National LAW University Odisha: Project On Electronic Store

NATIONAL LAW UNIVERSITY ODISHA
SUBMITTED BY
Sudipto Koner 2016/BA LLB/106
TOPIC:
PROJECT ON ELECTRONIC STORE
Under the guidance
Of
Mr. AB Debasis Rout
SUBJECT: BASIC PRINCIPLES OF ACCOUNTING

Contents
ANNEXURE-I ........................................................................................................................... 3
NATURE OF BUSINESS: ................................................................................................................ 3
List of Transactions: .................................................................................................................. 4
ANNEXURE-II.......................................................................................................................... 9
Journal ........................................................................................................................................ 9
ANNEXURE-III ...................................................................................................................... 16
CASH BOOK........................................................................................................................... 16
ANNEXURE-IV ...................................................................................................................... 20
ANNEXURE-V ....................................................................................................................... 30
Trial Balance ............................................................................................................................ 30
Annexure VI............................................................................................................................. 32
Trading accounts .................................................................................................................. 32
P/L account as on 31/3/2017 ................................................................................................ 32
Balance Sheet as on 31/3/2017 ............................................................................................ 33
2
ANNEXURE-I
NATURE OF BUSINESS:
‘Jayant Store’ is a sole-proprietorship firm based in Kolkata, West Bengal dealing in wholesale
ready-made garments run by Mr. Rohan Kumar. Mr. Rohan started the firm in the year 2016
by introducing capital of Rs. 49,00,000 in the form of cash, land, motor vehicles. The firm
purchases its good from suppliers throughout India—Bulbs from manufacturers Biswas
Traders, Televisions from LG & Co. Switches & Plugs from well-known labels such as
Havells, Khaitan, USHA & Co., Anchor, fans & coolers from Symphony & Co. etc. The firm’s
business for the initial year was not very fruitful as it incurred a net loss of over Rs. 20 lakhs
and it seems that there is need for better management, especially in stock levels.
3
LIST OF TRANSACTIONS:
April:
1. 01/04/2016 Mr. Rohan commenced business by introducing into the business Rs.
30,00,000 in cash, Rs. 15,00,000 worth land & building, Maruti Swift worth Rs. 4,00,000.
2. 03/04/2016 Mr. Rohan opened a current account with UCO Bank, Salt Lake, West
Bengal and deposited Rs. 27,00,000 cash.
3. 05/04/2016 Bought computer, bar-code scanner, Wi-Fi Router, Electric inverter,
credit-cum-debit card machine worth Rs. 50,000 in cash
4. 06/04/2016 Life-Insurance Premium of Rs. 15000 paid by cheque
5. 10/04/2016 Bought TVs from LG Co. ltd Worth Rs. 7,00,000, refrigerator from
whirlpool Ltd worth Rs. 10,00,000 and Fans worth Rs. 2,50,000 from Khaitan Ltd. All
payments made via cheque.
6. 10/04/2016 Took a warehouse on rent, Rs. 40,000 paid in cash for the first month.
7. 11/04/2016 He brought furniture for Rs. 4,00,000 paying Rs. 3,00,000 in cheque and
rest on credit from Damro & Co.
8. 14/04/2016 Sold TVs and refrigerator for Rs 4,50,000. Payment received in cheque.
9. 20/04/2016 Sold Fans for Rs. 1,00,000. Payment received in cash.
10. 25/04/2016 Paid Rs. 95000 to Damro & Co. via cheque in full settlement.
11. 26/4/2016 sold ACs to Basu traders worth 30,000 on credit.
12. 28/04/2016 Paid salary to employees for Rs. 30,000 in cash.
13. 29/04/2016 Paid advertisement expenses for 10,000.
May:
14. 02/05/2016 Paid rent for the warehouse Rs. 40,000 in cash.
15. 03/05/2016 Sold Coolers for Rs. 2,00,000 to Symphony & Co on credit.
16. 4/5/2016 Basu traders paid Rs. 10000 in cheque.
17. 05/05/2016 Fan worth Rs. 2,000 withdrawn for personal use.
18. 07/05/2016 Wall-painting expenses worth Rs. 10,000 incurred, paid in cash.
19. 10/05/2016 Cartage charges Rs. 15,000 incurred.
20. 15/05/2016 Mr. Rohan further introduced Rs. 1,00,000 in cash as capital
21. 20/05/2016 Paid salary in cash for Rs. 30,000.
22. 25/5/2016 Sold solar panel to NUJS worth 50,000.
4
June:
23. 05/06/2016 Paid rent for the warehouse Rs. 40,000 in cash.
24. 10/06/2016 Withdrew from Bank Account Rs. 1,00,000
25. 11/06/2016 Received Rs 1,00,000 via cheque from Symphony & Co.
26. 13/06/2016 Sold Refrigerators worth Rs 2,50,000. Payment received in cheque
27. 15/06/2016 Fuel charges for car worth Rs. 5,000 incurred in cash.
28. 20/6/2016 NUJS paid 20,000 in cash.
29. 23/06/2016 Received Rs. 97,000 via cheque from Symphony and allowed Rs. 3,000
discount
30. 27/06/2016 Paid salary in cash for Rs. 30,000
31. 28/6/2016 Sold TVs to Roy traders worth 25,000
32. 29/06/2016 Paid telephone bill in cash for Rs. 4,500.
33. 29/06/2016 Paid electricity bill in cash for Rs. 15,000.
34. 30/6/2016 expenses incurred on renovation of shop 10,000
July:
35. 03/07/2016 Paid rent for warehouse in cash, Rs. 40,000.

36. 4/7/2016 Roy Traders paid in Cash 10,000.
37. 4/7/2016 Basu traders paid 10,000 in cash.
38. 06/07/2016 Withdrew Rs. 50,000 in cash for personal use.
39. 11/07/2016 Withdrew TV worth Rs. 7,000 for personal use.
40. 15/07/2016 Purchased switches and plugs on credit from M/S Biswas Traders worth
Rs. 5,00,000.
41. 20/07/2016 Sold bulbs for 3,00,000 on credit to Symphony & Co.
42. 23/07/2016 Paid Rs. 2,00,000 to M/S Biswas Traders via cheque.
44. 28/7/2016 Bulbs sold to 20,000 to Chopra Traders.
45. 29/7/2016 Chopra traders paid 10000 in cheque.
August:
5
47. 03/08/2016 Goods returned by M/S Symphony & Co. 30,000.
48. 15/08/2016 Paid in cheque Rs. 1,50,000 to M/S Biswas Traders.
49. 16/8/2016 Roy Traders paid 10,000 in cheque.
50. 19/08/2016 Purchased a wall-painting for decoration for Rs. 1,500. .
52. 28/08/2016 Purchased Billing Software CD worth Rs. 2,000
53. 29/08/2016 Sold Fans for Rs. 75,000 in cash
Sept:

55. 14/09/2016 Received Rs. 1,90,000 from M/S Symphony & Co. in cheque, Allowed
Rs. 10,000 discount
56. 16/09/2016 Paid Rs. 1,40,000 to M/S Biswas Traders in full settlement
57. 20/9/2016 Basu traders settled their account and pain in cash.
58. 28/09/2016 Paid advertising expenses for Rs. 15,000.
59. 29/09/2016 Paid salary Rs 30,000.
60. 30/09/2016 Paid electricity bill Rs. 15,000.
61. 30/09/2016 Paid telephone bill Rs. 4,500.
October:

63. 8/10/2016 Paid Diwali bonus to employee 10, 000
64. 9/10/2016 Chopra traders settled their accounts and paid in Cash.
65. 10/10/2016 Sold Bulbs and plugs for Rs. 1,80,000 for cash
66. 11/10/2016 Roy traders settled their accounts and paid in cash.
67. 14/10/2016 Purchased Bulbs worth Rs. 2,00,000 on credit from Biswas Traders
68. 20/10/2016 NUJS paid 20,000 in cheque.
69. 25/10/2016 Paid salary Rs. 30,000.
70. 31/10/2016 Sold TVs for Rs. 1,00,000- payment received in cash.
Nov:
6
72. 07/11/2016 Further introduced capital in form of cash Rs. 50,000.
73. 15/11/2016 Deposited Rs. 50,000 in the bank account.
74. 20/11/2016 Sold Bulbs for Rs. 75,000 in cash
75. 25/11/2016 Sold TVs for Rs. 50,000- payment received via cheque
76. 31/11/2016 Salaries for the month amounting to Rs. 30,000 not paid
Dec:

78. 15/12/2016 M/S Symphony & Co. declares bankruptcy, debt written off.
79. 20/12/2016 Sold Bulbs and TVs for Rs. 1,50,000 for credit to M/S Saraswati
Electronic store
80. 25/12/2016 Paid Salary Rs. 60,000 including that of last month.
82. 28/12/2016 Paid electricity bill Rs 15,000.
Jan:

84. 5/1/2017 NUJS settled its account and paid in cash.
85. 15/01/2017 Received Rs. 1,45,000 from Saraswati Electronics Store , allowed Rs.
5,000 discount.
86. 18/01/2017 Withdrew Rs. 2,50,000 from bank
87. 20/01/2017 Paid salary in cash, Rs. 30,000.
88. 21/01/2017 Goods worth Rs. 12,000 destroyed by mice
89. 25/01/2017 Purchased goods worth Rs. 4,00,000 via cheque
Feb:

91. 10/02/2017 Sold goods worth Rs. 50,000 in cash
92. 15/02/2017 Rs. 50,000 from Symphony & Co. recovered
93. 25/02/2017 Paid salary to workers Rs. 30,000.
7
94. 28/2/2017 expenses incurred on renovation of shop 10,000
March:

96. 28/03/2017 Paid salary to workers Rs. 30,000.
98. 28/03/2017 Paid advertising expenses for Rs. 5,000.
99. 28/03/2016 Paid electricity bill Rs 15,000.
100. 30/03/2017 Depreciation charged on furniture, computer, vehicle at 10%.
8
ANNEXURE-II
JOURNAL
DATE PARTICULARS L/F DR. CR.

Cash A/C Dr. 30,00,000
1/4/16 Land and Building A/C Dr. 15,00,000
Vehicles A/C Dr. 4,00,000
To Capital A/C 49,00,000
3/4/16 Bank A/C Dr. 27,00,000
To Cash A/C 27,00,000
5/4/16 Electronic Equipment A/C Dr. 50,000
To Cash A/C 50,000
6/4/16 Drawings A/C Dr. 15,000
To Bank A/C 15,000
10/4/16 Purchases A/C Dr. 19,50,000

To Bank A/C 19,50,000
10/4/16 Warehouse Rent A/C Dr. 40,000
To Cash A/C 40,000
11/4/16 Furniture A/C Dr. 4,00,000
To Bank A/C 3,00,000
To Damro A/C 1,00,000
14/4/16 Bank A/C Dr. 4,50,000
To Sales A/C 4,50,000
20/4/16 Cash A/C Dr. 1,00,000
25/4/16 Damro A/C Dr. 1,00,000
To Bank A/C 95,000
To Discount Received A/C 5,000
26/4/2016 Basu Traders A/C 30,000
To Sales A/C 30,000
9
28/4/16 Salary A/C Dr. 30,000
To Cash A/C 30,000
29/4/16 Advertisement A/C Dr. 10,000
To Cash A/C 10,000

To Cash A/C 40,000
3/5/16 Symphony A/C Dr. 2,00,000
4/5/16 Bank A/c Dr. 10,000
To Basu Traders A/C 10,000
To Purchases A/C 2,000
7/5/16 Wall Painting A/C Dr. 10,000
To Cash A/C 10,000
10/5/16 Cartage A/C Dr. 15,000
To Cash A/C 15,000
15/5/16 Cash A/C Dr. 1,00,000 ue
To Capital A/C 1,00,000
20/5/16 Salary A/C Dr. 30,000
To Cash A/C 30,000
25/5/16 NUJS A/C Dr. 50,000
To Sales A/C 50,000
To Cash A/C 40,000
10/6/16 Cash A/C Dr. 1,00,000
11/6/16 Bank A/C Dr. 1,00,000
To symphony A/C 1,00,000
13/6/16 Bank A/C Dr. 2,50,000
15/6/16 Fuel Expenses A/C Dr. 5,000
To Cash A/C 5,000
10
20/6/16 Cash A/C Dr. 20,000
To NUJS A/C 20,000
23/6/16 Bank A/C Dr. 97,000
Discount Allowed A/C Dr. 3,000
To Symphony A/C 1,00,000
27/6/16 Salary A/C Dr. 30,000
To Cash A/C 30,000
28/6/16 Roy traders A/C Dr. 25,000
To Sales A/C 25,000
29/6/16 Telephone Bill A/C Dr. 4,500
Electricity Bill A/C Dr. 15,000
To Cash A/C 19,500
30/6/16 Renovation A/C Dr 10,000
To Cash A/C 10,000
To Cash A/C 40,000
4/7/16 Cash A/c Dr 10,000 10,000
To Roy traders A/C
4/7/16 Cash A/C Dr 10,000 10,000
To Basu traders A/C
To Bank A/C 50,000
15/7/16 Purchases A/C Dr. 5,00,000
To Biswas traders A/C 5,00,000
20/7/16 Symphony A/C Dr. 3,00,000

23/7/16 Biswas Traders A/C Dr. 2,00,000
27/7/16 Salary A/C Dr. 30,000
To Cash A/C 30,000
11
28/7/16 Chopra Traders A/C Dr. 20,000
To Sales A/C 20,000
29/7/16 Bank A/C Dr. 20,000
To Chopra Traders A/C 20,000
To Cash A/C 40,000
3/8/16 Sales A/C Dr. 30,000

To Symphony A/C 30,000
16/8/16 Bank A/C Dr. 10,000
To Roy Traders A/C 10,000
19/8/16 Decoration A/C Dr. 1,500
To Cash A/C 1,500
27/8/16 Salary A/C Dr. 30,000
To Cash A/C 30,000
28/8/16 Computer Expenses A/C Dr. 2,000
To Cash A/C 2,000
29/8/16 Cash A/C Dr. 75,000
To Sales A/C 75,000
To Cash A/C 40,000
14/9/16 Bank A/C Dr. 1,90,000
To Symphony A/C 2,00,000
To Discount received A/C 10,000
20/9/16 Cash A/C Dr. 10,000
To Basu Traders A/C 10,000
Advertisement A/C Dr. 15,000
28/9/16 To Cash A/C 15,000
12
Salary A/C Dr. 30,000
29/9/16 To Cash A/C 30,000
30/9/16 Electricity Bill A/C Dr. 15,000

Telephone Bill A/C Dr. 4,500
To Cash A/C 19,500
To Cash A/C 40,000
8/10/16 Bonus A/C Dr. 10,000
To Cash A/C 10,000
9/10/16 Cash A/C Dr. 10,000
To Chopra Traders A/C 10,000
10/10/16 Cash A/C Dr. 1,80,000
11/10/16 Cash A/C Dr. 5,000
To Roy Traders A/C 5,000
14/10/16 Purchases A/C Dr. 2,00,000
To Biswas Traders A/C 2,00,000
20/10/16 Bank A/C Dr. 20,000
To NUJS A/C 20,000
25/10/16 Salary A/C Dr. 30,000
To Cash A/C 30,000
31/10/16 Cash A/C Dr. 1,00,000
To Cash A/C 40,000
7/11/16 Cash A/C Dr. 50,000
To Capital A/C 50,000
15/11/16 Bank A/C Dr. 50,000
To Cash A/C 50,000
20/11/6 Cash A/C Dr. 75,000
To Sales A/C 75,000
25/11/16 Bank A/C Dr. 50,000
13
To Sales A/C 50,000
31/11/16 Salary A/C Dr. 30,000
To Salary Outstanding A/C 30,000
To Cash A/C 40,000
15/12/16 Bad Debts A/C Dr. 70,000

To Symphony A/C 70,000
20/12/16 Saraswati electronic A/C Dr. 1,50,000
25/12/16 Salary A/C Dr. 30,000

Salary Outstanding A/C Dr. 30,000
To Cash A/C 60,000
To Cash A/C 4,500
28/12/16 Electricity Bill A/C Dr. 15,000
To Cash A/C 15,000
To Cash A/C 40,000
5/1/17 Cash A/C Dr. 10,000
To NUJS A/C 10,000
15/1/17 Bank A/C Dr. 1,45,000
To Saraswati electronic A/C 1,50,000
Cash A/C Dr. 2,50,000
18/1/17 To Bank A/C 2,50,000
20/1/17 Salary A/C Dr. 30,000
To Cash A/C 30,000
21/1/17 Abnormal Loss A/C Dr. 12,000
25/1/17 Purchases A/C Dr. 4,00,000
14
To Cash A/C 40,000
10/2/17 Cash A/C Dr. 50,000
To Sales A/C 50,000
15/2/17 Cash A/C Dr. 50,000
To Bad Debts Recovery A/C 50,000
25/2/17 Salary A/C Dr. 30,000
To Cash A/C 30,000
28/2/17 Renovation A/C Dr. 10,000
To Cash A/C 10,000
To Cash A/C 40,000
28/3/17 Salary A/C Dr. 30,000
To Cash A/C 30,000
Electricity Bill A/C Dr. 15,000
Advertisement A/C Dr. 5,000
To Cash A/C 24,500
30/3/17 Depreciation A/C Dr. 80,000
To Furniture A/C 40,000
To Vehicle A/C 40,000
15
ANNEXURE-III
CASH BOOK
DATE PARTICULAR CASH BANK DATE PARTICULAR CASH BANK
S S
1/4/16 To Capital A/C 30,00,000 3/4/16 By Bank A/C 27,00,000
(C)
3/4/16 To Cash A/C 27,00,000 5/4/16 By Electronic 50,000
(C) Equipment A/C
14/4/16 To Sales A/C 4,50,000 6/4/16 By Drawings 15,000
A/C
20/4/16 To Sales A/C 1,00,000 10/4/16 By Purchases 19,50,000
A/C
4/5/16 To Basu A/C 10,000
15/5/16 To Capital A/C 1,00,000 10/4/16 By Warehouse 40,000
Rent A/C
10/6/16 To Bank A/C 1,00,000 11/4/16 By Furniture 3,00,000
(C) A/C
11/6/16 To Symphony 1,00,000 25/4/16 By Damro & 95,000
A/C Co. A/C
13/6/16 To Sales A/C 2,50,000 28/4/16 By Salary A/C 30,000
20/6/16 To NUJS 20,000
23/6/16 To Symphony 97,000 29/4/16 By 10,000
A/C Advertisement
A/C
4/7/16 To Basu A/C 10,000
4/7/16 To Roy A/C 10,000
29/7/16 To Chopra A/C 10,000
16/8/16 To Roy A/C 10,000
29/8/16 To Sales A/C 75,000 2/5/16 By Warehouse 40,000
Rent A/C
16
14/9/16 To Symphony 1,90,000 7/5/16 By Wall 10,000
A/C Painting A/C
20/9/16 To Basu A/C 10,000
9/10/16 To Chopra A/C 10,000
10/10/16 To Sales A/C 1,80,000 10/5/16 By Cartage 15,000
A/C
11/10/16 To Roy A/C 5,000
20/10/16 To NUJS A/C 20,000
31/10/16 To Sales A/C 1,00,000 20/5/16 By Salary A/C 30,000
7/11/16 To Capital A/C 50,000 5/6/16 By Warehouse 40,000
Rent A/C
15/11/16 To Cash A/C 50,000 10/6/16 By Cash A/C 1,00,000
(C) (C)
20/11/16 To Sales A/C 75,000 15/6/16 By Fuel 5,000
Expenses A/C
25/11/16 To Sales A/C 50,000 27/6/16 By Salary A/C 30,000
5/1/17 To NUJS A/C 10,000
15/1/17 T Saraswati 1,45,000 29/6/16 By Telephone 4,500
Electronics A/C Bill A/C
18/1/17 To Bank A/C 2,50,000 29/6/16 By Electricity 15,000
(C) Bill A/C
30/6/16 By Renovation 10,000
A/C
10/2/17 To Sales A/C 50,000 3/7/16 By Warehouse 40,000
Rent A/C
15/2/17 To Bad Debts 50,000 6/7/16 By Drawings 50,000
Recovery A/C A/C
23/7/16 By Biswas 2,00,000
Traders A/C
27/7/16 By Salary A/C 30,000
2/8/16 By Warehouse 40,000
Rent A/C
17
15/8/16 By Biswas 1,50,000
Traders A/C
19/8/16 By Decoration 1,500
A/C
27/8/16 By Salary A/C 30,000
28/8/16 By Computer 2,000
Expenses A/C
Rent A/C
16/9/16 By Biswas 1,40,000
Traders A/C
28/9/16 By 15,000
Advertisement
A/C
29/9/16 By Salary A/C 30,000
30/9/16 By Electricity 15,000
Bill A/C
30/9/16 By Telephone 4,500
Bill A/C
Rent A/C
8/10/16 By Bonus A/C 10,000
25/10/1 By Salary A/C 30,000
6
Rent A/C
15/11/1 By Bank A/C 50,000
6 (C)
Rent A/C
25/12/1 By Salary A/C 30,000
6
18
25/12/1 By Salary 30,000
6 Outstanding
A/C
6 Bill A/C
6 Bill A/C
Rent A/C
18/1/17 By Cash A/C 2,50,000
(C)
20/1/17 By Salary A/C 30,000
25/1/17 By Purchases 4,00,000
A/C
Rent A/C
25/2/17 By Salary A/C 30,000
28/2/17 By Renovation 10,000
A/C
Rent A/C
28/3/17 By Salary A/C 30,000
Bill A/C
Bill A/C
28/3/17 By 5,000
Advertisement
A/C
31/3/17 To Bal c/f 3,93,000 4,32,000
4205000 4082000 4205000 4082000
19
ANNEXURE-IV
Capital Account
DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

31/3/17 To Balance c/f 50,50,000 1/4/16 By Land and 15,00,00
Building A/c 0
1/4/16 By Vehicles A/c 4,00,000
1/4/16 By Cash A/c 30,00,00
0
15/5/16 By Cash 100000
7/11/16 By Cash A/C 50,000
50,50,000 50,50,00
0
Electronic Equipment Account

5/4/16 To Cash A/c 50,000 31/3/17 By Balance c/f 50000
50000 50000
Land And Building A/C

1/4/16 To Capital A/c 15,00,000 31/3/17 By Balance c/f 15,00,00
0
15,00,000 15,00,00
0
20
Damro & co. Account

25/4/16 To Discount 5,000 11/4/16 By Furniture A/C 1,00,000
Received A/c
25/4/16 To Bank A/C 95,000
100000 100000
Discount Received Account

31/3/17 To Balance c/f 15000 25/4/16 By Damro & Co. 5000
A/c
16/9/16 By Biswas 10,000
Traders A/C
15000 15000
Discount Allowed Account

23/6/16 To Symphony 3,000 31/3/17 By Balance c/f 18000
A/c
14/9/16 To Symphony 10,000
A/c
15/1/17 To Saraswati 5,000
electronics A/C
18000 18000
Vehicle Account

1/4/16 To Capital A/c 4,00,000 30/3/17 By Depreciation 40,000
A/C
21
31/3/17 By Balance c/f 360000
400000 400000
Symphony & Co. account

3/5/16 To Sales A/c 2,00,000 23/6/16 By Discount 3,000
Allowed A/c
20/7/16 To Sales A/c 3,00,000 3/3/16 By Sales A/c 30,000
14/9/16 By Discount 10,000
Allowed A/c
14/9/16 By Bank A/c 1,90,000
15/12/16 By Bad Debts 70,000
A/C
11/6/16 By Bank A/c 1,00,000
23/6/16 By Bank A/c 97,000
500000 500000
Sales Account

26/4/16 By Basu traders 30,000
3/8/16 To Symphony 30,000 3/5/16 By Symphony 2,00,000
A/c A/c
25/5/16 By NUJS 50,000
28/6/16 By Roy Traders 25,000
A/C
31/3/17 To Balance c/f 20,75,000 20/7/16 By Symphony 3,00,000
A/c
28/7/16 By Chopra 20,000
traders A/c
29/8/16 By Cash A/c 75,000
10/10/16 By Cash A/C 1,80,000
22
31/10/16 By Cash A/C 1,00,000
20/11/16 By Cash A/C 75,000
25/11/16 By Bank A/C 50,000
20/12/16 By Saraswati 1,50,000
electronics A/C
10/2/17 By Cash A/C 50,000
14/4/16 By Bank A/c 4,50,000
20/4/16 By Cash A/c 1,00,000
13/6/16 By Bank A/c 2,50,000
21,50,000 21,50,00
0
Saraswati electronics Account

20/12/16 To Sales A/C 1,50,000 15/1/17 By Discount 5,000
Allowed A/C
15/1/17 By Bank A/C 1,45,000
1,50,000 1,50,000
Warehouse rent Account

10/4/16 To cash A/c 40,000 31/3/17 By Balance c/f 480000
2/5/16 To Cash A/C 40,000
3/7/16 To Cash A/c 40,000
2/8/16 To Cash A/c 40,000
3/9/16 To Cash A/c 40,000
5/10/16 To cash A/c 40,000
5/11/16 To Cash A/C 40,000
2/12/16 To Cash A/c 40,000
4/1/17 To Cash A/c 40,000
23
5/2/17 To Cash A/c 40,000
6/3/17 To Cash A/c 40,000
5/6/16 To Cash A/c 40,000
480000 480000
Decorations Account

19/8/16 To Cash A/c 1500 31/3/17 By Balance c/f 1500
1500 1500
Wall Painting Account

7/5/16 To cash A/c 10000 31/3/17 By Balance c/f 10000
10000 10000
Cartage A/c

15000 15000
Furniture account

11/4/16 To furniture 100000 30/3/17 By Depreciation 40,000
world A/C A/C
11/4/16 To bank A/c 3,00,000 31/3/17 By Balance c/f 3,60,000
4,00,000 4,00,000
24
Drawings Account

5/5/16 To Purchases A/c 2,000 31/3/17 By Balance c/f 81,000
11/7/16 To Purchases A/c 7,000
6/4/16 To Bank 15,000
6/7/16 To Bank A/c 50,000
11/7/16 To Purchases A/c 7,000
81,000 81,000
Salary Account

28/4/16 To Cash A/c 30,000 31/3/17 By Balance c/f 360000
27/6/16 To Cash A/c 30,000
27/7/16 To cash a/c 30,000
27/8/16 To cash a/c 30,000
29/9/16 To Cash A/C 30,000
31/11/16 To Salary 30,000
Outstanding A/C
25/12/16 To Cash A/c 30,000
20/1/17 To Cash A/c 30,000
25/2/17 To cash a/c 30,000
28/3/17 To cash a/c 30,000
20/5/16 To cash A/c 30,000
25/10/16 To Cash A/c 30,000
36,0000 36,0000
Salary Outstanding Account

25/12/16 To Cash A/C 30,000 31/11/16 By Salary A/c 30,000
30,000 30,000
25
Computer Expenses Account

28/8/16 To Cash A/c 2,000 31/3/17 By Balance c/f 2,000
2,000 2,000
Advertisement Account

28/9/16 To cash A/c 15,000
25000 25000
Purchases Account

15/7/16 To Biswas 5,00,000 5/5/16 By Drawings A/c 2,000
Traders A/c
10/4/16 To Bank A/c 19,50,000 11/7/16 By Drawings A/c 7,000
14/10/16 To Biswas 2,00,000 21/1/17 By Abnormal 12,000
Traders A/c Loss A/C
25/1/16 To Bank A/C 4,00,000 31/3/17 By Balance c/f 30,29,00
0
30,50,000 30,50,00
0
Abnormal Losses Account

21/1/17 To Purchases 12,000 31/3/17 By Balance c/f 12000
A/C
26
12000 12000
Biswas Traders A/c

23/7/16 To bank A/c 2,00,000 15/7/16 By Purchases 5,00,000
16/9/16 To bank A/c 1,40,000 14/10/16 By Purchases 2,00,000
A/C
16/9/16 To Discount 10,000
received A/c
15/8/16 To bank A/c 1,50,000
31/3/17 To Balance c/f 2,00,000
700000 700000
Telephone Bill Account

29/6/16 To Cash A/C 4,500 31/3/17 By Balance c/f 18000
30/9/16 To Cash A/C 4,500
26/12/16 To Cash A/C 4,500
28/3/16 To Cash A/C 4,500
18000 18000
Electricity Bill Account

29/6/16 To Cash A/C 15,000 31/3/17 By Balance c/f 60000
30/9/16 To Cash A/C 15,000
28/12/16 To Cash A/C 15,000
28/3/16 To Cash A/C 15,000
60000 60000
27
Bad Debts Account

15/12/16 To Symphony 70,000 31/3/17 By Balance c/f 70000
A/C
70000 70000
Bad Debts Recovery Account

31/3/17 To Balance c/f 50000 15/2/17 By Cash A/C 50,000
50000 50000
Depreciation Account

30/3/17 To Furniture A/C 40,000 31/3/17 By Balance c/f 80000
30/3/17 To Vehicles A/C 40,000
80000 80000
Basu Traders Account

26/4/16 To sales A/C 30,000 4/5/16 By Bank 10,000
4/7/16 By Cash 10,000
20/9/16 By Cash 10,000
30,000 30,000
NUJS Account

25/5/16 To sales A/C 50,000 20/6/16 By Cash 20,000
20/10/16 By Bank 20,000
28
5/1/17 By Cash 10,000
50,000 50,000
Roy Traders Account

28/6/16 To sales A/C 25,000 4/7/16 By Cash 10,000
16/8/16 By Bank 10,000
11/10/16 By Cash 5,000
25,000 25,000
Chopra Traders Account

28/7/16 To sales A/C 20,000 29/7/16 By Bank 10,000
9/10/16 By Cash 10,000
20,000 20,000
Bonus Account

8/10/16 To Cash A/C 10,000 31/3/17 By bal C/F 10,000
10,000 10,000
Renovation Account

30/6/16 To Cash A/C 10,000 31/3/17 By bal C/F 20,000
28/2/17 To Cash A/C 10,000
20,000 20,000
29
ANNEXURE-V
TRIAL BALANCE
Sl. No. PARTICULARS DEBIT CREDIT
1. Capital A/c - 50,50,00
0
2. Cash A/c 3,93,000 -
3. Bank A/c 4,32,000 -
4. Furniture A/c 3,60,000 -
5. Land and Building A/c 15,00,000 -
6. Purchases A/c 30,29,000 -
7. Sales A/c - 20,75,00
0
8. Biswas Traders - 2,00,000
9. Computer Expenses A/C 2,000 -
10. Warehouse Rent A/c 4,80,000 -
11. Salary A/c 3,60,000 -
12. Telephone Bill A/c 18,000 -
13. Electricity Bill A/c 60,000 -
14. Drawings A/c 81,000 -
15. Discount allowed A/c 18,000 -
16. Discount Received A/c - 15,000
17. Depreciation A/c 80,000 -
18. Cartage A/c 15,000 -
19. Advertisement 25,000
20. Vehicles A/C 3,60,000

21. Electronic Equipment A/C 50,000
22. Wall Painting A/C 10,000
23. Fuel Expenses A/C 5,000
24. Bad Debts A/C 70,000
25. Bad Debts Recovery A/C 50,000
26. Abnormal Losses A/C 12,000
30
27. Decoration A/C 1,500
28. Bonus A/C 10,000
29. Renovation A/C 20,000
30. Suspense A/C 1,500
73,91,500 73,91,50
0
31
ANNEXURE VI
TRADING ACCOUNTS
PARTICULARS AMOUNT PARTICULARS AMOUNT
(Dr.) (Cr.)
To Purchases 30,29,000 By Sales 20,75,000
To Cartage A/C 15,000 By Profit And Loss A/C 9,69,000
(Gross Loss)
30,44,000 30,44,000
P/L ACCOUNT AS ON 31/3/2017

PARTICULARS AMOUNT PARTICULARS AMOUNT
(Dr.) (Cr.)
To Trading A/C (Gross 9,69,000 By Discount Received 15,000
Loss)
To Warehouse Rent 4,80,000 By Bad Debts Recovery 50,000
To Computer A/C 2,000
To Electricity Bill 60,000
To Telephone Bill 18,000
To Salary 3,60,000
To Discount allowed 18,000
To Depreciation 80,000
To Advertisement A/C 25,000
To Wall Painting 10,000
To Decoration 1,500
To bonus A/C 10,000
To Renovation A/C 20,000
To Fuel Expenses 5,000
To Bad Debts 70,000
To Abnormal Losses A/C 12,000
By capital A/C ( NL) 20,75,500
21,40,500 21,40,500
32
BALANCE SHEET AS ON 31/3/2017
LIABILITY/ CAPITAL AMOUNT ASSETS AMOUNT
Capital 50,50,000 Cash A/c 3,93,000
Less: N.L. 20,75,500
Less: Drawings 81,000 28,93,500
Biswas Traders 2,00,000 Bank A/c 4,32,000
Suspense A/C 1,500 Furniture A/c 3,60,000
Land and BuildingA/C 15,00,000
Vehicles A/C 3,60,000
Electronic Equipment 50,000
A/c
30,95,000 30,95,000
33

National LAW University Odisha: Project On Electronic Store

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

National LAW University Odisha: Project On Electronic Store

Uploaded by

Copyright:

Available Formats

NATIONAL LAW UNIVERSITY ODISHA

Sudipto Koner 2016/BA LLB/106

PROJECT ON ELECTRONIC STORE

Under the guidance

Mr. AB Debasis Rout

SUBJECT: BASIC PRINCIPLES OF ACCOUNTING

NATURE OF BUSINESS: ................................................................................................................ 3

List of Transactions: .................................................................................................................. 4

Trial Balance ............................................................................................................................ 30

Trading accounts .................................................................................................................. 32

P/L account as on 31/3/2017 ................................................................................................ 32

Balance Sheet as on 31/3/2017 ............................................................................................ 33

35. 03/07/2016 Paid rent for warehouse in cash, Rs. 40,000.

54. 03/09/2016 Paid rent for warehouse in cash, Rs. 40,000.

62. 05/10/2016 Paid rent for warehouse in cash, Rs. 40,000.

77. 02/12/2016 Paid rent for warehouse in cash, Rs. 40,000.

83. 04/01/2017 Paid rent for warehouse in cash, Rs. 40,000.

90. 05/02/2017 Paid rent for warehouse in cash, Rs. 40,000.

95. 06/03/2017 Paid rent for warehouse in cash, Rs. 40,000.

DATE PARTICULARS L/F DR. CR.

10/4/16 Purchases A/C Dr. 19,50,000

2/5/16 Warehouse Rent A/C Dr. 40,000

20/7/16 Symphony A/C Dr. 3,00,000

3/8/16 Sales A/C Dr. 30,000

30/9/16 Electricity Bill A/C Dr. 15,000

25/11/16 Bank A/C Dr. 50,000

15/12/16 Bad Debts A/C Dr. 70,000

25/12/16 Salary A/C Dr. 30,000

4205000 4082000 4205000 4082000

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Electronic Equipment Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Land And Building A/C

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Discount Received Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Discount Allowed Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Symphony & Co. account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Saraswati electronics Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Warehouse rent Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Wall Painting Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Salary Outstanding Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Abnormal Losses Account

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT

Biswas Traders A/c

DATE PARTICULARS DEBIT DATE PARTICULARS CREDIT