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Operational Work Out On Journal and Ledger Posting Of KIRAN Textiles, Guntur

Submitted By
Ch. Sairam (7NBGU047)
G. Srinivasa Rao (7NBGU068)

Under the Guidance of Mr: P. Guru Prasad Faculty Member INC- Guntur

ICFAI NATIONAL COLLEGE Near lodge center, Guntur

COLLECTED DATA TRANSACTIONS IN THE BOKS OF KIRANTEXTILES DATE Aug-01 Aug-02 Aug-03 Aug-04 Aug-05 Aug-06 Aug-07 Aug-10 Aug-19 Aug-22 Aug-25 Aug-28 Aug-29 Aug-30 TRANSATIONS Cash in hand Purchase goods for cash Goods sold to Surya saree mandhir Goods sold to Mayuri dresses Purchase goods from Mohan lal Goods returns to Mohan lal Sales returns by Surya saree mandhir Salaries paid to staff Transport charges paid Advertisement charges paid Electricity bill paid Telephone bill paid Rent paid Traveling expenses paid AMOUNT 3,22,000 70,000 30,000 20,000 50,000 10,000 5,000 1,50,000 5,000 20,000 10,000 1,250 2,000 1,200

ANLYSIS OF DATA JOURNAL ENTRIES IN THE BOOKS OF KIRAN TEXTILES FOR THE MONTH OF AUGUST 2007 DATE
Aug-01

PERTICULARS
Cash a/c Dr To Kiran a/c (Being cash in hand) Purchase a/c Dr To cash a/c (Being purchase goods for cash) Surya saree mandhir a/c Dr To cash a/c (Being goods sold to Surya saree mandhir) Mayuri dressess a/c Dr To sales a/c (Being goods sold to Mayuri dresses) Purchase a/c Dr To Mohan lal a/c (Being purchase goods from Mohan lal)

LF DEBIT(Rs.) CREDIT(Rs) 3,22,000 3,22,000 70,000 70,000

Aug-02

Aug-03

30,000 30,000 20,000 20,000

Aug-04

50,000 50,000

Aug-05

Aug-06

Mohan lal a/c Dr To purchase returns a/c (Being goods returned to Mohan lal)

10,000 10,000

Sales returns a/c Dr Aug-07 To Surya saree mandhir a/c (Being goods return to Surya saree mandhir) Salaries a/c Dr To cash a/c (Being salaries paid to staff) Transport charges a/c Dr To cash a/c (Being Transport charges paid) Advertisement a/c Dr To cash a/c (Being advertisement charges paid) Electricity bill a/c Dr To cash a/c (Being electricity bill paid)

5,000 5000

1,50,000 1,50,000

Aug-10

5,000 5,000

Aug-19

20,000 20,000

Aug-22

10,000 10,000

Aug-25

Aug-28

Telephone charges a/c Dr To cash a/c (Being electricity bill paid)

1,250 1,250

Aug-29

Rent a/c Dr To cash a/c (Being rent paid) Traveling charges a/c Dr To cash a/c (Being traveling charges paid)

2,000 2,000 1,200 1,200

Aug-30

LEDGER
CASH ACCOUNT Dr Date Particulars Aug- To Balance b/d 01 LF Amount 3,22,000 Date Particulars Cr LF Amount 70,000 1,50,000 5,000 20,000 10,000 1,250 2,000 1,200 62,550 3,22,000

Aug-02 By purchases Aug-10 By salaries Aug-19 By Transport charges Aug-22 By Advertisement charges Aug-25 By Electricity bill Aug-28 By Telephone bill Aug-29 By Rent Aug-30 By Traveling charges Aug-31 By Balance c/d

3,22,000 Sep- To Balance b/d 01 62,550

Dr Date Aug02 Aug05

Particulars To cash To Mohan lal

PURCHASE ACCOUNT LF Amount Date Particulars 70,000 Aug- By balance c/d 31 50,000 1,20,00 0

LF

Cr Amount 1,20,000 1,20,000

Sep01

To balance b/d 1,20,00 0

Dr Date particulars Aug-31 To balance c/d

SALES ACCOUNT LF Amount Date 50,000 Aug03 particulars By Surya saree mandhir By Mayuri Dresses

Cr LF Amount 30,000 20,000 50,000

50,000 Sep01 To balance b/d

50,000

Dr Date Aug03

Particulars To Sales

Surya saree mandhir LF Amount Date 30,000 Aug07 Aug31 30,000 25,000

Account Cr Particular LF Amount By Sales 5,000 returns By balance c/d 25,000 30,000

Sep01 Dr Date Aug04

To balance b/d

Particulars To Sales

Mayuri Dresses Account LF Amount Date Particulars 20,000 Aug- By balance c/d 31 20,000

Cr LF Amount 20,000

20,000

Sep01 Dr Date Aug06 Aug31

To balance b/d

20,000 Cr Amount 50,000 50,000 50,000 Sep01 By balance b/d 40,000

Mohan Lal Account Particulars LF Amount Date Particulars To purchase Aug- By purchases returns 10,000 05 To balance c/d 40,000

LF

Dr Purchase Returns Account Date Particulars LF Amount Date Particulars Aug- To balance c/d 10,000 Aug- By Mohan Lal 31 06

Cr LF 10,000

Sep01 Dr Sales Returns Account Date Particulars LF Amount Date Particulars Aug- To Surya 5,000 Aug- By balance c/d 07 Saree Mandhir 31 Sep- To balance b/d 01 5,000 LF

10,000 Cr Amount 5,000

Dr Date Particulars Aug- To cash 10 Sep01 To blanc b/d

Salaries Account LF Amount Date Particulars 1,50,00 Aug- By 0 31 balance c/d

Cr LF Amount 1,50,000

1,50,00 0

Dr Date Particulars Aug- To cash 19

Transport Account Cr LF Amount Date Particulars LF Amount 5000 Aug- By 5000 31 balance c/d

Sep- To balance 01 b/d Dr Date Particulars Aug- To cash 22

5000 Advertisement Account Cr LF Amount Date Particulars LF Amount 20,000 Aug- By 20,000 31 balance b/d

Sep- To 01 balance b/d Dr Date Particulars Aug- To cash 25 Sep01 To balance b/d

20,000 Electricity Bill Account Cr LF Amount Date Particulars LF Amount 10,000 Aug- By 10,000 31 balance c/d

10,000

Dr Date Particulars Aug- To cash 28

Telephone Bill Account LF Amount Date Particulars 1,250 Aug- By 31 balance c/d

Cr LF Amount 1,250

Sep01

To balance b/d

1,250 Rent Account Cr LF Amount Date Particulars LF Amount 2,000 Aug- By 2,000 31 balance c/d

Dr Date Particulars Aug- To cash 30

Sep01

To balanced b/d

2,000

Dr Date Particulars Aug- To cash 30

Traveling Account Cr LF Amount Date Particulars LF Amount 1,200 Aug- By 1,200 31 balance c/d

Sep01

To balance b/d

1,200

Submitted By G.SRINIVASA RAO (7NBGU068) CH. SAIRAM (7NBGU047)

COMPANY PROFILE Mr.Kesavarao is the founder of Kiran textiles .The Accounts are maintained and kept in the right records by Mr.Chandu the accounts officer. It is sole trading concern controlled by Mr.Kesavarao .They transact with different companies at different places and deal with textile products like suiting, shirting, pant material, and kurtas, Cosmetics for Men etc. They have fifty sales persons and their salaries vary from person to person. The firm apprises employees who are hard working and sincere and dedicated .They hold an account in HDFC Bank. Kiran textiles stretches it self within an area 2132sqft. They are the dealers for the well noted brands like Grasim, Raymond’s, OCM, Bhilwada, Digjam, Park Avenue, arrow, peter England, Allen Panney, Allen solley, Lee, etc. To sustain in the market they reduced the cost of the products they are pioneers in providing quality materials

METHODOLOGY We approached Kiran textiles and introduced ourselves to the manager of Kiran textiles .They questioned us just clarify whether we belong to ICFAI National college or not. And after they came to know that we are on some project. Then he decided to give all the details about Kiran textiles. They cooperated

with us and provided all the details related to Kiran textiles.