CIA 1

SCHOOL OF BUSINESS AND MANAGEMENT

FINANCIAL ACCOUNTING

Submitted to- Dr, Babita Chaudhary

By-Kavya Jha,23211120
Financial Transaction for the month of March,2023
-Took a loan from bank worth ₹7,00,000 on 2nd March, 2023
-Started a business with a capital of ₹4,00,000 cash on 5th
March,2023
-Land purchase worth ₹2,00,000 payment made through bank on
12th March,2023
-Purchased office interior on 13th March,2023 worth ₹10,000 in cash
- Good purchased in cash worth ₹50,000 with 20% discount on 17th
March,2023
-Royalty paid for production of new material worth ₹24,000 through
bank on 25th March,2023
-Sold goods to Mr shayam&co worth ₹40,000 with 10% discount on
27th March,2023
-Insurance premium worth ₹25,000 paid by check on 28th March,2023
-Salary paid to staff on 30th March,2023 worth ₹1,50,000 through
bank.
-Commission received worth ₹2,000 in cash on 31st March,2023
 JOURNAL
AS ON 31ST MARCH, 2023

Date Particulars L.F Debit(₹) Credit(₹)

2nd March,2023 Bank A/C 7,00,000
Dr
7,00,000
To Loan A/C
(Being loan taken from bank)

5th March,2023 Cash A/C 4,00,000

Dr
4,00,000
To Capital A/C
(Being capital introduced)

12th March,2023 Land A/C 2,00,000

Dr
2,00,000
To Bank A/C
(Being land purchased)
13th March,2023
Furniture and fixture A/C Dr 10,000
To Cash A/C 10,000
(Being furniture purchased for
office)
17th March,2023 Purchase A/C 50,000
Dr
40,000
To Cash A/C
10,000
To Discount A/C

23 March,2023 (Being goods purchased and

discount received)
Royalty A/C Dr 24,000
To Bank A/C 24,000

27th March,2023 (Being royalty expenses made)

Cash A/C Dr 36,000
Discount allowed A/C 4,000
To Sales A/C 40,000
(Being goods sold on cash with
discount allowed)

Insurance Premium A/C Dr 25000

28th March,2023
To Cash A/C 25000
(Being insurance premium paid
through bank)

Salary A/C Dr 15,000

30th March,2023
To Bank A/C 15,000
(being salary given)

Cash A/C 20,000

31st March.2023
Dr
20,000
To rent A/C
(Being rent received in cash)
 LEDGER POSTING

Dr CASH A/C cr

Date Particulars J.F Amount Date Particulars J.F Amount

To capital A/c 4,00,000 By furniture A/c 10,000

To sale A/c 40,000 By Discount received 10,000

A/c

To discount allowed 4,000 By purchases A/c 40,000

A/c

To rent A/c 20,000

BANK A/C

Date Particulars J.F Amount Date Particulars J. Amount

F
12th To loan A/c 7,00,000 By Land A/C 2,00,000
march,202
3

By salary A/c 15,000

By Royalty A/c 24,000

Loan A/C

Date Particulars J.F Amount Date Particulars J.F Amount

By Bank 7,00,000

Capital A/C

Date particulars J.F Amount date Particulars J.F Amount

by cash A/C 4,00,000

Land A/C

Date Particulars J.F amount date Particulars J.F Amount

To bank A/C 2,00,000

Furniture and fixtures A/C

Date Particulars J.F Amount Date Particulars J.F Amount

To cash A/c 10,000

Purchase A/C

Date Particulars J.F Amount Date Particulars J.F Amount

To cash A/C 40,000

To discount A/c 10,000

Royalty A/C

Date Particulars J.F Amount Date Particulars J.F Amount

To bank 24,000

Insurance premium A/C

Date Particulars J.F Amount Date Particulars J.F Amount

To cash A/c 25,000

Salary A/C

Date particulars J.F Amount date Particulars J.F Amount

To Bank 15,000

RENT A/C

Date particulars J.F Amount date Particulars J.F Amount

By Cash A/c 20,000

 SALES A/C

Date Particular J.F Amount Date Particular J.F Amount

BY Cash A/c 36,000

By discount allowed A/c 4,000

DISCOUNT ALLOWED A/C

DATE PARTICULAR J.F AMOUNT DATE PARTICULAR J.F AMOUNT

TO SALES A/C 40,000 BY CASH A/C 36,000

DISCOUNT RECEIVED A/C

DATE PARTICULAR J.F AMOUNT DATE PARTICULAR J.F AMOUNT

TO CASH A/C 40,000 BY PURCHASE A/C 50,000