On 1st April 2013, Mr.Vishal Rathore started a business of
manufacturing, purchasing and selling furniture for office uses. He
started his business under the name ‘Comfort Furniture House’ with a capital of ₹21,00,000.
He opened a bank account in Axis Bank by depositing ₹14,40,000 in
it. He owned premises in central market for setting his workshop and showroom for furniture business for ₹6,00,000. The payment was
made through cash account.
He managed to get a loan of ₹18,00,000 for this purpose. The loan was repayable with interest of ₹3,60,000 in three yearly installment.
At the end of the first year he has to repay ₹7,80,000 [₹6,00,000 (principal )+ ₹1,80000(interest)].
Vishal purchased manufacturing machines and equipment for
₹24,00,000 .He gave ₹ 6,000 for electricity connection . In this tech
savy world to run a business successfully he purchased computers and mobile phone worth ₹5,85,000 and paid a deposit of ₹ 15,000 with VSNL for internet connection.
He got his business premises
furnished by paying ₹ 1,50,000 for furniture and fixtures. He made
people aware about his Comfort Furniture House by distributing
pamphlets which cost him ₹27,000.
All payments were to be made by cheques .All the receipts were in
cash to be deposited in the bank on the same day. During the year.
The showroom delivered various furniture items to different offices.
At the end of the year the position of his business showed the
following.
Total revenue realised (sale of furniture) ₹29,88,000
Outstanding Electricity charges ₹1,86,000
Telephone charges ₹51,000
Petty expenses ₹72,000
Manufacturing expenses ₹60,000
Maintenance expenses ₹60,000
Purchase of raw material ₹3,30,000
Wages for the craftsmen ₹ 1,89,000
He withdrew ₹36,000 by cheque each month for his household and
personal expenses, At the end of the year he paid instalment of bank
with interest He appointed some craftsmen and salesmen for the
business During the year, salaries outstanding were ₹5,8,000
You are required to prepare:
I. Journalise the above transaction .Post them into ledger and
prepare Trial balance
II. Prepare Trading and Profit Loss Account and Balance sheet
of Vishal Rathore
III. Charge depreciation @25% on equipment and machines,@10%
furniture and fixtures and 5%on business premises.
IV. Prepare a pie /Bar diagram to show the expenses and profit.
Prepare this project roughly and submit me, then I will
explain how to make it final project then will do final
Revise all lessons for final exam.
Answers
Answered by
0
Answer:
hi there I am a girl who is the meaning of plasma membrane and northeast of the class of August organised by the young man hua hai g suite account list of the class of August organised by the young man hua hai Assam India exercise question is about to 200 words and north-east India exercise question is what you know if I am a girl who is the meaning of plasma membrane potential of a year and a report on the other hand the cost of whitewashing the Walls of the class of August organised by the young man hua hai Assam India exercise question
Similar questions