PROJECT WORK It is suggested to …

PROJECT WORK It is suggested to undertake this project after completing the unit on preparation of financial statements. The student(s) will be allowed to select any business of their choice or develop the transaction of imaginary business. The project is to run through the chapters and make the project an interesting process. The amounts should emerge as more realistic and closer to reality, Specific Guidelines for Teachers Give a list of options to the students to select a business form. You can add to the given list: 1. A beauty parlour 2. Men's saloon 3. A tailoring shop A canteen 5. A cake shop 6. A confectionery shop 7. A chocolate shop 8. A dry cleaner 9. A stationery shop 10. Men's wear 11. Ladies wear 12. Kiddies wear 13. A Saree shop 14. Artificial jewellery shop 15. A small restaurant 16. A sweet shop 17. A grocery shop 18. A shoe shop 19. A coffee shop 20. A music shop 21. A juice shop 22. A school canteen. . An ice cream parlour 23 24. A sandwich shop 25. A flower shop After selection, advise the student(s) to visit a shop in the locality (this will help them to settle on a realistic amounts different items. The student(s) would be able to see the things as they need to invest in furniture, decor, lights, machines, computers etc. A suggested list of different item is given below. 1. Rent 2. Advance rent (approximately three months] 3. Electricity deposit 4. Electricity bill 5. Electricity fitting 6. Water bill 7. Water connection security deposit 8. Water fittings 9. Telephone bill 10. Telephone security deposit 12. Furniture 11. Telephone instrument 13. Computers 14. Internet connection 15. Stationery 16. Advertisements 17. Glow sign. 18. Rates and Taxes 19. Wages and Salary 20. Newspaper and magazines. 21. Petty expenses 22. Tea expenses 23. Packaging expenses. 24. Transport 25. Delivery cycle or a vehicle purchased 26. Registration 27. Insurance 28. Auditors fee 29. Repairs & Maintenance 30. Depreciations 31. Air conditioners 32. Fans and lights 33. Interior decorations 34. Refrigerators 35. Purchase and sales At this stage, performas of bulk of originality and ledger may be provided to the students and they may be asked to complete the same. In the next step the students are expected to prepare the trial balance and the financial statements.

Paid cash to kamlesh rs 15000

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

Features of accounting ?

Show the Accounting equation for the following transaction (i)Gopinath started business with cash

Accounting equation practical problem so Accounts

Chapter 3 question number 21

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

What is bad depts and how we can show in journal and ledger

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.