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    Accounts Project

    Uploaded by

    Jyotirup Samal
    The document records business transactions from April 1st to July 31st and November 18th to March 31st including purchases and sales of goods and assets, deposits and withdrawals from bank accounts, loans, salaries, rent and other expenses. Key transactions include starting the business with $600,000 cash and $700,000 in the bank, purchasing plant and machinery for $250,000, goods from suppliers, selling goods to traders, taking out and repaying loans, paying rent and salaries, and generating sales revenue.

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

    Accounts Project

    Uploaded by

    Jyotirup Samal
    131 views5 pages
    The document records business transactions from April 1st to July 31st and November 18th to March 31st including purchases and sales of goods and assets, deposits and withdrawals from bank accounts, loans, salaries, rent and other expenses. Key transactions include starting the business with $600,000 cash and $700,000 in the bank, purchasing plant and machinery for $250,000, goods from suppliers, selling goods to traders, taking out and repaying loans, paying rent and salaries, and generating sales revenue.

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    © © All Rights Reserved

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    The document records business transactions from April 1st to July 31st and November 18th to March 31st including purchases and sales of goods and assets, deposits and withdrawals from bank accounts, loans, salaries, rent and other expenses. Key transactions include starting the business with $600,000 cash and $700,000 in the bank, purchasing plant and machinery for $250,000, goods from suppliers, selling goods to traders, taking out and repaying loans, paying rent and salaries, and generating sales revenue.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    131 views5 pages

    Accounts Project

    Uploaded by

    Jyotirup Samal
    The document records business transactions from April 1st to July 31st and November 18th to March 31st including purchases and sales of goods and assets, deposits and withdrawals from bank accounts, loans, salaries, rent and other expenses. Key transactions include starting the business with $600,000 cash and $700,000 in the bank, purchasing plant and machinery for $250,000, goods from suppliers, selling goods to traders, taking out and repaying loans, paying rent and salaries, and generating sales revenue.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 5

    Michael started a business with cash 600,000, cash at Bank of America 700,000, furniture

    1 APR
    200,000.

    2 APR Purchased Plant & Machinery worth 250,000 by cheque.

    3 APR Purchased goods from ABC Ltd worth 800,000 @10% trade discount.

    4 APR Cash Sales 1,000,000 @5% trade discount to XYZ Traders

    5 APR Deposited cash with Bank of America 500,000.

    6 APR Paid ABC Ltd 300,000 in cash.

    7 APR Received commission 75,000 by cheque.

    8 APR Cash Purchases 250,000.

    9 APR Sold goods to XYZ Traders 475,000.

    10 APR Received 275,000 by cheque from XYZ Traders.

    11 APR Loan taken from Bank of America 200,000

    12 APR Purchased goods from ABC Ltd 50,000.

    13 APR Withdrew cash from bank 10,000.

    14 APR Received commission 55,000 in cash.

    15 APR Paid ABC Ltd 70,000 by cheque.

    16 APR Received 90,000 in cash from XYZ Traders.

    17 APR Bank loan repaid 50,000.

    18 APR Cash Purchases 25,000.

    19 APR Sold goods to XYZ Traders 47,000.

    21 APR Withdrew cash from bank 15,000.

    28 APR Received interest from bank 5,000.

    29 APR Purchased goods from ABC Ltd 75,000.

    30 APR Cash Sales 100,000.

    3 MAY Deposited cash with Bank of America 35,000.

    6 MAY Cash Purchases 450,000.


    7 MAY Office was taken on rent in the month of Feb. Office rent paid in cash 50,000.

    Employees were hired in the month of Feb. Paid salary by cheque 30,000 & cash 30,000 for
    9 MAY
    the month of Feb 20×2.

    12
    Sold goods to XYZ Traders 675,000.
    MAY

    15
    Paid office rent by cheque 50,000.
    MAY

    16
    Paid salary in cash 30,000 for the month of March 20×2.
    MAY

    19 MAY Cash deposited into the bank Rs. 30,00,000.


    23 MAY Goods purchased (3,000 Chairs) for cash Rs 8,00,000 at 25% trade discount .
    27 MAY Machinery Purchased for cash Rs.5,50,000 and installation expenses paid Rs.
    50,000.
    29 MAY Computer Purchased paid by cheque Rs. 50,000.
    30 MAY Goods sold (2,000 Chairs) for Cash Rs. 7,00,000.
    2 JUN Carriage paid Rs. 18,000.
    5 JUN Goods purchased (1,000 Tables) from Dinesh & company Rs. 12,50,000 at 20%
    trade discount .
    6 JUN Goods Sold( 500 Tables to Mohit & Brother Rs.20,00,000 at 40% trade discount .
    8 JUN Investment purchased by cheque Rs. 2,00,000.
    11 JUN Furniture Purchased for office use  paid by cheque Rs. 1,50,000.
    12 JUN Cash withdrawn for personal use Rs. 40,000.
    15 JUN Cheques received from Mohit and brother Rs 8,00,000 and deposited into Bank 
    same day.
    17 JUN Goods purchased ( 1000 Tables) from Dinesh & company Rs. 10,00,000 at 20%
    trade discount .
    19 JUN Goods sold for Cash Rs. 5,00,000.
    22 JUN Goods Sold ( 500 Chairs and 500 tables)  to Mohit & Brother Rs.10,00,000 at 20%
    trade discount .
    23 JUN Cash withdrawn from bank for office use Rs. 1,00,000.
    24 JUN Advertisement Expenses paid by cheque  Rs. 1,20,000.
    28 JUN Insurance premium paid Rs. 20,000 by cheque.
    30 JUN Cash received from Mohit & brother Rs 2,00,000.
    1 JUL Cash paid to Dinesh & company Rs. 1,50,000.
    3 JUL Commission Received Rs. 20,000.
    6 JUL wages paid  Rs.15,000.
    7 JUL Cash withdrawn for personal use Rs. 40,000.
    8 JUL Salary  Rs 25,000, Rent Rs. 16,000 paid by cheque.
    10 JUL Depreciation charge on machinery Rs. 5,000.
    13 JUL Depreciation charge on Computer  Rs. 2,500.
    15 JUL Bank charges charged by bank  Rs. 5,000.
    18 JUL. Interest received on investment Rs. 4,000.
    19 JUL Cash deposited into the bank Rs. 30,00,000.
    21 JUL Goods purchased for cash Rs 8,00,000 at 25% trade discount .
    23 JUL Sewing Machinery Purchased for cash Rs. 5,50,000 and installation expenses paid
    Rs. 50,000.
    24 JUL Computer Purchased paid by cheque Rs. 50,000.
    25 JUL Goods sold for Cash Rs. 7,00,000.
    26 JUL Goods purchased from Dinesh & company Rs. 12,50,000 at 20% trade
    discount .
    28 JUL Goods Sold to Mohit & Brother Rs.20,00,000 at 40% trade discount .
    30 JUL amount paid to Dinesh & company by cheques Rs. 4,00,000.
    31 JUL Furniture Purchased paid by cheque Rs. 1,50,000.
    November 18 Cheques received from Mohit and brother Rs 8,00,000 and deposited into
    Bank  same day.
    November 19 Goods purchased from Dinesh & company Rs. 10,00,000 at 20% trade discount
    .
    November 20 Goods sold for Cash Rs. 5,00,000.
    November 21 Goods Sold to Mohit & Brother Rs.10,00,000 at 20% trade discount .
    November 24 Isurance premium paid Rs. 20,000 by chequNovember 25 Cash received from
    Mohit and brother Rs 2,00,000.

    November 26 Cash paid to Dinesh and company Rs. 1,50,000.


    November 27 Commission Received Rs. 20,000.
    November 29 Cash withdrawn for personal use Rs. 40,000.
    November 30 Salary  Rs 25,000, Rent Rs. 16,000 paid by cheque.
    March 3 Cash deposited into the bank Rs. 15,00,000.
    March 6 Goods purchased for cash Rs 5,00,000 at 20% trade discount .
    March 8 Machinery Purchased Rs.2,50,000 and installation expenses paid Rs. 50,000.
    Amount paid by cheque.
    March 12 Computer Purchased paid by cheque Rs. 30,000.
    March 16 Goods sold for Cash Rs. 6,00,000 and deposited in to the bank same day.
    March 18 Carriage paid Rs. 10,000.
    March 20 Goods Sold on credit to  Mohit & Brother Rs.2,00,000 at 25% trade discount .
    March 25 Furniture Purchased for office use  paid by cheque Rs. 50,000.
    March 26 Cheques received from Mohit and brother Rs 1,00,000 and deposited into Bank 
    same day.
    March 27 Cash withdrawn from bank for office use Rs.40,000.
    March 28 Advertisement Expenses paid by cheque Rs. 20,000.
    March 29Commission Received Rs. 10,000.
    March 31 Bank charges charged by bank  Rs. 5,000.

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