DAYANANDA SAGAR UNIVERSITY

CENTER FOR EXECUTIVE EDUCATION

EXECUTIVE – MBA- FEB- 2024
ACCOUNTING FOR MANAGERS
ASSIGNMENT I

You on successfully completing your graduation in business management with specialization in

entrepreneurship from Dayananda Sagar University, Bengaluru, decided to start
a merchandising business on 01-04-2023 in the form of a joint stock company along with your
six more classmates by investing Rs.6,00,000 via ordinary shares of Rs. 10 each in the business,
while other six members invest Rs.4,00,000 each by subscribing the equity shares with the face
value of Rs. 10 each in the company. The company was registered in the state of Karnataka
under Indian Companies Act 2013 for which Rs 1,00,000 was spent on 1.4.2023. After 3 months
(i.e., on 1.7.2023), the company went public and raised Rs.20,00,000 from the general public by
issuing equity shares of Rs.10 each at par and it also raised further Rs.50,00,000 by issue of 10%
debentures redeemable after 10 years. The business has been carried out for one-year period with
reasonable transactions including initial establishment activities, also buying, and selling of
merchandise of the business.
Now you are asked to –
 Name the business and briefly describe the nature of the business started by you,
 List down/Identify minimum fifty transactions that might have occurred during the
course of the business from 1.4.2023 to 31.03.2024 excluding the initial investment and
the fund mobilized,
 Journalize those transactions in the books of the company,
 Prepare the necessary ledger accounts based on the journal entries
 Show the Trial balance of the business as on the last date of the accounting period (31-
03-2024).
 Prepare the Financial statements of the company at the end of the year (31-03-2024), by
assuming minimum 10 adjustments for which the entries were not made in the journal so
for.
Instructions and Points to be Noted:
 Business entity name may be like……..‘Rohan Fashions Apparels Ltd’.
 The business is ‘B2B’ model.
 Business transactions are strictly to be in line with the nature of business formed (buying
and selling of any merchandise in wholesale).
 The fund available in the business is to be effectively used and not kept idle.
 Each ledger account should comprise of at least two entries.
 Transactions are to be of more real time in nature.
 GST can be considered on both buying and selling of merchandise and in all possible
transactions
 Financial statements (Profit and Loss Account and Balance Sheet) should be in
accordance with the Companies Act 2023.
 Minimum TWO Suppliers with repeated purchases should be there.
 Minimum THREE Customers with repeated sales should be there.
 There should be a bank account opened and used for receipt and payments.
 Minimum 20 Ledger accounts should be there in the trial balance.
 Discount allowed and received also should be accounted properly.

Submission Guidelines
 It is an individual assignment. The assignment can be type written / hand written neatly
 The assignment after completing in full (either hand written/type written) need to be
converted in to pdf file. Only the pdf file of the assignment shall be submitted
 Submission is only in the ERP. No submission is entertained through mail or any other
medium except ERP
 Submission is accepted only on or before 10th April 2024, or according to any other date
mentioned in the ERP
Format for you Reference:

Format of Journal
Date Particulars L/F Amount ( INR)
No. Debit Credit

(Narration……………………………
……………………………………….)

Format of Ledger

Dr Name of the Account Cr

Date Particulars J/F Amount Date Particular J/F Amount

Format of Trial balance

S. No Name of the Account Amount ( INR)
Debit Credit
 Total

Examples of Business Transactions are…………………

 paid rent to landlord Rs. 3,000.
 paid salary to manager Rs. 1,000.
 opened bank account in SBI by depositing Rs. 5,000.
 purchased 1,500 gent’s tracksuits for Rs.3,00,000.
 paid advertisement expenses Rs. 25,000.
 sold 1,000 tracksuits to Trinity Apparels Pvt Ltd for Rs.4,00,000.

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