N L U, O: Ational AW Niversity Disha

NATIONAL LAW UNIVERSITY, ODISHA
ACCOUNTANCY PROJECT WORK
Submitted to: Mr. A. B. Debasis Rout
(Asst. Prof.Of Finance)
Team:
Gouresh Patra(15bba021)
Hariom Kamal Singh (15bba022)
Hitesh Mallick (15bba025)
1|Page
Contents
Annexure-I............................................................................................................................................3
Introduction.......................................................................................................................................4
Transactions that took place in the financial year 2013-14................................................................5
Annexure- II........................................................................................................................................10
Journal.............................................................................................................................................11
Cash book........................................................................................................................................18
Annexure- III.......................................................................................................................................21
Ledger..............................................................................................................................................22
Annexure- IV.......................................................................................................................................35
Trial Balance...................................................................................................................................36
Annexure- V........................................................................................................................................37
Trading A/C.....................................................................................................................................38
Profit & Loss A/C............................................................................................................................38
Balance Sheet..................................................................................................................................39
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ANNEXURE-I
3|Page
INTRODUCTION
The business is of a Restaurant of Mr Shubham Awasthi who always had a dream of starting
his own business .So initially after working in Chinmay Pandey' s Restuarant he decided to
leave the job and start his own business.
He started a new business of Restruant on 1st April 2016 which deals with purchasing of raw
materials and selling of food items.
He named his Restaurant as Joint. He started the business with Cash of Rs. 10,00,000 and
Bank Balance Rs. 5,00,000.And then to improve the cash flow of the business he took a loan
of Rs. 5,00,000.
4|Page
TRANSACTIONS THAT TOOK PLACE IN THE FINANCIAL YEAR 2013-14:
APRIL
01-04-13 Started business with cash Rs.10, 00,000 and bank balance Rs.5,00,000
01-04-13 Purchased furniture (including fridge of Rs.60,000) worth Rs. 1,20,000 by cheque
and paid carriage charges Rs. 3,000 in cash
02-04-13 Purchased goods worth Rs.1,00,000 and paid by cheque
04-04-13 Sold goods of Rs. 15,000 and received cash
07-04-13 Purchased television of Rs.30,000 and paid by cheque
10-04-13 Purchased goods worth Rs. 50,000 from Mr. Brine Beverages
15-04-13 Took a loan of Rs. 5,00,000 from bank for a period of 5 years @ 10% p.a.
18-04-13 Sold Goods on credit Rs.20,000 to M/s Gautam& co.
23-04-13 Paid to Mr. Brine Beverages Rs.48,000 in full settlement of his account
29-04-13 Withdrew from bank for personal use Rs.15,000
MAY
02-05-13 Invested Rs.15,000 in shares and debentures and paid by cheque
06-05-13 M/s Gautam& co. returned goods worth Rs.2,000
10-05-13 Purchased goods from M/s Rishab and co. goods worth Rs.40,000
12-05-13 Paid Carriage charges Rs.1,000 in Cash
12-05-13 M/s Rishab& co. drew a bill, maturing within 2 months and the same was accepted
15-05-13 Cash Purchases Rs.5,000
18-05-13 Drew goods for personal use Rs.2,000
22-05-13 Cash Sales Rs.16,000
29-05-13 Paid Electricity Bill Rs.3,000 in Cash
5|Page
JUNE
01-06-13 Got insurance of shop and paid the premium of Rs.2,500 by Cheque
05-06-13 Credit sale to Mr. Joshi of Rs. 6,000
07-06-13 Mr. Joshi paid Rs.6,000 in cash.
13-06-13 Goods purchased from Mr. Virat worth Rs.25,000 and got Rs.1,000 as trade
discount
16-06-13 Paid to Mr. Virat by cheque
19-06-13 Sales of Rs.5,000 made to Mr. Sachin
24-06-13 Stationery and Postage charges Rs.500 paid by cash
30-06-13 Made credit sales to Mr. Mahindra of Rs. 25,000
31-05-13 Paid salary to employees Rs.30,000 in Cash
JULY
01-07-13 Drew a bill receivable on Mahindra, payable within 1 month, and he accepted the
same
01-07-13 Discounted the bill from bank @ 12% p.a.
04-07-13 M/s Gautam& co. became insolvent and only 50% amount was recovered from him
in Cash.
09-07-13 Dividend on investment received Rs.1,200 by Cheque
12-07-13 Paid the bills payable (12-04-13) by Cheque
15-07-13 Commission paid Rs. 2,000 by Cash
15-07-13 Paid interest of bank loan Rs.12,500 by Cheque
19-07-13 Purchased goods from Mr. Das Rs. 35,000
26-07-13 Paid to Mr.Das, received discount of Rs.2000 by Cheque
30-07-13 Bank paid interest Rs.2500 (Credited to Bank A/C)
30-07-13 Telephone bill paid Rs.3000 in Cash
6|Page
AUGUST
01-08-13 purchased a New delivery vehicle of Rs. 55,000 paid by Cash
01-08-13 Paid salary to Delivery Boy Rs.10,000 by Cash
01-08-13 B/R of Mahindra cleared off (01-06-13)
06-08-13 Extension of shop paid by cheque Rs.25,000
10-08-13 Sold goods to Nagesh Rs.7,000
15-08-13 Nagesh paid his entire due amount (Cash receipt)
18-08-13 Cash Sales of Rs. 4,000
23-08-13 Purchased goods worth Rs. 25,000 from Manas
31-08-13 Dividend cash on investment received Rs.500
SEPTEMBER
01-09-13 Sold goods Rs.14,000 and received cheque from Ganju
04-09-13 Cheque deposited in bank (Ganju)
07-09-13 Purchased goods from Parle Trading Co. of Rs.8,000
08-09-13 Repaired fridge Rs.1,000 paid in Cash
14-09-13 Refreshments provided to customer 300 paid in cash
17-09-13 Paid to Municipality as taxes Rs.1,500 by bank
20-09-13 Sold goods for cash Rs.500
26-09-13 Sekhar& co. purchased goods of Rs.Rs.4,000 (Sales)
30-09-13 Paid warehouse rent in Cash of Rs.18,000
OCTOBER
02-10-13 Purchased goods of Rs.6,000, received cash discount of 10% and paid in cash
06-10-13 Purchased investments of Rs. 5,000 by cheque
11-10-13Sekhar& co. became insolvent and no amount was received them
15-10-13 Paid interest on bank loan Rs.12,500
7|Page
15-10-13 Paid Rs.50,000 as installment to bank against loan
19-10-13 Sold goods of Rs.3,500 and received cash
25-10-13 goods sold to a customer for cash returned some goods and paid back Rs.500
30-10-13 Paid electricity bill 2,500 in Cash
NOVEMBER
01-11-13 Paid insurance premium Rs.2,500 by cheque
04-11-13 Paid to employees diwali bonus Rs.5,000 (debited to salary account) by Cheque
04-11-13 Sold goods to Dinesh on credit Rs.4,500
07-11-13 Money withdrawn for personal use Rs.3,000 from bank
14-11-13 Drew a bill receivable for Dinesh payable in a month.
17-11-13 Purchased goods from M/s Uncle chips of Rs. 6,500
17-11-13 Paid to M/s Uncle chips Rs.2,000 by Cash
23-11-13 Handed over bill receivable of Rs.4,500 to M/s Uncle chips
DECEMBER
01-12-13 Paid salary to Delivery Boy Rs.10,000 Cash
02-12-13 Stationery and postage charges Rs.500, paid in Cash
05-12-13 Purchased from M/s Maggie Ltd. goods worth Rs.12,000
07-12-13 Returned goods to M/s Maggie Ltd. Rs.2,000
14-12-13 Dinesh didn’t paid the amount to M/s Uncle chips
19-12-13 Cash sales Rs.1,500
24-12-13 Deposited in bank Rs.5,000
8|Page
JANUARY
01-01-14 Paid sales tax Rs.10,000 in Cash
04-01-14 Cash sales Rs.3,000
09-01-14 Sold investments costing Rs.5,000 in Rs.7,000 and received cheque
13-01-14 Paid commission to broker Rs.500 in Cash
21-01-14 Purchased goods worth Rs.2,000 by Cash
28-01-14 Warehouse rent Rs.18,000 paid in cash
FEBRUARY
02-02-14 Paid instalment of bank loan Rs.50,000
04-02-14 Sold goods to Ashwin on credit Rs.20,000 and allowed trade discount of Rs. 1,000
09-02-14 Goods worth Rs.1,000 were destroyed by fire
14-02-14 Miscellaneous expenses Rs. 3,000 paid in cash
18-02-14 Goods purchased from Pradyuman on credit Rs.12,000
25-02-14 Sold to Nagesh goods Rs. 3,000
MARCH
01-03-14 Sold goods for cash 10,000
05-03-14 Donated goods in Orphanage House Rs.10,000
13-03-14 Vehicle met with an accident and repairing charges incurred Rs.2,500, paid in cash
18-03-14 Paid telephone bill Rs.4,000, in cash
23-03-14 Goods worth Rs.7,000 purchased and paid immediately by issuing a cheque
26-03-14 Advertisement expenses amounted to Rs.1,000, paid in cash
29-03-14 Made cash sales of Rs. 4,000
31-03-14 Depreciation to be charged on furniture and weighing machine and vehicle @10%
p.a
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ANNEXURE- II
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IN THE BOOKS OF KANPUR PROVISION STORE
JOURNAL
DATE PARTICULARS L DEBIT (in Rs.) CREDIT (in Rs.)
01-04-13 Cash A/c Dr. 10,00,000

Bank A/c Dr. 5,00,000
15,00,000
To Capital A/c
01-04-13 Furniture A/c Dr. 1,23,000

To Bank A/c 1,20,000
To Cash A/c 3,000
02-04-13 Purchases A/c Dr. 1,00,000

To Bank A/c 1,00,000
04-04-13 Cash A/c Dr. 15,000

To Sales A/c 15,000
07-04-13 Weighing Machine A/c Dr. 30,000

To Bank A/c 30,000
10-04-13 Purchases A/c Dr. 50,000

To M/s Brine Beverages A/c 50,000
15-04-13 Bank A/c Dr. 5,00,000

To Bank Loan A/c 5,00,000
18-04-13 M/s Gautam& Co. A/c Dr. 20,000

To Sales A/c 20,000
23-04-13 M/s Brine Beverages A/c Dr. 50,000

To Bank A/c 48,000
To Discount Received A/c 2,000
29-04-13 Drawings A/c Dr. 15,000

To Bank A/c 15,000
02-05-13 Investments A/c Dr. 15,000

To Bank A/c 15,000
06-05-13 Sales Return A/c Dr. 2,000

To M/s Gautam& Co. A/c 2,000
10-05-13 Purchases A/c Dr. 40,000

To M/s Rishab& Co. A/c 40,000
12-05-13 Carriage A/c Dr. 1,000

To Cash A/c 1,000
12-05-13 M/s Rishab& Co. A/c Dr. 40,000

To Bills Payable A/c 40,000
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15-05-13 Purchases A/c Dr. 5,000
To Cash A/c 5,000
18-05-13 Drawings A/c Dr. 2,000

To Purchases A/c 2,000
22-05-13 Cash A/c Dr. 16,000

To Sales A/c 16,000
29-05-13 Electricity Bill A/c Dr. 3,000

To Cash A/c 3,000
01-06-13 Insurance Premium A/c Dr. 2,500

To Bank A/c 2,500
05-06-13 Mr. Joshi A/c Dr. 6,000

To Sales A/c 6,000
07-06-13 Cash A/c Dr. 6,000

To Mr. Joshi A/c 6,000
13-06-13 Purchases A/c Dr. 24,000

To Mr. Virat A/c 24,000
16-06-13 Mr. Virat A/c Dr. 24,000

To Bank A/c 24,000
19-06-13 Mr. Sachin A/c Dr. 5,000

To Sales A/c 5,000
24-06-13 Stationery and Postage A/c Dr. 500

To Cash A/c 500
30-06-13 Mr. Mahindra A/c 25,000

Dr. 25,000
To Sales A/c
31-06-13 Salary A/c Dr. 30,000

To Cash A/c 30,000
01-07-13 Bills Receivable A/c Dr. 25,000

To Mr. Mahindra A/c 25,000
01-07-13 Bank A/c Dr. 24,750

Discount A/c Dr. 250
To Bills Receivable A/c 25,000
04-07-13 Cash A/c Dr. 9,000

Bad Debts A/c Dr. 9,000
To M/s Gautam& Co. A/c 18,000
09-07-13 Bank A/c Dr. 1,200

To Dividend A/c 1,200
12-07-13 Bills Payable A/c Dr. 40,000

To Bank A/c 40,000
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15-07-13 Commission A/c Dr. 2,000
2,000
To Cash A/c
15-07-13 Interest on Bank Loan A/c Dr. 12,500

To Bank A/c 12,500
19-07-13 Purchases A/c Dr. 35,000

To Mr. Das A/c 35,000
26-07-13 Mr. Das A/c Dr. 35,000

To Bank A/c 33,000
To Discount Received A/c 2,000
30-07-13 Bank A/c Dr. 2,500

To Bank Interest A/c 2,500
30-07-13 Telephone Bill A/c Dr. 3,000

To Cash A/c 3,000
01-08-13 Delivery Vehicle A/c 55,000

Dr. 55,000
To Cash A/c
01-08-13 Salary A/c Dr. 10,000

To Cash A/c 10,000
01-08-13 NO ENTRY
06-08-13 Shop Extension A/c Dr. 25,000

To Bank A/c 25,000
10-08-13 Nagesh A/c 7,000

Dr. 7,000
To Sales A/c
15-08-13 Cash A/c Dr. 7,000

To Nagesh A/c 7,000
18-08-13 Cash A/c Dr. 4,000

To Sales A/c 4,000
23-08-13 Purchases A/c Dr. 25,000

25,000
To Manas A/c
31-08-13 Cash A/c Dr. 500

To Dividend A/c 500
01-09-13 Cash A/c Dr. 14,000

To Sales A/c 14,000
04-09-13 Bank A/c Dr. 14,000

To Cash A/c 14,000
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To Parle Tr. Co. A/c 8,000
08-09-13 Repairings A/c Dr. 1,000

To Cash A/c 1,000
14-09-13 Refreshments A/c Dr. 300

To Cash A/c 300
17-09-13 Municipality Tax A/c Dr. 1500

To Bank A/c 1500
20-09-13 Cash A/c Dr. 500

To Sales A/c 500
26-09-13 Sekhar& Co. A/c Dr. 4,000

To Sales A/c 4,000
30-09-13 Warehouse Rent A/c Dr. 18,000

To Cash A/c 18,000

To Cash A/c 5,400
To Discount Received A/c 600
06-10-13 Investments A/c Dr. 5,000

To Bank A/c 5,000
11-10-13 Bad debts A/c Dr. 4,000

To Sekhar& Co. A/c 4,000
15-10-13 Interest on Bank Loan A/c Dr. 12,500

To Bank A/c 12,500
15-10-13 Bank Loan A/c Dr. 50,000

To Bank A/c 50,000
19-10-13 Cash A/c Dr. 3,500

3,500
To Sales A/c
25-10-13 Sales Return A/c Dr. 500

To Cash A/c 500
30-10-13 Electricity Bill A/c Dr. 2,500

To Cash A/c 2,500
01-11-13 Insurance Premium A/c Dr. 2,500

To Bank A/c 2,500
04-11-13 Salary A/c Dr. 5,000

To Bank A/c 5,000
04-11-13 Dinesh A/c 4,500

Dr. 4,500
To Sales A/c
07-11-13 Drawings A/c Dr. 3,000

To Bank A/c 3,000
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14-11-13 Bills Receivable A/c Dr. 4,500
To Dinesh A/c 4,500

6,500
To M/s Uncle chips A/c
17-11-13 M/s Uncle chips A/c Dr. 2,000

To Cash A/c 2,000
23-11-13 M/s Uncle chips A/c Dr. 4,500

4,500
To Bills Receivable A/c
01-12-13 Salary A/c Dr. 10,000

To Cash A/c 10,000
02-12-13 Stationery And Postage A/c Dr. 500

500
To Cash A/c
05-12-13 Purchases A/c Dr. 12,000

12,000
To M/s Maggie Ltd.
07-12-13 M/s Maggie Ltd. 2,000

Dr. 2,000
To Purchase Return A/c
14-12-13 Dinesh A/c 4,500

Dr. 4,500
To M/s Uncle chips A/c
19-12-13 Cash A/c Dr. 1,500

1,500
To Sales A/c
24-12-13 Bank A/c Dr. 5,000

To Cash A/c 5,000
01-01-14 Sales Tax A/c Dr. 10,000

10,000
To Cash A/c
04-01-14 Cash A/c Dr. 3,000

3,000
To Sales A/c
09-01-14 Bank A/c Dr. 7,000

To Investments A/c
To Profit on sale of investment 5,000
2,000
13-01-14 Commission A/c Dr. 500

To Cash A/c
500
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To Cash A/c 2,000
28-01-14 Warehouse Rent A/c Dr. 18,000

To Cash A/c
18,000
02-02-14 Bank Loan A/c Dr. 50,000

To Bank A/c
50,000
04-02-14 Ashwin A/c Dr. 19,000

To Sales A/c
19,000
09-02-14 Goods Destroyed by Fire A/c Dr. 1,000

To Purchases A/c
1,000
14-02-14 Miscellaneous Expenses A/c Dr. 3,000

To Cash A/c
3,000
18-02-14 Purchases A/c Dr. 12,000
To Pradyuman A/c 12,000
25-02-14 Nagesh A/c Dr. 3,000

To Sales A/c
3,000
01-03-14 Cash A/c Dr. 10,000
To Sales A/c 10,000
05-03-14 Donation A/c Dr. 10,000
To Purchases A/c 10,000
13-03-14 Repairing A/c Dr. 2,500
To Cash A/c 2,500
18-03-14 Telephone Bill A/c Dr. 4,000

4,000
To Cash A/c
To Bank A/c 7,000
26-03-14 Advertisement Expense A/c Dr. 1,000
To Cash A/c 1,000
29-03-14 Cash A/c Dr. 4,000
To sales A/c 4,000
31-03-14 Depreciation A/c Dr. 12,300
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To Furniture A/c 12,300
31-03-14 Depreciation A/c Dr. 3000 3000
To weighing machine A/c
31-03-14 Depreciation A/c Dr. 5500 5500
To delivery vehicle A/c
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CASH BOOK
Dr. Cr.
DATE PARTCULARS CASH BANK DISC DAT PARTICULARS CASH BANK DISC.
(All.) E
(Rec.)
01-04 To Capital A/c 10,00,000 5,00,000 01-04 By Furniture A/c 3,000 1,20,000
04-04 To Sales A/c 15,000 02-04 By Purchases 1,00,000

A/c
15-04 To Loan A/c 5,00,000 07-04 By Weighing 30,000

Machine A/c
22-05 To Sales A/c 16,000 23-04 By Brine 48,000 2,000

Beverages A/c
07-06 To Mr. Joshi 6,000 29-04 By Drawings 15,000

A/c A/c
01-07 To Bills 24,750

Receivable A/C
04-07 To Gautam& 9,000 02-05 By Invesments 15,000

Co. A/c A/c
09-07 To Dividend 1,200

A/C
30-07 To Bank 2,500 12-05 By Carriage 1,000

Interest A/c Charges A/c
15-08 To Nagesh A/c 7,000 15-05 By Purchases 5,000

A/c
18-08 To Sales A/c 4,000 29-05 By Electricity 3,000

Bill A/c
31-08 To Dividend 500 01-06 By Insurance 2,500

A/c Premium A/c
01-09 To Sales A/c 14,000 16-06 By Virat A/c 24,000
04-09 To Cash A/c 14,000 24-06 By Stationery & 500

(C) Postage A/c
20-09 To Sales A/c 500 31-06 By Salary A/c 30,000
12-07 By Bills Payable 40,000

A/C
19-10 To Sales A/c 3,500 15-07 By Commission 2,000

A/c
19-12 To Sales A/c 1,500 15-07 By Interest on 12,500

Bank Loan A/c
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24-12 To Cash A/c 5,000 26-07 By Mr. Das A/c 33,000 2,000
(C)
04-01 To Sales A/c 3,000 30-07 By Telephone 3,000

Bill A/c
09-01 To Investments 5,000 01-08 By Delivery 55,000

A/c Vehicle A/c
09-01 To Profit on 2,000 01-08 By Salary A/c 10,000

sale of Invest.
01-03 To Sales A/c 10,000 06-08 By Shop 25,000

Extension A/c
29-03 To Sales A/c 4,000 04-09 By Bank A/c (C) 14,000
08-09 By Repairing 1,000

A/c
14-09 By Refreshment 300

A/c
17-09 By Municipality 1,500

Tax A/c
30-09 By Warehouse 18,000

Rent A/c
02-10 By Purchases 5,400 600

A/c
06-10 By Investments 5,000

A/c
15-10 By Interest on 12,500

Loan A/c
15-10 By Bank Loan 50,.000
25-10 By Sales Return 500

A/c
30-10 By Electricity 2,500

Bill A/c
01-11 By Insurance 2,500

Premium A/c
04-11 By Salary A/c 5,000
07-11 By Drawings 3,000

A/c
17-11 By Uncle chips 2,000

A/c
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01-12 By Salary 10,000
02-12 By Stationery & 500

Postage A/c
24-12 By Bank A/c (C) 5,000
01-01 By Sales Tax 10,000

A/c
13-01 By Commission 500

A/c
21-01 By Purchases 2,000

A/c
28-01 By Warehouse 18,000

Rent A/c
02-02 By Bank Loan 50,000

A/c
14-02 By 3,000
Miscellaneous
Expenses A/c
13-03 By Repairing 2,500

A/c
18-03 By Telephone 4,000

Bill A/c
23-03 By Purchases 7,000

A/c
26-03 By 1,000
Advertisement
Expense A/c
31-03 By Balance c/d 8,40,300 4,93,950
11,01,000 10,47,450 11,01,000 10,47,450 4,600
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ANNEXURE- III
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IN THE BOOKS OF KANPUR PROVISION STORE
LEDGER
Dr. Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
31/03/14 To Balance c/d 15,00,000 01/04/13 By Cash A/C 10,00,000
01/04/13 By Bank A/C 5,00,000
15,00,000 15,00,000
Capital A/c
Dr. Cr.
01/04/13 to Bank A/C 1,20,000 31/03/14 By Depreciation A/C 12,300
01/04/13 to Cash A/C 3,000 31/03/14 By Balance c/d 1,10,700
1,23,000 1,23,000
Furniture A/c
Dr. Cr.
02/04/13 To Bank A/C 1,00,000 18/05/13 By Drawings A/C 2,000
10/04/13 To Mr. Brine Beverages 50,000 09/02/14 By Goods destroyed by 1,000
Fire
10/05/13 To Mr. Rishab& Co. 40,000 05/03/14 Donation 10,000
15/04/13 To Cash A/C 5,000 31/03/14 By Balance c/d 3,19,500
13/05/13 To Mr. Virat’s A/C 24,000
19/07/13 To Mr. Das’s A/C 35,000
23/08/13 To Manas’s A/C 25,000
07/09/13 To Mr. Parle Tr. Co. 8,000
02/10/13 To Cash A/C 5,400
02/10/13 To Discount Received 600
A/C
17/11/13 To M/s Uncle chips 6,500
05/12/13 To M/s Maggie ltd. 12,000
21/01/14 To Cash A/C 2,000
18/02/14 To Pradyuman A/C 12,000
23/03/14 To Bank A/C 7,000
3,32,500 3,32,500
Purchases A/c
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Sale’s A/c
Dr. Cr.
31/03/14 To Balance c/d 1,65,000 04/04/13 By Cash A/C 15,000
18/04/13 By M/s Gautam& co. 20,000
A/C
22/05/13 By cash a/c 16,000
05/06/13 By Mr Joshi A/C 6,000
19/06/13 By Mr. Sachin A/C 5,000
30/06/13 By Mr. Mahindra A/C 25,000
10/08/13 By Mr. Nagesh A/C 7,000
15/08/13 By Cash A/C 4,000
01/09/13 By Cash A/C 14,000
20/09/13 By Cash A/C 500
26/09/13 By Sekhar& Co. A/C 4,000
19/10/13 By Cash A/c 3,500
04/11/13 By Nil A/C 4,500
19/12/13 By cash A/C 1,500
04/01/14 By Cash A/C 3,000
04/02/14 By Ashwin A/C 19,000
25/02/14 By Nagesh A/C 3,000
01/03/14 By cash A/C 10,000
29/03/14 By cash A/C 4,000
1,65,000 1,65,000
Weighing Machine A/c
Dr. Cr.
07/04/13 To bank A/C 30,000 31/03/14 By Depreciation A/c 3000
By balance c/d 27,000
30,000 30,000
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Dr. Cr.
23/04/13 To Bank A/C 48,000 10/04/13 By Purchases A/c 50,000
23/04/13 To Discount Received 2,000
A/C
50,000 50,000
M/s Brine Beverages A/c
Dr. Cr.
15/10/13 To Bank A/c 50,000 15/04/13 By Bank A/C 5,00,000
02/02/14 To Bank A/c 50,000
31/03/14 To balance c/d 4,00,000
5,00,000 5,00,000
Bank Loan A/c
Dr. Cr.
18/04/13 To Sales A/c 20,000 06/05/13 By Sales Return A/C 2,000
04/07/13 By Cash A/C 9,000
04/07/13 By Bad Debt A/c 9,000
20,000 20,000
M/s Gautam& co. A/c
Dr. Cr.
29/04/13 To Bank A/C 15,000 31/03/14 By Balance c/d 20,000
18/05/13 To Purchases 2,000
07/11/13 To Bank A/C 3,000
20,000 20,000
Drawings A/c
Insurance Premium A/c
Dr. Cr.
01/06/13 To Bank A/C 2,500 31/03/14 By Balance c/d 5,000
01/11/13 To Bank A/c 2,500
5,000 5,000
Dr. Cr.
24 | P a g e
05/06/13 To Sales A/c 6,000 07/06/13 By Cash A/c 6,000
6,000 6,000
Mr. Joshi A/c
Dr. Cr.
16/06/13 To Bank A/c 24,000 13/06/13 By Purchases A/c 24,000
24,000 24,000
Mr. Virat A/c
Dr. Cr.
24/06/13 To Cash A/c 500 31/03/14 By Balance c/d 1,000
02/12/13 To Cash A/c 500
1,000 1,000
Stationary & Postage A/c
Dr. Cr.
30/06/13 To Sales A/c 25,000 01/07/13 By Bills Receivable A/c 25,000
25,000 25,000
Mr. Mahindra A/c
Dr. Cr.
31/06/13 To Cash A/c 30,000 31/03/14 By Balance c/d 55,000
01/08/13 To Cash A/c 10,000
04/11/13 To Bank A/c 5,000
01/12/13 To Cash A/C 10,000
55,000 55,000
Salary A/c
Dr. Cr.
25 | P a g e
04/07/13 To M/s Gautam& Co. 9,000 31/03/14 By Balance c/d 13,000
11/10/13 To Sekhar& Co. 4,000
13,000 13,000
Bad Debt A/c
Dr. Cr.
26/07/13 To Bank A/c 33,000 19/07/13 By Purchases A/c 35,000
26/07/13 To Discount Received 2,000
A/c
35,000 35,000
Mr. Das’s A/c
Dr. Cr.
31/03/14 To Balance c/d 1,700 09/07/13 By Bank A/c 1,200
31/08/13 By Cash A/c 500
1,700 1,700
Dividend A/c
Interest on Bank Loan A/c
Dr. Cr.
15/07/13 To Bank A/c 12,500 31/03/14 By Balance c/d 25,000
15/10/13 To Bank A/c 12,500
25,000 25,000
Dr. Cr.
01/08/13 To Cash A/c 55,000 31/03/14 By depreciation A/c 5500
By Balance c/d 49,500
55,000 55,000
Delivery Vehicle A/c
Dr. Cr.
26 | P a g e
25,000 25,000
Shop Extension A/c
Dr. Cr.
10/08/13 To Sales A/c 7,000 15/08/13 By Cash A/c 7,000
25/02/14 To sales A/c 3,000 31/03/14 By Balance c/d 3,000
10,000 10,000
Nagesh’s A/c
Dr. Cr.
31/03/14 To Balance c/d 25,000 23/08/13 By Purchases A/c 25,000
25,000 25,000
Mr. Manas’s A/c
Parle Trading Co. A/c
Dr. Cr.
8,000 8,000
Repairing A/c
Dr. Cr.
13/03/14 To Cash A/c 2,500
3,500 3,500
Refreshment A/c
27 | P a g e
Dr. Cr.
14/09/13 To Cash A/c 300 31/03/14 By Balance c/d 300
300 300
Municipality Tax A/c
Dr. Cr.
1,500 1,500
M/s Uncle chips A/c
Dr. Cr.
17/11/13 To Cash A/c 2,000 17/11/13 By Purchases A/c 6,500
23/11/13 To Bills receivable A/c 4,500 14/12/13 By Dinesh A/c 4,500
31/03/14 To Balance c/d 4,500
11,000 11,000
M/s Maggie Ltd. A/c
Dr. Cr.
07/12/13 To Purchase Return A/c 2,000 05/12/13 By Purchases A/c 12,000
31/03/14 To Balance c/d 10,000
12,000 12,000
Sales Tax A/c
28 | P a g e
Dr. Cr.
10,000 10,000
Profit on Sale of Investment A/c
Dr. Cr.
2,000 2,000
Commission A/c
Dr. Cr.
13/01/14 To cash A/c 500
2,500 2,500
Ashwin A/c
Dr. Cr.
04/02/14 To Sales A/c 19,000 31/03/14 By Balance c/d 19,000
19,000 19,000
Goods Destroyed by fire A/c
29 | P a g e
Dr. Cr.
09/02/14 To Purchases A/c 1,000 31/03/14 By Balance c/d 1,000
1,000 1,000
Miscellaneous Expenses A/c
Dr. Cr.
3,000 3,000
Pradyuman’s A/c
Dr. Cr.
12,000 12,000
Donation A/c
Dr. Cr.
05/03/14 To Purchases A/c 10,000 31/03/14 By Balance c/d 10,000
10,000 10,000
Telephone Bill A/c
Dr. Cr.
18/03/14 To Cash A/c 4,000
7,000 7,000
Sekhar& Co. A/c
30 | P a g e
Advertisement Expense A/c
Dr. Cr.
1,000 1,000
Dr. Cr.
Date Particulars J.F Amount Date Particulars J.F. Amount
26/09/13 To Sales A/c 4000 11/10/13 By Bad debts A/c 4000
4000 4000
Warehouse Rent A/c
Dr. Cr.
28/01/14 To Cash A/c 18000
36000 36000
Investments A/c
Dr. Cr.
02/05/13 To Bank A/c 15000 09/01/14 By Bank A/c 5000
06/10/13 To Bank A/c 5000 31/03/14 By Balance c/d 15000
20000 20000
Sales Return A/c
Dr. Cr.
31 | P a g e
06/05/13 To Gautam& Co. A/c 2000 31/03/14 By Balance c/d 2500
25/10/13 To Cash A/c 500
2500 2500
Purchase Return A/c
Dr. Cr.
31/03/14 To Balance c/d 2000 07/12/13 By Maggie Ltd. A/c 2000
2000 2000
Electricity bill A/c
Dr. Cr.
30/10/13 To Cash A/c 2500
5500 5500
Bill Receivable A/c
Dr. Cr.
01/07/13 To Mr. Mahindra A/c 25,000 01/07/13 By Bank A/c 24,750
14/11/13 To Dinesh A/c 4,500 01/07/13 By Discount A/c 250
23/11/13 By M/s Uncle chips A/c 4,500
29,500 29,500
Bills Payable A/c
Dr. Cr.
12/07/13 To Bank A/c 40,000 12/05/13 By M/s Rishab& co. A/c 40,000
40,000 40,000
32 | P a g e
M/s Rishab& Co. A/c
Dr. Cr.
12/05/13 To Bills Payable A/c 40,000 10/05/13 By Purchases A/c 40,000
40,000 40,000
Mr. Sachin A/c
Dr. Cr.
19/06/13 To Sales A/c 5,000 31/03/14 By Balance c/d 5,000
5,000 5,000
Discount A/c
Dr. Cr.
01/07/13 To Bills Receivable A/c 250 31/03/14 By Balance c/d 250
250 250
Carriage Inward A/C
Dr. Cr.
1,000 1,000
Depreciation A/c
Dr. Cr.
31/03/14 To Furniture A/c 12,300 31/03/14 By Balance c/d 20,800
31/03/14 To Weighing Machine 3000
A/c
31/03/14 To delivery vehicle A/c 5500
20,800
33 | P a g e
Bank Interest A/c
Dr. Cr.
2,500 2,500
Dinesh A/c
Dr. Cr.
04/11/13 To Sales A/c 4,500 14/11/13 By Bills receivable A/c 4,500
14/12/13 To M/s Uncle chips 4,500 31/03/14 By Balance c/d 4,500
4,500 4,500
34 | P a g e
ANNEXURE- IV
35 | P a g e
S. No. Particulars L.F. Debit (in Rs.) Credit (in Rs.)
1. Capital A/C 15,00,000
2. Furniture A/C 1,10,700
3. Purchases A/C 3,19,500
4. Sales A/C 1,65,000
5. Weighing Machine A/C 27,000
6. Bank Loan A/C 4,00,000
7. Drawings A/C 20,000
8. Insurance Premium A/C 5,000
9. Stationery & Postage A/C 1,000
10. Salary A/C 55,000
11. Bad Debt A/C 13,000
12. Dividend A/C 1,700
13. Interest on Bank Loan A/C 25,000
14. Delivery Vehicle A/C 49,500
15. Shop Extension A/C 25,000
16. Nagesh A/C 3,000
17. Manas A/C 25,000
18. Parle Trading Co. A/C 8,000
19. Repairing A/C 3,500
20. Refreshment A/C 300
21. Municipality Tax A/C 1,500
22. M/s Uncle chips A/C 4,500
23. Maggie Ltd. A/C 10,000
24. Sales Tax A/C 10,000
25. Profit on Sale of Investment A/C 2,000
26. Commission A/C 2,500
27. Ashwin A/C 19,000
28. Goods Destroyed by Fire 1,000
29. Miscellaneous Expenses 3,000
30. Pradyuman A/C 12,000
31. Donation A/C 10,000
32. Telephone Bill A/C 7,000
33. Advertisement Expenses A/C 1,000
34. Depriciation A/C 20,800
35. Bank Interest A/C 2,500
36. Dinesh A/C 4,500
37. Warehouse Rent A/C 36,000
38. Investment A/C 15,000
39. Purchases Return A/C 2,000
40. Sales Return A/C 2,500
41. Electricity Bill A/C 5,500
42. Mr Avinsh A/C 5,000
43. Discount A/C 250
44. Carriage Inward A/C 1,000
45. Discount Recieved A/C 4,600
46. Cash 8,40,300
47. Bank 4,93,950
21,37,300 21,37,300
TRIAL BALANCEAS ON 31 MARCH, 2014
ST
36 | P a g e
ANNEXURE- V
37 | P a g e
Particulars Amount Particular Amount
To Purchases A/c 3,19,500 By Sales A/C 1,65,000
Less: Purchases Return 2,000 3,17,500 Less: Sales Returns 2,500 1,62,500
To Carriage 1,000 By Closing Stock 2,85,000
To Profit & Loss A/C (G.P) 1,29,000
4,47,500 4,47,500
TRADING A/C
Profit & Loss A/C
Particulars Amount Particulars Amount

To Insurance Premium A/C 5,000 By Trading (G.P.) 1,29,000
To Stationery & Postage A/C 1,000 By Dividend A/C 1,700
To Salary A/C 55,000 By Profit on Sales of Investment A/C 2,000
To Bad Debt A/C 13,000 By Bank Interest A/C 2,500
To Interest on Bank Loan A/C 25,000 By Discount Received A/C 4,600
To Shop Extension A/C 25,000 By Capital A/C (Net Loss) 86,550
TO Repairing A/C 3,500
To Refreshment A/C 300
To Municipal Tax A/C 1,500
To Sales Tax A/C 10,000
To Commission A/C 2,500
To Goods destroyed by Fire A/C 1,000
To Miscellaneous Expenses A/C 3,000
To Donation A/C 10,000
To Telephone Bill A/C 7,000
To Advertisement Expenses A/C 1,000
To Depreciation A/C 20,800
To Warehouse Rent A/C 36,000
To Electricity Bill A/C 5,500
TO Discount A/C 250
2,26,350 2,26,350
38 | P a g e
BALANCE SHEET
AS ON 31ST MARCH, 2014
Liabilities Amount Assets Amount

Capital A/C Furniture
15,00,000 1,23,000
Less: Drawings Less: Depreciation 1,10,700
20,000 12,300
Less: Net Loss 14,01,950 Weighing Machine 30,000
1,78,050 30,000
Bank Loans 4,00,000 Less:Depreciation
3000 27,000
Sundry Creditiors Delivery Vehicle
Parle Tr. Co. 8,000 55,000
M/s Kurkure&Bingo
4,500
Maggie Ltd.
10,000 59,500
Manas25,000
Pradyuman12,000
Less : Depreciation
5500 49,500
Investment 15,000
Sundry Debtors
Nagesh 3,000
Ashwin19,000
Dinesh 4,500
Mr. Sachin5,000 31,500
Cash 8,40,300
Bank 4,93,950
Closing Stock 2,85,000
18,52,950 18,52,950
39 | P a g e

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NATIONAL LAW UNIVERSITY, ODISHA

ACCOUNTANCY PROJECT WORK

Submitted to: Mr. A. B. Debasis Rout

(Asst. Prof.Of Finance)

Hariom Kamal Singh (15bba022)

Hitesh Mallick (15bba025)

02-04-13 Purchased goods worth Rs.1,00,000 and paid by cheque

04-04-13 Sold goods of Rs. 15,000 and received cash

07-04-13 Purchased television of Rs.30,000 and paid by cheque

18-04-13 Sold Goods on credit Rs.20,000 to M/s Gautam& co.

29-04-13 Withdrew from bank for personal use Rs.15,000

02-05-13 Invested Rs.15,000 in shares and debentures and paid by cheque

06-05-13 M/s Gautam& co. returned goods worth Rs.2,000

12-05-13 Paid Carriage charges Rs.1,000 in Cash

15-05-13 Cash Purchases Rs.5,000

18-05-13 Drew goods for personal use Rs.2,000

22-05-13 Cash Sales Rs.16,000

29-05-13 Paid Electricity Bill Rs.3,000 in Cash

05-06-13 Credit sale to Mr. Joshi of Rs. 6,000

07-06-13 Mr. Joshi paid Rs.6,000 in cash.

16-06-13 Paid to Mr. Virat by cheque

19-06-13 Sales of Rs.5,000 made to Mr. Sachin

24-06-13 Stationery and Postage charges Rs.500 paid by cash

30-06-13 Made credit sales to Mr. Mahindra of Rs. 25,000

31-05-13 Paid salary to employees Rs.30,000 in Cash

01-07-13 Discounted the bill from bank @ 12% p.a.

09-07-13 Dividend on investment received Rs.1,200 by Cheque

12-07-13 Paid the bills payable (12-04-13) by Cheque

15-07-13 Commission paid Rs. 2,000 by Cash

15-07-13 Paid interest of bank loan Rs.12,500 by Cheque

19-07-13 Purchased goods from Mr. Das Rs. 35,000

26-07-13 Paid to Mr.Das, received discount of Rs.2000 by Cheque

30-07-13 Bank paid interest Rs.2500 (Credited to Bank A/C)

30-07-13 Telephone bill paid Rs.3000 in Cash

01-08-13 purchased a New delivery vehicle of Rs. 55,000 paid by Cash

01-08-13 Paid salary to Delivery Boy Rs.10,000 by Cash

01-08-13 B/R of Mahindra cleared off (01-06-13)

06-08-13 Extension of shop paid by cheque Rs.25,000

10-08-13 Sold goods to Nagesh Rs.7,000

15-08-13 Nagesh paid his entire due amount (Cash receipt)

18-08-13 Cash Sales of Rs. 4,000

23-08-13 Purchased goods worth Rs. 25,000 from Manas

31-08-13 Dividend cash on investment received Rs.500

01-09-13 Sold goods Rs.14,000 and received cheque from Ganju

04-09-13 Cheque deposited in bank (Ganju)

07-09-13 Purchased goods from Parle Trading Co. of Rs.8,000

08-09-13 Repaired fridge Rs.1,000 paid in Cash

14-09-13 Refreshments provided to customer 300 paid in cash

17-09-13 Paid to Municipality as taxes Rs.1,500 by bank

20-09-13 Sold goods for cash Rs.500

26-09-13 Sekhar& co. purchased goods of Rs.Rs.4,000 (Sales)

30-09-13 Paid warehouse rent in Cash of Rs.18,000

06-10-13 Purchased investments of Rs. 5,000 by cheque

11-10-13Sekhar& co. became insolvent and no amount was received them

15-10-13 Paid interest on bank loan Rs.12,500

19-10-13 Sold goods of Rs.3,500 and received cash

30-10-13 Paid electricity bill 2,500 in Cash

01-11-13 Paid insurance premium Rs.2,500 by cheque

04-11-13 Sold goods to Dinesh on credit Rs.4,500