Comprehensive Project 1 1. Name of the Project : A Study of the business of M/s Alpana Kids Garments 2. Objectives of the Project : (i) To know whether M/s Alpana Kids Garments is a success or a failure (il) To know whether the Bank will give loan for their business. 3. Period of Study : One year ending 31st March 2015 4, Analystical tools used : Necessary Accounting Ratios 5. Source Material : Project Statement PROJECT STATEMENT : M/s Alpana Kids Garments Mr. Kanha had 1,000 shares of ICICI Ltd. of € 100 each. In March, 2014, he sold his shares @ € 980 each. With this amount, he decided to set up a business of Kid Garments on 1 April, 2014 under the name of M/S Alpana Kids Garments. He decided that all transactions should be made through bank and deposited the whole money in Dena Bank. He purchased a running factory of Kid Garments consisting of Factory Land and Building 4,00,000, Plant and Machinery & 3,50,000, Furniture € 50,000, Stock & 90,000 but agreed to pay % 9,50,000 as purchase consideration. He later approached his banker for a loan to meet the working capital requirement. Bank advanced loan amounting to € 4,00,000 @ 10% p.a. He purchased a Laptop for € 30,000. His transactions for the year ending 31st March, 2015 were as follows : z ‘Total Purchases (¥ 8,30,000 in credit) 12,40,000 Total Sales (€ 15,25,000 in credit) 20,50,000 Wages 2,30,000 Carriage inwards 20,500 Power and Lighting 15,500 Salary of Staff and Manager 1,25,000 Postage and Call 4,200 Printing and Stationery 3,800 Advertising 16,700 Insurance Premium 12,100 Conveyance 13,200 Cash received from Debtors 12,10,000 10% Fixed Deposit in Dena Bank 5,00,000 Paid to Creditors 6,50,000 Receivable received from debtors 4,00,000 Bills accepted in favour of creditors 80,000 Drawings during the year @ & 5,000 p.m. 60,000 You are required to (1) Journalise these transactions and post them into ledger accounts and prepare a Trial Balance. (2) Prepare Trading and Profit and Loss Account for the year ended 31st March, 2015 and Balance Sheet as at that date after considering the following adjustments: A ceountaney - 12 ®