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    Accounting Equation: Transactions Sundry Debtors

    Uploaded by

    Aditya Shrivastava
    The document outlines the financial transactions and accounting equations for a business over a year. It includes details of assets, liabilities, equity, income, expenses and opening/closing stock. The business had income from subscription fees and renewals totaling Rs. 540,000 and expenses of Rs. 454500 resulting in a net profit of Rs. 85500.

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

    Accounting Equation: Transactions Sundry Debtors

    Uploaded by

    Aditya Shrivastava
    8 views9 pages
    The document outlines the financial transactions and accounting equations for a business over a year. It includes details of assets, liabilities, equity, income, expenses and opening/closing stock. The business had income from subscription fees and renewals totaling Rs. 540,000 and expenses of Rs. 454500 resulting in a net profit of Rs. 85500.

    Original Description:

    FAM

    Original Title

    FAM (CIA)

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    The document outlines the financial transactions and accounting equations for a business over a year. It includes details of assets, liabilities, equity, income, expenses and opening/closing stock. The business had income from subscription fees and renewals totaling Rs. 540,000 and expenses of Rs. 454500 resulting in a net profit of Rs. 85500.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    8 views9 pages

    Accounting Equation: Transactions Sundry Debtors

    Uploaded by

    Aditya Shrivastava
    The document outlines the financial transactions and accounting equations for a business over a year. It includes details of assets, liabilities, equity, income, expenses and opening/closing stock. The business had income from subscription fees and renewals totaling Rs. 540,000 and expenses of Rs. 454500 resulting in a net profit of Rs. 85500.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 9

    Transactions

    Bills sundry
    Furniture Receivable Computer debtors Opening Stock
    Capital invested by the owner
    Rent paid for premises p.a.
    Opening Stock (Purchase of books) 80000
    Postage and Stationary
    Subscription fee
    Electricity Expenses
    Subscription in advance
    Wages & Salaries
    Outstanding Salaries
    Goodwill
    Sundry Debtors 30000
    Advertisement & Promotion
    Furniture Purchased 20000
    Sundry Creditors
    Maintenance
    Supplies of Books
    Purchase of Computer/Tablets 50000
    Prepaid Expenses
    General Reserve
    Refreshment Costs
    Discount on subscription
    GST (Tax payable)
    Bills Receivable 7500
    Security Charges paid
    Renewal of subscription
    20000 7500 50000 30000 80000

    940500

    Assets = Liabilities + Equity


    940500= 205000 + 650000 + 85500
    Accounting Equation

    Assets Liabilities

    Prepaid General Customer


    Cash Expenses Goodwill Reserve Bank Loan Creditors Advances
    650000
    -180000
    80000
    -10000
    440000
    -5000
    60000 60000
    -150000

    20000
    30000
    -7000
    -20000
    -15000 15000
    -2500
    -15000
    -50000
    -5000
    -50000 50000
    -20000
    -10000
    -18000
    7500
    -2000
    100000
    728000 0 20000 50000 80000 15000 60000 0

    205000

    lities + Equity
    000 + 650000 + 85500
    Capital Revenue Expense

    650000
    180000

    10000
    440000
    5000

    150000
    10000
    20000

    7000

    2500
    15000

    5000

    20000
    10000
    18000

    2000
    100000
    650000 540000 0 454500
    85500
    540000
    180,000.00
    10,000.00
    5,000.00
    150,000.00
    10,000.00
    7,000.00
    20,000.00
    2,500.00
    15,000.00

    5,000.00

    20,000.00
    10,000.00
    18,000.00
    2,000.00
    85,500.00
    Profit and Loss A/C for the year ended 31st March
    Expenses
    Particulars Amount
    To Rent A/c 180,000.00
    To Postage And Stationaries 10,000.00
    To Electricity Charges 5,000.00
    To Salaries 150,000.00
    To Outstanding Salaries 10,000.00
    To Advertisements & Promotions 7,000.00
    To Goodwill 20,000.00
    To Maintenance Charges 2,500.00
    To Supplies for Office Use 15,000.00
    To Prepaid Expenses 5,000.00
    To Refreshment Drinks 20,000.00
    To Allowed Discount on Subscription 10,000.00
    To GST 18,000.00
    To Security Charges 2,000.00
    To Net Profit (**) 85,500.00

    TOTAL 540,000.00
    A/C for the year ended 31st March 2021
    Revenue
    Particulars Amount
    By Subscription Fees Received 440,000.00
    By Renewal of Subscription 100,000.00

    TOTAL 540,000.00
    B/S as on 31st March 2021
    Liabilities Column1
    Particulars Amount
    Capital 6,50,000
    Net Profit (85500) 735,500.00
    Creditors 15,000.00
    Bank Loan for Purchase of Books 80,000.00
    General Reserve 50,000.00
    subscription in advance 60,000.00

    Total 940,500.00
    on 31st March 2021
    Assets Column2
    Particulars Amount
    Goodwill 20,000.00
    Debtors 30,000.00
    Furniture 20,000.00
    Computers/ Tablets 50,000.00
    Prepaid Expenses 5,000.00
    Bills Receivable 7,500.00
    Cash 728,000.00
    stock in hand 80,000.00

    TOTAL 940,500.00

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