SURYA TRADING COMPANY

(01-04-2020 to 31-03-2021)
Date: 01-04-2020
Cash brought by owner in business- 1000000
Current account opened in bank- 600000
Preliminary expenses- 100000 chq-224101
Fixed assets purchased from Bharat company-400000
12% loan from HDFC bank-500000 Ch-224102
Purchase Statement
Date Party name Bill no Amount
01-04-2021 Sharma Trading co 1523 100000
01-05-2021 Verma Trading Co 8655 100000
01-06-2021 Dharma Trading Co 522 100000
01-07-2021 Karma Trading Co 362 100000
01-08-2021 Sharma Trading co 1566 100000
01-09-2021 Verma Trading Co 9001 100000
01-10-2021 Dharma Trading Co 636 100000
01-11-2021 Karma Trading Co 455 100000
01-12-2021 Sharma Trading co 1751 100000
01-01-2022 Verma Trading Co 9362 100000
01-02-2022 Dharma Trading Co 963 100000
01-03-2022 Karma Trading Co 503 100000
Sale Statement
Date Party name Bill no Amount
02-04-2021 Ansari Trading co 1301 120000
02-05-2021 Malik Trading Co 1302 120000
02-06-2021 Tyagi Trading Co 1303 120000
02-07-2021 salmani Trading Co 1304 120000
02-08-2021 Ansari Trading co 1305 120000
02-09-2021 Malik Trading Co 1306 120000
02-10-2021 Tyagi Trading Co 1307 120000
02-11-2021 salmani Trading Co 1308 120000
02-12-2021 Ansari Trading co 1309 120000
02-01-2022 Malik Trading Co 1310 120000
02-02-2022 Tyagi Trading Co 1311 120000
02-03-2022 salmani Trading Co 1312 120000
 Amount received from the following parties by cheque
Date Party name Chq. no Amount
02-10-2021 Ansari Trading co 253505 200000
02-10-2021 Malik Trading Co 265320 200000
02-10-2021 Tyagi Trading Co 555101 200000
02-10-2021 salmani Trading Co 263532 200000
Amount paid to the following parties by cheque
Date Party name Chq. no Amount
01-11-2021 Sharma Trading co 224103 150000
01-11-2021 Verma Trading Co 224104 150000
01-11-2021 Dharma Trading Co 224105 150000
01-11-2021 Karma Trading Co 224106 150000
Date Particulars Chq. no Amount
01-09-2021 Fixed assets purchased 100000
from Hindustan Tools
02-09-2021 Loan from ICICI Bank 500000
01-10-2021 Investment in PPF 224107 100000
02-10-2021 Amount paid to Bharat 224108 100000
machinery
31-10-2021 Machine Purchased 100000
from Usman co.

Expenses paid in cash

Date Particulars Amount Date Particulars Amount
01-05-2021 Salary paid 50000 01-09-2021 Advertisement Exp 59000
01-06-2021 Rent Paid 55000 01-10-2021 Stationary Exp 56000
01-07-2021 Insurance paid 54000 01-11-2021 Freight on Purchase 53000
01-08-2021 Delivery Expenses 51000 01-12-2021 Freight on sale 58000
Purchase return & Sale return
Date Particulars Bill no Amount
01-01-2022 Sharma Trading co 1751 12000
01-01-2022 Karma Trading Co 455 12000
02-12-2021 Ansari Trading co 1309 15000
02-01-2022 Malik Trading Co 1310 15000

Date: 02-03-2022
Payment received by cheque from all debtors 60% of amount
Payment paid to all creditors 60% of amount
Outstandiung Salary paid-2000
Ourstanding Rent paid-3000
 ADJUSTMENT OF ENTRIES ON CLOSING OF
ACCOUNTS
Put the closing stock in Books at the end of the each month
Calculation of value of closing stock
Confirmation letter for sundry debtors & sundry creditors
before closing the accounts
Do regular all optional entries
Pass the necessary journal entries of outstanding & prepaid
Example: outstanding salary, outstanding rent, prepaid
rent
Pass entries for Depreciation of fixed assets @ 15%
Pass Interest on loan Entries
Write off preliminary expenses on the end of closing year
Transfer a part of net profit to reserve fund
After transferring to reserve fund, Rest of the profit will
be added to capital A/c
Check the salary register of employee
Watch the cash Book carefully
Rounding off the cash book balance with the help of coin
adjustment A/c
Adjust the drawing into capital a/c
Reconcile all the balances of statement with book records
Enter the interest on receivable & payables
Backup all the data & restore the same
Split data