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acCOUNTING FOR BUSINESS
acCOUNTING FOR BUSINESS
AFTERSCHO☺OL
– DEVELOPING CHANGE MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL
www.afterschoool.tk
11/28/09 AFTERSCHO☺OL's
AFTERSCHO☺OL's MATERIAL
MATERIAL 1
www.afterschoool.tk FOR PGPSE PARTICIPANTS
ACCOUNTING FOR BUSINESS
Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship
Bikaner M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk, www.afterschoool.tk
www.afterschoool.tk
11/28/09 AFTERSCHO☺OL's
AFTERSCHO☺OL's MATERIAL
MATERIAL 2
www.afterschoool.tk FOR PGPSE PARTICIPANTS
Prepare trading and P & L a/c
• The following are the details relating to transactions
during the year ended 31M March 2007 extracted
from the books of Goti who does not maintain proper
books of account:
• Cash and discount credited to debtors 6, 40,000
• Sales return• 14,500
• Bad debts 4,200
• Sales (cash and credit) 7,18,100
• Discount allowed by trade creditors 7,000
• Purchases returns 4,000
To balance 124000
• Total :
• Total : 985600
• Z a/c dr.
• To sales a/c
• Cash Ac.
• To Sales Ac
• Purchase Ac dr.
• To B account
• Depreciation a/c. dr
• To furniture a/c
• Assets :
• Bank : 77000
• Stock = 19000
• Debtors = 1000
• Cash = 2000
• Machinary = 200000
• Total= 299000
• Less : creditors : 5000
• Capital = 294000 (as on 31 march 2006)
• IInd year
• To balance 14817
• To bank 16595 • By balance 16595
• IIIrd year :
• To balance 31412 • By bank 28000
• By dep. Fund 3412