Ss my CBSEguide.com pace PROJECT WORK IN ACCOUNTANCY CLASS XI In Accounting, Project Work is introduced at Xclass for 1 marks. Atthis level, the accountancy teachers require to help the students in the project inthe following ways: L. Toprovide knowledge o the students about Accounting Process. 2. Givethe imaginary transactions data 3. Show the originalsource document (Which is easily available), 4. Totrain the students for preparing vouchers. 5. Tellthe students how torecord transactions from vouchers. 6. Tomotivate students to collect various source documents, 7. To encourage students to prepare books of accounts with the help of vouchers. So, the commerce teacher will play a impertant role in preparation of project in class XI. The teacher may provide various transactions to the students. Some transactions are given belaw = ‘Ayan started business under the name AYAN & BROTHERS at NOIDA on April 1, 2011 to deal in Books and Stationary material. He introduced 5,00,000 as, capital out of which ® 1,00,000 was in cash and balance by cheque. He enclosed the original papersrelating i his business transactions forthe month of April, 2011, Students should analyse the transactions on the basis ofthese papers and process the information through: various stages of accounting cycle. Preps sion of vouchers for each financial transaction, Recording inthe journaland subsidiary books. Source Documents Transaction 1 ‘0008%¢ sooooo95b¢ onn005# 1b 199PAYABLE AT PAR 14.2001 RUPEES FOUR LAC ONLY .. DFC BANK LTD. NEW DELUI AYAN Hoo102s4 124564" 63 “110082" Pay Ayan & Brother ocr ovens OR BEA [Transaction RAM & SONS KAROL BAGH, DELHI MIS AYAN & BROTHERS, NOIDA Billno, 126 Date : 02.08.2011 So] Farticulars ‘Guantiy [Rate z 1. | Shelves 0 2500 | 30,000 2, | Chairs 5 400 | 2000 3, | Tables 4 soo | 2,000 4. | Show Case 3 10,000 | 30,000 5, | Cabinets with Glass 4 4,000 |__16,000 Gross Total 10 ‘Trade Less 5% | Discount 5,000 Net Amour 35,000 EROF Tor Ram & Sons 200CBSEguide.com ‘Transaction3 CASH MEMO Rama Stores KAROL BAGH, DELHI MISAYAN & BROTHER, NOIDA, Bill No, 626 Date 03-04-2011 ‘S.No, [Particulars © 1. | TL 7 ems. size exercise book 25 [17250 2, | Ruled Sheets (24 Sheet Packet) S| 750 3. | Drawing Sheets (24 Sheets Packet) wooo} 12 | 12000 4, | Drawing Copies (12 n0.) 200} 240 |_8,000 Net Amount 785.000 «Rupees eighty five thousand only) Received by cheque no, 186926 HFC BANK LTD. EROe. for Ram & Sons ‘Transaction 4 ‘CASHMEMO NEHRU PLACE, DELHI [M/s AYAN & BROTHER, NOIDA, [a No, 715 Date 05-04-2011 Particular ‘Quantity | Rate | © ‘Computer 2 | 27800 | 55000 Printer 1 | 12.000 | 12,000 3. | Billing machine so00 | 8,000 Net Amount 75,000 «Rupees Seventy five thousand only) Received by cheque no, 186927 DFC BANK LTD. E.& 0. F for QUICK SOLUTIONS 201Ss my CBSEguide.com ‘Transaction S Sunlight Ltd, KAROL BAGH, DELHI Mis AYAN & BROTHER, NOIDA Bill no, 836 Date 06-04-2011 No,| Part ‘Quantity | Rate] © T. | Sketch Book Too [30 | 50000 2, | Practical Sheet (24 Sheets) soo | 48 | 24000 3, | Graph Pad 300 | 25 | 12500 4. | Graph Bxercise Book soo | 25 | 12.500 5. | Long Exercise Book 288 Pages (12 Pes.) 250 | 600 | 1,50,000 6 Note Pad 115180 mm Size (12 Pes.) uo } 100 | _11,000 Gross Total 360,000, Trade Less 10% Discount 26000 Net Amount 3,000 ‘Rupees wo ae tiey Tour ‘thousand only) E.£0.c for Sunlight Led ‘Transaction 6 CASH MEMO, Mis AVAN & BROTHER, NOIDA Mls Vikas Ltd. Bill No. E Date 7-04-2011 Particulars ‘uamtity | Rate [© T. | Long Exercise Book 358 Page (2 Pes} av | oso | 24700 2, | Graph Pad 6 | 50 300. Gross Total 25000 Cash Discount 500 ‘Net Amount 24500 (Rupees Twenty Four Thousand Five “Hundred only) Received by cheque no, 36953 AXIS BANK LTD. E&OE, Tor MIS AVAN & BROTHER 202Transaction 7 A CASH MEMO M/s Sohan Furniture Ltd. Kirti Nayar, DELHI Mis AYAN & BROTHER, NOIDA Bill No, 236 Date 08-04-2011 No | Particulars antity] Rate | & T. | Wooden Screens 3 | 1000 [3000 Net Amount 5,000 (Rupees Five Thousand only) Received Cash AXIS BANK LTD. EROE ‘urniure Lt ‘Transaction 8 ‘CASH MEMO MisAdvertise Ltd, Shastri Nagar, DEL M/s AYAN & BROTHER, NOIDA Bill No. 25 Date 10-04-2011 S.No, | Particulars ‘Ouantity| Rate [@ T | Neon Sign Board T 2500 |2300, Net Amoust 2500 (Rupees Two Thousand Five Hundred only) Received Cash EOE, for Sua Advertise Ltd Transaction MAYAN & BROTHER, NOIDA Mis Ramesh Trading Co. lav. No.1 Date 12-04-2011 No, | Fartieuiars ‘Guantity| Rate e T,_ | Long Exercise Book 255 Pages (12 Pes.) 22 | oso | 137,800 2 | Graph Pad 494 | 50. 24,700 3, | Note Pad 115180 mm Size (2 Pes} 84 | 125 10,500 203 CBSEguide.com4. | Graph Exercise Book 300] 40 | 20000 5, | Sketch Book 950} 6 | 57.000 Gross Total 2,30,000 ‘Trade Less 2% Discount 5,000 Net Amount 75,000, (Rupees Two Lae Forty Five ‘Thousand Only) EROE, Tor MS AYAN & BROTHER ‘Transaction 10 Ram & Sons Kerol Bagh, Delhi No. 256 Receipt (Original) Date 12-04-2011 Received with thanks from M/S Ayan & Brothers, Noida a sum of Rupees fifty thousand only as part payment of Bll no, 126, dated April 2, 2011 through cheque no. 186928 on HDFC BANK LTD. DELHL 50,000 for Ramm & Sons ‘Transaction 11 Mis Vikas Ltd. Inv.No,_2. Date 12404-2011 No Particulars Rate [© T. [Sketch Book Too | 87-185 Pages (12 Fes) 2. | Practical Sheet (24 sheets) ss | 60] 5100 3. | Notepad 1154180 mm Size 12 Pes.) 6 125 3,250 4 Graph Exercise Book 499 40] 19,960 5. | Sheteh Book a9 | 60| 2940 Gross Total 30.000 Trade Less 10% Discount = 5.000 Net Amount 5,000 (Rupees Forty Five “Thousand Oni) TEOE Tor Mis AVAN & BROTHERS 204 Feuide.comA Transaction 12 Mis Ayan & Brothers, NOIDA No. 256 Receipt (Griginal) Date 14-04-2011 Received with thanks from Mis Rumesh Trading Co. sum af Ruees one lav fifty thousand only as part payment of Invoice on. 1, dated April 12, 2011 through cheque| No. 486958 on ICICI BANK LTD, DELHI 150,000 FORAYAN & BROTHERS Transaction 13, Sunlight Ltd, KAROL BAGH, DELHI {/s AYAN & BROTHER, NOIDA Bill no. 671 Date 14-04-2011 No. Parti Quantity] Rate T Sketch Book 00 30 2. Practical Sheet (24 Sheets) 00 30 3. Graph Pad 0 8 4 Graph Exercise Book 00 38 Net Amount (Rupees Fifteen ‘Thousand Only) EROE. Tor Sunlight Led. Transaction 14 Carriage paid for unloading of goods 8 S00 cash, Transaction 15 ‘CASH MEMO Shyam Trading Co. Gole market, DELHI Mis AYAN & BROTHER, NOIDA Bill No. 35 Date 15-04-2011 ‘S.No, Particulars ‘Quantity Rate [| € 1 Long Exereise Book 500 | 5.000, 288 Page (12 Pes.) ‘Net Amount 000 (Rupees Twenty Five Thousand Only) Received - vide cheque No. 186829, HIDFC BANK LTD. EEO: Tor Shyam Trading Co 205 CBSEguide.com‘Transaction 16 BILL OF EXCHANGE NOIDA Samp Date 19-04-2011 (One month after date pay Mis Ayan & Brothers or order the sum of Rupees twenty thousand only, value received. 720,000 for AYAN & BROTHERS AYAN To, Mis Vikas Lt. Transaction 17 Me. Ayan withdrew & 3,000 from Bank Accoust for personal use vide cheque No. 186930, on 20* April 2011 ‘Transaction 18 25,000 Wages paid t0 worker ve cheque No. 186931 on 20° April 2011 ‘Transaction 19 PROMISSORY NOTE NOIDA 10,000 Date: 21/04/2011 ‘Two months aller date, I'We promise to pay Mls Sualight Lid. Or order sum of| Rupees Ten Thousand only for the value received. forAYAN & BROTHERS AYAN ‘Transaction 20 ‘Payment made for purchasing Printing and Stationary Material vide cheque no. 186932, HDEC BANK LTD, 254 Apil, 2011 ‘Transaction 21 Salary of % 15,000 paid for the month of April, 2011 by cheque No. 186935. Event as on 30° April, 2011 Inventory was counted and valued 1,08,950. 206VOUCHERS In the Books of Ayaan & Brothers VOUCHERS for Transaction 1 A AVAN & BROTHERS NOIDA, DATE :01/0472011 VOUCHER No. 01 x [Credit Capitel A’e 700.000 ‘Being capital intoduced through cheque) 4,90,000, Sa Sa Manager ‘Accountant AYAN & BROTHERS NOIDA DATE: 01/04/2011 VOUCHER No, 02 x Credit Capital Arc 7,00,000 {Being business started with cash) 7,00,000 Sa Se Manager Accountant VOUCHERS for Transaction 2 “AYAN & BROTHERS NOIDA DATE : 02/04/2011 VOUCHER No. 01 IDebit: Furniture & Fixtures Ae (credit: Ram & Sons {Being furniture purchased from Ram & Sons Vide Bill No. 126) Sal Manager Accountant 207VOUCHER for Transaction3 A “AYAN & BROTHERS Noma DATE: 05/04201 VOUCHER No. 01 g Debit: Purchases Ave 35,000 (Being goods purchases vide cash Memo no, 626) 35,000 Sa om Manager Accountant Received € 85,000 vide cheque No. 186926 Samp Receiver Signature VOUCHER for Transaction 4 "AVAN & BROTHERS NOIDA VOUCHER No, 02 DATE : 05/04/2011 £ Debit: Office Equipment Ale 75,000 (Being office equipment purchases vide cash Memo no. 715) 75.000, ST Si Manager Accountant Received € 75,000 vide cheque No. 186027 ‘Samp Receiver Signature VOUCHER for Transaction 5 "AYAN & BROTHERS Nowa DATE : 06/04/2011 VOUCHER No, 02 © Debit: Purchases ATe E34 000. 2,34,000 Credit? — Sunitght De 334,000 (Being goods purchased from sunlight Ltd, Vide Bill No, No. 565). 2,34,000 Sa SE Manager Accountant 208VOUCHER for Transaction 6 A AYAN & BROTHERS NOIDA DATE :07/04/2011 VOUCHER No. 03 Ag ‘Sales Credit: Ale 24,500 (Being goods sold to Vikas Lid Vide cash memo No. DL 2500 we SE Manager Accountant VOUCHER for Transaction6 "AYAN & BROTHERS NOIDA DATE : 07/04/2011 VOUCHER No. 03 x 300 Debit: Discount Allowed Afe 500 Credit Sales Ave 500 (Being discount allowed on sales ‘wide cash memo No. 01) 500 Si SE Manager Accountant VOUCHER for Transaction 7 AYAN & BROTHERS NOIDA DATE : 08/04/2011 VOUCHER No. 03 z Debit : Furniture & Fixtures Ale 5000 \(Being purchases vide cash memo No. 256) 53000 3 3E Manager Accountant Received Rs 5,000 (Rupees Five Thousand only) Samp Receiver Signature 209 CBSEguide.comVOUCHER for Transaction 8 A AYAN & BROTHERS NOIDA DATE: 10/04/2011 VOUCHER No. 04 x Debit: Advertisement Expenses Ale 2500) ‘Being amount paid for neon signboad Vide Cash memo No. 25) 2500 sar. Se Manager Accountant Received Rs. 2,500 (Rupees two Thousand five hundred only) Stamp) Receiver Signature VOUCHER for Transaction 9 AVAN & BROTHERS NOIDA DATE : 12/04/2011 YOUCHER No. 04 z 2,45,000 Debit: Ramesh Trading Co. 2,415,000 Credit: Sales Ale 245.000 (Being goods sald vide invoice No. 01) 2,45,000 Sa a Manager Accountant 210 CBSEguide.comVOUCHER for Transaction 10 A AYAN & BROTHERS NOIDA DATE : 12/04/2011 VOUCHER No. 04 zt Debit: Ram & Sons 0,000 (Being part payment made against bill No. 26 dated 02/04/2011) 50,000 Sar Be Manager Accountant Received Rs. 50,000 vide cheque no, Stamp R ceiver Signature VOUCHER for‘Transaction 11 “AYAN © BROTHERS Noma DATE : 12/04/2011 VOUCHER No. 05 x Mo ‘Vikas Lid Debit. 45.000 Credit: Sales Ale 45,000 (Being goods sold vide invoice No. 02) 45,000 Sa Be Manager Accountant VOUCHER for'Transaction 12 ‘AYAN & BROTHERS NOIDA DATE: 14/04/2011 VOUCHER No. 04 z Credit Ramesh Trading Co. 1,50,000 ‘(Being cheque received pant payments against invoice No. 01) 1,50,000 Sar $e Manager Accountant an CBSEguide.comVOUCHER for Transaction 13 AYAN & BROTHERS Nowa DATE : 14/08/2011 VOUCHER No. 04 z 30 —| Debit: Purchase Aic T3000 Credit? — Sunlight Ave 13,000 (eng goods purchase videbill No. 671) 15,000 3a 3i Manager Aceountont VOUCHER for Transaction 14 “AYAN © BROTHERS Nowa DATE : 15/08/2011 VOUCHER No. 05 x Carriage Inward Ale Debit 500 (cing amount paid for carriage iaward vide cash memo No.75) 500, 3a Sé Manager Accountant Recatved RS SOU (Rapes Tve HART ony) Stamp Receiver Signature VOUCHER for Transaction 15 ‘AYAN & BROTHERS NOIDA DATE : 15/04/2011 YOUCHER No. 06 x Debit: Purchases Ave 25,000 {Being goods purchase vide cash mema No.175) 25,000 SH SE Manager Accountant Received Rs. 25,000 vide cheque No. 186929 Stamp) Receiver Signature= VOUCHER for Transaction 16 ‘AYAN & BROTHERS NoIpa DATE : 19/04/2011 VOUCHER No. 07 x 20,000 Bills Receivable Ale Debit 20,000 Vikas Lid Credit: 20,000 (Being bills receivable aguinst invoice No. 02 for part payment) 20,000 3 3 [Manager Accountant Received Rs, 25,000 vide cheque no, 186929 Stamp Receiver Signature YOUCHER for Transaction 17 "AYAN & BROTHERS NOIDA DATE : 19/04/2011 | VOUCHER No. 07 z Drawings Ae Debit: 3,000 (Being Amount withdrewa from bank vide cheque No. 186930 3,000 sa se Manager Accountant Received Rs, 3,000 vide cheque No. 186930 Stamp Receiver Signature 213 myCBSEguide.com= VOUCHER for Transaction 18 AYAN & BROTHERS NOIDA DATE ; 20/04/2011 VOUCHER No. 08 z Debit: Wages Ale 25,000 (Being Wages paid vide wages sheet No. 01) Vide Cheque no. 186931) 25,000 Sir BE Manager Accountant Received Rs, 25,000 vide cheque No. 186931 Receiver Signature 24 VOUCHER for Transaction 19 AYAN & BROTHERS NoIDA DATE : 21/04/2011 VOUCHER No. 08 t Debit Sunlight TH 000 Credit Bills Payable Ale 10,000 >a] (Being promissery note issued, two months after date) 10,000 Sr BE Manager Accountant Received Rs. 3,000 vide cheque No. 186930 Sump) Receiver Signature myCBSEguide.comVOUCHER for Transaction 20 ‘AYAN & BROTHERS NOIDA, DATE : 25/04/2011 VOUCHER No. 09 z Trade Expenses Ale 7,000 Debit: (Being trade exp. paid vide cheque No. 186932) (Cheque No. 186931) 2,000 w St Manager Accountant [Received RS. 2,000 wide cheque No. 186032 Samp Receiver Signature ‘VOUCHER for Transaction21 ‘AYAN & BROTHERS NOIDA, DATE : 30/04/2011 | VOUCHER No. 10 z Debit: Salary Ale 15,000) (Being salary paid vide salary sheet No. 01) 15,000 3 3 Manager Accountant Received Rs, 15,000 vide cheque No. 186935 Samp Receiver Signature Memorandum for event of on 30th Api! 2011 AYAN & BROTHERS Memorandum Enclosed isa list of unsold good in stock om April, 30,2011, the 1,08,9001- only Dated : 30 Apr 2011 Signature of valuer