Assignment 8: Indian Electronics
Create Company with following details:
INDIAN ELCTRONICS, 123, S.V. Road, Andheri (W), Mumbai-400058.
Tel.:628 4367/628 4497 Fax: 91-22-628 8490.
I.T. No. IE/515414 S.T. No.400058/S/2650 C.S.T. No. 400058/C/2589. Maintain Accounts with Inventory. Financial Year from 1.4.2016.
Company stores T.V. in Andheri Godown and Refrigerator other goods at Erla Godown.
AUGUST
1. Business Started with Premises worth Rs.2, 00,000/- Computer Rs worth Rs.65000/-,
Cash at Indian Bank Rs.1, 50,000/- and Cash in Hand Rs.1, 00,000/-.
2. Purchased on credit from Bharat Electronics vide invoice no. BE/45:
14” BPL Colour TV 5 pcs @Rs.5, 800/-
20” BPL Colour TV 5 pcs @Rs.9, 850/-
20” Onida Colour TV 5 pcs @Rs. 9, 800/-
14” Onida Colour TV 5 pcs @Rs. 5, 750/-
1. Insurance Premium paid Rs.4, 855/- by Ch.No.411411.
2.
5. Sold on Cash:
14” BPL Colour TV 2 pcs @Rs.7, 200/-
14” Onida Colour TV 2 pcs @Rs.7, 200/-
* Sales amount was deposited into Bank.
7. Furniture Purchased from Decent Interior worth Rs.80, 000/-.
8. Purchased from Western Electronics on credit vide invoice No. WE/121.
165 lt. Godrej Refrigerator 5 pcs @Rs.6, 850/-
165 lt. Voltas Refrigerator 5 pcs @Rs.6, 850/-
300 lt. Godrej Refrigerator 5 pcs @Rs.11, 850/-
300 lt. Voltas Refrigerator 5 pcs @Rs.11, 850/-
10. Sold on credit to Electronic World:
165 lt. Godrej Refrigerator 3 pcs @Rs.9, 750/-
165 lt. Voltas Refrigerator 2 pcs @Rs.9, 750/-
20” Onida Colour TV 5 pcs @Rs.13, 400/-
14” Onida Colour TV 3 pcs @Rs.7, 200/-
300 lt. Voltas Refrigerator 4 pcs @Rs.14, 000/-
12. Advertisement Expenses paid Rs.3, 500/-.
13. Paid to Bharat Electronics in full by Ch. No. 411412.
15. Invested in 9% Railway Bonds Rs.10, 000/- by Ch.No.411413.
16. Sold on credit to King Electronics:
14” BPL Colour TV 3 pcs @Rs.7, 200/-
20” BPL Colour TV 5 pcs @Rs.13, 400/-
165 lt. Godrej Refrigerator 2 pcs @Rs.9, 750/-
165 lt. Voltas Refrigerator 3 pcs @Rs.9, 750/-
300 lt. Godrej Refrigerator 4 pcs @Rs.14, 000/-
17. Courier Charges paid Rs.95/- and Traveling Expenses paid Rs.550/-.
19. Received from Electronic World Rs.1, 93,000/- in full settlement by Ch.No.111444.
20. Paid to Western Electronic in full by Ch.No.411141.
23. Purchased on credit from Bharat Electronics vide Invoice No.BE/65.
14” BPL Colour TV 2 pcs @Rs.5, 800/-
20” BPL Colour TV 6 pcs @Rs.9, 850/-
165 lt. Voltas Refrigerator 5 pcs @Rs.6, 850/-
300 lt. Godrej Refrigerator 3 pcs @Rs.11, 850/-
20” Onida Colour TV | 5 pcs | @Rs.9, 800/- |
14” Onida Colour TV | 10 pcs | @Rs.5, 750/- |
24. Received from Kings Electronics in full by Vh.N.225255.
26. Salaries paid Rs.5, 950/- Electric Bill paid Rs.1, 450/- by Ch.No.411416 and
Telephone bill paid Rs.850/- by Ch.No.411417.
29. Company vacanted Irla Godown and All goods transferred to Andheri Godown.
30. Paid on Account Rs.1, 50,000/- by Ch.No.411418 to Bharat Electronics.
31. Staff Welfare Expenses paid Rs.825/- and Postage paid Rs.45/-.
ANSWER: Net Loss: 1, 88,115/-
