INSTITUTE OF MANAGEMENT, NIRMA UNIVERSITY

BBA-MBA FIVE YEAR INTEGRATED PROGRAMME

YEAR – I, SEMESTER – I
PRINCIPLES OF FINANCIAL ACOUNTING

GROUP PROJECT

SUBMITTED TO:
PROF. AMOLA BHATT & PROF. NIYATI DAVE

SUBMITTED BY:
Section Roll No. Name Signature
FY-BBA (B) 157210 Bhakti Patel
FY-BBA (B) 157223 Manan Shah
FY-BBA (B) 157231 Nikhil Jaju
FY-BBA (B) 157252 Srijna Singh
FY-BBA (B) 157258 Utsav Agrawal

DATE OF SUBMISSION: 12/10/2015

 INDEX
S. NO BUSINESS
1 BUSINESS 1- JAY AMBE GENERAL STORE
2 BUSINESS 2- SUJAY STATIONERY MART
3 BUSINESS 3 –SHIV SHAKTI KIRANA STORE
4 BUSINESS 4 – YUMMIES BAKERY
5 BUSINESS 5 – SHREE RAM BHAROSE JUICE CENTER
6 BUSINESS 6 – STAR NET CYBER-CAFÉ
7 BUSINESS 7 – UMIYA MEDICAL
8 BUSINESS 8 – BANARASI PAN CENTER
9 BUSINESS 9 –VENUS STATIONERY STORE
10 BUSINESS 10 – VISION POINT OPTICS
1.
 1. JAY AMBE GENERAL STORES

CLASSIFICATION OF ITEMS

PARTICULARS CLASSIFICATION
Stock (Biscuit, Namkeens, Dairy Products, Assets
Sanitary Products, Cosmetic Products)
Debtors Asset
Fixed Assets (Office Furniture, Land, Asset
Equipment)
Cash in Hand Asset
Cash at Bank Asset
Bills Receivable Asset
Creditors Liabilities
Bills Payable Liabilities
Outstanding Interest Liabilities
Bank Loan Liabilities
Owners Capital Equity
Retained Earnings Equity
Telephone Expenses Expenses
Conveyance Expenses
Printing Expenses
Purchases Expenses
Carriage Inwards Expenses
Sales Return Expenses
Wages to Workers Expenses
Loss By Theft Expenses
Scrap Sold Incomes
Sales Incomes
Purchase Returns Incomes
Interest on Investments Incomes
Profit on Sale of Fixed Assets Incomes
 TRADING ACCOUNT OF JAY AMBE GENERAL STORES

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales
To Carriage Inwards Less: Returns
To Wages By Loss of stock due to
To Purchases theft
Less: Returns By Closing Stock
To Gross Profit By Gross Loss Transferred
transferred to Profit to P&L Account
&Loss A/C

PROFIT AND LOSS ACCOUNT OF JAY AMBE GENRAL STORES

FOR THE YEAR ENDING 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit b/d

To Depreciation on: By Sale of Scrap
Office Furniture By Interest earned
Equipment By Profit on sale of fixed
Property assets
To Electricity Expenses
To Conveyance
To Telephone Expenses
To Printing and
Stationery
To Interest on Loan
Add: Outstanding
To Loss by Theft
To Net Profit transferred
to Capital Account
 BALANCE SHEET OF JAY AMBE GENRAL STORES

FOR THE YEAR ENDING ON 31 MARCH 2015

LIABILITIES AMOUNT ASSETS AMOUNT

Capital Land
Add: Retained Earnings Less: Depreciation
Add: Net Profit Equipment
Bank Loan Less: Depreciation
Outstanding Interest Furniture
Creditors Less: Depreciation
Bills Payable Investments
Closing Stock
Debtors
Bills Receivable
Cash at Bank
Cash in Hand
 2. SUJAY STATIONERY SHOP

CLASSIFICATION OF ITEMS

PARTICULARS CLASSIFICATION
Stock (Pens, Pencils, Notebooks, Study Assets
Guides, Erasers, etc)
Fixed Assets (Office Furniture, Xerox Assets
Machine, Scanner, Printer)
Investments Assets
Debtors Assets
Cash in Hand Assets
Cash at Bank Assets
Creditors Liabilities
Outstanding Interest Liabilities
Bank Loan Liabilities
Owners Capital Equity
Retained Earnings Equity
Telephone Expenses Expenses
Electricity Expenses Expenses
Purchases Expenses
Sales Returns Expenses
Wages Expenses
Depreciation Expenses
Rent Expenses
Sales Income
Purchase Return Income
 TRADING ACCOUNT OF SUJAY STATIONERY SHOP

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr Cr

DATE PARTICULARS AMOUNT DATE PARTICULARS AMOUNT

To Opening Stock By Sales
To Wages Less: Returns
To Purchases By Closing Stock
Less: Returns By Gross Loss
To Gross Profit transferred to Profit
transferred to &Loss A/C
Profit &Loss A/C

PROFIT AND LOSS ACCOUNT OF SUJAY STATIONERY SHOP

FOR THE YEAR ENDING 31 MARCH 2015

Dr. Cr.

DATE PARTICULARS AMOUNT DATE PARTICULARS AMOUNT

To Gross Loss b/d By Gross Profit b/d

To Depreciation on:
Furniture
Machinery
To Electricity
Expenses
To Rent
To Telephone
Expenses
To Interest on Loan
Add: Outstanding
To Net Profit
transferred to
Capital Account
 BALANCE SHEET OF SUJAY STATIONERY SHOP

FOR THE YEAR ENDING ON 31 MARCH 2015

LIABILITIES AMOUNT ASSETS AMOUNT

Capital Furniture
Add: Retained Earnings Less: Depreciation
Add: Net Profit Machinery
Bank Loan Less: Depreciation
Outstanding Interest Closing Stock
Creditors Debtors
Cash at Bank
Cash in Hand
 3. SHIV SHAKTI KIRANA STORE

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Returns Outward Expenses
Wages Expenses
Salaries Expenses
Furniture Assets
Office Expenses Expenses
Stationery Expenses Expenses
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Allowed Expenses
Discount Received Income
Rent and Taxes Expenses
Outstanding Rent Liability
Land Assets
Stock Assets
Bills Relievable Assets
Outstanding Expenses Expenses
 TRADING ACCOUNT OF SHIV SHAKTI KIRANA STORE
FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales ----
To Carriage Inward Less: Sales Return (---)
To Cartage Inward By Closing Stock
To Freight Inward By Gross Loss Transferred to P&L
Account
To Purchases
To Wages and Salaries
To Gross Profit Transferred to
P&L Account

PROFIT AND LOSS ACCOUNT OF SHIV SHAKTI KIRANA STORE

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries By Interest Received
To Rent Paid By Discount Allowed
To Discount Allowed By Commission Received
To Interest Allowed By Net Loss Transferred to Capital
Account
To Carriage Outwards
To Commission Allowed
To General Expense
To Net Profit Transferred to
Capital Account
 BALANCE SHEET OF SHIV SHAKTI KIRANA STORE

FOR THE YEAR ENDING ON 31 MARCH 2015

Dr. Cr.

LIABILITIES AMOUNT ASSETS AMOUNT

Capital ---- Fixed Assets

Add:- Profit ---- Furniture & Fixtures

Less:- Loss ---- Closing Stock

Less:- Drawing ---- Prepaid Expense

Current Liabilities Investments

Long Term Liabilities Cash In Hand

Bank Overdraft Cash at Bank

Bills Payable Bills Receivable

 4. YUMMIES BAKERY

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Returns Outward Expenses
Wages Expenses
Salaries Expenses
Furniture Assets
Office Expenses Expenses
Stationery Expenses Expenses
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Allowed Expenses
Discount Received Income
Rent and Taxes Expenses
Outstanding Rent Liability
Land Assets
Stock Assets
Bills Relievable Assets
Outstanding Expenses Expenses
Interest Income
 TRADING ACCOUNT OF YUMMIES BAKERY
FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales ----
To Carriage Inward Less: Sales Return (---)
To Cartage Inward By Closing Stock
To Freight Inward By Gross Loss Transferred to P&L
Account
To Purchases
To Wages and Salaries
To Gross Profit Transferred to
P&L Account

PROFIT AND LOSS ACCOUNT OF YUMMIES BAKERY

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries By Interest Received
To Rent Paid By Discount Allowed
To Discount Allowed By Commission Received
To Interest Allowed By Net Loss Transferred to Capital
Account
To Carriage Outwards
To Commission Allowed
To General Expense
To Net Profit Transferred to
Capital Account
 BALANCE SHEET OF YUMMIES BAKERY
FOR THE YEAR ENDING ON 31 MARCH 2015

Dr. Cr.

LIABILITIES AMOUNT ASSETS AMOUNT

Capital ---- Fixed Assets

Add:- Profit ---- Furniture & Fixtures

Less:- Loss ---- Closing Stock

Less:- Drawing ---- Prepaid Expense

Current Liabilities Investments

Long Term Liabilities Cash In Hand

Bank Overdraft Cash at Bank

Bills Payable Bills Receivable

 5. Shri Ram Bharose Juice Center

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Returns Outward Expenses
Wages Expenses
Salaries Expenses
Furniture Assets
Office Expenses Expenses
Stationery Expenses Expenses
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Allowed Expenses
Discount Received Income
Shop Assets
Outstanding Rent Liability
Stock Assets
General Expenses Expense
Machinery Asset
Advertisement Expense Expense
Profit on Sale of Machine Income
 TRADING ACCOUNT OF SHRI RAM BHAROSE JUICE CENTER
FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales
To Purchases By Closing Stock
To Wages and Salaries By Abnormal Loss Of Stock
To Gross Profit Transferred to By Gross Loss Transferred to P&L
P&L Account Account

PROFIT AND LOSS ACCOUNT OF SHRI RAM BHAROSE JUICE CENTER

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries By Interest Received
To Discount Allowed By Discount Received
To Rent By Profit on Sale of Machinery
To General Expense By Net Loss Transferred to Capital
Account
To Depreciation (Furniture and
Machinery)
To Advertisement Expenses
To Bad Debts

To Abnormal Loss Of Stock

To Net Profit Transferred to
Capital Account
 BALANCE SHEET OF SHRI RAM BHAROSE JUICE CENTER
FOR THE YEAR ENDING ON 31 MARCH 2015

Dr. Cr.

LIABILITIES AMOUNT ASSETS AMOUNT

Capital ---- Fixed Assets

Add:- Profit ---- Furniture & Fixtures ----

Less:- Depreciation (----)
Less:- Loss ---- Machinery ----
Less:- Depreciation (----)
Less:- Drawing ---- Debtors ----
Less:- Bad Debts (----)
Current Liabilities Closing Stock

Outstanding Expenses Cash In Hand

Cash at Bank

Bills Receivable
 6.STAR NET CYBER-CAFÉ

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Returns Outward Expenses
Wages Expenses
Salaries Expenses
Furniture Assets
Office Expenses Expenses
Stationery Expenses Expenses
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Allowed Expenses
Discount Received Income
Rent and Taxes Expenses
Outstanding Rent Liability
Carriage Inwards Expenses
Electricity Expenses
Office Asset
Mobile Phones Asset
Air Conditioner Asset
Advertisement Expenses Expenses
Insurance Expenses
Depreciation Expenses
 TRADING ACCOUNT OF STARNET CYBER-CAFE
FOR THE PERIOD ENDING ON 31 MARCH 2015
PARTICULARS AMOUNT PARTICULARS AMOUNT
To Purchases A/c By Sales A/c
Less: Returns Outward By Gross Loss Transferred
To Wages A/c to P&L Account
To Carriage Inwards A/c
To Gross Profit Transferred
to P&L Account

PROFIT AND LOSS ACCOUNT OF STARNET CYBER-CAFE

FOR THE PERIOD ENDING ON 31 MARCH 2015
PARTICULARS AMOUNT PARTICULARS AMOUNT
To Gross Loss B/D By Gross Profit B/D
To Salaries A/c By Discount Received A/c
To Expenses A/c
Office
Stationery
To Discount Allowed A/c
To Rent And Taxes A/c
Add: Outstanding Rent
To Electricity A/c
To Insurance A/c
To Depreciation A/c
To Advertisement Expenses
A/c
To Interest On Loan A/c
 BALANCE SHEET OF STARNET CYBER-CAFE
FOR YEAR ENDING ON 31 MARCH 2015
LIABILITIES AMOUNT ASSETS AMOUNT
Capital Cash in Hand
Less: Drawings Cash at Bank
Creditors Furniture
Outstanding Rent Air Conditioner
Loan Mobile Phones
Office
 7. Umiya Medical Stores

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Sales Income
Purchases Expenses
Returns Outward Expenses
Returns Inward Income
Wages Expenses
Furniture Assets
Cash in Hand Assets
Transport Expenses Expenses
Cash at Bank Assets
Creditors Liability
Debtors Assets
Discount Received Income
Rent Expenses
Income Tax Equity
Stationery Expenses Expenses
Carriage Inwards Expenses
Miscellaneous Bills Expenses
Salaries Expenses
Office Asset
Computer Asset
Air Conditioner Asset
Advertisement Expenses Expenses
Stationery Assets
Printer Assets
Bills Payable Liability
 TRADING ACCOUNT OF UMIYA MEDICAL STORES
FOR THE PERIOD ENDING ON 31 MARCH 2015

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Purchases A/c By Sales A/c
Less: Returns Outward Less: Returns Inwards
To Wages A/c By Gross Loss Transferred to
To Carriage Inwards A/c P&L Account
To Gross Profit Transferred
to P&L Account

PROFIT AND LOSS ACCOUNT OF UMIYA MEDICAL STORES

FOR THE PERIOD ENDING ON 31 MARCH 2015

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries A/c By Discount Received A/c
To Expenses A/c
Transport
Stationery
To Rent A/c
To Miscellaneous Bills A/c
To Advertisement Expenses
A/c
 BALANCE SHEET OF UMIYA MEDICAL STORES
FOR THE YEAR ENDING ON 31 MARCH 2015

LIABILITIES AMOUNT ASSETS AMOUNT

Capital Cash in Hand
Less: Drawings Cash at Bank
Less: Income Tax Furniture
Creditors Air Conditioner
Bills Payable Computer
Debtors
Stationery
Printer
Office
 8. Banarasi Pan Center

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Salaries Expenses
Furniture Assets
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Received Income
Shop Assets
Stock Assets
General Expenses Expense
Depreciation Expense
General Expense Expense
Electricity Expense Expense
Debtors Asset
Investment Asset
Interest on Investment Income
 TRADING ACCOUNT OF BANARASI PAN CENTER

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales
To Purchases By Closing Stock
To Gross Profit Transferred to By Gross Loss Transferred to P&L
P&L Account Account

PROFIT AND LOSS ACCOUNT OF VISION POINT OPTICS

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries By Interest Received
To Electricity Expense By Net Loss Transferred to Capital
Account
To Depreciation
To General Expense
To Net Profit Transferred to
Capital Account
 BALANCE SHEET OF VISION POINT OPTICS
FOR THE YEAR ENDING ON 31 MARCH 2015

Dr. Cr.

LIABILITIES AMOUNT ASSETS AMOUNT

Capital ---- Fixed Assets

Add:- Profit ---- Furniture

Less:- Loss ---- Shop

Less:- Drawing ---- Closing Stock

Creditors Cash In Hand

Cash at Bank

Debtors
 9. Venus Stationery

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Returns Outward Expenses
Wages Expenses
Salaries Expenses
Furniture Assets
Office Expenses Expenses
Stationery Expenses Expenses
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Allowed Expenses
Discount Received Income
Shop Assets
Outstanding Rent Liability
Stock Assets
General Expenses Expense
 TRADING ACCOUNT OF VENUS STATIONERY
FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales ----
To Carriage Inward Less: Sales Return (---)
To Cartage Inward By Closing Stock
To Purchases By Gross Loss Transferred to P&L
Account
To Wages and Salaries
To Gross Profit Transferred to
P&L Account

PROFIT AND LOSS ACCOUNT OF VENUS STATIONERY

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries By Interest Received
To Discount Allowed By Discount Allowed
To Carriage Outwards By Commission Received
To General Expense By Net Loss Transferred to Capital
Account
To Net Profit Transferred to
Capital Account
 BALANCE SHEET OF VENUS STATIONERY
FOR THE YEAR ENDING ON 31 MARCH 2015

Dr. Cr.

LIABILITIES AMOUNT ASSETS AMOUNT

Capital ---- Fixed Assets

Add:- Profit ---- Furniture & Fixtures

Less:- Loss ---- Closing Stock

Less:- Drawing ---- Prepaid Expense

Current Liabilities Investments

Long Term Liabilities Cash In Hand

Cash at Bank

Bills Receivable
 10.Vision Point Optics

Business Items Classification

NAME OF THE ACCOUNT CLASSIFICATION

Capital Equity
Drawings Equity
Loan Liability
Interest on Loan Expenses
Sales Income
Purchases Expenses
Returns Outward Expenses
Wages Expenses
Salaries Expenses
Furniture Assets
Office Expenses Expenses
Stationery Expenses Expenses
Cash in Hand Assets
Cash at Bank Assets
Creditors Liability
Discount Allowed Expenses
Discount Received Income
Shop Assets
Outstanding Rent Liability
Stock Assets
General Expenses Expense
Machinery Assets
Loose Tools Assets
Depreciation Expense
General Expense Expense
 TRADING ACCOUNT OF VISION POINT OPTICS

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Opening Stock By Sales ----
To Carriage Inward Less: Sales Return (---)
To Cartage Inward By Closing Stock
To Purchases By Gross Loss Transferred to P&L
Account
To Wages and Salaries
To Gross Profit Transferred to
P&L Account

PROFIT AND LOSS ACCOUNT OF VISION POINT OPTICS

FOR THE PERIOD ENDING ON 31 MARCH 2015

Dr. Cr.

PARTICULARS AMOUNT PARTICULARS AMOUNT

To Gross Loss B/D By Gross Profit B/D
To Salaries By Interest Received
To Discount Allowed By Discount Allowed
To Carriage Outwards By Commission Received
To General Expense By Net Loss Transferred to Capital
Account
To Depreciation
To Net Profit Transferred to
Capital Account
 BALANCE SHEET OF VISION POINT OPTICS
FOR THE YEAR ENDING ON 31 MARCH 2015

Dr. Cr.

LIABILITIES AMOUNT ASSETS AMOUNT

Capital ---- Fixed Assets

Add:- Profit ---- Furniture & Fixtures

Less:- Loss ---- Machine

Less:- Drawing ---- Prepaid Expense

Current Liabilities Closing Stock

Bank Loan Cash In Hand

Bills Payable Cash at Bank

Incomes Received in advance Bills Receivable

Outstanding Expenses Debtors