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227 [XI – Accountancy]
Scope
(i) The scope of the unit is to understand accounting as an information
system for the generation of accounting information and preparation of
accounting reports.
(ii) It is advised that the working knowledge of Tally software will be
given to the students for generation of accounting software. For this,
the teachers may refer chapter 4 of Class XII NCERT text book on
Computerised Accounting System.
PROJECT - I
PROJECT WORK IN ACCOUNTANCY CLASS XI
In Accounting, Project Work is introduced at XI class for 10 marks. At
this level, the accountancy teachers require to help the students in the project
in the following ways:
1. To provide knowledge to the students about Accounting Process.
2. Give the imaginary transactions data.
3. Show the original source document (Which is easily available).
4. To train the students for preparing vouchers.
5. Tell the students how to record transactions from vouchers.
6. To motivate students to collect various source documents.
7. To encourage students to prepare books of accounts with the help of
vouchers.
So, the commerce teacher will play a important role in preparation of
project in class XI. The teacher may provide various transactions to the students.
Some transactions are given below:
Ayan started business under the name AYAN & BROTHERS at NOIDA
on April 1, 2011 to deal in Books and Stationary material. He introduced Rs.
5,00,000 as capital out of which Rs. 1,00,000 was in cash and balance by
cheque. He enclosed the original papers relating to his business transactions
for the month of April, 2011.
[XI – Accountancy] 228
Students should analyse the transactions on the basis of these papers and
process the information through:
Various stages of accounting cycle.
Preparation of vouchers for each financial transaction.
Recording in the journal and subsidiary books.
SOURCE DOCUMENTS
Transaction 2
[XI – Accountancy] 232
Transaction 12M/s Aryan & Brothers Noida
No. 1 Receipt (Original) Date : 14.04.2011
Received with thanks from M/s Ramesh Trading Co. sum of Rupees one lacfifty thousand only as part payment of Invoice no. 1, dated April 12, 2011 through cheque no. 486958 on ICICI BANK LTD. DELHI.
FOR AYAN & BROTHERS
Transaction 14
Carriage paid for unloading of goods Rs. 500 cash.
233 [XI – Accountancy]
Transaction 16
BILL OF EXCHANGENOIDA
Stamp Date : 19.04.2011
one month after date pay M/s Ayan & Brothers or order the sum of Rupeestwenty thousand only, value received.
for AYAN & BROTHERSRs. 20,000To,M/s Vikas Ltd.
AYAN
Transaction 17
Mr. Ayan withdraw Rs. 3,000 from Bank Account for personal use
vide cheque no. 186930 on 20th April, 2011.
Transaction 18
Rs. 25,000 Wages paid to worker vide cheque No. 186931 on 20th
April 2011.
Transaction 19PROMISSORY NOTENOIDA
Date : 19.04.2011
Rs. 10,000Two month after date, I/We promise to pay M/s Sunlight Ltd. Or ordersum of Rupees Ten Thousand only for the value received.
for AYAN & BROTHERSAYAN
[XI – Accountancy] 234
Transaction 20
Payment made for purchasing Printing and Stationary Material vide
cheque no. 186932, HDFC BANK LTD. on 25th April, 2011
Transaction 21
Salary of Rs. 15,000 paid for the month of April, 2011 by cheque
No. 186935.
Event as on 30th, April 2011
Inventory was counted and valued Rs. 1,08,950.
243 [XI – Accountancy]
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[XI – Accountancy] 244
Sale
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Date
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245 [XI – Accountancy]
In t
he
Bo
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Ay
aan
& B
roth
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Date
Pa
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Det
ail
s (R
s).
Am
ou
nt
(Rs)
2011
Fu
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& F
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To R
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le A
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Ltd
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(Bei
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21
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td.)
[XI – Accountancy] 246
Ledger Accounts
Dr. Capital Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
30-Apr To Balance c/d 5,00,000 1-Apr By Bank A/c 4,00,000
1-Apr By Cash A/c 1,00,000
5,00,000 5,00,000
2011
1-May By Balance b/d 5,00,000
Dr. Drawings Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
20-Apr To Bank A/c 3,000 30-Apr By Balance c/d 3,000
3,000 3,000
2011
1-May To Balance b/d 3,000
Dr. Furniture & Fixtures Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
2-Apr To Ram & Sons 95,000
8-Apr To Cash A/c 5,000 30-Apr By Balance c/d 1,00,000
1,00,000 1,00,000
2011
1-May To Balance b/d 1,00,000
Dr. Purchases Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
3-Apr To Bank A/c 85,000
15-Apr To Bank A/c 25,000
30-Apr To Purchases Book 2,49,000 30-Apr By Balance c/d 3,59,000
3,59,000 3,59,000
2011
1-May To Balance b/d 3,59,000
247 [XI – Accountancy]
Dr. Office Equipment Account Cr.
DateParticulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
5-Apr To Bank A/c 75,000 30-Apr By Balance c/d 75,000
75,000 75,000
2011
1-May To Balance b/d 75,000
Dr. Bill Receivable Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
19-Apr To Vikas Ltd. 20,000 30-Apr By Balance c/d 20,000
2011
1-May To Balance b/d 20,000
Dr. Ram & Sons Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
12-Apr To Bank A/c 50,000 2-Apr By Furniture & 95,000
30-Apr To Balance c/d 45,000 Fixtures A/c
95,000 95,000
2011
1-May By Balance b/d 45,000
Dr. Discount Allowed Account Cr.
Date Particulars J.F. Amt. Rs. Date Particular J.F. Amount Rs.
2011 2011
7-Apr To Sales A/c 500 30-Apr By Balance c/d 500
500 500
2011
1-May To Balance b/d 500
[XI – Accountancy] 248
Dr. Sales Account Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
30-Apr To Balance c/d 3,15,000 7-Apr By Bank A/c 24,500
7-Apr By Discount Allowed 500
30-Apr By sales book 2,90,000
3,15,000 3,15,000
2011
1-May By Balance b/d 3,15,000
Dr. Sunlight Ltd. Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
21-Apr To Bills Payable A/c 10,000 6-Apr By Purchases A/c 2,34,000
30-Apr To Balance c/d 2,39,000 14-Apr By Purchases A/c 15,000
2,49,000 2,49,000
2011
1-May By Balance b/d 2,39,000
Dr. Bills Payable (Promissory Note) Account Cr.
DateParticulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
30-Apr To Balance c/d 10,000 21-Apr By Sunlight Ltd. 10,000
10,000 10,000
2011
1-May By Balance b/d 10,000
Dr. Vikas Ltd. Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
12-Apr To Sales A/c 45,000 19-Apr By Bills Receivable A/c 20,000
30-Apr By Balance c/d 25,000
45,000 45,000
2011
1-May To Balance b/d 25,000
249 [XI – Accountancy]
Dr. Ramesh Trading Co. Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
12-Apr To Sales A/c 2,45,000 14-Apr By Bank A/c 1,50,000
30-Apr By Balance c/d 95,000
2,45,000 2,45,000
2011
1-May To Balance b/d 95,000
Dr. Advt. Expenses Account Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
10-Apr To Cash A/c 2,500 30-Apr By Balance c/d 2,500
2,500 2,500
2011
1-May To Balance b/d 2,500
Dr. Printing & Stationary Account Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
25-Apr To Bank A/c 2,000 30-Apr By Balance c/d 2,000
2,000 2,000
2011
1-May To Balance b/d 2,000
Dr. Carriage Inward Account Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
15-Apr To Cash A/c 500 30-Apr By Balance c/d 500
500 500
2011
1-May To Balance b/d 500
[XI – Accountancy] 250
Dr. Wages Account Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
20-Apr To Bank A/c 25,000 30-Apr By Balance c/d 25,000
25,000 25,000
2011
1-May To Balance b/d 25,000
Dr. Salaries Account Cr.
Date Particulars J.F. Amount Rs. Date Particular J.F. Amount Rs.
2011 2011
30-Apr To Bank A/c 15,000 30-Apr By Balance c/d 15,000
15,000 15,000
2011
1-May To Balance b/d 15,000 15,000
Trial Balance
Particulars Dr. Rs. Cr. Rs.
Cash A/c 92,000
Bank A/c 2,94,500
Capital A/c 5,00,000
Drawings A/c 3,000
Furniture & Fixtures 1,00,000
Purchases A/c 3,59,000
Sales A/c 3,15,000
Office Equipment A/c 75,000
Printing & Stationary A/c 2,000
Advertisement Exp. A/c 2,500
Carriage Inward A/c 500
Bill Receivable A/c 20,000
Bills Payable (Promissory Note) A/c 10,000
Discount Allowed A/c 500
Wages A/c 25,000
Salaries A/c 15,000
Ram & Sons 45,000
Sunlight Ltd. 2,39,000
Vikas Ltd. 25,000
Ramesh Trading Co. 95,000
Total 11,09,000 11,09,000
251 [XI – Accountancy]
AYAN & BROTHERS
TRADING AND PROFIT AND LOSS ACCOUNT
For the period 1st April 2011 to 30th April 2011
Particulars Amount (Rs.) Particulars Amount (Rs.)
To Purchases 3,59,000 By Sales 3,15,000
To Carriage Inward 500 By Closing Stock 1,08,950
To Wages 25,000
To Gross Profit c/d 39,450
4,23,950 4,23,950
To Advt. Expenses 2,500 By Gross Profit b/d 39,450
To Discount Allowed 500
To Printing & Stationary 2,000
To Salary 15,000
To Net Profit 19,450
39,450 39,450
AYAN & BROTHERS
BALANCE SEET
As at 30th April 2011
Liabilities Amt. (Rs.) Assets Amt. (Rs.)
Capital Account Fixed Assets
Introduced 5,00,000 Office Equipment 75,000
Add: Net Profit 19,450 Furniture & Fixtures 1,00,000
For the period 5,19,450
Less: Drawings 3,000 5,16,450 Current Assets
Sundry Debtors 1,20,000
Current Liabilities Cash In Hand 92,000
Sundry Creditors (Goods) 2,39,000 Cash At Bank 2,94,500
Sundry Creditors (Others) 45,000 Bill Receivable 20,000
Bills Payable (Promissory note) 10,000 Closing Stock 1,08,950
8,10,450 8,10,450
[XI – Accountancy] 252
PROJECT - II
Project work 2 (procedure)
Preparation of Bank Reconciliation Statement with the help of given
Cash Book and Pass Book.
If both the books (Cash Book and Pass Book) are given, the following
procedure will be adopted.
Step 1 : Tick off the items which are found both in the cash book and passbook/
bank statement. Put sign () before such items.
Items ticked () will neither be recorded in amended cash book nor in
Bank Reconciliation Statement.
Step 2 : The unticked items in the passbook will indicate that have not yet
been recorded in cash book.
These items will usually consist of:
(i) Direct deposits by customers in bank.
(ii) Bank charges.
(iii) Interest charged by bank.
(iv) Interest allowed by bank.
Step 3 : Balance the bank column of cash bok to know an updated balance.
Bank Reconciliation Statement is to be prepared on the basis of this updated
balance.
Step 4: Identify the unticked items on the Receipts side of the Cash Book.
These items generally consist of 'cheques deposit to the bank but not collected'.
Step 5 : Amended Cash Book is to be prepared on the basis of items identified
in step 1, 2, 3.
Bank reconciliation statement is to be prepared on the basis of items
identified in steps 4 and 5.
253 [XI – Accountancy]
Project 1
The cash book of Shivalik Global Limited, showing the bank columns
only, is given below along with a copy of the Pass Book of its bank account
with Allahabad Bank for April, 2013.
You are required to prepare amended Cash Book and reconcile it with
Pass Book.
Shivalik Global Limited
Cash Book (Bank Column only)
Date Receipts L.F. Rs. Date Particulars L.F. Rs.
2013 2013
Apr. 1 Balance b/d 5,70,000 Apr. 1 Bishan Hari Bros. 39,200
Apr. 1 Bishambar & Co. 62,800 Apr. 1 Maruti Suzuki India 20,000
Apr. 4 P.L. Kataria 97,200 Apr. 3 J.P. Infra Ltd. 2,16,000
Apr. 8 Reliance Power Ltd. 36,400 Apr. 9 Surendra Pal 16,800
Apr. 13 Meena Singh 30,000 Apr. 9 India Visions Ltd. 1,96,000
Apr. 20 Krishna & Company 1,68,000 Apr. 10 Reliance Insurance 1,20,000
Apr. 28 House of Fashions Ltd. 37,600 Apr. 16 Shivam Garage 44,000
Apr. 23 Peddy Cash 20,000
Apr. 27 Sanjay & Co. 48,000
Apr. 28 Balance c/d 2,82,000
10,02,000 10,02,000
Allahabad Bank, Sansad Marg, New Delhi
Statement of Account No. 5984758722: Shivalik Global Limited
Date Details Debit Credit Balance
2013
Apr. 1 Balance 5,70,000 cr.
Apr. 2 Bishambar & Co. 62,800 6,32,800 cr.
Apr. 4 Maruti Suzuki India Ltd. 20,000 6,12,800 cr.
Apr. 5 Bishan Hari Bros. 39,200 5,73,600 cr.
Apr. 6 P.L. Kataria 97,200 6,70,800 cr.
Apr. 10 Reliance Power Ltd. 36,400 7,07,200 cr.
[XI – Accountancy] 254
Apr. 14 Reliance Insurance 1,20,000 5,87,200 cr.
Meena Singh 30,000 6,51,200 cr.
Apr. 23 India Vision Ltd. 1,96,000 4,21,200cr.
Apr. 25 Krishna & Co. 1,68,000 5,89,200cr.
Apr. 25 Someshwar 41,200 5,48,000cr.
Apr. 25 Self 20,000 5,28,000cr.
Apr. 27 Chandramani 88,000 6,16,000cr.
Apr. 28 Bank Charges 15,200 6,00,800cr.
Solution :
Step 1 : Tick off the items which are found both in cash and pass book. Put
() sign before such items. Items ticked () will neither be recorded
in amended cash book nor in Bank Reconciliation Statement.
Step 2 : Unticked items in the Pass Book indicate items that have not yet been
recorded in the cash Book. These are :
(i) Payment of Rs. 41, 200 made to Someshwar on April 25.
(ii) Direct deposit by Chandramani Rs. 88,000 on April 27.
(iii) Bank charges of Rs. 15,200 charged by bank on April 28.
These items are to be recorded in Cash Book to update it.
Amended Cash Book
Date Receipts Rs. Date Payment Rs.
Apr. 28 Balance b/d 2,82,000 Apr. 28 Someshwar 41,200
Apr. 28 Chandramani 88,000 Apr. 28 Bank Charges 15,200
Apr. 28 Balance c/d 3,13,600
3,70,000 3,70,000
2013
Apr. 28 Balance b/d 3,13,600
Step 3 : Balance the bank columns of amended cash book to know an update
balance.
Step 4 : Identify the unticked items on receipt side of cash book. It is' cheque
deposited into bank but not collected'; 'House of fashions Ltd.' Rs.
255 [XI – Accountancy]
37,600.
Step 5 : Identify unticked items on the payment side of cash book, These are:
JP infra Ltd. 2,16,000
Surendra Pal 16,800
Shivam Garage 44,000
Sanjay & Co. 48,000
Items identified in step 4 and 5 are to be shown in Bank Reconciliation
Statement.
Bank Reconciliation Statement
as on April 30, 2013
Particulars Plus items Minus Items
Balance as per Cash Book 3,13,600
Less : Cheques deposited but not cleared, 37,600
house of fashions Ltd.
Add: Cheques issued but not yet
Present for payment
J.P Infra Ltd. 2,16,000
Surendra Pal 16,800
Shivam Garage 44,000
Sanjay & Co. 48,000
3,24,800
Balance as per Pass Book 6,00,800
6,38,400 6,38,400
[XI – Accountancy] 256
PROJECT-1
COMPREHENSIVE
Problem
Mr. Antriksh Samrat has completed his diploma in Textiles Now he has
started a cloth business after inspired by his uncle's cloths business.
He has invested Rs. 10,00,000 as capital out of which Rs. 5,00,000 as
cash and Rs. 5,00,000 by cheque on dated 1. April 2013.
The transactions related to business are as:-
2 April : Furniture purchased Rs. 1,80,000 from Gupta Furnitures.
4. April : Goods purchased Rs. 70,000 by Cheque.
5 April : Purchased office equipment Rs.70,000 by bank.
7 April : Goods sold Rs. 3,25,000 and deposited the same into Bank.
8 April : Purchased Furniture in cash Rs. 3,20,000.
9 April : Goods Purchased from Gwalior Textiles on credit.
Trouser cloths - 80,000
Shirt cloths - 10,000
Coat cloths - 1,40,000
T. Shirts - 30,000
Less 10% Trade Discount.
10 April : Paid Advertisement expense Rs. 12,500.
12 April : Goods sold to Bhola sons
285 Trousers Pieces @ 200 - 57,000
255 Shirts Pieces @ 100 - 25,500
257 [XI – Accountancy]
40 S.P. White cloth pieces @ 500 - 20,000
137 coat pieces @ 1000 - 1,37,000
105 T. Shirts @ 100 - 10,500
13 April : Paid Rs. 1,50,000 to Gupta Furniture by cheque
14 April : Goods sold to star cloths store
50 Trousers piece @ 200 - 10,000
50 shirts peice @ 100 - 5,000
20 coat peice @ 1,000 - 20,000
24 White cloths @ 500 - 12,000
30 T. Shirts peice @ 100 - 3,000
15 April : Received a cheque Rs. 1,50,000 from Bhola sons and deposited
into bank.
16 April : Goods purchased from Gwalior Textiles :
White cloths - 5,000
Grey cloths - 10,000
16 April : Paid Rs.500 as Carriage inward.
16 April : Purchased goods Rs. 50,000 by cheque.
18 April : Antriksh withdraw from Bank Rs. 3,000 for personal use.
22 April : Paid wages Rs. 25,000 by cheque
23 April : Paid Rs. 2,000 for printing and stationary by cheque.
30 April : Paid salary to Employees Rs. 1,00,000 by cheques.
Stock at the end was Rs. 75000.
Prepare the followings :
- Journal
- Ledger is Accounts
- Trial Balance
- Trading and Profit and Loss Account
- Balance sheet.
[XI – Accountancy] 258
Solution :
Date Particulars L.F. Dr. Rs. Cr. Rs.
2013
Apr.., 1 Cash A/c Dr. 5,00,000
Bank A/c Dr. 5,00,000
To Capital A/c 10,00,000
(The business started with cash
and Bank by Antriksh
Apr., 2 Furniture A/c Dr. 1,80,000
To Gupta Furnitures 1,80,000
(The furniture purchased on credit)
Apr., 4 Purchases A/c Dr. 70,000
To Bank A/c 70,000
(The goods purchased by cheque)
Apr., 5 Office Equipment A/c Dr. 70,000
To Bank A/c 70,000
(The Office equipment Purchased)
Apr., 7 Bank A/c Dr. 3,25,000
To sales A/c 3,25,000
(The goods sold and deposit
in Bank)
Apr., 8 Furniture A/c Dr. 3,20,000
To Cash A/c 3,20,000
(The furniture purchased in cash)
Apr., 9 Purchases A/c Dr. 2,34,000
To Gwalior Textiles 2,34,000
(The goods Purchased from Gwalior)
Textile at 10% Discount
Apr., 10 Advertisement Exp. A/c Dr. 12,500
To Cash A/c 12,5000
(The paid for advertisement
expense)
Apr., 12 Bhola sons Dr. 2,45,000
To Sales A/c 2,45,000
259 [XI – Accountancy]
(The goods sold to Bhola sons)
AT 2% Trade discount
Apr., 13 Gupta Furnitures Dr. 1,50,000
To Bank A/c 1,50,000
(The amount paid by cheque)
Apr., 14 Star cloth Store Dr. 45,000
To sales A/c 45,000
(The goods sold at 10% Discount)
Apr., 15 Bank A/c Dr. 1,50,000
To Bhola Sons 1,50,000
(The cheque receive and deposit)
Apr., 16 Purchases A/c Dr. 15,000
To Gwalior Textiles 15,000
(The goods purchased on credit)
Apr., 16 Carriage Inwards A/c Dr. 500
To Cash A/c 500
(The carriage inward paid)
Apr., 16 Purchases A/c 50,000
To Bank A/c 50,000
(The goods purchase and paid
by cheque)
Apr. 18 Drawings A/c Dr. 3,000
To Bank A/c 3,000
(The amount withdraw from
Bank for personal use)
Apr., 22 Wages A/c Dr. 25,000
To Bank A/c 25,000
(The Paid for wages)
Apr. 23 Printing and stationery A/c Dr. 2,000
To Bank A/c 2,000
(The paid for printing and
Stationary)
Apr., 30 Salaries A/c Dr. 1,00,000
To Bank A/c 1,00,000
(The paid for salary)
[XI – Accountancy] 260
Dr.
Cash
Boo
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of
An
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shC
r.
Date
Pa
rtic
ula
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.F.
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L.F
.C
ash
Ba
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201
32
01
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1 A
pr.
To C
apit
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A/c
5,0
0,0
00
5,0
0,0
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4 A
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By P
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/c-
70
,00
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7 A
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A/c
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,00
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Ap
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apr.
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ons
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08
apr.
By F
urn
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00
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By A
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Exp
ense
A/c
12
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13 A
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By G
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16 A
pr.
By C
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ard
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16 A
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By P
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has
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/c-
50
,00
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18 A
pr.
By D
raw
ings
A/c
-3,0
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22 A
pr.
By w
ages
A/c
-2
5,0
00
23 A
pr.
By P
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2,0
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By S
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By B
alan
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5,0
0,5
00
5,0
0,0
00
9,7
5,0
00
5,0
0,0
00
9,7
5,0
00
261 [XI – Accountancy]
Purchases Book
Date Particulars Bill No. L.F. Detail Amount
2013
9 Apr.., Gwalior Textiles - 27
Trouser cloths 80,000
Shirt cloths 10,000
Coat cloth 1,40,000
T. Shirt 30,000
2,60,000
Less 10% Trade Discount – 26,000 2,34,000
16 Apr. Gwalior Textiles: 171
White Cloths 5,000
Grey cloths 10,000 15,000
30 Apr. Purchases A/c Dr. 2,49,000
Sales Book
Date Particulars Inv.. L.F. Detail Amount
2013
12 Apr. Bhola Sons
285 Trousers @ 250 57,000
255 Shirts @ 100 25,500
40 Sp. White cloth @ 500 20,000
137 Coat peices @ 1000 1,37,000
105 T. Shirts @ 100 10,500
2,50,000
Less 2% Trade Discount – 5000 2,45,000
14 Apr. Star cloths Store
50 Trousers @ 200 10,000
50 Shirt @ 100 5,000
20 Coat cloth @ 1000 20,000
24 white cloths @ 500 12,000
30 T. Shirt @ 100 3,000
50,000
Less 10% Trade Discount – 5000 45,000
30 Apr. Sales A/c Cr. 2,90,000
[XI – Accountancy] 262
Ledger
Dr. Capital Accoutns Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
30, Apr. To Balance c/d 10,00,000 Apr. 1 By cash A/c 5,00,000
Apr. 1 By Bank A/c 5,00,000
10,00,000 10,00,000
2013
1 May By Balance b/d 10,00,000
Dr. Drawings A/c Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
18, Apr. To Bank A/c 3,000 Apr.30 By Balance c/d 3,000
3,000 3,000
2013
1, May To Balance B/d 3,000
Dr. Furniture Accoutns Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
2, Apr. To Gupta Furn. 1,80,000 Apr. 30 By Balance c/d 5,00,000
8, Apr. To Cash A/c 3,20,000
5,00,000 5,00,000
2013
1 May To Balance b/d 5,00,000
Dr. Purchases Accoutns Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
4, Apr. To Bank A/c 70,000 Apr. 30 By Balance c/d 3,69,000
16, Apr. To Balance A./c 50,000
30, Apr. To Purch. Book 2,49,000
3,69,000 3,69,000
2013
1 May To Balance b/d 3,69,000
263 [XI – Accountancy]
Dr. Offie Equipment Accoutns Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
5, Apr. To Bank A/c 70,000 Apr. 30 By Balance c/d 70,000
70,000 70,000
2013
1 May To Balance b/d 70,000
Dr. Gupta Furnitures Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
13, Apr. To Bank A/c 1,50,000 Apr. 2 By Furniture A/c 1,80,000
30 Apr. To Balance c/d 30,000
1,80,000 1,80,000
1 May By Balance b/d 30,000
Dr. Sales Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
30, Apr. To Balance c/d 6,15,000 Apr. 7 By Bank A/c 3,25,000
30 Apr. By Sales Book 2,90,000
61,5000 6,15,000
2013
1 May By Bal b/d 6,15,000
Dr. Gwaliar Textiles Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
30, Apr. To Balance c/d 2,49,000 Apr. 9 By Purchases A/c 2,34,000
Apr. 16 By Purchases A/c 15,000
2,49,000 2,49,000
2013
1 May By Balance b/d 2,49,000
[XI – Accountancy] 264
Dr. Star Cloths Store Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
12, Apr. To Sales A/c 45,000 Apr. 30 By Balance c/d 45,000
45,000 45,000
2013
1 May To Balance b/d 45,000
Dr. Bhola Sons Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
12, Apr. To Sales Book 2,45,000 Apr. 15 By Bank A/c 1,50,000
Apr. 30 By Balance c/d 95,000
2,45,000 2,45,000
2013
1 May To Balance b/d 95,000
Dr. Advertisement Expenses Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
10, Apr. To Cash A/c 12,500 Apr. 30 By Balance c/d 12,500
12,500 12,500
2013
1 May To Balance b/d 12,500
Dr. Printing & Stationary Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
23, Apr. To Bank A/c 2,000 Apr. 30 By Balance c/d 2,000
2013
30 May To Balance b/d 2,000
Dr. Carriage Inward Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
16, Apr. To Cash A/c 500 Apr. 30 By Balance c/d 500
2013
1 May To Balance b/d 500
265 [XI – Accountancy]
Dr. Wages Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
22, Apr. To Bank A/c 25,000 Apr. 30 By Balance c/d 25,000
2013
1 May To Balance b/d 25,000
Dr. Salaries Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
2013 2013
30, Apr. To Bank A/c 1,00,000 Apr. 30 By Balance c/d 1,00,000
1,00,000 1,00,000
2013
1 May To Balance b/d 1,00,000
Trial Balance as on April 30, 2013
Particulars Dr. R.s Cr. Rs.
Cash A/c 1,67,000 -
Bank A/c 5,05,000 -
Capital A/c - 10,00,000
Drawing A/c 3,000 -
Furniture A/c 5,00,000 -
Purchases A/c 3,69,000 -
Sales A/c - 6,15,000
Office equipment A/c 70,000 -
Printing & Stationary A/c 2,000 -
Advertisement Expenses A/c 12,500 -
Carriage Inward A/c 500 -
Wages A/c 25,000 -
Salary A/c 1,00,000 -
Gupta Furniture - 30,000
[XI – Accountancy] 266
Gwalior Textile - 2,49,000
Star cloth store 45,000
Bhola Sons 95,000
Total 18,94,000 18,94,000
Trading and Profit & loss Account
Dr. for Month of April 2013 Cr.
Particulars Amount Particulars Amount
To Purchase 3,69,000 By Sales 6,15,000
To carriage inward 500 By closing stock 75,000
To wages 25,000
To Gross Profit 2,95,500
6,90,000 6,90,000
To Salary 1,00,000 By Gross Profit 2,95,500
To Printing & Stationary 2,000
To Advertise Exp. 12,500
To Net Profit transfered 1,81,000
2,95,500 2,955,00
Dr. Balance Sheet as on April 30, 2013 Cr.
Liabilities Amount Assets Amount
Capital 10,00,000 Fixed Assets
Add.No. Brofit +1,81,000 Furniture 5,00,000
11,81,000 Office exquipment 70,000
Less Drawing -3,000 11,78,000 Current Assets
S. Debtors 1,40,000
Current Liabilities Cash 1,67,000
Bank 5,05,000
S.Creditors 2,79,000 Stock 75,000
14,57,000 14,57,000
267 [XI – Accountancy]
PIE CHART
Comparison of Direct Expenses and Gross profit with Net Sales.
Gross profit
48.05%Direct Exp
51.95%
Amount Percentage Degree
Sales 6,15,000 100% 360°
Direct Exp. 3,19,500 51.95% 187°
Gross Profit 2,95,500 48.05% 173°
Comparision of all Expenss, net profit with Sales.
D irected & Indirect
Ex p.70.6%
N et P ro fit
29.4 %
Amount Percentage Degree
Sales 6,15,000 100% 360°
Direct & Indirect Exp. 4,34,000 70.6% 254°
Net Profit 1,81,000 29.4% 106°
[XI – Accountancy] 268
PROJECT - 2
COMPREHENSIVE
Source Material : ‘Lakshika Herbal Beauty products’ project statement
A reputed Management Institute in assistance with Entrepreneur Skill
Development Ltd. (ESDL) Organised a camp for the students pursuing BBA,
BBS, MBA or other professional courses to encourage entrepreneurial skills.
This Institute and ESDL, displayed 50 small business projects which could be
started with an investment of Rs. 20,00,000. The ESDL also promised to buy
the entire production of the first year. It promised to supply the required
machinery and at a much subsidised rates. It also had a scheme to give loans
up to 50% of the working capital requirement.
A large number of people visited the camp. There were project
demonstrations by ESDL advisors and experts. Lakshika who was pursuing
BBS from the same Management Institute, also attended the Camp because
she was inclined to start her own business. Lakshika was very impressed by
the demonstration of the small business project on Herbal beauty products.
The project was economically viable. She was convinced that she will defiitely
succeed in carrying out the project. She entered into agreement with the ESDL
who agreed to arrange supplier of the necessary plant for Rs. 60,000 on turnkey
basis. She had sufficient open space at her residence in a colony. She got the
machine fixed and the payment was made in the installments of Rs. 10,000
annually over a period of six years, She went through the literature provided
by the ESDL and searched various websites to know the addresses of the raw
materials. She placed necessary orders for the raw material and arranged for
workers who will operate the machine and do other necessary orders for the
raw material and arranged for workers who will operate the machine and do
other necessary production work. She set up a small workable office and
decided to do all office work herself. All supplies were on a credit for two
weeks.
269 [XI – Accountancy]
She formally inaugurated the production on April 1,2001. She invited all
her friends, relatives and neighbor and other residents of her colony on the
very first day and distributed free samples of the herbal face wash produced
in her small factory. It was very reasonably priced. The price was very much
lower than other brands in the market. She visited ten other colonies around
her colony. She told the people there, as to how her herbal beauty products are
better than others. She liberally distributed free samples to all the residents of
colony. Her product was really good and was accepted by all those who used.
It. Within three months she could sell whatever she produced every week.
Her initial investment was Rs. 80,000 out of which she paid the first
installment of plant on April I, 2011. She opened a Bank Account with Rs.
60,000 on the same date. She had an old e-bike worth Rs. 20,000 which she
decided to use in her business. She also purchased furniture for Rs. 12,000.
Thus, her total investment was Rs. 1,00,000. The payments to suppliers were
made on the 15th and 30th of each months. The salaries and wages were paid
only on the 7th of each month. The sales were mostly for cash. The cash sale
was deposited in the bank the next day. The sale to local customers was on
credit for one week. All the customers were honest and paid the amount as and
when due.
The following expenses incurred and revenue realized during the year
ended march 31, 2012.
Rs.
1. Raw Material purchased on credit 12,00,000
2. Cash paid to the suppliers 9,80,000
3. Cash sales 16,00,000
4. Wages paid for eleven months 2,31,000
5. Office expenses 19,000
6. Power bills paid 25,000
7. Drawings 2,52,000
8. Packing and distribution expenses 10,000
9. Cash received from customers 4,25,000
[XI – Accountancy] 270
Other balances as on March 31, 2012 were as follows :
Rs.
1. Closing stock 25,000
2. Plant 60,000
3. Furniture 12,000
4. Debtors 75,000
5. E-bike 20,000
Depreciation was charged @ 10% p.a. on both plant and furniture and @
20% on e-bike. Salaries are outstanding for one month. Free samples were
distributed amounting Rs. 12,000.
Required
Judge the performance of Lakshita during her first year in business.
Processing the information
Journal
Date Particulars L.F. Dr. Rs. Cr. Rs.
2011
Apr.., 1 Plant A/c Dr. 60,000
To vender (ESDL) A/c 60,000
(Being a plant purchased on
installment basis from the ESDL)
E-bike A/c Dr. 20,000
Cash A/c Dr. 80,000
To capital A/c 1,00,000
(Being the amount introduced
as capital both in cash and in
the from of e-bike)
Vendor (ESDL) A/c Dr. 10,000
To cash A/c 10,000
(Being the first installment paid to the ESDL)
271 [XI – Accountancy]
Bank A/c Dr. 60,000
To cash A/c 60,000
(Being the bank account opened)
Furniture A/c Dr. 12,000
To Bank A/c 12,000
(Being furniture purchased)
Bank A/c Dr. 16,00,000
To Sales A/c 16,00,000
(Being cash sales during the year)
Debtors A/c Dr. 5,00,000
To Sales A/c 5,00,000
(Being credit sales during the year.
See debtors accounts)
Bank A/c Dr. 4,25,000
To Debtors A/c 4,25,000
(Being cash received from debtors)
Purchases A/c Dr. 12,00,000
To creditors A/c 12,00,000
(Being raw material purchased in
credit)
Creditors A/c Dr. 9,80,000
To Bank A/c 9,80,000
(Being of payment made to creditors)
Wages A/c Dr. 2,31,000
To Bank A/c 2,31,000
(Being wages paid for 11 months)
Office expenses A/c Dr. 19,000
To Bank A/c 19,000
(Being office expenses paid)
Power expenses A/c Dr. 25,000
To Bank A/c 25,000
(Being power expenses paid)
Drawings A/c Dr. 2,52,000
[XI – Accountancy] 272
To bank A/c 2,52,000
(Being the amount drawn for
personal use)
Packing and Distribution A/c Dr. 10,000
To Bank A/c 10,000
(Being packing and distribution expenses paid)
Ledger
Dr. Capital Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012 To Balance c/d 1,00,000 2011
31, Mar. April 1 By Cash A/c 80,000
April 1 By E-bike A/c 20,000
1,00,000 1,00,000
2002
April 1 By Balance b/d 1,00,000
Dr. Cash Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012 To Capital 80,000 2011
1, Apr. Apr. 1 By Bank A/c 60,000
Apr. 1 By Vendor (ESDL) 10,000
2012
Mar. 31 By balance c/d 10,000
80,000 80,000
Dr. Bank Account Cr.
Date Particulars Rs. Date Particulars Rs.
2011
2012 To Cash A/c 60,000 Apr. 1 By furniture A/c 12,000
Apr. 1 To sales 16,00,000 Apr. 1 By creditors A/c 9,80,000
To debtors 4,25,000 By wages A/c 2,31,000
By office expenses A/c 19,000
By power expenses A/c 25,000
By drawings A/c 2,52,000
273 [XI – Accountancy]
By packing and
distribution expenses A/c 10,000
2012
Mar. 31 By Balance c/d 5,56,000
2012 20,85,000 20,85,000
Apr.1 To Balance 5,56,000
Dr. Plant Account Cr.
Date Particulars Rs. Date Particulars Rs.
2011 2012
Apr. 1 To Vendor (ESDL) 60,000 Mar. 31 By Balance c/d 60,000
Dr. Vendor (ESDL) Cr.
Date Particulars Rs. Date Particulars Rs.
2011 2011
Apr. 1 To Cash A/c 10,000 Apr. 1 By Plant A/c 60,000
2012
Mar. 31 To Balance c/d 50,000
60,000 60,000
2012
Apr. 1 By Balance b/d 50,000
Dr. Furniture Account Cr.
Date Particulars Rs. Date Particulars Rs.
2011 2012
Apr. 1 To Bank A/c 12,000 Mar. 31 By Balance c/d 12,000
12,000 12,000
2012
Apr. 1 To Balance b/d 12,000
Dr. Sales Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012 -
Mar., 31 To Trading A/c 21,00,000 - By Bank A/c 16,00,000
By debtors A/c 5,00,000
21,00,00 21,00,000
[XI – Accountancy] 274
Dr. Debtors Account Cr.
Date Particulars Rs. Date Particulars Rs.
- To sales A/c 5,00,000 - By Bank A/c 4,25,000
(Balancing fig.)
2012
Mar. 31 By balance c/d 75,000
5,00,000 5,00,000
2012
Apr.1 To balance b/d 75,000
Dr. Wages Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012
- To Bank A/c 2,31,000 Mar. 31 By Trading A/c 2,31,000
2,31,000 2,31,000
Dr. E-Bike Account Cr.
Date Particulars Rs. Date Particulars Rs.
2011 2012
Apr. 1 To Capital A/c 20,000 Mar. 31 By Balance c/d 20,000
20,000 20,000
2012
Apr. 1 To Balance b/d 20,000
Dr. Purchases Account Cr.
Date Particulars Rs. Date Particulars Rs.
12,00,000 2012
- To creditors Mar. 31 By Trading A/c 12,00,000
12,00,000 12,00,000
Dr. Creditors Account Cr.
Date Particulars Rs. Date Particulars Rs.
- To Bank A/c 9,80,000 - By Purchase A/c 12,00,000
2012
Mar. 31 To Balance c/d 2,20,000
12,00,000 12,00,000
2012
Apr. 1 By balance b/d 2,20,000
275 [XI – Accountancy]
Dr. Office Expenses Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012
- To Bank A/c 19,000 Mar. 31 By profit and loss A/c 19,000
19,000 19,000
Dr. Power Expenses Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012
- To bank A/c 25,000 Mar. 31 By profit and loss A/c 25,000
25,000 25,000
Dr. Drawings Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012
- To Bank A/c 2,52,000 Mar. 31 By Balance A/c 2,52,000
2,52,000 2,52,000
2012
Apr. 1 To Balance b/d 2,52,000
Dr. Packing and Distribution Expenses Account Cr.
Date Particulars Rs. Date Particulars Rs.
2012
- To Bank A/c 10,000 Mar. 31 By Profit and Loss A/c 10,000
10,000 10,000
Trial Balance
Particulars Rs. Particulars Rs
Cash A/c 10,000 Capital A/c 1,00,00
Bank A/c 5,56,000 Vendor (ESDL) 50,000
Plant A/c 60,000 Sales A/c 21,00,000
Furniture A/c 12,000 creditors 2,20,000
Debtors A/c 75,000
Wages A/c 2,31,000
E-bike A/c 20,000
Purchase A/c 12,00,000
[XI – Accountancy] 276
Office expense A/c 19,000
Power expenses A/c 25,000
Drawings A/c 2,52,000
Packing and distribution
expenses A/c 10,000
24,70,000 24,70,000
Adjustments required :
• Unsold stock is Rs.25,000
• Free samples were distributed worth Rs. 12,000
• Depreciation at the rate of 10% on plant and furniture and at the rate
of 20% on e-bike
• Wages are outstanding for one month.
Adjustment entries :
Journal
Date Particulars L.F. Dr. Rs. Cr. Rs.
2012 Stock A/c Dr. 25,000
Mar. 31 Free Samples A/c Dr. 12,000
37,000
To Trading A/c
(Being the amount of closing stock
and stock distributed as free samples)
i. Depreciation A/c Dr. 11,200
To Plant (@ 10%) 6,000
To Furnitures (@ 10%) 1,200
To e-bike (@ 20%) 4,000
(Being the amount of depreciation
charged)
ii. Wages A/c Dr. 21,000
To wages outstanding A/c 21,000
(Being the wages due for one month)
Note : the wages paid Rs. 2,31,000 are
for eleven month.
Therefore wages for one month are
2,31,000/11 = Rs. 21,000
277 [XI – Accountancy]
Trading and Profit & Loss account
Dr. for the year ended on March 31, 2012 Cr.
Particulars Rs. Particulars Rs
To Purchases 12,00,000 By Sales 21,00,000
To Wages 2,31,000 By Closiong Stock 25,000
Add : Outstanding 21,000 2,52,000 By Stock Distributed as
To Power Expenses 25,000 Free Samples 12,000
To Gross Profit 6,60,000
21,37,000 21,37,000
To Free Samples (Advertising) 12,000 By Gross Profit 6,60,000
To Office Expenses 19,000
To Packing and Distribution 10,000
Expenses
To Depreciation on :
Plant 6,000
Furniture 1,200
E-bike 4,000 11,200
To Net Profit 6,07,800
6,60,000 6,60,000
Balance sheet of Lakshika
As on 31st March, 2012
Liabilities Rs. Assets Rs
Capital 1,00,000 Plant 60,000
Add : Net profit 6,07,800 Less : depreciation 6,000 54,000
7,07,800
Less : drawings 2,52,000 4,55,800 Furniture 12,000
Vender (ESDL) 50,000 Less : depreciation 1,200 10,800
Wages outstanding 21,000 E-bike 20,000
Creditors 2,20,000 Less : depreciation 4,000 16,000
Debtors 75,000
Stock 25,000
Cash 10,000
Bank 5,56,000
7,46,800 7,46,800
[XI – Accountancy] 278
PROJECT -3
COMPREHENSIVE PROJECT
Mr. Deepak, after completing his graduation wants to start his own business
but he was little bit confused which business to start. Moreover, he was short
of funds also as only Rs.2,00,000 (to be used in business) were available with
him, which he saved by doing part time jobs during his graduation. He discussed
the matter with his father, Mr. Mahesh, a Bank Manager and decided to start
a shop dealing in man’s wear from 1st April 2012 His father also help him
in raising loan of Rs.10,00,000 from xyz Bank against his personal guarantee.
On 5th April 2012, Mr. Deepak opens a Bank A/c with Rs. 5,000 in xyz Bank
credited his Bank A/c with the amount of loan on 1st June 2012, after completing
all formalities, which is to be repaid in Ten equal yearly installments alongwith
with interest @ 12% p.a. on 31st March every year. Same day he purchased
a computer for Rs. 50,000 to maintain all the records regarding purchase, sales
and stock and make the payment by cheque. He also deposited Rs. 45,000 in
Bank.
It was also decided that all the purchases are to be made by cheques and
all receipts on account of sales were to be deposited into Bank. He named his
business as M/s Rajasthan Man’s wear and entered into a contract with a
distributer of Man’s wear on 15th June 2012. The distributer want him to make
all the payments with regard to the orders in advance. Mr. Deepak’s transactions
for the year ending on 31st March 2013 were as follows.
Rs.
Purchases (on 15 June 12) 15,00,000
Sales 25,00,000
Staff Salary 2,00,000
Telephone Expenses 50,000
Electricity charges 1,00,000
279 [XI – Accountancy]
Packing charges 25,000
Insurance 1,00,000
Rent (Rs. 10,000 p.m.) 1,20,000
Carriage Inward. 55,000
Furniture purchased (on 1st June 12) 1,00,000
25% payment for furniture was made by cash and rest by cheque. All the
expenses were paid by cheque. Furniture and computer were depreciated @12%
p.a. The closing stock on 31st Mar. 2013 was valued at Rs. 1,00,000. A plot/
land for Rs.10,00,000 was also purchased on that day to construct shop in
future. you\are required to :
(1) journalise the transactions.
(2) Post all the items to the relevant Ledger Accounts
(3) Prepare Trial Balance.
(4) Prepare Trading and Profit & Loss A/c and Balance sheet at the end of
the year.
Journal
Date Particulars L.F. Dr. Rs. Cr. Rs.
2012
Apr.. 1 Cash A/c Dr. 2,00,000
T Capital A/c 2,00,000
(Being business commenced)
Apr. 5 Bank A/c Dr. 5,000
To cash A/c 5,000
(Being Bank A/c opened)
June 1 Bank A/c Dr. 10,00,000
To Bank Loan A/c 10,00,000
(Being Bank Loan raised)
June 1 Computer A/c Dr. 50,000
To Bank A/c 50,000
(Being computer, purchased)
[XI – Accountancy] 280
June 1 Bank A/c Dr. 45,000
To cash A/c 45,000
(Being cash deposited into Bank)
June 1 Furniture A/c Dr. 1,00,000
To Cash A/c 25,000
To Bank A/c 75,000
(Being furniture purchased & Payment
made in cash & by cheque)
June 15 Purchases A/c Dr. 15,00,000
To Bank A/c 15,00,000
(Being purchase made)
Mar. 31 Bank A/c Dr. 25,00,000
To Sales A/c 25,00,000
(Being sales made)
Mar. 31 Staff salary A/c Dr. 2,00,000
To Bank A/c 2,00,000
(Being staff salary paid)
Mar. 31 Telephone expenses A/c Dr. 50,000
To Bank A/c 50,000
(Being Telephone Expenses Paid)
Mar. 31 Electricity charges A/c Dr. 1,00,000
To Bank A/c 1,00,000
(Being electricity charges Paid)
Mar. 31 Packing charges A/c Dr. 25,000
To Bank A/c 25,000
(Being Packing Charges Paid)
Mar. 31 Insurance A/c Dr. 1,00,000
To Bank A/c 1,00,000
(Being Insurance Paid)
Mar. 31 Rent A/c Dr. 1,20,000
To Bank A/c 1,20,000
(Being rent Paid)
Mar. 31 Carriage Inward A/c Dr. 55,000
To Bank A/c 55,000
(Being carriage inward Paid)
281 [XI – Accountancy]
Mar. 31 Bank loan A/c Dr. 1,00,000
Interest on loan A/c Dr. 1,00,000
To Bank A/c 2,00,000
(Being installment & interest
loan paid)
Mar. 31 Depreciation A/c Dr. 15,000
To Furniture A/c 10,000
To Computer A/c 5000
(Being depreciation charged on
furniture and computer)
Mar. 31 Land A/c Dr. 10,00,000
To Bank A/c 10,00,000
(Being plot land Purchased)
Dr. Capital Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Balance c/d 2,00,000 1.4.12 By Cash A/c 2,00,000
2,00,000 2,00,000
1.4.13 By Balance b/d 2,00,000
Dr. Cash Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
1.4.12 To Capital A/c 2,00,000 5.4.12 By Bank A/c 5,000
1.6.12 By Bank A/c 45,000
1.6.12 By Furniture A/c 25,000
By Balance 1,25,000
2,00,000 2,00,000
1.4.13 To Balance b/d 1,25,000
Dr. Bank Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
5.4.12 To Cash A/c 5,000 1.6.12 By Computer A/c 50,000
1.6.12 To Bank Loan
A/c 10,00,000 1.6.12 By Furniture A/c 75,000
1.6.12 To Cash A/c 45,000 15.6.12 By Purchase A/c 15,00,000
31.3.13 To sales A/c 25,00,000 31.3.13 By staff salary A/c 2,00,000
[XI – Accountancy] 282
31.3.13 By Telephone A/c 50,000
31.3.13 By Electricity A/c 1,00,000
31.3.13 By Packing Charge
A/c 25,000
31.3.13 By Insurance 1,00,000
31.3.13 By Rent A/c 1,20,000
31.3.13 By Carriage A/c 55,000
31.3.13 By Bank loan A/c 1,00,000
31.3.13 By Interest on loan
A/c 1,00,000
31.3.13 By Land A/c 10,00,000
31.3.13 By Balance c/d 75,000
35,50,000 35,50,000
To Balance b/d 75,000
Dr. Bank Loan Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 1,00,000 1.6.12 By Bank A/c 10,00,000
T Balance c/d 9,00,000
10,00,000 10,00,000
1.4.13 By Balance b/d 9,00,000
Dr. Purchases Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
15.6.12 To Bank A/c 15,00,000 31.3.13 By Balance c/d 15,00,000
15,00,000 15,00,000
1.4.13 To Balance b/d 15,00,000
Dr. Sales Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Balance c/d 25,00,000 31.3.13 By Bank A/c 25,00,000
25,00,000 25,00,000
1.4.13 By Balance b/d 25,00.000
Dr. Computer Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
1.6.12 To Bank A/c 50,000 31.3.13 By Depreciation A/c 5,000
283 [XI – Accountancy]
31.3.13 By Balance c/d 45000
50,000 50,000
1.4.13 To Balance b/d 45,000
Dr. Furniture Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
1.6.12 To Cash A/c 25,000 31.3.13 By Depreciation A/c 10,000
1.6.12 To Bank A/c 75,000 31.3.13 By Balance b/d 90,000
1,00,000 1,00,000
1.4.13 To Balance b/d 90,000
Dr. Staff Salary Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 2,00,000 1.6.12 By Balance c/d 2,00,000
2,00,00 2,00,000
1.4.13 To Balance b/d 2,00,000
Dr. Telephone Expenses Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 50,000 31.3.13 By Balance c/d 50,000
50,000 50,000
1.4.13 To Balance b/d 50,000
Dr. Electricity Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 1,00,000 31.3.13 By Balance A/c 1,00,000
1,00,000 1,00,000
1.4.13 To Balance b/d 1,00,000
Dr. Packing Charges Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 25,000 31.3.13 By Balance c/d 25,000
25,000 25,000
1.4.13 To Balance/d 25,000
[XI – Accountancy] 284
Dr. Insurance Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 1,00,000 1.6.12 By Computer A/c 1,00,000
1,00,000 1,00,000
1.4.13 To Balance b/d 1,00,000
Dr. Rent Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 1,20,000 1.6.12 By Computer A/c 1,20,000
1,20,000 1,20,000
1.4.13 To Balance b/d 1,20,000
Dr. Carriage Inward Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 55,000 31.3.13 By Balance A/c 55,000
55,000 55,000
1.4.13 To Balanace b/d 55,000
Dr. Interest Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 1,00,000 31.3.13 By Balance A/c 1,00,000
1,00,000 1,00,000
1.4.13 To Balance b/d 1,00,000
Dr. Depreciation Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Furniture A/c 10,000 31.3.13 By Balance c/d 15,000
To Computer A/c 5,000
15,000 15,000
1.4.13 To Balance b/d 15,000
Dr. Land Account Cr.
Date Receipts J.F. Rs. Date Particulars J.F. Rs.
31.3.13 To Bank A/c 10,00,000 31.3.13 By Balance A/c 1,00,000
10,00,000 1,00,000
1.4.13 To Balance b/d 10,00,000
285 [XI – Accountancy]
Trial Balance as on 31.3.2013
Particulars Debit Balance Credit Balance
Capital A/c 2,00,000
Cash A/c 1,25,000
Bank A/c 7,5000
Bank Loan A/c 9,00,000
Purchase A/c 15,00,000
Sales A/c 25,00,000
Computer A/c 45,000
Furniture A/c 90,000
Staff Salary A/c 2,00,000
Telephone Expenses A/c 50,000
Electricity Charges A/c 1,00,000
Packing charges A/c 25,000
Insurance A/c 1,00,000
Rent A/c 1,20,000
Carriage inward A/c 55,000
Interest on Loan A/c 1,00,000
Depreciation A/c 15,000
Land A/c 10,00,000
36,00,000 36,00,000
Dr. Trading and profit & loss A/c for the year ending on 31.3.2013 Cr.
Particulars Rs. Particulars Rs
To Purchases 15,00,000 By Sales 25,00,000
To carriage 55,000 By closing Stock 1,00,000
To Gross Profit 10,45,000
26,00,000 26,00,000
To Staff salary 2,00,000 By Gross profit 10,45,000
To Telephone expenses 50,000
To Electricity charges 1,00,000
To Packing charges 25,000
To Insurance 1,00,000
To Rent 1,20,000
[XI – Accountancy] 286
To Interest on loan 1,00,000
To Depreciation 15,000
To Net profit 3,35,000
10,45,000 10,45,000
Dr. Balance sheet as at 31.3.2013 Cr.
Particulars Rs. Particulars Rs
Capital 2,00,000 Land 10,00,000
Add : Net Profit 3,35,000 5,35,000 Furniture 90,000
Computer 45,000
Bank Loan 9,00,000 Closing Stock 1,00,000
Bank 75,000
Cash 1,25,000
14,35,000 14,35,000
28
26
24
22
20
18
16
14
12
10
8
6
4
2
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