Accounts Project

Name: Rupesh Bharti

class: 11
subject: Accounts
 QUESTION:
Mr. Sharma was interested in making biriyani and so he thought
of starting a business of a biriyani shop by selling his biriyanis. he
had ₹1,00,000 with him from his savings. Later he added more
₹1,00,000 to his savings and then opened the shop with
₹2,00,000 as the capital, on 1st April, 2020 naming the shop
Sharma’s biriyani. he made a list of transactions of the goods
bought or sold and this was recorded at the end of the month:
Date Transactions ₹
April 1 Commenced business with cash 2,00,000
April 1 Paid for advertisements 5,500
April 1 Purchased furniture for cash 20,000
April 1 Purchased Oven for cash 10,000
April 2 Purchased a computer for cash 15,000
April 2 Purchased goods for cash 9,000
April 4 Sold goods for cash 7,000
April 8 Bought Rice and ingredients 4,000
April 13 Sold goods to Poonam on credit 6,000
April 15 Withdrew cash from bank for personal use 8,000
April 20 Bought goods from Aarti on credit 9,000
April 24 Received cash from Poonam 4,500
April 27 Paid for telephone charges by cheque 2,000
April 28 Paid light bill by cheque 6,000
April 28 Paid salary by cash 5,000
April 29 Paid back cash to Aarti 9,000
April 30 Biriyani sold for cash 10,000
 SOLUTION:
In the books of Mr. Sharma
Journal
Date Particulars L/F Amount Dr. Amount Cr.
(₹) (₹)
2020
April 1 Cash A/c …. Dr. 2,00,000
To Capital A/c 2,00,000
(Being business commenced with cash)

April 1 Advertisement A/c …. Dr. 5,500

To Cash A/c 5,500
(Being cash paid for advertisements)

April 1 Furniture A/c …. Dr. 20,000

To Cash A/c 20,000
(Being furniture purchased for cash)

April 1 Oven A/c …. Dr. 10,000

To Cash A/c 10,000
(Being oven purchased for cash)

April 2 Computer A/c …. Dr. 15,000

To Cash A/c 15,000
(Being a computer purchased for cash)

April 2 Purchases A/c …. Dr. 9,000

To Cash A/c 9,000
(Being goods bought for cash)

April 4 Cash A/c …. Dr. 7,000

To Sales A/c 7,000
(Being goods sold for cash)

April 8 Purchases A/c …. Dr. 4,000

To Cash A/c 4,000
(Being Rice and Ingrdients bought for cash)

April 13 Poonam A/c …. Dr. 6,000

To Sales A/c 6,000
(Being goods sold to Poonam on credit)
April 15 Cash A/c …. Dr. 8,000
To Bank A/c 8,000
(Being cash withdrawn from bank for personal
use)

April 20 Purchases A/c …. Dr. 9,000

To Aarti A/c 9,000
(Being goods bought from Aarti on credit)

April 24 Cash A/c …. Dr. 6,000

To Poonam A/c 6,000
(Being cash received from Poonam)

April 27 Telephone charges A/c …. Dr. 2,000

To Bank A/c 2,000
(Being telephone charges paid by cheque)

April 28 Electricity Expenses A/c …. Dr. 6,000

To Bank A/c 6,000
(Being light bill paid by cheque)

April 28 Salary A/c …. Dr. 5,500

To Cash A/c 5,500
(Being salary paid by cash)

April 29 Aarti A/c …. Dr. 9,000

To Cash A/c 9,000
(Being cash paid back to Aarti)

April 30 Cash A/c …. Dr. 10,000

To Sales A/c 10,000
(Being cakes sold for cash)
Total :- 3,32,000 3,32,000
 Ledger
Cash A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 1 To Capital A/c 2,00,000 April 1 By Advertisement A/c 5,500
April 4 To Sales A/c 7,000 April 1 By Furniture A/c 20,000
April 15 To Bank A/c 8,000 April 1 By Oven A/c 10,000
April 24 To Poonam A/c 6,000 April 2 By Computer A/c 15,000
April 30 To Sales A/c 10,000 April 2 By Purchases 9,000
April 8 By Purchases 4,000
April 28 By Salary 5,500
April 29 By Aarti 9,000
April 30 By Balance c/d 1,53,000
2,31,000 2,31,000
May 1 To Balance b/d 1,53,000

Bank A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 30 To Balance c/d 16,000 April 15 By Cash A/c 8,000
April 27 By Telephone charges
A/c 2,000
April 28 By Electricity expenses
A/c 6,000
16,000 16,000
May 1 By Balance b/d 16,000
 Capital A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 30 To Balance c/d 2,00,000 April 1 By Cash A/c 2,00,000
2,00,000 2,00,000
May 1 By Balance b/d 2,00,000

Purchases A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 2 To Cash A/c 9,000 April 30 By Balance c/d 22,000
April 8 To Cash A/c 4,000
April 20 To Aarti A/c 9,000
22,000 22,000
May 1 To Balance b/d 22,000

Advertisements A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 1 To Cash A/c 5,500 April 30 By Balance c/d 5,500
5,500 5,500
May 1 To Balance b/d 5,500
 Furniture A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 1 To Cash A/c 20,000 April 30 By Balance c/d 20,000
20,000 20,000
May 1 To Balance b/d 20,000

Oven A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 1 To Cash A/c 10,000 April 30 By Balance c/d 10,000
10,000 10,000
May 1 To Balance b/d 10,000

Computer A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 2 To Cash A/c 15,000 April 30 By Balance c/d 15,000
15,000 15,000
May 1 To Balance b/d 15,000
 Sales A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 30 To Balance c/d 23,000 April 4 By Cash A/c 7,000
April 13 By Poonam A/c 6,000
April 30 By Cash A/c 10,000
23,000 23,000
May 1 By Balance b/d 23,000

Poonam A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 13 To Sales A/c 6,000 April 24 By Cash A/c 6,000
6,000 6,000

Aarti A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 29 To Cash A/c 9,000 April 20 By Purchases A/c 9,000
9,000 9,000
 Telephone charges A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 27 To Bank A/c 2,000 April 30 By Balance c/d 2,000
2,000 2,000
May 1 To Balance b/d 2,000

Electricity expenses A/c

Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 28 To Bank A/c 6,000 April 30 By Balance c/d 6,000
6,000 6,000
May 1 To Balance b/d 6,000

Salary A/c
Dr. Cr.
Date Particulars J/ Amount Date Particulars J/ Amount
F (₹) F (₹)
April 28 To Cash A/c 5,500 April 30 By Balance c/d 5,500
5,500 5,500
May 1 To Balance b/d 5,500
 Trial Balance
as at 30th April, 2020
Particulars L/F Balance Dr. Balance Cr.
₹ ₹
Cash A/c 1,53,000
Bank A/c 16,000
Capital A/c 2,00,000
Purchases A/c 22,000
Advertisements A/c 5,500
Furniture A/c 20,000
Oven A/c 10,000
Computer A/c 15,000
Sales A/c 23,000
Telephone charges A/c 2,000
Electricity Expenses A/c 6,000
Salary A/c 5,500
Total:- 2,39,000 2,39,000

Trading Account
for the month ended 30th April, 2020
Dr. Cr.
Particulars Amount Particulars Amount
(₹) (₹)
To Purchases 22,000 By Sales 23,000
To Profit and Loss A/c 1,000
- Gross profit transferred
(balancing figure)
23,000 23,000
 Profit and Loss Account
for the month ended 30th April, 2020
Dr. Cr.
Particulars Amount Particulars Amount
(₹) (₹)
To Advertisements 5,500 By Trading A/c 1,000
To Telephone Charges 2,000 - Gross Profit transferred
To Electricity Charges 6,000 By Capital A/c 18,000
To Salary 5,500 - net loss transferred
(balancing figure)
19,000 19,000

Balance Sheet
as on 30th April, 2020
Dr. Cr.
Liabilities Amount Assets Amount
(₹) (₹)
Capital 2,00,000 Current Assets:
Less: Net loss 18,000 Cash in Hand 1,53,000
1,82,000 Fixed Assets:
Bank 16,000 Furniture 20,000
Oven 10,000
Computer 15,000
1,98,000 1,98,000
CONCLUSION:
Thus, with the above accounts and final accounts prepared, we
can conclude that:-
1. Mrs. Sharma’s business is in a loss, he will need to sell more
and more cakes.
2. he will need to advertise her products more.
3. With the cash in his hand he can raise the capital of the firm or
he can maximize his profits.
4. Though it has been only a month for his business, he has to
cope up with the process of getting more orders.