FINANCIAL ACCOUNTING

Aanya sablok
Darshita golechha
Shariva abhale
Aboli zirpe
Gayatri Jadhav

Transactions on a restaurant
Nature of buisness -: sole proprietorship

TRANSACTIONS:
Jan 1 Commenced business with cash Rs.10,00,000 and
. cash at bank 15,00,000
Jan 3 Furniture bought 20k from Anuj
Jan 4 Kitchen appliances 5,00,000 paid by cheque
Jan 5 paid for gas water and fuel 30,000
Jan 6 Groceries 2,00,000 paid by cheque
Jan 7 Trade expenses 5k
Jan 10 Advertising 20k cash
 Jan 11 Sundry expense 2k cash
Jan 15 Drawings 50000 cash
Jan 18 Paid to Anuj 15 k bank
Jan 25 Rent received 50,000
Jan 27 Repair maintenance 10k
Jan 28 Sales 6,00,000
Jan 29 Rent paid 40,000
Jan 30 Electricity bill 50k cheque
Jan 3o Salary 1,50,000 cash
Jan 31 wages paid 20,000

JOURNAL ENTRIES
Date Particulars LF Debit Credit amount
amount

2018

Cash a/c Dr 10,00,000

Bank a/c Dr 15,00,000
Jan.1 To capital a/c
(Being business commenced with 25,00,000
cash and bank )

Furniture a/c Dr 20,000

To Anuj a/c 20,000
(Being furniture purchased from
Jan.3 Anuj )

Kitchen appliances a/c dr 5,00,000

To bank a/c 5,00,000
Jan 4 (Being kitchen appliances bought
and paid by cheque)
Jan 5 Gas, water and fuel a/c dr 30,000
To cash 30,000
(Being cash paid for gas, water and
fuel)

Groceries a/c Dr 2,00,000

To Bank a/c 2,00,000
Jan 6 (Being groceries bought and paid by
cheque)

Trade expenses a/c Dr 5,000 5,000

To cash a/c
(Being trade expenses paid)
Jan 7

Advertising a/c Dr 20,000

To purchase a/c 20,000
(Being advertisement expense paid)
Jan 10

Sundry expenses a/c Dr 1000 1000

Jan 11 To cash a/c
(Being sundry expenses paid)

Drawing a/c Dr 50,000

To cash a/c 50,0 00
Jan 15 (Being cash withdrawn)

Jan 16 Anuj a/c Dr 5,00,000

To bank 5,00,000
(being cheque paid to anuj)

Anuj A/c Dr 15,00,000

Jan 18 To bank a/c 15,00,000
(Being cheque paid to Anuj)

Rent received a/c dr 50,000

Jan 25 To Cash a/c 50,000
(Being rent received by cash )

Repair and maintenance a/c Dr 10,000

To cash a/c 10,000
Jan 27 (Being repair and maintenance exp
paid)

Bank a/c Dr 6,00,000

Jan 28 To sales a/c 6,00,000
(Being goods sold )

Rent paid a/c Dr 40,000

To cash a/c 40,000
(Being rent paid by cash)
Jan 29

Electricity bill a/c dr 50,000 50,000

Jan 30 To bank a/c
(Being electricity bill paid by cheque)
Jan 30

Salary a/c Dr 1,50,000 1,50,000

Jan 31 To cash a/c
(Being salary paid)

Wages a/c 20,000 20,000

Jan 31 To cash a/c
(Being wages paid)

TOTAL
42,11,000 421000

LEDGER
 Cash a/c

Date Particulars JF Amount Date Particulars JF Amount

Jan 1 To capital 1 10,00,000 Jan 7 By trade expenses 1 5000

Jan 11 By sundry expenses 1 1000

Jan 25 To rent received 2 50,000 Jan 15 By drawings 1 50,000

Jan 18 By Anuj 2 15,000

Jan 27 By repair and 2 10,000

maintenance

Jan29 Rent paid 2 40,000

Jan 31 By Salary 150000

By balance c/d 784,000

10,50,000 10,50,000

Bank a/c
Date Particulars JF Amount Date Particulars JF Amount

To capital 15,00,000 Jan 4 By kitchen appliances 5,00,000

Jan 28 To sales 6,00,000 Jan 6 By groceries 2,00,000

Jan 30 By electricity bill 50,000

13,50,000

21,00,000 21,00,000

Furniture
Date Particulars JF Amount Date Particulars J Amount
F

Jan 16 To bank 5,00,000

Jan 18 To bank 20,00,000 By anuj 20,00,000

By balance b/d

Kitchen Appliances

Date Particulars JF Amount Date Particulars JF Amount

Jan 4 To bank 5,00,00 By balance c/d 5,00,000

To balance b/d 5,00,000

Groceries
Date Particulars JF Amount Date Particulars JF Amount
Jan6 To bank 2,00,000

To balance b/d

Trade expenses

Date Particulars JF Amount Date Particulars JF Amount

Jan 7 To cash 6000 By balance c/d 6000

Jan 31 To balance b/d 6000

Advertising

Date Particulars JF Amount Date Particulars JF Amount

Jan 10 To purchase 20,000 Jan 31 By balance c/d 20,000

20,000 20,000

To balance b/d 20,000

Sundry expenses
Date Particulars JF Amount Date Particulars JF Amount

Jan 11 To cash 1000 By balance c/d

Jan 31 To balance b/d

drawings
Date Particulars JF Amount Date Particulars JF Amount

Jan 15 To cash 50,000 By balance c/d 50,000

Jan 31 To balance b/d 50,000

Anuj
Date Particulars JF Amount Date Particulars JF Amount

Jan 16 To bank 5,00,000 Jan 3 By Furniture 20,00,000

Jan 18 To bank 15,00,000

20,00,000 20,00,00
 Rent
Date Particulars JF Amount Date Particulars JF Amount

Jan 29 To cash 40,000 Jan 25 cash 50,000

Jan 31 To balance c/d 10,000

50,000 50,000

Repair and maintenance

Date Particulars JF Amount Date Particulars JF Amount

Jan 27 To cash 10,000

Jan 31 By balance c/d 10,000

10,000 10,000

Sales

Date Particulars JF Amount Date Particulars JF Amount

 By bank 6,00,000

Purchase
Date Particulars JF Amount Date Particulars JF Amount

To advertising 20,000

Gas water and fuel

Date Particulars JF Amount Date Particulars JF Amount

Jan 5 To cash 30,000

Jan 31 By balance c/d 30,000

Electricity
Date Particulars JF Amount Date Particulars JF Amount

Jan 30 To bank 50,000

Jan 31 By balance c/d 50,000

Salary
Date Particulars JF Amount Date Particulars JF Amount

Jan 30 To cash 1,50,000 Jan 31 By balance c/d 1,50,000

1,50,000 1,50,000

Wages

Date Particulars JF Amount Date Particulars JF Amount

Jan 31 To cash 20,000

Capital
Date Particulars JF Amount Date Particulars JF Amount

Jan 31 By balance c/d 25,00,000 Jan 1 By Cash 10,00,000

By bank 15,00,000

Trial balance
Sr.no Particulars Debit amount Credit amount

1 Capital 25,00,000

2 Furniture 20,000

3 Cash 7,84,000

4 Bank balance 13,50,000

5 Kitchen appliances 5,00,000

6 Groceries 2,00,000

7 Trade expenses 5,000

8 Advertising 20,000

9 Sundry expenses 2000

10 Drawings 50,000

11 Rent 40,000 50,000

12 Repair and maintenance 10,000

13 Sales 6,00,000

14 Gas water and fuel 30,000

15 electricity 50,000

16 Salary 1,50,000

17 Wages 20,000

18 Purchase 20,000

31,30,000 31,30,000
 Trading a/c
Particulars Amount Amount Particulars Amount Amount
to gas ,water and fuel 30,000 by sales 600000

to wages 20,000

to purchases 20,000

To gross profit t/f to profit 5,30,000

and loss a/c

600,000 600,000
 Profit and loss a/c
Particulars Amount Amount Particulars Amount Amount
By gross profit 5,30,000

To the cost of furniture 20,000 By sales 6,00,000

To kitchen appliances 5,00,000 By rent 50,000

To the cost of groceries 2,00,000

To trade expenses 5,000

To advertising 20,000

To sundry expenses 2,000

To rent 40,000

To electricity bill 50,000

To salary 1,50,000

To repair maintenance 10,000

To drawings 50,000

To net profit 133,000

 11,80,000 11,80,000

Balance sheet
Liabilities Amount Amount Asset Amount Amount
Capital 25,00,000

(less )drawings (50,000) Cash 7,84,000

Net profit 1,33,000 25,83,000

Sundry Expenses 2000 Cash at Bank 13,50,000

Wages 20,000 Furniture 20,00,000

Creditor 20,00,000 Kitchen Appliances 5,00,000

4605000 4605000