of 44,083,775.98 ETB and current assets of 722,890 ETB. Total liabilities are 1,212,348.41 ETB and owner's equity is 43,594,317.57 ETB. The profit and loss statement shows a gross profit of 7,957,061.76 ETB and a net profit of 2,515,546.62 ETB

    Copyright:

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

    ABREHAM BEKELE TESEMA HOTEL

    BALANCE SHEET
    AS AT 30-MEGABIT-2015 E.C.

    ASSETS EMPLOYED:

    Property, Plant & Equipment (Net) 44,083,775.98


    Establishment cost -
    TOTAL FIXED ASSET 44,083,775.98

    CURRENT ASSETS

    Stocks 430,215.00
    Debtors and prepayments 203,018.00
    Cash at Bank & Hand 89,657.00
    TOTAL CURRENT ASSET 722,890.00
    TOTAL ASSET 44,806,665.98

    CURRENT LIABILITIES

    Current Portion Bank Loan -


    Creditors and Accruals 134,257.00
    Provision for profit tax as per ERCA 1,078,091.41
    TOTAL CURRENT LIABILITIES 1,212,348.41

    LONG TERM LIABILITIES

    L0NG TERM BANK LOAN -

    TOTAL LIABILITIES 1,212,348.41

    OWNER'S EQUITY

    Registered Capital 50,000.00


    Additional investment 41,028,770.95
    Profit and Loss account 2,515,546.62
    43,594,317.57

    TOTAL LIABILITIES & CAPITAL 44,806,665.98


    ABREHAM BEKELE TESEMA HOTEL
    PROFIT AND LOSS STATEMENT
    AS AT 30-MEGABIT-2015 E.C.

    Sales income 50,181,129.73


    50,181,129.73
    COST OF GOODS 42,224,067.97
    Gross Profit 7,957,061.76
    Operating & Administrative Expenses

    Salary expense 610,098.75


    Pension Contribution Expense 3,558.91
    Depreciation 2,650,387.62
    Supplies & Stationary 50,848.13
    Utility expense 13,346.25
    Interest Expense 650,369.03
    Manucipality & Legal Fee Expense 7,031.25
    Loading/Unloading Expense 97,074.38
    Accountancy Fee Expense 234,375.00
    Bank Service Charge 3,950.03
    Miscaneouse Expenses 42,384.38
    4,363,423.73
    PROFIT BEFORE TAXATION 3,593,638.03

    -
    Provision for Profit tax 1,078,091.41
    2,515,546.62
    ABREHAM BEKELE TESEMA HOTEL
    STATEMENT OF CASH FLOWS
    AS AT 30-MEGABIT-2015 E.C.

    Cash flow from operating activities

    Profit before taxation 3,593,638


    Depreciation 2,650,388
    Amortizatin -
    Adjustment -
    Cash flow from operating activity before effect of working capital 6,244,026

    (Increase) Decrease in trade and other receivables (203,018)


    Profit Tax Paid (2,156,183)
    Deacrese in stocks account (430,215.00)
    (Decrease) Increase in trade and other payables 134,257
    (2,655,159)

    Net cash generated from operating activities 3,588,867

    Cash flow from investing activities


    Acquisition of fixed assets -

    Net cash used in investing activities -

    Cash flow from financing activities


    Transfer from shareholders
    Additional investment (41,028,771)
    Loan -

    Net cash used in financing activities (41,028,771)

    Increase (Decrease) in cash and bank balances 89,657

    Cash at bank balances, beginning of the year -

    Cash at bank balances, end of the year 89,657


    ABREHAM BEKELE TESEMA HOTEL
    NOTES TO THE ACCOUNTS
    AS AT 30-MEGABIT-2015 E.C.

    PROPERTY, PLANT & EQUIPMENT


    Balance Balance
    COST 01 HAMLE 2014 Addition 30 MEGABIT 2015
    Vehicles 6,500,000.00 6,500,000.00
    Furnitures 2,351,469.00 2,351,469.00
    Computer and Accessories 259,687.00 259,687.00
    Building G+4 41,521,304.00 - 41,521,304.00
    50,632,460.00 - - 50,632,460.00
    DEPRECIATION
    Vehicles 1,300,000.00 780,000.00 2,080,000.00
    Furnitures 470,293.80 282,176.28 752,470.08
    Computer and Accessories 51,937.40 31,162.44 83,099.84
    Building 2,076,065.20 1,557,048.90 3,633,114.10
    3,898,296.40 2,650,387.62 - 6,548,684.02

    NET BOOK VALUE 46,734,163.60 44,083,775.98

    DEBTORS AND PREPAYMENTS

    VAT receivable 153,674.00


    Withholding tax 19,687.00
    Prepaid insurance 29,657.00

    203,018.00

    COST OF GOODS
    Beginning Inventory 502,134.00
    Purchase 42,152,148.97
    Goods Available For Sales 42,654,282.97
    Less Ending Inventory 430,215.00
    Total Cost of Sales-Cement 42,224,067.97

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