DEEPSHIKHA’S COMPUTER

Inventory Sum 3
The following would be recording in journal using double entry system. Do the posting
process from journal entries and prepare the Trial balance, Trading a/c, Profit & loss a/c
and balance sheet with inventory maintain in the books of M/s. INFO TECH LTD for the
following year 2024 to 2025.
Create The Opening Balance :
Particular Dr Cr
Capital 3,00,000
Bonus payable 60,000
Salary due 40,000
Cash 1,00,000
Indian Bank 70,000
Free hold property 30,000
Security deposit 1,50,000
Good will 1,00,000
Rent outstanding 50,000
Land & buildings 25,000
Furniture & fittings 25,000
Machinery 50,000

STOCK IN HAND:

• Sony TV 10nos Rs.10,000

• Stabilizer 15nos Rs.2500

• Onida DVD player 15nos Rs.3500

• Electronic spare parts 50nos Rs.200

TRANSACTION DURATION PERIOD:

1. Purchased To Mr. KODAK P LTD for the followings

• Sony LCD TV 12nos Rs.15000

• Sony DVD Player 15nos Rs.7000 bill no:30

2. Paid travelling expenses Rs.1300

3. Paid insurance premium Rs.1800

By Vihan Jangid 9983529492 jangidvihan123@outlook.com

 DEEPSHIKHA’S COMPUTER

4. Sales to goods Mr.CNC Traders for the followings

• Sony TV 7nos Rs.13000

• Sony LCD 8nos Rs.20000 bill no: 40

5. Deposit in to bank Rs.6000

6. Return into Mr. KODAK for the followings

• Sony DVD player 3nos Rs.7000

7. Cash sale to Mr. Info Tech for the followings

• Stabilizer 5nos Rs.4000

• Onida DVD player 8nos Rs.6500 bill no: 43

8. Paid to Electronic charges Rs.3000

9. With draw from personal use Rs.1700

10. Received dividend received Rs.9500

11. Stock transfer to Bangalore branch

• Electronic spare parts 20nos Rs.200

12. Paid to Mr. KODAK P LTD Rs.100000

13. After Stock verify Electronic spare parts 10nos only

Answers:

opening balance 6,00,000

Gross profit 84,500
Net profit 87,900
Balance sheet 8,50,200
Closing stock 2,25,500

By Vihan Jangid 9983529492 jangidvihan123@outlook.com