Group 12 Section B

Members
Akshit Rustagi
Ankit Nath
Ashwin Kumar
Siddik Anshad A
Surbhi Gopalani
 TRANSACTIONS OF GREYWOOD FURNITURES LTD FOR THE MONTH OF MARCH 2009

Date Sl No

01/Mar/09 101

02/Mar/09 102

03/Mar/09 103

03/Mar/09 104

04/Mar/09 105

04/Mar/09 106

05/Mar/09 107

06/Mar/09 108

07/Mar/09 109

08/Mar/09 110

09/Mar/09 111

10/Mar/09 112

11/Mar/09 113

12/Mar/09 114

12/Mar/09 115

13/Mar/09 116

14/Mar/09 117

15/Mar/09 118

16/Mar/09 119

17/Mar/09 120
17/Mar/09 121

18/Mar/09 122

18/Mar/09 123

19/Mar/09 124

20/Mar/09 125

20/Mar/09 126

21/Mar/09 127

22/Mar/09 128

23/Mar/09 129

23/Mar/09 130

24/Mar/09 131

25/Mar/09 132

26/Mar/09 133

27/Mar/09 134

27/Mar/09 135

28/Mar/09 136

29/Mar/09 137

30/Mar/09 138

30/Mar/09 139

30/Mar/09 140

31/Mar/09 141

31/Mar/09 142
31/Mar/09 143

31/Mar/09 144
CTIONS OF GREYWOOD FURNITURES LTD FOR THE MONTH OF MARCH 2009

Details of the Transaction

Mr Joseph started a furniture business Greywood Furnitures Ltd in Coimbatore. He
invested Rs 5000000 capital into the business

Cash of Rs 3000000 was deposited into the bank account

Wooden Chairs(Goods) worth Rs 800000 was purchased at a trade discount of 25%

Mr Stalin, Joseph's friend bought shares of the company worth Rs 200000 with his
cash savings.

Plastic Furnitures making Machines worth Rs 550000 was purchased.

Additional expenditure of Rs 50000 was incurred towards installation

CCTV worth Rs 50000 installed - Purchased through Bank Cheque

There was a sale of Wooden Chairs worth Rs 700000

Goods transport expense Rs 18000 paid in cash

Purchased stationaries worth Rs 35000 for office use payment due in one month

Received Rs 40000 in cash as an advance from a customer for a future furnishing

service to be provided.
Wooden Cots (Goods) worth Rs 1000000 was purchased from Kailash Furnitures
Ltd. Payment not made
Provided a home furnishing service (service only) of Rs 55000. Payment not
received yet

Paid Rs 3000 towards water supply bill

Sold Wooden Cots for Rs 1200000 at for Nayak Enterprises- in credit

Invested Rs 200000 on a friends business through cheque (For Interest)

Distributed Rs 1000 cash in dividend to Mr Stalin

Paid Rs 400000 to Kailash Furnitures Ltd. through cheque (112)

Purchased a Office Table and Chair(Furniture) for OFFICE USE Rs 150000

Received Rs 28000 as service charge for furniture installation at a customers home

Mr Joseph withdrew Rs 40000 cash for personal use

Fully paid cash for the stationaries purchased on 8th March (110)

Received cheque worth Rs 800000 from Nayak Enterprises, Deposited the cheque
in bank on the same day.(115)

Purchased Wooden Cots for Rs800000 from Kailash Furnitures Ltd. for credit

Paid Salary for the permanent drivers Rs 36000 in cash

Goods sold for Rs 500000 in cash

Another lot of goods was sold to Nayak Enterprises for Rs 800000 on credit

Cash Rs 100000 was withdrawn from the bank account for office use

Received full settlement of cash against the sale made on 11 Mar 2009 (113)

Made the payment of Rs 120000 for the advertising agency by cheque

Made a payment of Rs 20000 by cheque towards insurance premiun

Rs 200000 cash received from Nayak Enterprises

Paid Rs 150000 to Kailash Furnitures Ltd

Provided an installation service (service only) worth Rs 12000 to a customer for

which the payment wasn't received

Received a Commission of Rs 20000

Paid wages - Rs 15000

Joseph withdrew Rs 40000 cash for personal use

Salary of Rs 25000 for the Office Staff was paid

Paid the Rent by cheque - Rs 16000

Purchases office supplies for Rs 5000. Payment due in 2 months

Charged Depriciation on Machinery Rs 5000

Charged Depriciation on CCTV - Rs 2500

Bank charged Rs 5000 towards bank account handling charges

Received interest of Rs 4000 on investment (116)

Traansaction
Account Type Dr. Cr.
No.
101 Cash 5000000
101 Capital 5000000
102 Bank 3000000
102 Cash 3000000
103 Inventory 600000
103 Cash 600000
104 Cash 200000
104 Equity Share Capital 200000
105 Machinery 550000
105 Cash 550000
106 Machinery 50000
106 Cash 50000
107 CCTV 50000
107 Bank 50000
108 Cash 700000
108 Inventory 700000
108 Revenue 700000
108 COGS 700000
109 Transport Expense 18000
109 Cash 18000
110 Stationaries 35000
110 Accounts Payable 35000
111 Cash 40000
111 Unearned Revenue 40000
112 Inventory 1000000
112 Accounts Payable 1000000
113 Accounts Receivable 55000
113 Revenue 55000
114 Water Bill Expense 3000
114 Cash 3000
115 Accounts Receivable 1200000
115 Inventory 1200000
115 Revenue 1200000
115 COGS 1200000
116 Investment 200000
116 Bank 200000
117 Dividends 1000
117 Cash 1000
118 Accounts Payable 400000
118 Bank 400000
119 Office Furniture 150000
119 Bank 150000
120 Cash 28000
120 Revenue 28000
121 Drawing 40000
121 Cash 40000
122 Accounts Payable 35000
122 Cash 35000
123 Bank 800000
123 Accounts Receivable 800000
124 Inventory 800000
124 Accounts Payable 800000
125 Salaries 36000
125 Cash 36000
126 Cash 500000
126 Inventory 500000
126 COGS 500000
126 Revenue 500000
127 Accounts Receivable 800000
127 Inventory 800000
127 COGS 800000
127 Revenue 800000
128 Cash 100000
128 Bank 100000
129 Cash 55000
129 Accounts Receivable 55000
130 Advt Expenses 120000
130 Bank 120000
131 Prepaid Expenses 20000
131 Bank 20000
132 Cash 200000
132 Accounts Receivable 200000
133 Accounts Payable 150000
133 Cash 150000
134 Accounts Receivable 12000
134 Revenue 12000
135 Cash 20000
135 Comission Received 20000
136 Wages 15000
136 Cash 15000
137 Drawing 40000
137 Cash 40000
138 Salaries 25000
138 Bank 25000
139 Rent 16000
139 Bank 16000
140 Office Supplies 5000
140 Accounts Payable 5000
141 Depriciation 5000
141 Machinery 5000
142 Depriciation 2500
142 CCTV 2500
143 Bank Charges Expense 5000
143 Bank 5000
144 Cash 4000
144 Interest Received 4000
20285500 20285500
 Remarks

Capital Investment

Cash deposited in Bank

Purchases made for cash

Investment made by friend for shares

Purchased Machinery

Machinery Installation Expenses

Purchase and Installation of CCTV

Sales worth700000 was made

Incurred a transport expense paid in

cash
Purchased stationaries for office
works
Received advance payment for future
service

Purchase made on credit

Rendered service payment not

received

Paid Water Bills in Cash

Sales worth 2000000 at a discount of

40% for credit

Investment made through cheque

Dividend paid to the shareholder

Paid the supplier partially(112)

Purchased furniture for office us, not

for resale
Received payment for service. No cost
incurred.
Owner withdrew cash for personal
use
 Owner withdrew cash for personal
use
Settled the payment for stationaries
purchase(110)
Received payment from the customer
(115) partial settlement

Purchase made on credit

Salaries paid in cash

Sales for Cash

Sales on credit

Cash withdrawn from bank

Received full settlement from

customer (113)

Expense on advt paid through cheque

Insurance expense paid through

cheque

Cash received from customer(127)

Paid partially to supplier (124)

Senvice rendered on credit (no cost)

Received cash comission

Paid wages in cash

Owner withdrew cash for personal

use

Paid salaries through cheque

Paid rent through cheque

Purchased office supplies on credit

Depriciation on Machinery

Depriciation on CCTV
Bank Charges deducted by the bank
from the Bank Account

Interest received for investment (116)

 Data Type
Account Type Sum - Dr. Sum - Cr. C
Accounts Payable 585000 1840000 R
Accounts Receivable 2067000 1055000 C-RE
Advt Expenses 120000 R
Bank 5000 R
Bank 3800000 1081000 C-RE
Bank Charges Expense 5000 C
Capital 5000000 R
Cash 6847000 4538000 R
CCTV 50000 2500 C-RE
COGS 3200000 R
Comission Received 20000 C-RE
Depriciation 7500 C-RE
Dividends 1000 C
Drawing 80000 C
Equity Share Capital 200000 R
Interest Received 4000 R
Inventory 2400000 3200000 R
Investment 200000 R
Machinery 600000 5000 R
Office Furniture 150000 R
Office Supplies 5000 R
Prepaid Expenses 20000 C-RE
Rent 16000 C-RE
Revenue 3295000 C-RE
Salaries 61000 R
Stationaries 35000 C-RE
Transport Expense 18000 C
Unearned Revenue 40000 C-RE
Wages 15000 C-RE
Water Bill Expense 3000
Total Result 20285500 20285500
Advt Expenses 120000 C-RE
Bank Charges Expense 5000 C-RE
COGS 3200000 C-RE
Depriciation 7500 C-RE
Dividends 1000 C-RE
Rent 16000 C-RE
Revenue 3295000 C-RE
Salaries 61000 C-RE
Transport Expense 18000 C-RE
Wages 15000 C-RE
Water Bill Expense 3000 C-RE
Retained Earnings 3446500 3295000
 BALANCE SHEET OF GREYWOOD FURNITURES LTD FOR THE YEAR ENDING 31/03/2009
RESOURCES CLAIMS + OWNERS EQUITY
Account Dr Cr Type Account Dr
Accounts Receivable 2067000 1055000 R Accounts Payable 585000
Bank 5000 R Capital
Bank 3800000 1081000 R Drawing 80000
Cash 6847000 4538000 R Equity Share Capital
CCTV 50000 2500 R Unearned Revenue
Comission Received 20000 R Retained Earnings 3446500
Interest Received 4000 R
Inventory 2400000 3200000 R
Investment 200000 R
Machinery 600000 5000 R
Office Furniture 150000 R
Office Supplies 5000 R
Prepaid Expenses 20000 R
Stationaries 35000 R
16174000 9910500 4111500
6263500 6263500
1/03/2009
+ OWNERS EQUITY
Cr Type
1840000 C
5000000 C
C
200000 C
40000 C
3295000 C

10375000
6263500
 INCOME STATEMENT FOR THE MONTH ENDING 31st March 2009
PARTICULARS AMOUNT
REVENUES 895000
Sales + Service Revenue 3295000
(-) Cost of Revenue 2400000

EXPENSES 285500
Advt Expenses 120000
Bank Charges Expense 5000
Depriciation 7500
Office Supplies 5000
Salaries 61000
Stationaries 35000
Rent 16000
Transport Expense 18000
Wages 15000
Water Bill Expense 3000

GAINS 24000
Comission 20000
Interest Received 4000

Profit for the Year 633500