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8/9/2019 Panache Boutique
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105768
1 the company is Panache Boutique and manufactures of designer embriodery Stiched suit and sim
2 owner equity is 211536 OE
3 long term loan taken Rs 400000 400000 loan 611536
4 total fixed asset
a sewing machine 4 no's @10000 40000 cash
b embroidary m/c 2 no's @ 15000 30000 cashc Factory for Rs 100000 100000 cash
d Automatic cutting machine as per 40000 cash
e Furniture 10000 credit
total 220000
5 Scrap Value of fixed assests
a sewing machine 20000 after 5 years
b embroidary m/c 15000 after 5 years
c Factory for 50000 after 5 years
d Automatic cutting machine 20000 after 5 years
e Furniture 5000 after 5 years
6 Depritiation by straight line method @ 12% per annum
a sewing machine 416.67b embroidary m/c 312.5
c Factory for 1041.67
d Automatic cutting machine 416.67
e Furniture 104.17
7 Normal Raw Material purchased how many unit can be produced by one group purchasing
a 2000 300000 500
b Simple thread@2 per 1000 2000 500
c embroidary Thread @ 2500 25000 250 only for embroidery
d (Adjunct rough cloth)b 3500 28000 500
total 355000
8 Products
a Simple stiched suit @ 1050 margin on simpl 340b Deisgner embroidery @ 1750 0 in on em 540
9 Cost of production of suits
a Simple stiched suit used per scost qty Unit price
a1 4 600 1000 150 150000
a2 Simple thread@2 per 2 4 500 2 1000
a3 (Adjunct rough cloth)b 7 56 1750 8 14000
a4 designing cost @ 50 per suit 50 165000
total 710 checked ross cos 177500
b Deisgner embroidery Stiched suit. qty Unit price
b1 4 600 1000 150 150000
b2 Simple thread@2 per 2 4 500 2 1000
b3 embroidary Thread @ 5 50 2500 10 25000b4 (Adjunct rough cloth)b 7 56 1750 8 14000
b5 designing cost 0 500 500 125000
1210 checked ross cos 315000
10 Average monthly production
a Simple stiched suit 600
b Deisgner embroidery 550
11 Average Sales per month
cloth@150per meter
cloth@150per meter
cloth@150per meter
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a Simple stiched suit 575 25 buffer maintainde per month
b Deisgner embroidery 525 25
12 All books are mainted on accrual principle
13 Raw Material is valued @ FIFO
14 JIT is followed for the Inventory procurement
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ple stiched suits and company sells these to big brand houses in bulk
500
12500
710
12500
500
1260
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Accounting Period
my understanding S.no Date Naration
capital 1 20-Oct-09
fa 2 25-Oct-09
bank 3 25-Oct-09
loan bank 4 30-Oct-09fa credit 5 31-Oct-09
exp 6 1-Nov-09 Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply o
FA cheque 7 10-Nov-09 bought machinery (stiching, cutting machine, embroidery) paid b
inventory 8 15-Nov-09
designer 9 15-Nov-09
exp other consumabl 10 20-Nov-09 brought stationary and other (pheripheral like scicors, needles et
order 11 21-Nov-09
exp 12 22-Nov-09 t raining to designer For handling the cutting machines also (muti
delivery 13 30-Nov-09
14 30-Nov-09 paid electricity bill Rs 21500 to Pseb for the month by online pa
15 30-Nov-09 Bank monthly install ment auto deduction by bank throgh net wit
SECOND PERIOD( 1-DEC-09 -31-DEC-09)BALANCE CARRIED FORWARD
1 1-Dec-09 SALARY GIVEN TO DESIGNER
inventory cash and c 2 1-Dec-09
3 9-Dec-09
4 10-Dec-09
5 11-Dec-09due to exigency factory closed for a 7 days-holiday
6 12-Dec-09 holiday
7 13-Dec-09 holiday
8 14-Dec-09 holiday
9 15-Dec-09 holiday (total) scenario) till date is
10 16-Dec-09 holiday
11 17-Dec-09 holiday12 18-Dec-09
13 19-Dec-09
14 20-Dec-09paid for the furniture by cheque -105768
15 21-Dec-09 Bank monthly install ment auto deduction by bank throgh net wit
16 22-Dec-09paid Gupta thread merchant Rs 5 lakh cash
17 23-Dec-09 paid electricity bill Rs 21500 to Pseb for the month by online pa
18 24-Dec-09
19 31-Dec-09
THIRD PERIOD ( 1 JAN 2010 -31ST JAN 2010)
BALANCE CARRIED FORWARD1 1-Jan-10 ADVANCE RECEIVED FROM DESIGNERS 10000
2 5-Jan-10 SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CREDI
3 10-Jan-10 SOLD 200 EMB SUIT TO AMBA FASHION IN CASH
4 14-Jan-10 PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
5 16-Jan-10 MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS
6 20-Jan-10 PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
7 25-Jan-10 SOLD AMBA FASHION 200 EACH IN CASH
introduced capital owner equity initial )
bought factory in cash
open A/c with SBI deposited 20000
Availed loan of Rs 400000 @ 10% from SBI simple interest to bbrought furniture on credit from Classic furniture
bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter
hired 2 designer adept to handle embrodery m/c and hence fort
received order from a Gauri School for the Anuall function of 20
goods delivered to gauri school half payment recived in cash
bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter
received remaining payment from Gauri school in bank A|C by
sold simple stiched suit 400 nos to Rajan Cloth giant in cash
sold 200 numbers of simple and 100 embtoidery suit in cash to A
As Amba fashion House being the Major Player in this Area, C
bulk ( double of normal purchase) purchase of inventory @ 10%
due to nexus with Amba Fashion recived order for 300 of each
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8 30-Jan-10 RECIVED PAYABLE FROM RAJAN CLOTH GAINT IN BANK A
9 31-Jan-10 Bank monthly install ment auto deduction by bank throgh net wit
10 31-Jan-10 paid electricity bill Rs 21500 to Pseb for the month by online pa
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not balance simple
20-Oct-09 bank deducti cash balaloan to b order payable recieveabl advance lume of su
211536 211536 0 0 0
100000 100000 111536
20000 in bank 20000 91536
400000 420000 91536 440000 40000010000 10000
2200 2200 89336
110000 310000
355000 50000 39336 305000 250
10000 10000 29336 10000
3500 25836
350000 350000
2000 2000 23836
175000 198836 `-350000 175000 `-200
21500 288500
interest R 278500
16000 182836
355000 50000 132836 305000 300
175000 453500 `-175000
420000 552836
300
considered only for invt
453500 234200 552836 not paid zero 610000 zero 10000 300
385000 937836 `-200
5000 5000 932836 100
10000 443500
10000 433500
500000 432836 110000
21500 412000
639000 162000 182836 139000 600
250000 250000
840000 1022836 300
10000 1032836
315000 315000 0
350000 1382836
355000 1027836 250
25000 1002836
355000 647836 500
560000 1207836 200
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315000
interest Rs 10000 per month for 5 years b
ment by sbi
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emb
it I can ma
250
500
`-400
100
100
`-100
0
500
200
0
250
500
200
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Date Explanation Ref no. Dr Cr
20-Oct-09CASH UP 1 211536 20-Oct-09
CAPITAL UP 211536
25-Oct-09FACTORY AS (FA) UP 2 100000 25-Oct-09
CASH A/C DOWN 100000
25-Oct-09BANK A/C 3 20000 25-Oct-09
CASH A/C DOWN 20000
30-Oct-09BANK A/C UP 4 400000 30-Oct-09
LOAN A/C (liability) 400000
31-Oct-09FURNITURE A/C 5 10000 31-Oct-09
CREDITOR CLASSIC 10000
1-Nov-09PSEB ELECTRIC EQUIPMENT 6 2200 1-Nov-09
CASH A/C DOWN 2200
10-Nov-09
MACHINEARY FA UP 7 110000 10-Nov-09
BANK A/C DOWN 110000
15-Nov-09
PURCHASE A/C FOR INVEN 8 355000 15-Nov-09
CASH A/C DOWN 50000
CREDITOR A/C 305000
15-Nov-09DESIGNER A/C 9 10000 15-Nov-09
DEBTORS A/C 10000
20-Nov-09PURCHASE A/C FOR MISC 10 3500 20-Nov-09
CASH A/C DOWN 3500
21-Nov-09RECEIVED ORDER SO NO VALUE TRANS 11 21-Nov-09
22-Nov-09TRAINING A/C 12 2000 22-Nov-09
CASH A/C DOWN 2000
30-Nov-09
CASH A/C UP 13 175000 30-Nov-09RECEIVABLE A/C 175000
SALES A/C 350000
30-Nov-09ELECTRIC EXPENSE 14 21500 30-Nov-09
CASH AC 21500
30-Nov-09LOAN A/C 15 10000 30-Nov-09
BANK AC 10000
SECOND
1-Dec-09SALARY A/C 1 16000 1-Dec-09
CASH AC GUPTA 16000
1-Dec-09
PURCHASE A/C FOR INVEN 2 355000 1-Dec-09
CASH A/C DOWN 50000
CREDITOR A/C GUPTA 305000
9-Dec-09BANK A/C UP 3 175000 9-Dec-09
DEBTORS A/C GAURI 175000
10-Dec-09CASH A/C UP 4 420000 10-Dec-09
SALES A/C RAJAN 420000
18-Dec-09CASH A/C UP 12 385000 18-Dec-09
SALES A/C 385000
JOURNAL ENTERIES PANACHE BOUTIQUE FOR ( 20/10/2009 TO30/11/2009 )
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19-Dec-09PURCHASE A/C EXPENSE 13 5000 19-Dec-09
CASH DOWN GIFT 5000
20-Dec-09CREDITOR A/C 14 10000 20-Dec-09
BANK A/C 105768 10000
21-Dec-09LOAN A/C 15 10000 21-Dec-09
BANK A/C 10000
22-Dec-09CREDITOR A/C 16 500000 22-Dec-09
CASH A/C 500000
23-Dec-09PSEB ELECTRICEXPENSE 17 21500 23-Dec-09
BANK A/C 21500
24-Dec-09
PURCHASE A/C FOR INVEN 18 710000 24-Dec-09
DISCOUNT 71000
CASH AC TOTAL 639000 250000
BANK AC 250000
CREDITOR A/C 139000
31-Dec-09CASH A/C UP 19 840000 31-Dec-09
CREDITOR A/C 840000
THIRD
1-Jan-10CASH UP 1 10000 1-Jan-10
DEBTORS A/C 10000
5-Jan-10CASH UP 2 315000 5-Jan-10
SALES A/C 315000
10-Jan-10CASH UP 3 350000 10-Jan-10
SALES A/C 350000
14-Jan-10PURCHASE AC UP 4 355000 14-Jan-10
CASH DOWN 355000
16-Jan-10
PURCHASE AC EXP 5 25000 16-Jan-10
CASH DOWN 25000
20-Jan-10PURCHASE AC UP 4 355000 20-Jan-10
CASH DOWN 355000
25-Jan-10CASH UP 7 560000 25-Jan-10
SALES 560000
30-Jan-10CREDITOR A/C 8 840000 30-Jan-10
SALES UP 31-Dec-09 840000
31-Jan-10LOAN A/C 9 10000 31-Jan-10
BANK A/C 10000
31-Jan-10PSEB ELECTRICEXPENSE 10 21500 31-Jan-10
BANK A/C 21500
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Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of electricity to run the machines
bought machinery (stiching, cutting machine, embroidery) paid by cheque 105765 write details also
brought stationary and other (pheripheral like scicors, needles etc worth Rs 3500 on cash
training to designer For handling the cutting machines also (mutiple tasking) more effectively paid in cash to trainer.
paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b
SALARY GIVEN TO DESIGNER BY CASH
introduced capital owner equity initial )
bought factory in cash
open A/c with SBI deposited 20000
Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly installment over a feriod of 5 yea
brought furniture on credit from Classic furniture
bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb thread @ 10 per piece , 2500
hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hiring advance given to each 50
received order from a Gauri School for the Anuall function of 200 embroidery suit for childrens
goods delivered to gauri school half payment recived in cash and rest on credit
bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb thread @ 10 per piece , 2500
received remaining payment from Gauri school in bank A|C by wire transfer
sold simple stiched suit 400 nos to Rajan Cloth giant in cash
sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion house (major playewr in the market
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paid for the furniture by cheque -105768
Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b
paid Gupta thread merchant Rs 5 lakh cash
paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
ADVANCE RECEIVED FROM DESIGNERS 10000
SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CASH
SOLD 200 EMB SUIT TO AMBA FASHION IN CASH
PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS 25000
PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
SOLD AMBA FASHION 200 EACH IN CASH
AMBA FASHION SPECIAL ORDER DELIVERED
Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b
paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
As Amba fashion House being the Major Player in this Area, Company decide to give one time gift worth Rs 5000 to
bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mode cash 250000+ bank 25000
due to nexus with Amba Fashion recived order for 300 of each emb and simple suits payment in advance in cash rs
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16000
0
175000
0
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0
5000
10000
10000
500000
21500
0
250000
0
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Capital Account
Tr. No Narratio Amount Tr. No Narratio Amount
CASH Account
Tr. No Narratio Amount Tr. No Narratio Amount
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Date Explanation Ref no. Dr Cr
20-Oct-09CASH UP 1 211536 20-Oct-09
CAPITAL UP 211536
25-Oct-09FACTORY AS (FA) UP 2 100000 25-Oct-09
CASH A/C DOWN 100000
25-Oct-09BANK A/C 3 20000 25-Oct-09
CASH A/C DOWN 20000
30-Oct-09BANK A/C UP 4 400000 30-Oct-09
LOAN A/C (liability) 400000
31-Oct-09FURNITURE A/C 5 10000 31-Oct-09
CREDITOR CLASSIC 10000
1-Nov-09PSEB ELECTRIC EQUIPMENT 6 2200 1-Nov-09
CASH A/C DOWN 2200
10-Nov-09
MACHINEARY FA UP 7 110000 10-Nov-09
BANK A/C DOWN 110000
15-Nov-09
PURCHASE A/C FOR INVEN 8 355000 15-Nov-09
CASH A/C DOWN 50000
CREDITOR A/C 305000
15-Nov-09DESIGNER A/C 9 10000 15-Nov-09
DEBTORS A/C 10000
20-Nov-09PURCHASE A/C FOR MISC 10 3500 20-Nov-09
CASH A/C DOWN 3500
21-Nov-09RECEIVED ORDER SO NO VALUE TRANS 11 21-Nov-09
22-Nov-09TRAINING A/C 12 2000 22-Nov-09
CASH A/C DOWN 2000
30-Nov-09
CASH A/C UP 13 175000 30-Nov-09RECEIVABLE A/C 175000
SALES A/C 350000
30-Nov-09ELECTRIC EXPENSE 14 21500 30-Nov-09
CASH AC 21500
30-Nov-09LOAN A/C 15 10000 30-Nov-09
BANK AC 10000
SECOND
1-Dec-09SALARY A/C 1 16000 1-Dec-09
CASH AC GUPTA 16000
1-Dec-09
PURCHASE A/C FOR INVEN 2 355000 1-Dec-09
CASH A/C DOWN 50000
CREDITOR A/C GUPTA 305000
9-Dec-09BANK A/C UP 3 175000 9-Dec-09
DEBTORS A/C GAURI 175000
10-Dec-09CASH A/C UP 4 420000 10-Dec-09
SALES A/C RAJAN 420000
18-Dec-09CASH A/C UP 12 385000 18-Dec-09
SALES A/C 385000
JOURNAL ENTERIES PANACHE BOUTIQUE FOR ( 20/10/2009 TO30/11/2009 )
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19-Dec-09PURCHASE A/C EXPENSE 13 5000 19-Dec-09
CASH DOWN GIFT 5000
20-Dec-09CREDITOR A/C 14 10000 20-Dec-09
BANK A/C 105768 10000
21-Dec-09LOAN A/C 15 10000 21-Dec-09
BANK A/C 10000
22-Dec-09CREDITOR A/C 16 500000 22-Dec-09
CASH A/C 500000
23-Dec-09PSEB ELECTRICEXPENSE 17 21500 23-Dec-09
BANK A/C 21500
24-Dec-09
PURCHASE A/C FOR INVEN 18 710000 24-Dec-09
DISCOUNT 71000
CASH AC TOTAL 639000 250000
BANK AC 250000
CREDITOR A/C 139000
31-Dec-09CASH A/C UP 19 840000 31-Dec-09
CREDITOR A/C 840000
THIRD
1-Jan-10CASH UP 1 10000 1-Jan-10
DEBTORS A/C 10000
5-Jan-10CASH UP 2 315000 5-Jan-10
SALES A/C 315000
10-Jan-10CASH UP 3 350000 10-Jan-10
SALES A/C 350000
14-Jan-10PURCHASE AC UP 4 355000 14-Jan-10
CASH DOWN 355000
16-Jan-10
PURCHASE AC EXP 5 25000 16-Jan-10
CASH DOWN 25000
20-Jan-10PURCHASE AC UP 4 355000 20-Jan-10
CASH DOWN 355000
25-Jan-10CASH UP 7 560000 25-Jan-10
SALES 560000
30-Jan-10CREDITOR A/C 8 840000 30-Jan-10
SALES UP 31-Dec-09 840000
31-Jan-10LOAN A/C 9 10000 31-Jan-10
BANK A/C 10000
31-Jan-10PSEB ELECTRICEXPENSE 10 21500 31-Jan-10
BANK A/C 21500
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Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of electricity to run the machines
bought machinery (stiching, cutting machine, embroidery) paid by cheque 105765 write details also
brought stationary and other (pheripheral like scicors, needles etc worth Rs 3500 on cash
training to designer For handling the cutting machines also (mutiple tasking) more effectively paid in cash to trainer.
paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b
SALARY GIVEN TO DESIGNER BY CASH
introduced capital owner equity initial )
bought factory in cash
open A/c with SBI deposited 20000
Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly installment over a feriod of 5 yea
brought furniture on credit from Classic furniture
bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb thread @ 10 per piece , 2500
hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hiring advance given to each 50
received order from a Gauri School for the Anuall function of 200 embroidery suit for childrens
goods delivered to gauri school half payment recived in cash and rest on credit
bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb thread @ 10 per piece , 2500
received remaining payment from Gauri school in bank A|C by wire transfer
sold simple stiched suit 400 nos to Rajan Cloth giant in cash
sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion house (major playewr in the market
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paid for the furniture by cheque -105768
Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b
paid Gupta thread merchant Rs 5 lakh cash
paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
ADVANCE RECEIVED FROM DESIGNERS 10000
SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CASH
SOLD 200 EMB SUIT TO AMBA FASHION IN CASH
PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS 25000
PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
SOLD AMBA FASHION 200 EACH IN CASH
AMBA FASHION SPECIAL ORDER DELIVERED
Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b
paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
As Amba fashion House being the Major Player in this Area, Company decide to give one time gift worth Rs 5000 to
bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mode cash 250000+ bank 25000
due to nexus with Amba Fashion recived order for 300 of each emb and simple suits payment in advance in cash rs
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16000
0
175000
0
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0
5000
10000
10000
500000
21500
0
250000
0
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Capital Account
Tr. No Narratio Amount Tr. No Narratio Amount
CASH Account
Tr. No Narratio Amount Tr. No Narratio Amount
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Cash Account
Tr. N Narration Amount Tr. N Narration Amount
1 To Capital 66000 3 By Computer 55110
5 To Capital 8000 4 By Computer 416
11 To Capital 27000 6 By Computer 7999
26 To Advance 9000 7 By Computer 3107
8 By Salary 1000
9 By Inernet Installation 1000
10 By Security Deposit 2000
12 By Salary 1500
13 By Internet Expenses 850
14 By Salary 1000
15 By Internet Expenses 850
17 By Salary 2000
18 By Internet Expenses 85020 By Internet Expenses 850
21 By training & Develop 15000
22 By Travelling Expenses 1500
23 By Salary 1000
24 By Internet Expenses 850
25 By training & Develop 500
27 By Salary 2000
29 By Internet Expenses 850
31 By Consultancy Exp 5700
33 By Salary 200037 By Salary 2000
By Balance 68
110000 110000
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Ani Inititatives Pvt. Ltd
Trial Balance as on 31-03-07
Particulars Debit Credit
Capital Account 117,000.00
Cash Account 68.00
Bank Account 54,900.00
Computer & Accessories 46,642.00
Salary 10,500.00
Consultancy Income 27,800.00
Internet Expenses 6,100.00
Security Deposit 2,000.00
Advance received 9,000.00
Travelling Expenses 2,500.00
Training and Development Expense 15,500.00Loan Account 4,400.00
Depreciation 19,990.00
158,200.00 158,200.00
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Ani Inititatives Pvt. Ltd
Profit and Loss Account
For the Period ending 31-03-2007
Particulars Amount Particulars Amount
Salary 10,500.00 Consultancy Income 27,800.00
Internet Expenses 6,100.00 By Loss Trf to Balance Sheet 26,790.00
Travelling Expenses 2,500.00
Training and Development Expenses 15,500.00
Depreciation 19,990
54,590.00 54,590.00
Ani Inititatives Pvt. Ltd
Balance Sheet as at 31-03-2007
Assets Amount Liabilities Amount
Cash Account 68.00 Capital Account 117,000.00
Bank Account 54,900.00 Advance received 9,000.00
Computer & Accessories 46,642.00 Loan Account 4,400.00
Security Deposit 2,000.00
Loss not written Off 26,790.00
130,400.00 130,400.00
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140000