Accounts Comprehensive Project Class 11

Class 11 and 12 Accounts Comprehensive Project (Without GST).

1. Project ON Comprehensive

2. Group Members Mohit Sharma Aayush Sharma Aman Kumar Das Shekhar Mahato Abhijeet Kumar Sanket Shrivastav

3. INTRODUCTION

4. BUSINESS SCENERIO We after completing BBA for Tribhuvan University, has decided to start business of Technical Gadgets. This idea was created by ourselves only because from the childhood we have interest on it , so we choose to open this business. The fund required to open this business were 55,00,000. We had only 50% of amount and the rest were given by parents. We rented a shop in Civil Mall, which is centrally located, at the rate of 50,000/Month. The address of the shop is Kantipath RD , Civil Mall, Kathmandu. We employed one manager and one employee for my shop at the salary: Manager: RS 25,000 Employee: RS 15,000 The name of the firm was decided after consulting the on the Public Demand “ The Gadget Corner”

5. Transactions

6. Transactions Commenced business with cash RS 55,00,000 Opened a current bank account and deposited RS 40,00,000 into it. Purchases Furniture for shop of RS 1,15,000 Goods Purchase during the year RS 8,23,000 Cash : RS 2,23,000 Bank : 4,45,000 Creditor : RS 1,55,000 Computer introduced by the owner of RS 65,000.

7. Transactions Sales of the goods during the year ……. RS 24,69,000 Cash : 5,62,000 Bank : 15,34,000 Creditor: 3,73,000 Salaries paid during year Cash : 96,000 Bank : 3,84,000 Cash withdrawn by the owner : 2,26,000 during the year. Bad Debts during the years RS 37,000

8. Transactions Sales return during the year RS.27,000 Paid to Creditor RS.77,000 Expanses during the year paid by cheque Electricity Charge: 72,400 Rent : 6,00,000 Advertisement expanse : 65,000 Internet Charge : 25,000 Purchase return during the year : RS 5,000 Receive from debtors during the year : RS.1,15,000

9. Transactions Motorcycle bought by owner by cheque and given to friend as gift for RS.96,000 Insurance premium paid during the year : RS 1,32,000 through cheque Bad Debts recover during the Year RS 7,000 Cash given in charity RS.3,000 Investment during the year: RS.1,17,000 through bank. Bonus given to the employee during the year : RS. 15,000

10. JOURNAL

11. DATE / s.NO Particular l.f DEBIT(DR) CREDIT(CR) 1 Cash A/C ...Dr To Capital (Commenced Business with cash) 55,00,000 55,00,000 2 Bank A/C …Dr To Cash A/C (Opened a bank account) 40,00,000 40,00,000 3 Furniture A/C …Dr To Cash A/C (Purchases Furniture for Shop) 1,15,000 1,15,000 4 Purchase A/C …Dr To Cash A/C To Bank A/C To Creditors A/C (Purchased Furniture for shop) 8,23,000 2,23,000 4,45,000 1,15,000 5 Computer A/C …Dr To Capital A/C (Computer introduced by owner) 65,000 65,000 6 Cash A/C …Dr Bank A/C …Dr Debtor A/C …Dr To Sales A/C (Sales during the year) 5,62,000 15,34,000 3,73,000 24,69,000

12. DATE Particular l.f DEBIT(DR) CREDIT(CR) 7 Salary A/C …Dr To Cash A/C To Bank A/C (Salary paid during the year) 4,80,000 96,0000 3,84,000 8 Drawing A/C …Dr To Cash A/C (Cash withdrawn by the owner) 2,26,000 2,26,000 9 Bad Debts A/C …Dr To Debtors A/C (Bad Debts during the year) 37,000 37,000 10 Sales Return A/C …Dr To Cash A/C (Sales Return during the year) 27,600 27,600 11 Creditor A/C …Dr To Cash A/C (Paid to Creditors) 77,000 77,000

13. DATE / s.NO Particular l.f DEBIT(DR) CREDIT(CR) 12 Electricity Charge A/C …Dr Rent A/C …Dr Advertisement A/C …Dr Internet Charge A/C …Dr To Bank {Expanses during the year} 72,400 6,00,000 65,000 35,000 7,72,000 13 Cash A/C …Dr To Purchase { Paid to Creditor} 5,000 5,000 14 Cash A/C …Dr To Debtor {Receive From Debtors during the year} 1,15,000 1,15,000 15 Drawing A/C …Dr To Bank {Motorcycle bought by Owner } 96,000 96,000 16 Insurance Premium A/C …Dr To Bank {Insurance Premium paid during the year} 1,32,000 1,32,000

14. DATE Particular l.f DEBIT(DR) CREDIT(CR) 17 Cash A/C …Dr To Bad Debts {Bad Debts recovered during the year} 7,000 7,000 18 Investment A/C …Dr To Cash {Cash given in Charity} 3,000 3,000 19 Investment A/C …Dr To bank {Investment during the Year} 1,17,000 1,17,000 20 Bonus A/C …Dr To Cash {Bonus given to the employee during the year} 15,000 15,000

15. LEDGER

16. Date Particular J.F Amount Date Particular J.F Amount 1) To Capital A/C 55,00,000 2) By Bank A/C 40,00,000 6) To Sales A/C 5,62,000 3) By Furniture A/C 1,15,000 14) To P/R A/C 5,000 4) By Purchase A/C 2,23,000 17) To Bad Debts A/C 7,000 7) By Salary A/C 96,000 8) By S/R A/C 27,000 11) By Creditor A/C 77,000 18) By Charity A/C 3,000 20) By Bonus A/C 15,000 By Balance C/D 14,06,400 61,89,000 61,89,000 To Balance B/D 14,06,400 Dr Cr Cash A/C

17. Date Particular J.F Amount Date Particular J.F Amount To Balance C/D 55,65,000 1) By Cash A/C 55,00,000 2) By Computer A/C 65,00,000 55,65,000 55,65,000 By Balance B/D 55,65,000 Dr Cr CAPITAL A/C Date Particular J.F Amount Date Particular J.F Amount 6) By Cash A/C 5,62,000 6) By Bank A/C 15,34,000 6) By Debtors A/C 3,73,000 24,64,000 Dr Cr Sales A/C

18. Date Particular J.F Amount Date Particular J.F Amount 2) To Cash A/C 40,00,000 4) By Purchase A/C 4,45,000 6) To Sales A/C 15,34,000 7) By Salary A/C 3,84,000 12) By Electricity A/C 72,400 12) By Rent A/C 6,00,000 12) By Advertisement A/C 65,000 15) By Internet A/C 35,000 16) By Insurance A/C 1,32,000 19) By Investment A/C 1,17,000 55,34,000 55,34,000 To Balance B/D 35,87,600 Dr Cr Bank A/C

19. Date Particular J.F Amount Date Particular J.F Amount 3) To Cash A/C 1,15,000 By Balance C/D 1,15,000 1,15,000 To Balance B/D 1,15,000 Dr Cr Furniture A/C Date Particular J.F Amount Date Particular J.F Amount 5) To Capital A/C 65,000 By Balance C/D 65,000 65,000 To Balance B/D 65,000 Dr Cr Computer A/C

20. Date Particular J.F Amount Date Particular J.F Amount 4) To Cash A/C 2,23,000 By Balance C/D 8,23,000 4) To Bank A/C 4,45,000 4) To Creditor A/C 1,55,000 8,23,000 8,23,000 To Balance B/D 8,23,000 Dr Cr Purchase A/C Date Particular J.F Amount Date Particular J.F Amount 11) To Cash A/C 77,000 4) By Purchase A/C 37,000 By Balance C/D 14) By Cash A/C 1,15,000 By Balance C/D 2,21,000 3,73,000 3,73,000 By Balance B/D 2,21,000 Dr Cr Creditors A/C

21. Date Particular J.F Amount Date Particular J.F Amount 6) To Sales A/C 3,73,000 9) By Bad Debts A/C 37,000 14) By Cash A/C 1,15,000 By Balance C/D 2,21,000 3,73,000 3,73,000 By Balance B/D 2,21,000 Dr Cr Debtor’s A/C Date Particular J.F Amount Date Particular J.F Amount 7) To Cash A/C 96,000 7) To Bank A/C 3,84,000 4,80,000 Dr Cr Salary A/C

22. Date Particular J.F Amount Date Particular J.F Amount 8) To Cash A/C 2,26,000 7) To Bank A/C 96,000 3,22,000 Dr Cr Drawing A/C Date Particular J.F Amount Date Particular J.F Amount 9) To Debtor’s A/C 37,000 17) By Cash A/C 7,000 37,000 7,000 Dr Cr Bad Debts A/C

23. Date Particular J.F Amount Date Particular J.F Amount 8) To Cash A/C 27,000 27,000 Dr Cr Sales Return A/C Date Particular J.F Amount Date Particular J.F Amount 12) To Bank A/C 72,400 72,400 Dr Cr Electricity Charges A/c

24. Date Particular J.F Amount Date Particular J.F Amount 12) To Bank A/C 6,00,000 6,00,000 Dr Cr Rent A/C Date Particular J.F Amount Date Particular J.F Amount 12) To Bank A/C 65,000 65,000 Dr Cr Advertisement A/c

25. Date Particular J.F Amount Date Particular J.F Amount 12) To Bank A/C 35,000 35,000 Dr Cr Internet charges A/C Date Particular J.F Amount Date Particular J.F Amount 13) By Cash A/C 5,000 5,000 Dr Cr PURCHASE RETURN A/c

26. Date Particular J.F Amount Date Particular J.F Amount 12) To Bank A/C 1,32,000 1,32,000 Dr Cr Insurance premium A/C Date Particular J.F Amount Date Particular J.F Amount To Cash A/C 3,000 3,000 Dr Cr Charity A/c

27. Date Particular J.F Amount Date Particular J.F Amount 12) To Bank A/C 1,17,000 1,17,000 Dr Cr Investment A/C Date Particular J.F Amount Date Particular J.F Amount 20) To Cash A/C 15,000 15,000 Dr Cr Bonus A/c

28. TRIAL BALANCE

29. S.no Name of Accounts L.F DEBIT(Dr.) CREDIT(Cr.) 1) Cash A/C 14,06,400 2) Sales A/C 24,69,000 3) Capital A/C 55,65,000 4) Bank A/C 35,87,600 5) Furniture A/C 1,15,000 6) Computer A/C 65,000 7) Purchase A/C 8,23,000 8) Creditors A/C 78,000 9) Debtors A/C 2,21,000 10) Salary A/C 4,80,000 11) Drawing A/C 3,22,000 12) Bad Debts A/C 37,000 7,000 13) Sales Return A/c 27,600 14) Electricity Charge A/C 72,400 15) Rent A/C 6,00,000

30. S.no Name of Accounts L.F DEBIT(Dr.) CREDIT(Cr.) 16) Advertisement A/C 65,000 17) Internet Charge A/C 35,000 18) Purchase Return A/C 5,000 19) Insurance Premium A/C 1,32,000 20) Charity A/C 3,000 21) Investment A/C 1,17,000 22) Bonus A/C 15,000 Totals 81,24,000 81,24,000

31. Thank you