JOURNAL

S No. Date
1
01/01/98 Dr
Cr
2
01/01/98 Dr
Cr
3
01/01/98 Dr
Cr
4
01/01/98 Dr
Cr
5
01/01/98 Dr
Cr
6
01/01/98 Dr
Cr
7
01/01/98 Dr
Cr
8
31/01/98 Dr
Cr
9
31/01/98 Dr
Cr
10 31/01/98 Dr
Dr
Cr
10a 31/01/98 Dr
Cr
11 31/01/98 Dr
Dr
Cr
12 31/01/98 Dr
Cr
13 05/02/98 Dr
Cr
14 12/02/98 Dr
Cr
15 28/02/98 Dr
Cr
16 28/02/98 Dr
Dr
Cr
17 28/02/98 Dr
Cr
18 28/02/98 Dr
Dr
Cr
18a 28/02/98 Dr
Cr
19 12/03/98 Dr
Cr
20 14/03/98 Dr

Cash A/c
to Capital Stock A/c
Security Deposit A/c
to Cash A/c
Interior Decoration A/c
to Cash A/c
Bank A/c
to Cash A/c
Inventory (Books)
Padmalaya A/c
Padmalaya A/c
Bank A/c
Padmalaya A/c
Discount A/c
Utkal A/c
Sale Revenue (Books)
Cost of Good Sold (180000/1.25)
Inventory (Books)
Bank A/c
Misc Expense A/C
Sale Revenue (Books)
Cost of Good Sold (60300/1.25)
Inventory (Books)
Payroll Expense A/c
Capital A/c
Bank A/c
Rent Paid A/c
Bank A/c
Padmalaya A/c
Bank A/c
Inventory (Books)
Granthalaya A/c
Granthalaya A/c
Bank A/c
Payroll Expense A/c
Capital A/c
Bank A/c
Rent Paid A/c
Bank A/c
Bank A/c
Misc Expense A/C
Sale Revenue (Books)
Cost of Good Sold (51480/1.25)
Inventory (Books)
Bank A/c
Utkal A/c
Inventory (Books)

330000
330000
100000
100000
50000
50000
180000
180000
189000
189000
170000
170000
1000
1000
180000
180000
144000
144000
58800
1500
60300
48240
48240
2500
5000
7500
6000
6000
18000
18000
135000
135000
75000
75000
2500
5000
7500
6000
6000
50000
1480
51480
41184
41184
135600
135600
150000

Cr
15/03/98 Dr
Cr
22 15/03/98 Dr
Cr
23 30/03/98 Dr
Dr
Cr
23a 30/03/98 Dr
Cr
24 31/03/98 Dr
Dr
Cr
25 31/03/98 Dr
Cr
26 31/03/98 Dr
Cr
27 03/04/98 Dr
Cr
28 05/04/98 Dr
Cr
29 10/04/98 Dr
Cr
30 15/04/98 Dr
Cr
CLOSING ENTRIES
31 15/04/98 Dr
Cr
Cr
31 15/04/98 Dr
Dr
Dr
Dr
Dr
Cr
32 15/04/98 Dr
Cr
21

Padmalaya A/c
Xavier A/c
Sale Revenue (Books)
Cost of Good Sold (78200/1.25)
Inventory (Books)
Bank A/c
Misc Expense A/C
Sale Revenue (Books)
Cost of Good Sold (61260/1.25)
Inventory (Books)
Payroll Expense A/c
Capital A/c
Bank A/c
Rent Paid A/c
Bank A/c
Padmalaya A/c
Bank A/c
Bank A/c
Xavier A/c
Granthalaya A/c
Bank A/c
Inventory (Books)
Granthalaya A/c
Depreciation Expense
Accumulated Depreciation
PL A/C
Sale Revenue (Books)
Discount A/c
Cost Of Goods Sold
Payroll Expense A/c
Rent Paid A/c
Misc Expense A/C
Depreciation Expense
PL A/C
PL A/C
Retained Earnings

150000
78200
78200
62560
62560
60000
1260
61260
49008
49008
2500
2500
5000
6000
6000
80000
80000
50000
50000
60000
60000
25000
25000
1458.3
1458.3
496790
495790
1000
387980
7500
18000
4240
1458.3
419178.3
77611.7
77611.7

LEDGER

1 Balance

4
10
18
19
23
27

5
14
20
29

Cash A/c (A)

Dr (+)
Cr (-)
330000
100000
50000
180000
0
330000
330000

2
3
4

Security Deposit A/c (A)

Dr (+)
Cr (-)
100000
100000 2Balance
100000
100000
Interior Decoration A/c (A)
Dr (+)
Cr (-)
50000
50000 3Balance
50000
50000
Bank A/c (A)
Dr (+)
Cr (-)
180000
170000
6
58800
7500
11
50000
6000
12
135600
18000
13
60000
75000
15
50000
7500
16
6000
17
5000
24
6000
25
80000
26
60000
28
93400 4 Balance
534400
534400
Inventory (Books) A/c (A)
Dr (+)
Cr (-)
189000
144000
9
135000
62560
22
150000
48240
10a
25000
41184
18a
49008
23a
154008 5 Balance
499000
499000

11
17
24
8 Balance

6
7
13
26
9 Balance

Capital Acc. (C)

Dr (-)
Cr (+)
5000
330000
5000
2500
317500
330000
330000

Padmalaya A/c
Dr (-)
Cr (+)
170000
189000
1000
150000
18000
80000
70000
339000
339000
Discount A/c (R)
Dr (-)
Cr (+)
1000
1000
1000
1000

to PL A/c

5
20

Utkal A/c
Dr (+)
Cr (-)
180000
135600
19
44400 10 Balance
180000
180000

Sales Revenue A/c (R)

Dr (-)
Cr (+)
180000
60300
51480
78200
to PL A/c
431240
61260
431240
431240

9
22
10a

Cost of good sold A/c (E)

Dr (+)
Cr (-)
144000
62560
48240

8
10
18
21
23

15
28
6 Balance

21

Granthalaya A/c
Dr (-)
Cr (+)
75000
135000
60000
25000
25000
160000
160000

18a
23a
14
29

Xavier A/c
Dr (+)
Cr (-)
78200
50000
28
28200 7 Balance
78200
78200

Accumulated Depreciation A/c (A)

Dr (+)
Cr (-)
1458.3
30
30 Balance
1458.3
1458.3
1458.3

10
18
23

11
16
24

12
17
25

41184
49008
344992

344992 to PL A/c
344992

Misc Expense A/c (E)

Dr (+)
Cr (-)
1500
1480
1260
4240 to PL A/c
4240
4240
Payroll Expense A/c (E)
Dr (+)
Cr (-)
2500
2500
2500
7500 to PL A/c
7500
7500
Rent Expense A/c (E)
Dr (+)
Cr (-)
6000
6000
6000
18000 to PL A/c
18000
18000

Depreciation Expense A/c (E)

Dr (+)
Cr (-)
30
1458.3
1458.3 to PL A/c
1458.3
1458.3

10 Balance

Trial Balance Sheet -- 15th April 1998

Dr

Cr

Cash
Security Deposit
Interior Decoration
Bank A/C
Inventory
Ghranthalaya
Xavier
Capital
Padmalaya
Utkal
Acumulated Depreciation

0
100000
50000
93400
154008

Retained Earnings

56049.7 PL A/C
470008 470008

25000
28200
317500
70000
44400
1458.3

P&L ACCOUNT - 1st Jan to 15th Apr 1998

Revenues
Discount
Sale Revenue
Expenses
Cost of Goods Sold
Rent
Pay roll
Misc Expence
EBITDA
Depreciation
EBIT

1000
431240
432240
344992
18000
7500
4240
374732

57508
1458.3

56049.7

Balance Sheet - 15th April 1998

Owner's Capital
Suvam's Capital
317500
Retained Earnings
56049.7
Liabilities
Accounts Payable
95000

468549.7

Assets
Current Assets
Cash
Bank A/C
Inventory
Accounts Recievable
Non Current Assets
Security Deposit
Interior Decoration
Accumulated Depreciation

0
93400
154008
72600
100000
50000
-1458.3
468549.7

Group 7
26NMP10
26NMP26
26NMP33
26NMP35
26NMP53
26NMP58

Swaraj Mallick
Jewel Christy Jose
Piyush Monga
Prashant Singh
Shiv Bhavan
Vikas Bhardwaj