A C.

Asst
Fix.A Invt/Stock Cash Loan & Adv N.C.Asst
1 200000
2 500000 -100000
3 200000 -50000
4 -100000 150000
5 -50000 75000
6 150000
7 -100000 120000
D-7 500000 100000 320000 75000
995000
D-6 500000 200000 200000 75000
975000
D-5 500000 50000 200000 75000
825000
D-4 500000 100000 200000 0
800000
D-3 500000 200000 50000 0
750000
D-2 500000 0 100000 0
600000

Air Products Internal Use Only

D-1 0 0 200000 0
200000

Air Products Internal Use Only

 = L + Cap & R-S
N.C.Asst C.Lia N.C Lia Cap R&S
200000
400000
150000
50000
25000
150000
20000
300000 400000 200000 95000
995000
300000 400000 0 200000 75000
975000
150000 400000 0 200000 75000
825000
150000 400000 0 200000 50000
800000
150000 400000 0 200000 0
750000
0 400000 0 200000 0
600000

Air Products Internal Use Only

0 0 0 200000 0
200000

Air Products Internal Use Only

Transactions of Wealth Ltd. for the month of Jan’2020

Current Assets
Jan 1 Opening Balance:
Purcchas
Cash e A/c Inventories debitors
Building 500000, Machinery 300000, Stock 50000, Alpha
(invento
Ltd (Dr) 165000, Cash 200000, Bank 200000, Loan
ry)
400000, Money Ltd. (Cr)200000, Gama Ltd. (Cr) 100000
Alph
1-Jan 200000 Stk 50000
Jan 2 Goods purchased worth Rs 50000 a

Jan 5 Goods purchased worth Rs 100000 from Money Ltd.

1415000
Jan 7 Sold goods worth Rs 200000
Adj
Jan 8 Sold goods worth Rs 150000 to Beta Ltd

Jan 9 Paid Rs 200000 to Money Ltd towards the 1415000

settlement of liability at the beginning of month
goo
2-Jan -50000 50000 ds
Jan 10 Paid Insurance Premium Rs 50000 by cheque
Adj Goods purchase = 2 parties are involved, 1 is purchase acco
Jan 11 Paid Rent Rs 180000 by cheque
Jan 13 Received Rs 165000 from Alpha Ltd, due on them 5-Jan ` 100000 goo
on Jan 1 ds
7-Jan 200000
-
Jan 14 Paid Rs 98000 to Money Ltd. by cheque in full Beta
8-Jan ` ltd
settlement of dues to them [by CASH]
9-Jan -200000
Jan 15 Deposited Rs 50000 in bank
Jan 16 Received Rs 147500 from beta Ltd by cheque in 10-Jan
full settlement of their dues. Cheque deposited in bank.
11-Jan
Jan 18 Paid for stationary Rs 10000
Alph
13-Jan 165000
Jan 20 Cheque received from Beta Ltd was dishonoured a
Jan 22 Sold old Machinery worth Rs 10000 for Rs 12000 in 14-Jan -98000
cash
15-Jan -50000
Jan 25 Purchased furniture worth Rs 100000 from B Ltd
Beta
16-Jan ltd
Jan 28 Depreciation on Building Rs 10000
18-Jan -10000
Jan 30 Paid Salary Rs 100000
Beta
20-Jan
Jan 31 Paid Rent Rs 50000 ltd
22-Jan 12000

25-Jan
28-Jan

30-Jan -100000

-50000
31-Jan

Purcchas
e A/c
Cash Inventories debitors
(Expense
)

Beta
19000 150000 Stk 50000
ltd

Inventories = stock =
Purchase

Current Assets

389000
 Assets = Liabilities

Non Current
nt Assets + + Expense Current Liabilities
Assets

debitors bank Plant & Salaries Depreciati Insurance Rent Creditors

Machinery Expense on Premium Paid

Mone
165000 200000 Bldg 500000
y Ltd
Gam
Mac 300000
ma ltd
700000

1415000

are involved, 1 is purchase account which is expense and another one is inventory.
Mone
y Ltd

150000
Mone
y Ltd
-50000 50000

-180000 180000

-165000
Mone
y Ltd
50000

-150000 147500
statio 10000
nary
150000 -147500

Mac -10000
Beta
fur 100000
ltd
 Bldg -10000 10000

100000

50000

Plant & Salaries Depreciati Insurance Rent

debitors bank + + = Creditors
Machinery Expense on Premium Paid

150000 20000 890000 100000 10000 50000 230000 200000

Mac 290000 Mone

y Ltd

fur 100000 Beta

ltd
statio Gam
nary 10000 ma ltd
Bldg 490000

Non Current
nt Assets + + Expense = Current Liabilities
Assets

9000 + 890000 + 390000 = 200000

1669000
 Liabilities + Equity

Share Reserves &

Non Current Surplus from =
Current Liabilities + Holder's + Income
Liabilities Profit & Loss
Capital

Income
Creditors Loan Captial Sales A/c Received
(Income)
(Discount A/c)

200000 400000

100000

715000

100000

200000

150000

-200000

-100000 2000

-2500

2500

2000
100000
 Income
Sales A/c
Creditors + Loan + Captial + Received
(Income)
(Discount A/c)

200000 400000 0 715000 350000 4000

100000

100000

Share
Non Current
Current Liabilities + + Holder's + Income
Liabilities Capital Profit & Loss
200000 + 400000 + 715000 + 350000 4000

1669000
 Trail Balance of Moon & Co. as on 31st March'2020

Account Debit (Rs) Credit (Rs)

Building 700000

Machinery 500000
Opening Stock 10000
Debtors 115000
Bills Receivables 5000

Cash 16000

Bank 30000
Purchase 200000
Purchase Return 5000
Sales 457000
Sales Return 7000
Rent 50000
Salaries 40000
Insurance Premium 20000
Repair &
10000
Maintenance
Wages 23000
Power & Fuel 20000
Interest Received 14000
Commission Received 12000
Carriage Inward 5000
Travelling Expenses 9000
Freight Outward 2000
Profit on the sale of 4000
Machinery
Capital 600000
Drawings 10000
4% Loan from SBI 500000

Creditors 130000

Bills Payable 50000

Total 1772000 1772000

Adjustments
1. At the end of year there was Closing Stock worth Rs 5000
2. The insurance Premium of Rs 4000 was unexpired at the end of year

3. The Salaries of Rs 20000 was unpaid

4. The rent includes the advance of Rs 16000 paid for the month of April & May’2020
5. Depreciation of 5% is to be charged on fixed assets
6. Interest on loan is due
7. Create a provision for doubtful debts at the rate of 2% on debtors
 Assets

Current Assets + Non Current Assets +

Sr.No

Cash Inventories debitors bank Plant & Machinery

1.0 Bldg 700000

2.0 Mach 500000

3.0 Stck 10000

4.0 db 115000
bills
5.0 recie 5000
vable
6.0 16000

7.0 30000

8.0

9.0

10.0

11.0

12.0

13.0

14.0

15.0

16.0

17.0

18.0

19.0

20.0

21.0 dwg 10000

22.0

23.0

24.0

Cash Inventories debitors bank + Plant & Machinery +

Beta
26000 Stk 10000 120000 30000 1200000
ltd

Bldg 700000

Mach 500000

Current Assets + Non Current Assets +

186000 + 1200000 +

1772000

1386000
-35000
-25000
-2300
-5000
16000
4000
1338700
sets = Liabilities

Expense Current Liabilities +

Purcchase A/c
Salaries Depreciati Insurance Rent
Main. (inventory) Creditors
Expense on Premium -Expense Paid

200000

7000

50000

40000

20000

Mn 10000

W 23000
P&
20000
F

C.In 5000

T.Ex 9000

Fr 2000
 B.
50000
Paya
Crd 130000

Salaries Depreciati Insurance Purcchase A/c Rent

Main. = Creditors +
Expense on Premium (Expense) Paid

40000 0 69000 20000 207000 50000 180000

Mone 0
y Ltd
Inventories =
stock = Beta
0
Purchase ltd
Gam
0
ma ltd

Expense = Current Liabilities +

386000 = 180000 +

72000

Depreciation
Depreciation
Less debt on Bad loans
Usage of Inventory [ Opening - Closing Stock]
Rent Advances
Unexpired premium
Liabilities + Equity

Share Reserves &

Non Current Surplus from =
Holder's + Income
Liabilities Profit & Loss
Capital

Income Income
Sales A/c
Loan Captial from Other Received
sources (Income) (Discount A/c)

5000
457000

Inc 14000

Com 12000

4000
 600000

500000

Income Income
Sales A/c
Loan + Captial + from Other Received
(Income)
sources (Discount A/c)

500000 0 600000 26000 457000 9000

Share
Non Current + Holder's + Income
Liabilities Capital Profit & Loss

500000 + 600000 + 483000 9000

97000
106000
1772000
 Current Assets

Sr.No

Cash Inventories debtors

1.0

2.0

3.0 Stck 32250

4.0

5.0

6.0

7.0

8.0

9.0

10.0

11.0

12.0

13.0

14.0

15.0

16.0

17.0

18.0 6000

12000 19.0 Bdebts 750

7500 20.0

7500 21.0
22.0

23.0

24.0

Cash Inventories debitors

Beta
6750 Stk 32250
ltd

Current Assets

91500

31800
 Assets

Assets + Non Current Assets + Expense

Salaries Depreciati Insurance

debtors bank Plant & Machinery Main.
Expense on Premium

Fr 18000

bldg 150000

Mn

W 10500
P&
F

Good
52500 12000 25500 C.In 3000 2700
will

Fr 4500
 Salaries Depreciati Insurance
debitors bank + Plant & Machinery + Main.
Expense on Premium

52500 0 180000 25500 0 18000 2700

Bldg 150000

Mach 0

Assets + Non Current Assets + Expense

00 + 180000 + 236700

508200

31800
 = Liabilities + Equity

Share
Non Current
ense Current Liabilities + Holder's +
Liabilities
Capital

Purcchase A/c
Rent
(inventory) Creditors Loan Captial
-Expense Paid

27000 187500

Cl
180000
stk
-7500

Inc

Com

Bank OD13500

18000

Crd 42000
 Bdebt
6000
s
B.
16950
Paya

Purcchase A/c Rent

= Creditors + Loan + Captial +
(Expense) Paid

172500 18000 64950 40500 0 187500

Mone 0
y Ltd
Inventories =
stock = Beta
0
Purchase ltd
Gam
0
ma ltd

Share
ense = Current Liabilities + Non Current + Holder's +
Liabilities Capital

700 = 64950 + 40500 + 187500 +

540000
 Equity

Reserves &
Income Surplus from =
Profit & Loss

Income Income
Sales A/c
from Other Received
sources (Income) (Discount A/c)

255000

26250

-12000
7500

Com

-22200
 -7500

Income Income
Sales A/c
from Other Received
(Income)
sources (Discount A/c)

26250 243000 -22200

Income
Profit & Loss

269250 -22200

10350
 Journal

Date Debit (Dr.)

dec. 01 Cash A/C

120000

dec. 02 Bank A/C

40000

dec.04 Purchase A/C 12000

dec.10 Carriage A/C

500

dec.12 Lara India A/C

25000

dec.14 Cash A/C

10000

dec.16
Sales A/C 3000

dec.18 Trade A/C

700

dec.19 Purchase A/C

32000

dec.20 Bank A/C

11500
Dis A/C
500

dec.22
Taranum A/C 1500
dec.24 Stationary A/C
1200

dec.26 Taranum A/C 20000

dec.28
Rent A/C 4000

dec.29
Capital A/C 10000

dec.30 Cash A/C 12000

dec.31 Rupak A/C 11000

314900

Ledger

Dr.
Cash A/C 142000
Bank A/C 51500
Purchase A/C 44000
Carriage A/C 500
Lara India A/C 25000
Sales A/C 3000
Trade A/C 700
Dis A/C 500
Taranum A/C 21500
Stationary A/C 1200
Rent A/C 4000
Capital A/C 10000
Rupak A/C 11000
 Credit (Cr
Asset

120000

Capital A/C 120000

cash -40000
Cash A/C
40000 bank 40000

pur 12000
Cash A/C
12000 cash -12000

carriage 500
Cash A/C
500 cash -500

Sales A/C 25000

Lara India A/C

10000

Lara India A/C

3000

Cash A/C
700

Taranum A/C 32000

Lara India A/C

12000
Purchase A/C
1500

Cash A/C
1200

Bank A/C 20000

Bank A/C 4000

Cash A/C 10000

Sales A/C 12000

Sales A/C 11000

314900

Trial Balance

Cr. To Dr. To CR.

64400 77600
24000 27500
1500 42500
0 500
25000 0
48000 45000
0 700
0 500
32000 10500
0 1200
0 4000
120000 110000
0 11000
` 165500 165500
Expense = Lia Capital

120000
Income