Date

Transaction Mr.X decided to start the business in the name of M/s Simca Traders 01/04/2010 to trade in spare parts 04/04/2010 Mr. X introduced cash in the business 05/04/2010 06/04/2010 08/04/2010 10/04/2010 07/05/2010 15/05/2010 20/05/2010 25/05/2010 26/05/2010 07/06/2010 10/06/2010 15/06/2010 20/06/2010 07/07/2010 10/07/2010 15/07/2010 18/07/2010 25/07/2010 07/08/2010 15/08/2010 18/08/2010 Purchased merchandise from M/s supplier @5% trade discount Purchased office furniture Purchased computer & printer Deposited cash in bank account opened with BOM Paid salaries by cheque cash sales Purchased merchandise @4% trade discount Sales to customer one cash sales salaries paid by cheque Rent paid by cheque (1/4/2010 to 30/6/2010) Rent paid in advance from 1/7/2010 to 31/12/2010) Electricity charges paid by cheque salaries paid by cheque Telephone bill settled in cash cash sales Purchased merchandise from M/s supplier @5% trade discount Spare parts sold to M/s Repairs Garage Salaries paid in cash Electricity charges paid by cheque Telephone bill settled by cheque M/s Speed logistics submitted the bill for providing cargo services till 31/7/2010(From M/s supplier to Simca Traders' warehouse) salaries paid by cheque Electricity charges paid by cheque Purchase order received from M/s Client Despatched consignment to M/s Client through M/s Rush Logistics agst PO dt. 2/10/2010 salaries paid by cheque Payment received from M/s client by cheque Telephone bill settled by cheque Part payment to M/s Supplier by cheque Purchsed merchandise from M/s Supplier cash sales salaries paid by cheque Final payment received by cheque from M/s Client after allowing discount Rs. 2000

Amount Rs.

1,000,000 50,000 15,000 30,000 80,000 12,000 2,500 200,000 75,000 11,000 12,000 3,000 12,000 3,000 12,000 1,200 12,500 85,000 55,000 12,000 3,500 3,500

25/08/2010 07/09/2010 15/09/2010 26/09/2010 02/10/2010 07/10/2010 12/10/2010 25/10/2010 01/11/2010 04/11/2010 06/11/2010 07/11/2010 01/12/2010

2,800 12,000 4,000 170,000

12,000 135,000 4,000 150,000 75,000 25,000 12,000

06/12/2010 Bill received from M/s Speed Logistics settled by cheque 07/12/2010 salaries paid by cheque Bill received from M/s Rush Logistics till date (for delivering 15/12/2010 consignment to customers)

12,000 3,750

Muncipal corporation sent a notice for demand of property tax for 28/12/2010 office premises which was forwarded to the landlord 29/12/2010 cash sales 31/12/2010 Cash in excess of Rs. 15,000 was deposited in current account. A demand notice was received from octroi dept. against which payment was made by cheque on priority salaries paid by cheque Rent paid by cheque for the month Purchase order was placed with M/s Supplier Received consignment from M/s Supplier along with the invoice agst 04/02/2011 PO dt.2/2/2011 05/01/2011 07/01/2011 10/01/2011 02/02/2011 The consignment received on 4/2/11 was despatched to M/s Client along with the invoice dated 5/2/11 Cash sales Salaries paid in cash Rent paid by cheque for the month

15,000 55,000

7,500 12,000 2,000 85,000

05/02/2011 06/02/2011 07/02/2011 10/02/2011

97,500 13,500 12,000 2,000

01/03/2011 01/03/2011 07/03/2011 10/03/2011 10/03/2011 10/03/2011 31/03/2011

Cheque received from M/s client was deposited in current account. This was cheque received in full & final settlement. Insurance premium paid by cheque for fire insurance policy. The period: 1/3/11 to 29/2/11) 1,440 salaries paid by cheque 12,000 Rent paid by cheque for the month 2,000 Amount due to M/s Rush Logistics paid by cheque Amount due to M/s Speed Logistics paid by cheque Purchase order placed with M/s Supplier 175,000

Account to be debited

Account to be credited

Cash A/c Purchases A/c Furniture A/c Compuer & Printer A/c Bank A/c Salaries A/c Cash A/c Purchases A/c Customer One Cash A/c Salaries A/c Rent A/c Rent A/c Electricity Charges A/c Salaries A/c Telephone Exp A/c Cash A/c Purchases A/c M/s Repairs Garage A/c Salaries A/c Electricity Charges A/c Telephone Exp A/c

X's Capital A/c M/s Supplier Cash A/c Cash A/c Cash A/c Bank A/c Sales A/c Cash A/c Sales A/c Sales A/c Bank A/c Bank A/c Bank A/c Bank A/c Bank A/c Cash A/c Sales A/c M/s Supplier Sales A/c Cash A/c Bank A/c Bank A/c

Carriage Inward A/c Salaries A/c Electricity Charges A/c

M/s Speed Logistics A/c Bank A/c Bank A/c

M/s Client's A/c Salaries A/c Bank A/c Telephone Exp A/c M/s Supplier's A/c Purchases A/c Cash A/c Salaries A/c Bank A/c and Discount A/c M/s Speed Logistics A/c Salaries A/c Carriage Outward A/c

Sales A/c Bank A/c M/s Client's A/c Bank A/c Bank A/c M/s Supplier Sales A/c Bank A/c M/s Client's A/c Bank A/c Bank A/c M/s Rush Logistics A/c

Cash A/c Bank A/c

Sales A/c Cash A/c

Octroi Charges A/c Salaries A/c Rent A/c

Bank A/c Bank A/c Bank A/c

Purchases A/c

M/s Supplier

M/s Client's A/c Cash A/c Salaries A/c Rent A/c

Sales A/c Sales A/c Cash A/c Bank A/c

Bank A/c and Discount A/c Insurance A/c Salaries A/c Rent A/c M/s Rush Logistics A/c M/s Speed Logistics A/c

M/s Client A/c Bank A/c Bank A/c Bank A/c Bank A/c Bank A/c

Date

Transaction Mr.X decided to start the business in the name of M/s Simca Traders 01/04/2010 to trade in spare parts 04/04/2010 Mr. X introduced cash in the business 05/04/2010 06/04/2010 08/04/2010 10/04/2010 07/05/2010 15/05/2010 20/05/2010 25/05/2010 26/05/2010 07/06/2010 10/06/2010 15/06/2010 20/06/2010 07/07/2010 10/07/2010 15/07/2010 18/07/2010 25/07/2010 07/08/2010 15/08/2010 18/08/2010 Purchased merchandise from M/s supplier @5% trade discount Purchased office furniture Purchased computer & printer Deposited cash in bank account opened with BOM Paid salaries by cheque cash sales Purchased merchandise @4% trade discount Sales to customer one cash sales salaries paid by cheque Rent paid by cheque (1/4/2010 to 30/6/2010) Rent paid in advance from 1/7/2010 to 31/12/2010) Electricity charges paid by cheque salaries paid by cheque Telephone bill settled in cash cash sales Purchased merchandise from M/s supplier @5% trade discount Spare parts sold to M/s Repairs Garage Salaries paid in cash Electricity charges paid by cheque Telephone bill settled by cheque M/s Speed logistics submitted the bill for providing cargo services till 31/7/2010(From M/s supplier to Simca Traders' warehouse) salaries paid by cheque Electricity charges paid by cheque Purchase order received from M/s Client Despatched consignment to M/s Client through M/s Rush Logistics agst PO dt. 2/10/2010 salaries paid by cheque Payment received from M/s client by cheque Telephone bill settled by cheque Part payment to M/s Supplier by cheque Purchsed merchandise from M/s Supplier cash sales salaries paid by cheque Final payment received by cheque from M/s Client after allowing discount Rs. 2000

Amount Rs.

1,000,000 50,000 15,000 30,000 80,000 12,000 2,500 200,000 75,000 11,000 12,000 3,000 12,000 3,000 12,000 1,200 12,500 85,000 55,000 12,000 3,500 3,500

25/08/2010 07/09/2010 15/09/2010 26/09/2010 02/10/2010 07/10/2010 12/10/2010 25/10/2010 01/11/2010 04/11/2010 06/11/2010 07/11/2010 01/12/2010

2,800 12,000 4,000 170,000

12,000 135,000 4,000 150,000 75,000 25,000 12,000

06/12/2010 Bill received from M/s Speed Logistics settled by cheque 07/12/2010 salaries paid by cheque Bill received from M/s Rush Logistics till date (for delivering 15/12/2010 consignment to customers)

12,000 3,750

Muncipal corporation sent a notice for demand of property tax for 28/12/2010 office premises which was forwarded to the landlord 29/12/2010 cash sales 31/12/2010 Cash in excess of Rs. 15,000 was deposited in current account. A demand notice was received from octroi dept. against which payment was made by cheque on priority salaries paid by cheque Rent paid by cheque for the month Purchase order was placed with M/s Supplier Received consignment from M/s Supplier along with the invoice agst 04/02/2011 PO dt.2/2/2011 05/01/2011 07/01/2011 10/01/2011 02/02/2011 The consignment received on 4/2/11 was despatched to M/s Client along with the invoice dated 5/2/11 Cash sales Salaries paid in cash Rent paid by cheque for the month

15,000 55,000

7,500 12,000 2,000 85,000

05/02/2011 06/02/2011 07/02/2011 10/02/2011

97,500 13,500 12,000 2,000

01/03/2011 01/03/2011 07/03/2011 10/03/2011 10/03/2011 10/03/2011 31/03/2011

Cheque received from M/s client was deposited in current account. This was cheque received in full & final settlement. Insurance premium paid by cheque for fire insurance policy. The period: 1/3/11 to 29/2/11) 1,440 salaries paid by cheque 12,000 Rent paid by cheque for the month 2,000 Amount due to M/s Rush Logistics paid by cheque Amount due to M/s Speed Logistics paid by cheque Purchase order placed with M/s Supplier 175,000

Account to be debited

Account to be credited

Cash A/c Purchases A/c Furniture A/c Compuer & Printer A/c Bank A/c Salaries A/c Cash A/c Purchases A/c Customer One A/c Cash A/c Salaries A/c Rent A/c Rent A/c Electricity Charges A/c Salaries A/c Telephone Exp A/c Cash A/c Purchases A/c M/s Repairs Garage A/c Salaries A/c Electricity Charges A/c Telephone Exp A/c

X's Capital A/c M/s Supplier Cash A/c Cash A/c Cash A/c Bank A/c Sales A/c Cash A/c Sales A/c Sales A/c Bank A/c Bank A/c Bank A/c Bank A/c Bank A/c Cash A/c Sales A/c M/s Supplier Sales A/c Cash A/c Bank A/c Bank A/c 80750 47500

192000

Carriage Inward A/c Salaries A/c Electricity Charges A/c

M/s Speed Logistics A/c Bank A/c Bank A/c

M/s Client's A/c Salaries A/c Bank A/c Telephone Exp A/c M/s Supplier's A/c Purchases A/c Cash A/c Salaries A/c Bank A/c and Discount A/c M/s Speed Logistics A/c Salaries A/c Carriage Outward A/c

Sales A/c Bank A/c M/s Client's A/c Bank A/c Bank A/c M/s Supplier Sales A/c Bank A/c M/s Client's A/c Bank A/c Bank A/c M/s Rush Logistics A/c

Cash A/c Bank A/c

Sales A/c Cash A/c

Octroi Charges A/c Salaries A/c Rent A/c

Bank A/c Bank A/c Bank A/c

Purchases A/c

M/s Supplier

M/s Client's A/c Cash A/c Salaries A/c Rent A/c

Sales A/c Sales A/c Cash A/c Bank A/c

Bank A/c Insurance A/c Salaries A/c Rent A/c M/s Rush Logistics A/c M/s Speed Logistics A/c

M/s Client's A/c Bank A/c Bank A/c Bank A/c Bank A/c Bank A/c

Dr Date Particulars

Ledger of M/s Simca Traders CASH A/c JF Amount Rs. Date Particulars

Cr JF Amount Rs.

04/04/2010 To X's Capital A/c

1,000,000 06/04/2010 By Furniture A/c 08/04/2010 By Compuer & Printer A/c 10/04/2010 By Bank A/c 15,000 30,000 80,000 192,000 1,200 12,000

15/05/2010 To Sales A/c

2,500 20/05/2010 By Purchases A/c

26/05/2010 To Sales A/c 15/07/2010 To Sales A/c 06/11/2010 To Sales A/c 29/12/2010 To Sales A/c

11,000 12,500 25,000 55,000

10/07/2010 By Telephone Exp A/c 07/08/2010 By Salaries A/c

Total Rs. 01/01/11 To Balance B/d 06/02/2011 To Sales A/c

1,106,000 15,000 13,500

31/12/2010 By Bank A/c 31/12/2010 By By Balance c/d Total Rs. 07/02/2011 By Salaries A/c 31/03/11 By Balance c/d

760,800 15,000 1,106,000 12,000 16,500 28,500 Cr JF Amount Rs.

Total Rs. Dr Date 05/04/2010 20/05/2010 18/07/2010 04/11/2010 04/02/2011 Particulars To To To To To M/s Supplier Cash A/c M/s Supplier M/s Supplier M/s Supplier

28,500 PURCHASES A/C JF Amount Rs. Date 47,500 192,000 80,750 75,000 85,000

Total Rs.

Particulars

31/03/2011 By Balance C/d Total Rs. 480,250 Total Rs.

480,250 480,250

Dr Date Particulars

FURNITURE A/C JF Amount Rs. Date 15,000

Particulars

Cr JF Amount Rs.

06/04/2010 To Cash A/c

31/03/2011 By Balance c/d Total Rs. Dr Date Particulars 08/04/2010 To Cash A/c 15,000 COMPUTER & PRINTER A/C JF Amount Rs. Date Particulars 30,000 31/03/2011 By Balance c/d Total Rs. Dr Date Particulars 30,000 BANK A/C JF Amount Rs. 80,000 07/05/2010 07/06/2010 10/06/2010 15/06/2010 20/06/2010 07/07/2010 15/08/2010 18/08/2010 07/09/2010 15/09/2010 By By By By By By By By By By Salaries A/c Salaries A/c Rent A/c Rent A/c Electricity Charges A/c Salaries A/c Electricity Charges A/c Telephone Exp A/c Salaries A/c Electricity Charges A/c Total Rs. Total Rs.

15,000 15,000 Cr JF Amount Rs.

30,000 30,000 Cr JF Amount Rs.

Date

Particulars

10/04/2010 To Cash A/c

12,000 12,000 3,000 12,000 3,000 12,000 3,500 3,500 12,000 4,000

12/10/2010 To M/s Client's A/c 01/12/2010 To M/s Client's A/c 31/12/2010 To Cash A/c

135,000 33,000 760,800

01/03/2011 To M/s Client's A/c

97,500

07/10/2010 25/10/2010 01/11/2010 07/11/2010 06/12/2010 07/12/2010 05/01/2011 07/01/2011 10/01/2011 10/02/2011 01/03/2011 07/03/2011 10/03/2011 10/03/2011

By By By By By By By By By By By By By By

Salaries A/c Telephone Exp A/c M/s Supplier's A/c Salaries A/c M/s Speed Logistics A/c Salaries A/c Octroi Charges A/c Salaries A/c Rent A/c Rent A/c Insurance A/c Salaries A/c Rent A/c M/s Rush Logistics A/c

12,000 4,000 150,000 12,000 2,800 12,000 7,500 12,000 2,000 2,000 1,440 12,000 2,000 3,750 793,810

31/03/2011 By Balance c/d

Total Rs.

1,106,300

Total Rs.

1,106,300

Dr Date 07/05/2010 07/06/2010 07/07/2010 07/08/2010 07/09/2010 07/10/2010 07/11/2010 07/12/2010 07/01/2011 07/02/2011 07/03/2011 Particulars To Bank A/c To Bank A/c To Bank A/c To Cash A/c To Bank A/c To Bank A/c To Bank A/c To Bank A/c To Bank A/c To Cash A/c To Bank A/c

SALARIES A/C JF Amount Rs. 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000

Date

Particulars

Cr JF Amount Rs.

31/03/2011 By Balance c/d Total Rs. Dr Date Particulars 132,000 CUSTOMER ONE A/C JF Amount Rs. Date 75,000 31/03/2011 By Balance c/d Total Rs. Dr Date 10/06/2010 15/06/2010 10/01/2011 10/02/2011 10/03/2011 Particulars To To To To To Bank A/c Bank A/c Bank A/c Bank A/c Bank A/c 75,000 RENT A/C JF Amount Rs. 3,000 12,000 2,000 2,000 2,000 31/03/2011 By Balance c/d Total Rs. Dr Date Particulars 21,000 ELECTRICITY CHARGES A/C JF Amount Rs. Date Particulars 3,000 3,500 4,000 31/03/2011 By Balance c/d Total Rs. 10,500 Total Rs. Total Rs. Total Rs. Total Rs.

132,000 132,000 Cr JF Amount Rs.

Particulars

25/05/2010 To Sales A/c

75,000 75,000 Cr JF Amount Rs.

Date

Particulars

21,000 21,000 Cr JF Amount Rs.

20/06/2010 To Bank A/c 15/08/2010 To Bank A/c 15/09/2010 To Bank A/c

10,500 10,500

Dr Date 10/07/2010 18/08/2010 25/10/2010 Particulars Cash A/c Bank A/c Bank A/c

TELEPHONE EXP A/C JF Amount Rs. Date 1,200 3,500 4,000

Particulars

Cr JF Amount Rs.

31/03/2011 By Balance c/d Total Rs. Dr Date Particulars 8,700 M/S REPAIRS GARAGE A/C JF Amount Rs. Date Particulars 55,000 31/03/2011 By Balance c/d Total Rs. 55,000 Total Rs. Total Rs.

8,700 8,700 Cr JF Amount Rs.

25/07/2010 To Sales A/c

55,000 55,000

Dr Date Particulars

CARRIAGE INWARD A/C JF Amount Rs. Date Particulars 2,800 31/03/2011 By Balance c/d Total Rs. 2,800 Total Rs.

Cr JF Amount Rs.

25/08/2010 To M/s Speed Logistics A/c

2,800 2,800

Dr Date Particulars

CARRIAGE OUTWARD A/C JF Amount Rs. Date Particulars 3,750 31/03/2011 By Balance c/d Total Rs. 3,750 Total Rs.

Cr JF Amount Rs.

15/12/2010 To M/s Rush Logistics A/c

3,750 3,750

Dr Date Particulars

INSURANCE A/C JF Amount Rs. Date 1,440

Particulars

Cr JF Amount Rs.

01/03/2011 To Bank A/c

31/03/2011 By Balance c/d Total Rs. 1,440 Total Rs.

1,440 1,440

Dr Date Particulars

M/s Client's A/c JF Amount Rs. 170,000

Date

Particulars

Cr JF Amount Rs.

02/10/2010 To Sales A/c

12/10/2010 By Bank A/c 01/12/2010 By Bank A/c 01/12/2010 By Discount A/c

170,000 -

135,000 33,000 2,000

170,000

02/12/2010 To Balance b/d 05/02/2011 To Sales A/c

97,500 01/03/2011 Total Rs. 97,500 M/s Rush Logistics JF Amount Rs. Date 15/12/2010 Bank A/c Total Rs. 97,500 97,500 Cr JF Amount Rs. 3,750

Dr Date Particulars

Particulars Carriage Outward A/c

10/03/2011

Bank A/c

3,750

Total Rs.

3,750

Total Rs.

3,750

Dr Date Particulars

06/12/2010 To Bank A/c

M/s Speed Logistics JF Amount Rs. Date Particulars 25/08/2010 By Carriage Inward A/c 2,800

Cr JF Amount Rs. 2,800

Total Rs. Dr Date Particulars

2,800 M/s Supplier's A/c JF Amount Rs. Date

Total Rs.

2,800 Cr JF Amount Rs. 47,500 80,750 75,000 85,000 288,250 Cr JF Amount Rs.

Particulars

05/04/2010 By Purchases A/c 18/07/2010 By Purchases A/c 01/11/2010 To Bank A/c 150,000 04/11/2010 By Purchases A/c 04/02/2011 By Purchases A/c 31/03/2011 To Balance c/d Total Rs. Dr Date Particulars 138,250 288,250 Octroi Charges A/c JF Amount Rs. Date 7,500 31/03/2011 By Balance c/d Total Rs. 7,500 Total Rs. Total Rs.

Particulars

05/01/2011 To Bank A/c

7,500 7,500

Dr Date Particulars

Sales A/c JF Amount Rs.

Date

Particulars

Cr JF Amount Rs.

15/05/2010 25/05/2010 26/05/2010 15/07/2010 25/07/2010 02/10/2010 06/11/2010 29/12/2010 05/02/2011 06/02/2011 31/03/2011 To Balance c/d Total Rs. Dr Date Particulars 517,000 517,000 X's Capital A/c JF Amount Rs.

By By By By By By By By By By

Cash A/c Customer One A/c Cash A/c Cash A/c M/s Repairs Garage A/c M/s Client's A/c Cash A/c Cash A/c M/s Client's A/c Cash A/c Total Rs.

2,500 75,000 11,000 12,500 55,000 170,000 25,000 55,000 97,500 13,500 517,000

Date

Particulars

Cr JF Amount Rs. 1,000,000 Total Rs. 1,000,000 Cr JF Amount Rs.

04/04/2010 By Cash A/c 31/03/2011 To Balance c/d Total Rs. Dr Date Particulars 1,000,000 1,000,000 Discount A/c JF Amount Rs. 2,000 31/03/2011 By Balance c/d Total Rs. 2,000 Trial Balance as on 31/3/2011 Sr. No. Particulars Cash A/c Purchases A/c Furniture A/c Dr Dr Dr Debit Rs. 16,500 480,250 15,000 Credit Rs. Total Rs.

Date

Particulars

01/12/2010 To M/s Client's A/c

2,000 2,000

Computer & Printer A/c r D Bank A/c Dr Salaries A/c Dr Customer One's A/c Dr Rent A/c Dr Electricity Charges A/cDr Telephone Expenses A/c Dr M/s Repairs Garage A/c r D Carriage InwardA/c Dr Carriage Outward A/c Dr Insurance A/c Dr M/s Client's A/c M/s Rush Logistics A/c M/s Speed Logistics A/c M/s Supplier's A/c Cr Octroi Charges A/c Dr Sales A/c Cr X's Capital A/c Cr Discount A/c Dr Total Rs.

30,000 793,810 132,000 75,000 21,000 10,500 8,700 55,000 2,800 3,750 1,440 0 0 0 138250 7,500 517000 1000000 2,000 1,655,250 1,655,250

Sales Less Returns Net Sales Less Cost of sales Purchases Less Returns Net Purchases Direct Trading / Manufacturing Expenses

Octroi Carriage Inward Gross Profit Less Administrative expenses Salaries Electricity charges (Office) Telephone Expenses Discount allowed Rent for office premises