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ACCOUNTS..
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PROJECT WORK ON
ACCOUNTS
PRESENTED BY-
NAVNEET SINGH RASHA
CLASS-XI C
ROLL NO. :- 47
Ans:–Sole trader is a person who carries on business exclusively for himself. He alone establishes the business, arranges its business, manages it’s affairs and bears all its risks. He alone is responsible for profit & losses of the business.
Ans:-I would like to be a sole trader because from my point of view I would like to run my own business for which I will only be responsible for all the risks and wanted to raise my business according to the demand in the market.
SOLE TRADER
•THE PROCESS WHICH YOU WOULD TAKE TO PURCHASE
PRODUCT?
FOR BULK PURCHASE
ENQUIRY
QUATATION
ORDER
EXEQUTION OF ORDER
DELIVERY OF GOODS
PAYMENT
SINGLE ITEM PURCHASE
ENQUIRY
SELECTION OF PRODUCT
PAYMENT OR PARTELY PAYMENT
HOME DELIVERY
PARTICULARS
AMOUNT2007(Dr.)
AMOUNT 2007(Cr.)
AMOUNT2008(Dr.)
AMOUNT 2008(Cr.)
Opening stock 30000
Land 80000 80000
Building 60000 60000
Furniture 50000 50000
Machinery 70000 70000
Live Stock 60000 60000
Bills 6000 5000 4000 8000
Cash at Bank 10000 12000
Cash in Hand 6000 10000
Purchases 140000 170000
Particulars Amount
2007(Dr.)
Amount
2008 (Cr.)
Particulars Amount
2007(Dr.)
Amount
2008(Cr.)
To opening
stock
30000 By sales 290000 360000
To purchases 140000 170000 By closing
stock
30000 32000
To wages 8000 10000
To carriage
inwards
3000 4000
To gross
profit
1,69,000 1,78,000
TOTAL 3,20,000 3,92,000 3,20,000 3,92,000
*BALANCE SHEET
as on 31st December,2007,2008Particulars Working
of 2007
(Dr.)
Amoun
t 2007
(Dr.)
Working
of 2008
(Cr.)
Amount
2008(Cr.
)
Particula
rs
Amount
2007(Dr
.)
Amount
2008(Cr.
)
Capital 120000 145000 Land 80000 80000
Add : Net
Profit
137000 140000 Building 60000 60000
Less :
Drawings
8000 249000 10000 275000 Furniture 50000 50000
Machiner
y
70000 70000
Long term
loan
85000 80000
Closing
stock
30000 32000
Creditors 55000 45000 Live
Stock
60000 60000
Bills 5000 8000 Cash at 10000 12000
ANTICIPATED
TRIAL BALANCE OF NEW FURNITURE
WORLDAS ON 31ST DECEMBER, 2009,2010
Particulars Amount 2009
(Dr.)
Amount 2009
(Cr.)
Amount 2010
(Dr.)
Amount 2010
(Cr.)
Opening stock 32000 20000
Land 80000 80000
Building 60000 60000
Furniture 50000 50000
Machinery 70000 70000
Live Stock 60000 60000
Bills 8000 10000 12000 15000
Cash at Bank 30000 50000
Cash in Hand 45000 60000
Purchases 200000 300000
Sales 500000 650000
Debtors 5000 10000
Creditors 10000 6000
ANTICIPATED
NEW FURNITURE WORLD
Trading, Profit & Loss A/c.for the year ending 31st December, 2009,2010
Particulars Amount
2009 (Dr.)
Amount
2010 (Cr.)
Particulars Amount
2009 (Dr.)
Amount
2010 (Cr.)
To Opening
stock
32000 20000 By Sales 500000 650000
To Purchases 200000 300000 By Closing
stock
20000 60000
To Wages 5000 10000
To Carriage 15000 25000
To Gross
profit
(Transferred
to p&l A/c.
268000 355000
TOTAL 5,20,000 7,10,000 5,20,000 7,10,000
Particula
rs11
Working
of 2009
Amount
of 2009
Working
of 2010
Amount
of 2010
Particula
rs
Amount
of 2009
Amount
of 2010
Capital 150000 200000 Land 80000 80000
(ADD):-
Net
profit
181000 226000 Building 60000 60000
(LESS):-
Drawings
20000 311000 10000 416000 Furniture 50000 50000
Machiner
y
70000 70000
Long
term loan
97000 75000
0
100000
200000
300000
400000
500000
600000
700000
2007 2008 2009 2010SALES 290000 360000 500000 650000
SALES
0
50000
100000
150000
200000
250000
2007 2008 2009 2010NET PROFIT 137000 140000 181000 226000
Axi
s Ti
tle
NET PROFIT
What steps where taken by you to increase the sale?
Ans :- The steps taken by me to increase
the sale are :
i. Making good quality of the product.
ii. Regular supply of the product in the
market.
iii. Better Transport Facility has to be made.
iv. Providing services to the customer
according to their needs.
What problems encountered by you to set up the business?
> For setting this business I have to need a huge capital for which I took a loan from bank for a particular period.
> For growth of my business I have to work hard because as it was not known by the normal customers.
What problems encountered by you while making this project?
> I have taken help from my friend Manish for making the balance sheet.