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Navya Goyal asked a question
Subject: Accountancy, asked on on 10/5/17
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Subject: Accountancy, asked on on 11/12/17
Q. Aruna, decided to Start business Of fashion garments under the name Of M/s. Degigner Wear. She had a saving Of  about Rs. 10,00,000. She invested Rs. 3,00,000 out of her savings and borrowed equal amount from State Bank of India. She purchased a commercial space oi 500 sq. feet for Rs. 5,00,000. The space was renovated to make it ready for the business. Balance of Rs. 1,00,000 was used for repair and painting af the  space. Total amount of bank loan is to be repaid in 20 quarterly instalment. beginning 30th June, 2016. Annual Rate Of Interest is 12%. 
Bank loan and interest repaid in the first year are as follows: 
June 30, 2016 = (Rs. 15,000 + Rs. 9,000)  interest) 
Sept. 30, 2016 = (Rs. 15,000 + Rs. 8,550)  interest) 
Dec. 31, 2016 = (Rs. 15,000 + Rs. 8,100)  interest)
March 31, 2017 = (Rs. 15,000 + Rs. 7,650)  interest)   
She started business on 1st April. 2016. In view of further capital requirement She transferred Rs. 1,00,000 from her Savings to the Bank Account to the Bank Acoount Of the business. She paid Security Deposit of Rs. 5,000 for the connection with BSES Rajdhani Power Ltd and Rs. 2,000 to MTNL for telephone connection. Furniture for Rs. 10,000 was purchased.
All payments were be made by cheque. All the receipts were in cash to be deposited in the bank on the same day. At the end of the year, their results showed the following: 
  Rs. 
Total Sales 20,00,000
Total Purchases 17,00,000
Electricity Expenses 40,000
Telephone Charges 50,000
Cartage Outwards 60,000
Travelling Expenses 45,000
Entertainment Expenses 5,000
Maintainance Expenses 25,000
Miscellaneous Expenses 15,000
Electricity Expenses Payable 20,000

 
She withdrew Rs. 5,000 by cheque each month for her personal expenses.
Bank loan was serviced and instalments were paid regularly. 
1. Journalise the above post into the prepare the Trial Balance. 
2. Prepare the Profit and Loss Account and Balance Sheet. Charge depreciation @ 5% on Building and 10%  on Furniture. Closing Stock at the end of the year was Rs. 5,50,000.
3. Prepare a Bar Diagram and/or Pie Charts showing the expenses. 
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Subject: Accountancy, asked on on 7/6/18
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