man acc assignment

7/29/2019 Man Acc Assignment

1/20

Dr Cr

Cash A/c Dr Rs. 270,000

To Capital Cr Rs. 270,000

Land Dr Rs. 50,000

To Capital Cr Rs. 50,000

Shed Dr Rs. 100,000

to cash Cr Rs. 100,000

Electrical Fitting Dr Rs. 10,000


F&F Dr Rs. 15,000


Machines a/c Dr Rs. 40,000


Tools Dr Rs. 5,000


Deposit with Bike M/s Dr Rs. 100,000


Purcahses A/c Dr Rs. 1,200,000

to Creditors Cr Rs. 1,200,000

Cash A/c Dr Rs. 1,260,000

to sales Cr Rs. 1,260,000


to services Cr Rs. 25,000

Electricity Dr Rs. 12,000

to cash Cr Rs. 12,000Depriation Dr Rs. 16,500

to shed

to elec fit

to f&F

toM/c

Closing Stock A/c Dr Rs. 120,000

to P/L A/c Cr Rs. 120,000

Creditors A/c Dr Rs. 1,200,000

to Cash Cr Rs. 1,200,000

Rs. 16,500

Journal Entry


2/20


3/20

Capital Land Rs. 50,000

Owner's Capital Rs. 320,000 Shed Rs. 100,000

(-)Depreciation -Rs. 10,000 Rs. 90,000Reatained earnings Rs. 171,500 Electrical Fitting Rs. 10,000

(-)Depreciation -Rs. 1,000 Rs. 9,000

F&F Rs. 15,000

Creditors Rs. 1,200,000 (-)Depreciation -Rs. 1,500 Rs. 13,500

Creditors paid -Rs. 1,200,000 Rs. 0 Machine Rs. 40,000

(-)Depreciation -Rs. 4,000 Rs. 36,000

Tools Rs. 5,000

(-) W/D -Rs. 5,000 Rs. 0

Deposit with M/s Rs. 100,000

Inventory Rs. 120,000

Cash Rs. 73,000

Total Liabilities Rs. 491,500 Total Assets Rs. 491,500

Balance Sheet

Laibilities Assets


4/20


5/20

To purchases Rs. 1,200,000 By sales Rs. 1,260,000

To electricty Rs. 12,000 By Services Rs. 25,000

to Depreciation Rs. 16,500

to tool written off Rs. 5,000 By closing stock Rs. 120,000

Profit Rs. 171,500

Rs. 1,405,000 Rs. 1,405,000

P/L

Expenses Income


6/20


7/20

Dr Cr

To Capital Rs. 270,000 By Shed Rs. 100,000

to sales Rs. 1,260,000 BY Electrical Fitting Rs. 10,000

to services Rs. 25,000 By F&F Rs. 15,000

By Machine Rs. 40,000

BY Tools Rs. 5,000By deposit Rs. 100,000

By electricity Rs. 12,000

By creditors Rs. 1,200,000

By balance carried

down (c/d) Rs. 73,000

Rs. 1,555,000 Rs. 1,555,000

Cash Account


8/20

Dr Cr

Goodwill Account Dr Rs. 101,500

to partner's capital Rs. 101,500

Purchases A/c Dr Rs. 1,200,000

to credtors Rs. 1,200,000

Cash A/c Dr Rs. 1,260,000

to sales Rs. 1,260,000

Cash A/c dr Rs. 20,000

to services Rs. 20,000

Accounts Receivable dr Rs. 5,000


Closing Stock A/c Dr Rs. 240,000

to P/L A/c Rs. 240,000

Electricity Expenses Dr Rs. 12,000

to Cash Rs. 12,000

Depriation Dr Rs. 18,563

to shed Rs. 11,250

to elec fit Rs. 1,125

to f&F Rs. 1,688.00

toM/c Rs. 4,500


to machineary a/c Rs. 31,500

to profit on sales of machineray Rs. 3,500Cash A/c Dr Rs. 5,000

to F&F a/c Rs. 11,812

to Loss om sales of F&F Rs. 6,812


to debtors for service calls Rs. 2,500

Creditors A/c Dr Rs. 1,200,000

to cash Rs. 1,200,000

Journal Entry


9/20


10/20

Capital

Owner's Capital Rs. 320,000

(+) Goodwill Rs. 101,500 Rs. 421,500

Reatained earnings Rs. 171,500

(+) Earning of this year Rs. 158,438 Rs. 329,938

Creditors Rs. 1,200,000

(-) Creditors paid -Rs. 1,200,000 Rs. 0

Total Liabilities Rs. 751,438

Balance

Laibilities


11/20


12/20

Goodwill Rs. 101,500

(-) Amortized -Rs. 12,688 Rs. 88,813 To opening stock

Land Rs. 50,000 To purchases

Shed Rs. 90,000 To electricity

(-)Depreciation -Rs. 11,250 Rs. 78,750 to depreciation

Electrical Fitting Rs. 9,000

to losses on sale of

F&F

(-)Depreciation -Rs. 1,125 Rs. 7,875 to amortization

F&F Rs. 13,500

(-)Depreciation -Rs. 1,688.00 Net Profit

(-) Sales -Rs. 11,812 Rs. 0

Machine Rs. 36,000

(-)Depreciation -Rs. 4,500

(-) sales -Rs. 31,500 Rs. 0

Deposit with M/s Rs. 100,000

Inventory Rs. 240,000

Debtors for services provided Rs. 5,000

(-) Debtors paid -Rs. 2,500 Rs. 2,500

Cash carried down Rs. 183,500

Total Assets Rs. 751,438

Sales (Revenue)

Cost of Sales

Opening Stock

(+) Purchases

(-) Closing Stock

Gross Margin

Operating Income

(-) Operating Expen

EBIDTA (Operating

Profit)

Non operating inco

(-)Non Operating Ex

Net Income

Sheet

Assets E


13/20

(-) Dividend

Reatained Earnings


14/20

Rs. 120,000 By Sales Rs. 1,260,000

Rs. 1,200,000 By closing stock Rs. 240,000

Rs. 12,000 By services Rs. 25,000

Rs. 18,563

by profit onsales of

machines Rs. 3,500

Rs. 6,812

Rs. 12,688

Rs. 158,438

Rs. 1,528,500 Rs. 1,528,500

Rs. 1,260,000

Rs. 1,080,000

Rs. 120,000

Rs. 1,200,000

-Rs. 240,000

Rs. 180,000

Rs. 25,000

-Rs. 12,000

Rs. 193,000

Rs. 3,500

-Rs. 38,063

Rs. 158,438

Income Statement

P/L

penses Income


15/20

NIL

Rs. 158,438


16/20


17/20

125

Date Dr Cr

4/1/2009 Cash A/c Dr Rs. 125,000

to capital Rs. 125,000

Dispensary Items Dr Rs. 62,500

to cash Rs. 62,500

Equipment Rs. 250to cash Rs. 250


Debtor A/c Dr Rs. 6,250


Bad Debt A/c Dr Rs. 3,125

to debtors Rs. 3,125

Salary A/c Dr Rs. 2,400

to cash a/c Rs. 2,400

Electricity A/c Dr Rs. 1,200

to Cash Rs. 1,100

to O/S Payments Rs. 100

Closing Stock Dr Rs. 31,250

to P/L A/c Rs. 31,250

Closing Stock Dr Rs. 15,625

to written off Rs. 15,625

Journal Entry


18/20

Owners Capital Rs. 125,000 Equipment Rs. 250

Debtors Rs. 6,250

(-) Bad Debts -Rs. 3,125

O/S (Elec Expenses) Rs. 100 Closing Stock Rs. 15,625

Retained earnings Rs. 26,400 Cash Rs. 132,500

Toat Liabilities Rs. 151,500 Total Assets Rs. 151,500

Salary 36000

Earning on interest Rs. 3,125

Total Amount Rs. 39,125

Balance Sheet

Laibilities Assets


19/20

To purchases Rs. 62,500 By services 80000

To bad debts Rs. 3,125 By Closing Stock Rs. 31,250

To salary Rs. 2,400 (-) Written off -Rs. 15,625

To electricity Rs. 1,200Rs. 15,625

Profit Rs. 26,400

Total expenses Rs. 95,625 Total income Rs. 95,625

P/L

Expenses Income


20/20

Dr Cr

To capital Rs. 125,000 By purchases Rs. 62,500

To services 73750 By equipment 250

By salary Rs. 2,400

By electricity Rs. 1,100Cash C/D Rs. 132,500

Rs. 198,750 Rs. 198,750

Cash Account

man acc assignment

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