Assets

+
Capital of 2 cr is brought in as deposited into SBI Bank Bank Balance
by cheque 20,000,000

Purchased 100 computers at Rs 40,000 per computer Inventory
and paid Rs 25 lakhs to the vendor 4,000,000
Bank Balance
- 2,500,000

Rented an office at Rs 1 lakh/month and paid advance for 2 years Bank Balance
- 2,400,000
Advance rent
2,400,000

Purchased furniture for 25 lakhs and paid 5 lakhs Asset+
2,500,000
Bank Balance
- 500,000

Sold 60 computers at Rs 52,000 per computer on credit Receivables
1. Sold at selling price 3,120,000

2. Inventory at cost price Inventory
- 2,400,000

One computer got damaged and was sold off for Rs 5,000
1. Sold at selling price 5,000
2. Inventory at cost price Inventory
- 40,000
They paid the computer vendor Rs 5 lakhs by cheque Bank Balance
500,000

Staff were given loans of Rs 80,000 by cheque Bank Balance
- 80,000
Receivables
80,000

Cash withdrawn for office use Rs 2 lakhs Bank Balance
- 200,000
Cash
200,000
Conveyance paid by cash Rs 2,500 Cash Balance
- 2,500

Other Petty Cash expenses were Rs 8,500 Cash Balance
- 8,500

Cash of Rs 15,000 was stolen and lost Cash balance
- 15,000

Customer paid Rs 2 lakhs by cheque Receivables
- 200,000
Bank balance
200,000

Expense accruals for the month Rs 22 lakhs (including salaries) Bank balance
- 2,200,000
Expenses = Liab + Incomes
Equity Share Capital
20,000,000

Vendor Payable
1,500,000

vendor payable
2,000,000

3,120,000

COGS
2,400,000

5,000
COGS
40,000
vendor payable
- 500,000
2,500

8,500

15,000

2,200,000
Balance Shee
Liabilities - Sources of Funds
Equity Share Capital 20,000,000
Reserves - 1,741,000.00

Vendor Payable 3,000,000

Total 21,259,000

Expenses
COGS
Other Expenses
Petty cash expenses
Cash stolen
Accurrals
Net Profit
Total
Balance Sheet
Assets - Application of Funds
Inventories
Furnitures

Advance Rent
Bank Balance

Receivables

Total

Profit & Loss
Incomes
2,440,000 Last year Profit
202,500 Sales
8,500
15,000
2,200,000
- 1,741,000.00
3,125,000 Total
1,560,000
2,500,000

2,400,000
11,799,000

3,000,000

21,259,000

-
3,125,000

3,125,000