Project ON

Comprehensive
Group Members
 Mohit Sharma
 Aayush Sharma
 Aman Kumar Das
 Shekhar Mahato
 Abhijeet Kumar
 Sanket Shrivastav
INTRODUCTIO
N
 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”
Transactions
 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.
 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 Cash withdrawn by the owner : 2,26,000 during the year.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
 Transactions
 Sales return during the year RS.27,000

 Paid to Creditor RS.77,000

 Expanses during the year paid by cheque

I. Electricity Charge: 72,400

II. Rent : 6,00,000
III. Advertisement expanse : 65,000
IV. Internet Charge : 25,000
 Purchase return during the year : RS 5,000
 Receive from debtors during the year : RS.1,15,000
 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

JOURNAL
DATE /
[Link]
Particular l.f DEBIT(DR) CREDIT(CR)
Cash A/C ...Dr 55,00,000
1 To Capital
(Commenced Business with cash) 55,00,000
Bank A/C …Dr 40,00,000
2 To Cash A/C
(Opened a bank account) 40,00,000
Furniture A/C …Dr 1,15,000
3 To Cash A/C
(Purchases Furniture for Shop) 1,15,000
Purchase A/C …Dr 8,23,000
To Cash A/C 2,23,000
4 To Bank A/C
4,45,000
To Creditors A/C
(Purchased Furniture for shop) 1,15,000
Computer A/C …Dr 65,000
5 To Capital A/C
(Computer introduced by owner) 65,000

Cash A/C …Dr

5,62,000
Bank A/C …Dr 15,34,000
6 Debtor A/C …Dr 3,73,000
To Sales A/C 24,69,000
(Sales during the year)
DATE Particular l.f DEBIT(DR) CREDIT(CR)

Salary A/C …Dr 4,80,000

To Cash A/C 96,0000
7 To Bank A/C 3,84,000
(Salary paid during the year)

2,26,000
Drawing A/C …Dr
8 To Cash A/C 2,26,000
(Cash withdrawn by the owner)

37,000
Bad Debts A/C …Dr
9 To Debtors A/C 37,000
(Bad Debts during the year)

27,600
Sales Return A/C …Dr
10 To Cash A/C 27,600
(Sales Return during the year)

Creditor A/C …Dr 77,000

11 To Cash A/C
(Paid to Creditors) 77,000
DATE /
[Link]
Particular l.f DEBIT(DR) CREDIT(CR)

Electricity Charge A/C …Dr 72,400

Rent A/C …Dr 6,00,000
Advertisement A/C …Dr
12 Internet Charge A/C …Dr 65,000
To Bank 35,000
{Expanses during the year} 7,72,000
Cash A/C …Dr 5,000
13 To Purchase
5,000
{ Paid to Creditor}

Cash A/C …Dr

1,15,000
14 To Debtor 1,15,000
{Receive From Debtors during the year}

Drawing A/C …Dr 96,000

15 To Bank 96,000
{Motorcycle bought by Owner }
1,32,000
Insurance Premium A/C …Dr 1,32,000
16 To Bank
{Insurance Premium paid during the year}
DATE Particular l.f DEBIT(DR) CREDIT(CR)

7,000
Cash A/C …Dr
17 To Bad Debts 7,000
{Bad Debts recovered during the year}

3,000
Investment A/C …Dr
18 To Cash 3,000
{Cash given in Charity}

1,17,000
Investment A/C …Dr
19 To bank 1,17,000
{Investment during the Year}

15,000
Bonus A/C …Dr
20 To Cash 15,000
{Bonus given to the employee during the year}
LEDGER
 Cash A/C
Dr Cr
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

 CAPITAL A/C
Dr Cr
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

Sales
Dr A/C Cr
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
 Bank A/C
Dr Cr
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
65,000
12) By Advertisement A/C
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

 Furniture A/C
Dr Cr
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

Computer A/C
Dr Cr
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

 Purchase A/C
Dr Cr
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

Creditors A/C
Dr Cr
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

 Debtor’s A/C
Dr Cr
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

Salary A/C
Dr Cr
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
 Drawing A/C
Dr Cr
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

Bad Debts A/C

Dr Cr
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
 Sales Return
Dr A/C Cr
Date Particular J.F Amount Date Particular J.F Amount
8) To Cash A/C 27,000

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

72,400
 Rent
Dr A/C Cr
Date Particular J.F Amount Date Particular J.F Amount
12) To Bank A/C 6,00,000

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

65,000
 Internet charges
Dr A/C Cr
Date Particular J.F Amount Date Particular J.F Amount
12) To Bank A/C 35,000

35,000
PURCHASE RETURN
Dr A/c Cr
Date Particular J.F Amount Date Particular J.F Amount
13) By Cash A/C 5,000

5,000
 Insurance premium
Dr A/C Cr
Date Particular J.F Amount Date Particular J.F Amount
12) To Bank A/C 1,32,000

1,32,000
Charity
Dr A/c Cr
Date Particular J.F Amount Date Particular J.F Amount
To Cash A/C 3,000

3,000
 Investment
Dr A/C Cr
Date Particular J.F Amount Date Particular J.F Amount
12) To Bank A/C 1,17,000

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

15,000
TRIAL
BALANCE
[Link] 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

[Link] 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

Thank you