Aruna, decided to start business of …

Aruna, decided to start business of fashion garments under the name of M/s Designer Wear from 1st April, 2021. She had savings of ₹ 10,00,000. She invested ₹ 3,00,000 out of her savings and also borrowed ₹ 3,00,000 from State Bank of India. She purchased commereial space of 500 sq. feet for ₹ 5,00,000. The space so purchased was suitably a renovated to make it ready as showroom. She purchased furniture and fixtures for ₹ 75,000. Total amount of bank loan is to be repaid in 20 quarterly instalments beginning 30th June, 2021. Annual rate of interest is 12% p.a. Repayment Schedule of Bank Loan in the first year is as follows: Due Date Principal R) InterestR Instalment () June 30, 2021 15,000 9,000 24,000 September 30, 2021 15,000 8550 23,550 December 31, 2021 15,000 8,100 23,100 March 31.2022 15,000 7,650 22,650 She started business on 1st April, 2021 getting it registered under Goods and Services Tax (GST). In view of further capital requirement, she further deposited ₹ 2,00,000 in the bank. She paid Security Deposits of ₹ 5,000 for the electricity connection with BSES Rajdhani Power Ltd. and ₹ 2,000 to MTNL for telephone connection. Furniture for ₹10,000 was purchased further. All payments were to be made by cheque. All the receipts were in cash and to be deposited in the bank in the morning of next day. At the end of the year, her results showed the following: Total Sales Total Purchases Electricity Expenses Telephone Charges Cartage Outwards Travelling Expenses Business Promotion (Restaurant Bill Expenses Maintenance Expenses Miscellaneous Expenses Electricity Expenses Payable She withdrew ₹5.000 by cheque each month for her personal expenses. 20,00,000 17,00,000 -40,000 50,000 60,000 45,000 5,000 25,000 15,000 20,000 1/2 DELHI PUBLIC SCHOOL, SAHARANPUR Class-11th Accountancy Assignment Bank Loan was serviced and instalments were paid regularly. Journalise the above transactions in the books of M/s Designer Wear, post them 1. into the Ledger and prepare the Trial Balance. Also, prepare its Trading Account, Profit & Loss Account and Balance Sheet. Charge

Difference between expenses and expenditure

On 1st may 2020 cash book bank overdraft balance was ₹4000 on depositing ₹20,000 into bank and giving a cheque of ₹14,400 for rent the balance will be

Q43. Vikram Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 1 per share payable as follows: Rs. 3 on Application Rs. 4 on Allotment (including premium) Rs. 2 on First Call Balance when required Applications were collected for 46,000 shares and all of these were accepted. Directors did not make final call. A shareholder holding 800 shares did not pay the (Rs.) pending on first call. The shares were forfeited and re-issued at Rs. 7 per share, Rs. 8 per share paid. Pass Cash Book and Journal Entries

Journal entries of Q 18. Ch 3

sum

Which method is best

The following is the trial balance of Zoya steel ltd. As on 31st March 2018

Kuldeep, general merchant, keeps his accounts on that informatio the results of his business on alat March, 2023 and for that following information is ava 1st April, 2022 (1) 1,50,000 31st March, 2023 1,75,000 Cash in Hand 7,50,000 Bank Balance Furniture Stock 6,50,000 Creditors 3,50,000 Debtors 2.50,000 3,00.005 During the your, he had withdrawn ₹5,00,000 for his personal use and as additional capital. Calculate his profits on 31st March, 2023 and Stateme of Affairs as on that date. invested ₹25000円 (Profit - 74 ,75,000)

Define provision

To know the exact reason leading to net profit or net loss