Sample Profit & Loss Statement Of Taxi Business (Page 3 of 4) in pdf

SAMPLE BALANCE SHEET

OF TAXI BUSINESS

NOTES

Each component of financial statement is to be valued at VEP amount.

1. Cash at Bank - This closing bank balance of a year from the bank reconciliation or bank

statement which is ending balance as at 31st December.

2. Cash on Hands - Ending balance, as at 31 December of cash held on hand.

3. Debtors – Amount of money owed to your business by individual or organisation as at end of

current financial year.

4. Insurance in advance – Amount of insurance expenses paid in advance for taxi insurance

before it has been incurred.

5. Total Current Assets - Add all current assets.

6. Taxi –Value of all taxis owned by business valued at historical cost.

7. Accumulated Depreciation - Total depreciation on taxis from date of acquisition till year end

date.

8. Cost of taxis less accumulated depreciation on taxis (Written down Value).

9. Land – Historical cost of land owned by you or your business.

10. Building – Value of building owned by you for personal use.

11. Accumulated Depreciation - Total depreciation on building from date of acquisition till year

end date.

12. Value of building less accumulated depreciation on building (Written down Value).

13. Motor Vehicle – Value of all motor vehicles owned you for personal use valued at purchase

price.

14. Accumulated Depreciation - Total depreciation on motor vehicle from date of acquisition till

year end date.

15. Purchase price of motor vehicle less accumulated depreciation on motor vehicle (Written

down Value).

16. Total Fixed Assets – Total of written down value of all assets plus value of land.

17. Total Assets – Current assets plus fixed assets.

18. Creditors – Total amount of money owed by you or your business to individuals (including

friends and relatives) and organization which can be paid within 12 months period.

19. Total Current Liabilities - Total amount of all current liabilities.

20. Loan payable – Amount of loan is to be paid as at end of the year either payable to financial

institution or any other party (including friends and relatives).

21. Taxi loan payable – Amount of loan to be paid for taxi as at end of the year either payable to

financial institution or any other party (including friends and relatives).

22. Total Long Term Liabilities – Add all long term liabilities.

23. Total Liabilities – Total current liabilities plus total long term liabilities.

24. Net Assets – Total assets minus total liabilities.

25. Beginning Capital – Amount of capital at the start of this financial year (closing capital of last

financial year).

Sample Profit & Loss Statement Of Taxi Business Page 3