Trial Balance

Trial Balance For 1/4/2010 f Gajanan Enterprises Particulars Capital Account SATISH SHAH SATISH DRAWING JITESH DRAWING JITESH SHAH Bank OD Account HDFC BANK OVERDRAFT Secured Loan TERM LOAN FROM I.D.B.I. Unsecured Loan LOAN MRS. SATISH SHAH LOAN MRS. JITESH SHAH Duties & Taxes SALES TAX Current Liabilities BILLS PAYABLE EXPENCE PAYABLE OUTSTANDING SALARY PROVISION FOR DOUBTFUL DEBTS Fixed Assets BUILDING GARAGE GOODWILL LAND MACHINERY MOTOR CAR PLANT 1 PLANT 2 Investment 100000 30000 10000 100000 10000 40000 20000 30000 10000 4000 2000 2000 4000 30000 30000 Debit Credit

50000 10000 10000 50000

50000

200000

ABC SHARES XYZ DEBENTURES cash in Hand PETTY CASH Stock In Hand OPENING STOCK Bank account BANK OF INDIA HDFC BANK Current Assets BILLLS RECIEVABLE TOTAL

8000 8000

2000

30000

4000 10000

10000 432000 432000

Journal Entries
1 Vaishali and Kanchan Started business with Rs.50000/- and 25000/- cash respectively. voucher type Entry Receipt(F6) Cash a/c-------------Dr 75000 To Vaishali capital A/c 50000 To Kanchan capital A/c 25000 2 Purchased Furniture on credit from Keerti Rs. 5000/voucher type Entry Journal (F7) Furniture A/c -------Dr To Keerti A/c 3 Purchase Machinery in cash Rs. 5000/voucher type Entry Payment(F5) Machinery A/c ----Dr To cash A/c 4 Appointment of telephone Operator on Rs. 2500/- Salary Group --Capital A/c Capital A/c

5000

Group Fixed Assets 5000 Sundry Creditor

5000

Group Fixed Assets 5000 ---

5 Purchase goods Rs. 7500/voucher type Payment(F5)

Entry Purchase a/c-----Dr To cash A/c

7500

Group Purchase a/c 7500 ---

6 Sold Goods worth Rs. 10000/voucher type Receipt(F6)

Entry Cash a/c------Dr To Sales a/c

10000

Group --10000 Sales a/c

7 Paid Electricity Rs. 1250/voucher type Payment(F5)

Entry Electricity A/c -----Dr To Cash A/c

1250

Group Indirect Exp. 1250 ---

8 Paid Rent Rs. 550/voucher type Payment(F5)

Entry rent a/c -----Dr To Cash a/c

550

Group Indirect Exp. 550 ---

9 Received Commision Rs. 600/voucher type Receipt(F6)

Entry Cash A/c ----Dr To Commision A/c

600

Group --600 Indirect Inc.

10 Taken Loan From Suchita Rs. 25000/- 2% interest rate voucher type Entry Receipt(F6) Cash a/c ---Dr To suchita a/c 11 Given Loan to Medha Rs. 20000 on 4% Interest rate voucher type Entry Payment(F5) Medha a/c ---Dr Cash a/c 12 Travelling Expenses Rs 750/voucher type Payment(F5)

25000

Group --25000 Loan(Liability)

20000

Group Loans & Assets 20000 ---

Entry Travelling Exp. A/c----Dr To Cash a/c

750

Group Indirect Exp. 750 ---

13 Paid 5000/- To keerti. voucher type Payment(F5)

Entry Keerti A/c ----Dr To Cash a/c

5000

Group --5000 ---

14 2% Interest Paid to suchita voucher type Payment(F5)

Entry Interest (Exp)---Dr To cash a/c

500

Group Indirect Exp 500 ---

15 4% Interest Received from Medha voucher type Entry Receipt(F6) Cash a/c ----Dr To Interest (Inc) 16 Paid Salary to telephone operator voucher type Entry Payment(F5) Salary a/c -----Dr To Cash a/c 17 Purchase Computer Rs. 15000/voucher type Payment(F5)

800

Group --800 Indirect Income

2500 2500

Group Indirect Exp

Entry Computer A/c ----Dr To cash A/c

15000

Group Fixed Asstes 15000 ---

18 Open A/c in Bank of India Rs. 500/voucher type Entry Contra(F4) Bank of India A/c -----Dr To cash a/c 19 Cash Deposit In Bank Rs. 1500/voucher type

500

Group Bank Account 500 ---

Entry

Group

Contra(F4)

Bank of India A/c -----Dr To cash a/c

1500

--1500 ---

20 Cash Withdrawal Rs. 1000 voucher type Contra(F4)

Entry Cash a/c ----Dr To bank of India a/c

1000

Group --1000 ---

BALANCESHEET
Liabilities Capital account Vaishali capital a/c Kanchan capital a/c Loans (Liabilities) Suchita a/c Current Liabilities Sundry Creditors Amount Assets 75000 Fixed Asstes 50000 Computer a/c 25000 Furniture a/c Machinery a/c 25000 25000 Current Assets Loans & Advances Cash in Hand Bank account Net Loss 100000 Amount 25000 15000 5000 5000 73350 20000 52250 1000 1650 100000

d Fixed Assets Sundry Creditor d Fixed Assets

d Purchase a/c

d Indirect Exp.

d Indirect Exp.

Indirect Inc.

Loan(Liability) d Loans & Assets

d Indirect Exp.

d Indirect Exp

d Indirect Income d Indirect Exp

d Fixed Asstes

done Bank Account

Bill Wise Details

1st April 2005 1 Purchase Goods worth Rs 50000/- on credit basis from Soham Bill No. P1 2 Sold Goods worth Rs. 100000/- on credit basis to Omkar Bill No. S1. 3 Purchase Goods worth Rs 40000/- on credit basis from Akshay Bill No. P2 4 Sold Goods worth Rs. 80000/- on credit basis to Sanjay Bill No. S2. 5 Purchase Goods worth Rs 10000/- on credit basis fromSoham Bill No. P3 6 Sold Goods worth Rs. 20000/- on credit basis to Omkar Bill No. S3. 7 8 1st June 2005 1 Paid Rs. 25000/- to Soham, Against Ref. P1 2 Received Rs. 50000/- from Omkar, Against Ref. S1 3 Paid Rs. 40000/- to Akshay, Against Ref. P2 4 Received Rs. 80000/- from Sanjay, Against Ref. S2 5 Paid to Soham, Bill No. P1 & p3. 6 Received from Omkar, Bill No. S1 & S3. 7 8

Advance Payment
1st April 2005 1 Purchase Goods worth Rs 10000/- on credit basis from Santosh Bill No. P11 2 Paid Advance to Sony Rs. 20000/- for goods ordered Bill No. P12 3 Sold Goods worth Rs. 25000/- on credit basis to Sagar Bill No. S11. 4 Received Advance from Kamal Rs. 50000/- for Goods ordered Bill. No. S12 5 Goods Purchased (Delivered) from Sony worth Rs. 50000/- Bill. No. P12 6 Sold Goods (Delivered) to Kamal worth Rs. 75000/- Bill No. S12 1st June 2005 7 Paid to Santosh Rs. 5000/- Bill No. P11 8 Paid to Sony Advance Payment to be adjusted 9 Paid Balance to santosh Bill. No. P11 10 Received Rs. 25000/- from Sagar Bill No. S11 11 Received From kamal Advance Payment to be Adjusted.

Sales & Purchase with Products

Stock Information
Sales Products
1 Television Set 2 V.C.R.

Ledger Information
Sundry Debtors
1 2 3 4 5 6 7 8 Videocon International Ltd. B.P.L. Ltd Chetak Electronics Samsung Electronics Samtron Electronics Salora International Ltd. N.E.C. Ltd Mahavir Packaging Ltd.

Purchase Products
1 2 3 4 Picture Tubes Circuits Speakers Boxes

Sundry Creditors

Unit of measures
symbol - No's formal name - Numbers

Instructions
1 2 3 4

Create ICICI bank a/c with Opening balance Rs. 5000000/- (Group - Bank a Bharat Capital a/c with Opening balance Rs. 5000000/- (Group - Capital ac Loan from ICICI bank with Opening Balance Rs. 5000000/- ( Group - Loans Machinery Purchase worth Rs. 5000000/- (Group - Fixed Assets)

Transactions
Sales Transactions
Date 1-May 2-May 1-Jul 2-Jul 1-Sep 2-Sep 2-Sep 1-Oct 2-Oct 2-Oct 1-Jan 2-Jan 1-Mar 2-Mar (Assume One Month credit ) Transactions Sold 900 T.V. Sets @ Rs. 10000/- each to Videocon International Ltd. By Bill No. 1 Sold 1000 V.C.R. @ Rs. 5000/- each to B.P.L. Ltd. By Bill No. 2 Sold 500 T.V. Sets @ Rs. 10000/- each to Videocon International Ltd. By Bill No. 3 Sold 900 V.C.R. @ Rs. 4500/- each to B.P.L. Ltd. By Bill No. 4 Sold 500 T.V. Sets @ Rs. 10500/- each to Videocon International Ltd. By Bill No. 5 Sold 400 T.V. Sets @ Rs. 10500/- each to Chetak Electronics. By Bill No. 6 Sold 1000 V.C.R. @ Rs. 4500/- each to B.P.L. Ltd. By Bill No. 7 Sold 1000 T.V. Sets @ Rs. 10000/- each to Videocon International Ltd. By Bill No. 8 Sold 500 V.C.R. @ Rs. 4500/- each to Chetak Electronics, By Bill No. 9 Sold 500 T.V. Sets @ Rs. 10000/- each to B.P.L. Ltd. By Bill No. 10

Sold 150 T.V. Sets @ Rs. 10500/- each to Chetak Electronics, By Bill No. 11 Sold 150 V.C.R. @ Rs. 4500/- each & 1000 T.V. sets @ Rs. 10500/- each to Samsung Electronics, By Bill No. 12

Sold 100 T.V. Sets @ Rs. 10500/- each and 300 V.C.R. Sets @ Rs. 4500/- each to chetak Electronics, By Bill No. Sold 250 T.V. Sets @ Rs. 10500/- each and 200 V.C.R. Sets @ Rs. 4500/- each to Samsung Electronics, By Bill N

Purchase Transactions
1-Apr 2-Apr 1-Jun 2-Jun 1-Aug 2-Aug 1-Sep 2-Sep 1-Dec 2-Dec 1-Feb 2-Feb

(Assume Two Month credit )

Purchase 1000 Tubes @ Rs. 7000/- each from N.E.C. Ltd. By Bill No. 101 Purchase 2000 Tubes @ Rs. 1000/- each from Samtron Electronics ltd. By Bill No. SAM-25 Purchase 500 Tubes @ Rs. 7000/- each from N.E.C. Ltd. By Bill No. 102 Purchase 1000 Circuits @ Rs. 9000/- each from Samtron Electronics ltd. By Bill No. SAM-26 Purchase 1000 Tubes @ Rs. 7000/- each from N.E.C. Ltd. By Bill No. 103 Purchase 2000 Circuits @ Rs. 9000/- each from Samtron Electronics ltd. By Bill No. SAM-27 Purchase 1000 Tubes @ Rs. 7000/- each from N.E.C. Ltd. By Bill No. 104 Purchase 3000 Circuits @ Rs. 9000/- each from Samtron Electronics ltd. By Bill No. SAM-28 Purchase 1000 Tubes @ Rs. 7000/- each from N.E.C. Ltd. By Bill No. 105 Purchase 2000 Circuits @ Rs. 1000/- each from Samtron Electronics ltd. By Bill No. SAM-28 Purchase 500 Tubes @ Rs. 7500/- each from N.E.C. Ltd. By Bill No. 106 Purchase 1000 Circuits @ Rs. 1000/- each from Samtron Electronics ltd. By Bill No. SAM-29

Opening balance Rs. 5000000/- (Group - Bank account) ening balance Rs. 5000000/- (Group - Capital account) Opening Balance Rs. 5000000/- ( Group - Loans(liability) ) h Rs. 5000000/- (Group - Fixed Assets)

nal Ltd. By Bill No. 1

nal Ltd. By Bill No. 3

nal Ltd. By Bill No. 5

onal Ltd. By Bill No. 8

00/- each to Samsung Electronics, By Bill No. 12

Rs. 4500/- each to chetak Electronics, By Bill No. 13 Rs. 4500/- each to Samsung Electronics, By Bill No. 14

onics ltd. By Bill No. SAM-25

ronics ltd. By Bill No. SAM-26

ronics ltd. By Bill No. SAM-27

ronics ltd. By Bill No. SAM-28

ronics ltd. By Bill No. SAM-28

ronics ltd. By Bill No. SAM-29

Cost Centers
EXPENSES (INDIRECT) Below Rs. 3000/- Cash & Above Rs. 3000/- Bank Office Marleting 75% 25% Factory Stores Packaging 1 2 1 2 Salary to Staff Office Rent Electricity Office Stationary 20000/5000/5000/1000/20000/5000/300/20000/5000/5000/500/20000/5000/4000/1000/20000/25000/5000/4000/200/EXPENSES (DIRECT)

Below Rs. 3000/- Cash & Abo 80% 10% 10% APRIL 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2

APRIL

JUNE

1 Salary to Staff 1 Electricity Office 2 Stationary 1 2 1 2 1 2 1 2 1 1 2 1 2 Salary to Staff Office Rent Electricity Office Stationary Salary to Staff Office Rent Electricity Office Stationary Salary to Staff Purchase of Computer Office Rent Electricity Office Stationary

JUNE

AUG

AUG

OCT

OCT

DEC

DEC

FEB

EXPENSES (DIRECT) Below Rs. 3000/- Cash & Above Rs. 3000/- Bank

Wages to Workers Factory Rent Electricity machinery Servicing charges Wages to Workers Factory Rent Electricity machinery Servicing charges Wages to Workers Factory Rent Electricity machinery Servicing charges Wages to Workers Factory Rent Electricity machinery Servicing charges Wages to Workers Factory Rent Electricity machinery Servicing charges Wages to Workers Factory Rent Electricity machinery Servicing charges

100000/25000/20000 2000 200000 15000 10000 2500 100000 35000 40000 2800 150000 26000 22000 2100 100000 25000 20000 2000 100500 25500 20500 2050