Assignment 9: Aakash Trading Co.
Create a Company with following details. Aakash Trading co.
Financial Year from 1-4-2016
Books beginning from 1-7-2016
Maintain Account with Inventory
All material is Stored in Bandra Godown.
JULY
1. Business started with cash Rs.1,00,000/- Furniture Rs.50,000/- Plant & Machinery Rs.1,00,000/
2. A Bank account opened in Standard Charted Bank by depositing Rs.1,00,000/-
4. Purchased following goods from Paro Credit.
Shirts Peter England 30 pcs @Rs.400/-
Changes 15 pcs @Rs.400/-
Trouser Newport 20 pcs @Rs.350/-
Shapes 10 pcs @Rs.450/-
6. Purchased following goods on cash.
Shirts | Arrow | 15 pcs | |
| Cambridge | 25 pcs |
8. Following goods Purchased from Paro were returned due to some defects.
Trouser Newport 3 pcs @Rs.350/-
Shirts Peter England 8 pcs @Rs.400/-
15. Banyan Man Sales following goods on credit.
Trouser Newport 10 pcs @Rs.500/-
Shapes 7 pcs @Rs.600/-
Shirts Peter England 10 pcs @Rs.750/-
Cambridge 10 pcs @Rs.600/-
20. Following goods sold to Chooni Baboo n credit.
Shirts Arrow 5 pcs @Rs.600/-
Cambridge 5 pcs @Rs.500/-
Peter England 5 pcs @Rs.650/-
Changes 5 pcs @Rs.500/-
21. Banyan Man returned following goods
Trousers
Newport 3 pcs @Rs.500/-
Shapes 2 pcs @Rs.600/- Shirts
Peter England 3 pcs @Rs.750/-
Cambridge 3 pcs @Rs.400/-
22. Banyan Man ReceivedRs.10, 000/- by Cheque.
23. Paid to Paro in full settlement of her account by chequeRs.25, 000/-.
AUGUST
1. Chooni Baboo Received Rs.11, 000/- by cash in full settlement of his account.
2. Following goods Purchased from Chandra Mookhi on cash.
Shirts | Arrow | 5 pcs | |
| Cambridge | 12 pcs |
| Peter England | 20 pcs |
| @Rs.450/- |
Changes | 5 pcs |
| ||
Trousers | Newport | 5 pcs |
| |
| Shapes | 10 pcs |
| @Rs.420/- |
He allowed Rs.5, 000/- cash discount.
1. New Godown bought at Andheri following stock transferred to Andheri.
Shirts Arrow 5 pcs @Rs.400/-
Cambridge 15 pcs @Rs.400/-
Peter England 15 pcs @Rs.450/-
Changes 5 pcs @Rs.450/-
Trousers Newport 5 pcs @Rs.400/-
Shapes 5 pcs @Rs.400/-
2. Godown Rent paid by Cash. (Use Cost Center)
Bandra: Rs.1, 500/-
Andheri: Rs.2, 500/-
3. *Interest received by Cheque. (Use Cost Center)
ICICI bond: Rs.500/-
Reliance Shares: Rs.2, 500/-
ANSWER: Net Loss: 33,200/-
