ANDHERI

Interim Statutory Audit Report Apna Bazar co-op Departmental store
Half year ended-September, 2018 Andheri Departmental Store
APNA BAZAR
ANDHERI DEPARTMENTAL STORE
AUDIT PERIOD 01.04.2018 TO 30.09.2018
INDEX
SR NO. PARTICULARS PAGE NO.
1 Half Yearly performance 2
2 Ratio Analysis 3
3 Half Yearly Comparative Sales 4
Performance
4 Half Yearly Comparative 5
Purchase Performance
5 Half Yearly Comparative 5
Purchase and Sales
Performance
6 Half Yearly Closing Stock 6
Valuation
7 Sales Target, internal Control 6
Compliance, Staff Strength and
Counter Agreement
8 Balance sheet Scrutiny 8
9 Profit & Loss vouching 14
10 Irregularities & Suggestions 17
11 Annexure 18
12 Vote of Thanks 19
Sanjay Rane & Associates

Chartered Accountants Page 1
The Mumbai Kamgar Madhyavarti Grahak Sahakari Sanstha Ltd

Apna Bazar: Andheri Departmental Store
Statutory Audit Report: 01.04.2018 to 30.09.2018
1.0 HALF YEARLY PERFORMANCE :

1.01 Financial Overview:
Particulars Half Year ended Half Year ended Growth
Sept-2018 Sept-2017
(Rs. In % (Rs. In % (Rs. In %
Lakhs) Lakhs) Lakhs)
Sales 1,511.46 100.00 1,581.00 100.00 (69.54) (4.40)
Cost of Sales 1,326.48 87.76 1,377.13 18.11 (50.66) (3.68)
Direct Income 11.68 0.77 16.98 1.07 (5.30) (31.20)
Direct 16.87 1.12 16.94 1.07 (0.07) (0.42)
Expenses
Gross Profit 179.80 11.90 203.91 12.90 (24.11) (11.82)
Indirect 144.55 9.56 166.63 10.54 (22.07) (13.25)
Expenses
Indirect 36.64 2.42 22.32 1.41 14.32 64.17
Income
Net Profit / 71.89 4.76 59.60 3.77 12.29 20.62
(Loss)
Analysis of the above tabulated financials,

 From the above table, it is observed that the Sales have decreased by Rs. 69.54 Lakhs
i.e. 4.40 % as compared to corresponding previous period April 2017 to Sept. 2017.
 However, Purchases for the audit period April 2018 to September 2018 has declined as
compared to corresponding previous period
 The direct expense has reduced by Rs. 0.07 Lakhs i.e. 0.42% as compared to
corresponding previous period.
 However, the direct income has also been reduced by Rs. 5.30 Lakhs i.e. 31.20% as
compared to corresponding previous period. As there was declined in purchases for
the period July 2018 to September 2018 the discount received on such purchases has
also been reduced rapidly. Also income earned from TOT income received has gone
down.
 Also, Gross profit has decreased by Rs. 24.11 Lakhs i.e. 11.82% as compared to
previous period April 2017 to Sept. 2017. This is mainly due to reduction in Direct -

Incomes & Sales. The Cost of Sales has been reduced by Rs. 50.73 Lakhs which is
3.64% of the cost of the period April 2017 to Sept. 2017.
 Net profit has increased by Rs. 12.29 Lakhs i.e. 20.62 % as compared to previous
period April 2017 to Sept. 2017.This is mainly because increase in Indirect Income and
decrease in Indirect Expenses.
 The overall financial performance of the department during the current audit period is
comparatively good, considering the gross profit and net profit of comparative period.
Variations in financial performance can be easily understood by the following

graphical presentation, (y axis reflect INR In lakhs)
10,000.00
1,000.00
100.00 Sep-18
Sep-17
10.00
1.00
Sales Cost of Direct Direct Indirect Indirect
Sales Income Expenses Expenses Income
1.02 Ratio Analysis:

Year ended Year ended
Ratios
September’18 September’17
Stock turnover 14.78 times 10.02 times
Gross Profit Ratio 11.90% 12.90%
Net Profit Ratio 4.76% 3.77%
Observation:
 Stock turnover ratio has increased as compared to corresponding previous period,
which is due to decrease in average stock holding by the department. Excess
inventory in hand lead to inventory carrying cost to the entity.

 Gross profit ratio has decreased to 11.09% from 12.90% during the audit period April
to Sept 2018.
 The Net Profit Ratio has increased as compared to corresponding previous period.
1.03 Half Yearly Comparative Sales Performance:

 Product wise turnover is as follows:
Year ended Year ended Growth
Particulars Sept 2018 Sept 2017
TOTAL SALES 1,511.46 100.00 1,581.00 100.00 (69.54) (4.40)
COUNTERS 19.18 1.27 20.17 1.28 (0.99) (4.90)

GAS CYLINDER 429.19 28.40 456.96 28.90 (27.77) (6.08)
PROVISION 921.06 60.94 960.87 60.78 (39.81) (4.14)
MEDICAL 113.58 7.51 115.02 7.28 -1.44 -1.25
PLASTIC 23.68 1.56 24.14 1.53 -0.55 -2.27
HOSIERY 1.42 0.09 - - 1.42 -
UMBRELLA 3.37 0.22 3.85 0.24 -0.48 -12.54
10000
1000
100
10
Sep-18
1
Sep-17
0.1
0.01

1.04 Half Yearly Comparative Purchase performance:

 Product wise purchase is as follows:
Particulars Year ended Year ended Growth
Sept 2018 Sept 2017
TOTAL (82.31) (5.85)
1,324.73 100 1,407.04 100
PURCHASES
COUNTERS 16.21 1.22 16.61 1.18 (0.41) (2.44)

GAS CYLINDER 398.69 30.10 410.58 29.18 (11.90) (2.90)
PROVISION 795.43 60.04 853.59 60.67 (58.67) (6.81)
MEDICAL 89.16 6.73 103.75 7.37 (14.59) (14.07)
PLASTIC 20.74 1.57 19.28 1.37 1.46 7.55
UMBRELLA 2.89 0.22 3.22 0.23 (0.34) (10.42)
HOSIERY 1.62 0.12 - - 1.62 -
 From the above table it can be seen that Purchases for the audit period April 2018 to
September 2018 has declined by Rs 82.31 lakhs i.e. 5.85% as compared to
corresponding previous period.
Variations in Purchases can be easily understood by the following graphical presentation,
(y axis reflect INR In lakhs)
10,000.00
100.00
Sep-18
Sep-17
1.00

1.05 Half Yearly Comparative purchase & Sales Performance: (Rs. In Lakhs)
Particulars Year ended Sept. 2018 Year ended Sept 2017
Purchase Sales Purchase Sales
COUNTERS 16.21 19.18 16.61 20.17
GAS CYLINDER 398.69 429.19 410.58 456.96
PROVISION 795.43 921.06 853.59 960.87
MEDICAL 89.16 113.58 103.75 115.02
PLASTIC 20.74 23.68 19.28 24.14
HOSIERY 1.62 1.42 - -
UMBRELLA 2.89 3.37 3.22 3.85
TOTAL 1,324.73 1,511.46 1,407.04 1581.00
1.06 Half Yearly Closing stock valuation:

Particulars As on 30th Sept. 2018
Amount (Rs. In
Lakhs)
PROVISION 66.78
MEDICAL 28.70
PLASTIC 6.14
UMBRELLA 0.06
HOSIERY 0.42
DENISH 0.17
TOTAL 102.27
2.00 Sales Target :

 As informed head office had set a target of Rs. 1,813.54 Lakhs for the period ending
30th September 2018; however the department store achieved sales of Rs. 1,511.46
Lakhs, which indicates that department has failed to reach its target. Efforts should
be made to increase sales turnover.
3.00 Internal control & accounting work :

 The entity has internal audit team. The team conducts internal audits on quarterly
basis and submits the report to Head Office.
 Accounting of departmental store is carried out in Tally ERP as well as in SANVIK
software. Purchase Register is maintained in SANVIK software and the balance part
is covered in Tally.
 Entity has appointed a local managing to have a control on the transaction of the
department.

4.00 Compliance:
 Department has sent rectification report to Head Office complying the observation in
the audit report for the period ended 31st March 2018.
5.00 Strength of Staff

 As per information given 65 staff is working at Andheri department (Refer
Annexure 1)
6.00 Counter Agreement :

 Departmental stores has practice of letting out counters for which they charge
commission per month on the basis of sales made during the month or fixed rent
whichever is higher. (Refer Annexure 2)
The deposits received from the parties are transferred to the head office.
 All the counters at Andheri department are in operation.

SCRUTINY OF BALANCE SHEET
7.00 Liability:
7.01 Sundry Creditors – Rs. 1,16,51,350.66/-
 It includes long pending creditor (National Co-op. Cons FED. Of India) amounting to
Rs. 7,245 since April 2015.
 The society must take action against pending balances and clear it earliest.
 Note: Age-wise creditors were not provided for verification.
7.02 Sundry creditors others – Rs. 14,66,434.35/-

 It includes old sundry Creditors as on September 2018 amounting to Rs. 14.66 Lakhs.
 It includes creditors pending since
Pending Since, Date Amount
2011 9,73,329.35
2012 66,639.00
2013 - 2014 4,26,466.00
TOTAL 14,66,434.35
 The society should write back the old balances after prior approval of the
management.
 Age –wise listing was not provided for verification by Sanstha.
7.03 Sundry creditors Expenses – Rs. 2,02,378.00/-

 Followings are the Sundry creditors for expenses.
AMOUNT
Name
(Rs.)
Adroit labels & Technologies 38,067.00
Bright packaging 68,723.00
Coolinghouse corporation 8,320.00
Parijat Floral Library 472.00
Rama Packing Industries 77,644.00
Shakti crafts 2,184.00
Sunidhi Stationary Point 6,530.00
Tata Teleservices(Maharashtra) Ltd. 438.00
TOTAL 2,02,378.00
7.04 Provision for Expenses – Rs. 9,84,722.60/-

AMOUNT
PARTICULARS
(Rs.)
General Expenses 1,34,240.00
Electricity Expenses 2,93,170.00
Housekeeping Expenses 31,883.00
Salary Permanent Employee 3,50,378.60
Salary Temporary Employee 98,532.00
Telephone Expenses 5,828.00
Salary Others- Officers 1,000.00
Sundry Expenses 2,700.00
Salary Others - Staff 900.00
Sundry Expenses - others 498.00
Discount on Yes Bank 8,072.00
Discount on Sodexo Card 5,190.00
Discount - Mobikwik 33.00
Discount - Paytm 146.00
Building Expenses 2,000.00
Property Tax Plot No. OB-2 15,650.00
Water Charges Plot No. OB-2 5,000.00
Staff Lunch Voucher 150.00
Printing & Stationery 1,630.00
Water Charges Plot No. OB-1 11,022.00
Mhada rent plot No 1 & 2 16,700.00
TOTAL 9,84,722.60
 Entity follows mercantile accounting policy for expenses and makes provision for
expenses incurred at the end of the month.
 Journal vouchers are verified along with authorizes supporting and found same in an
order.
7.05 Advance Against Sale- Rs. 1,944.50/-

 The aforesaid amount pertains to opening balance, and as informed the same has been
received before the year 2000-01 and delivery for the same has not been made till date.
 The society should write back the advance received against sale after prior approval of
the management.
7.06 Advance Income- Rs. 8,333.00/-

 Advance income received
7.07 Bank Card extra – Rs. 4,194.00/-

 It was observed that customers swipe bank card for shopping and Head office
recovers the same amount from bank. As per internal chart received from Head
Office, Andheri department has received Rs. 4,194 in excess.
7.08 Deposit Gas – Rs.30,288.00/-

 The aforesaid amount pertains to deposit received from customers against sale of gas
materials which is outstanding since long.
 If the deposit is not payable it should be written off with prior approval of HO.
7.09 Unpaid Salary – Rs. 7,589.00/-

 Salary in respect of following personals remaining unpaid.
Particulars Amount Entry date
Puja Avinash Shinde 832.00 May 16
Aniket Jadhav 2,118.00 May 16
Mrs. Divya Gaonkar 3,283.00 May 17
Rajendra Kuple 1,356.00 Aug 18
TOTAL 7,589.00
7.10 Outstanding Pro Expenses (old)– Rs. 65,067.00/-

 This represents old provision expenses set aside as outstanding. It is shown as
outstanding since 2014.
 If the given expenses are not payable then the same should be write off with prior
approval of management.
7.11 Vishal Chawla (Gas department)– Rs. 5,75,906.45/-

 Society has given HPCL agency to Mr. Vishal Chawla on labour contract basis.
 As per the agreement the society will received Rs. 1.50 Lakhs per month as service
charges. Also the Bank DD charges are borne by Apna Bazar.
8.00 Asset:
8.01 Fixed Asset :
 Asset account is maintained at head office & additions / deletions at branch
transferred at H.O.
8.02 Closing Stock as on 30th Sept. 2018 – Rs. 1,58,44,832.16/-
 It includes :
Particulars Amount (Rs.)
Provision 66,77,992.8

Medical 28,69,756.20
Plastic 6,13,899.00
Umbrella 6,255.90
Hosiery 42,306.30
Denish 17,137.80
Total 102,27,348.00
 Physical verification of stock was carried on 01.07.2018.
8.03 Deposit – Rs. 5,10,909.00/-

 This account consists of deposit paid to various authorities/ entities.(For details refer
Annexure 3)
8.04 Sundry Debtors – Rs. 14,37,990.49/-

 It includes following,
1) Sundry Debtors – Coupons: Rs.1,522.00/-
 Sundry Debtors Coupons include Bombay Samachar Rs. 1,522.00 as on 30 September
2018.
 No long pending balances was observed for Sodexo Coupon & Ticket Restaurant.
 However balance of Bombay Samachar is yet to be received.
2)Sundry Debtors - Institution: Rs. 2,95,899.00/-

 It includes amount receivable from different institutions.
 It includes following,
Particulars Amount
Afcons Infrastucture ltd 1,74,976.00
Elite Distributors 4,800.00
Kvic Departmental canteen 61,818.00
Macleods Pharmaceuticals ltd 16,442.00
UFO moviez India ltd 37,863.00
TOTAL 2,95,899.00
 No long pending entries were observed in the aforesaid account.

3)Sundry Debtors – Bank Card: Rs. 7,46,135.49/-

 The branch has bank cards particularly of UTI bank & Yes bank on which appropriate
charges are deducted by the respective bank.
 The amount to be received from UTI Bank .i.e. Rs. 41,501.12 shown under sundry
debtors is not receivable; hence it is advised that the dept. should write off the said
amount.
4)Sundry Debtors - Card: Rs. 2,07,598.00/-

 It includes sales amount Rs. 2.08 Lakhs to be realized from Sodexo Card issuing
authority.
5)Sundry Debtors – Others: 4,500.00/-

 The amount pertains to the advance paid to the Employee for Ganapati Festival.
 The aforesaid amount is recovered from the salary of the staff within next two
months.
6)Sundry Debtors – Rent: 1,64,372.00/-
 It includes:
Particulars Amount
I Care Optics 35,400
Inclusive Centre of Education 63,012
Baburao Bochare 40,000
Saikripa Enterprise 25,960
TOTAL 1,64,372
7)Sundry Debtors – Mobile Wallet: 17,964.00/-

 It includes:
Particulars Amount
Mobikwik Wallet 3,358
Paytm 14,606
TOTAL 17,964

8.05 Cash in Hand – Rs. 8,41,091.00/-

 Cash was physically verified by H.O. personnel’s as per instruction given by Head
Office as on 30.09.2017, the same tallied with books.
 Cash was physically verified by us on and found in order.
8.06 Bank Accounts – Rs. 85,565.43/-

 Departmental Store has maintained a bank overdraft account with Corporation Bank
having account no. CD/01, separately for Gas department. It consists of debit balance
of Rs. 73,484.76/-
 The store has also maintained an account with Dena Bank. It consists of debit balance
of Rs. 12080.67/-
 Bank balance confirmation for Corporation Bank Bank & Dena Bank has been
received.
 Reconciliation is carried out on monthly basis.
8.07 Packing Material – Rs. 1,18,473.00/-

 It pertains to stock of packing material that was unutilized as on 30.09.2017.
8.08 Prepaid Expenses – Rs. 3,64,210.50/-

 Prepaid expenses pertain to amount paid for license fees.
8.09 Outstanding Electricity Expenses- 21,350.00/-

 It denotes electricity expenses to be received from various counters as per the
agreement.
8.10 Outstanding income – Rs. 1,36,842.00/-

 Income receivable includes demo & display income and counter rent receivables.(For
detail refer Annexure 4)
8.11 Hindustan Petroleum Corp. Ltd. – 4,40,000.00/-

 It pertains to advance payment made towards HPCL for Supply of Gas Cylinders.
8.12 Inter Branch Reconciliation – Rs. 66,81,664.41 Dr/-

 Branch accounts are reconciled as on. 30.09.2018

 For confirmation, department takes signature of the branch in charge of respective

branches or departments along with a stamp on reconciliation statement.
SCRUTINY OF PROFIT & LOSS ACCOUNT:
9.00 DIRECT EXPENSES

9.01 Packing Expenses A/c (Packing Material) – Rs. 2,32,632.18/-
 Expenses account pertains to packing material expenses.
 Packing material expenses has reduced from Rs. 3.11 Lakhs to 2.33 Lakhs during the
audit period.
9.02 Discount Expenses - Rs. 6,55,874.03/-

 It includes
Particulars Amount
Discount on -Sodexo Coupon 6,497
Discount on -Ticket Coupon 1,747
Discount on -Sodexo Card 1,22,771.41
Discount on – Yes Bank 5,20,347.36
Discount on – Paytm 4,270.93
Discount on –Mobikwik 240.33
TOTAL 6,55,874.03
9.03 Other Expenses : Rs. 7,98,588.38/-

 Above amount includes the following head:
Particulars Amount
Purchase Rebate Coupon 22,752.05
Transportation charges 3,532.00
GPRS charges (Yes Bank) 18,909.18
Akshay Coupon HO Charges 16,804.00
APMC Expenses 7,36,591.15
Total 7,98,588.38

10.00 Indirect Expenses

10.01 Salary – Rs. 73,49,523.00/-
 Salary expenses have decreased by Rs. 2.49 Lakhs as compared to period ended
30.09.2017. Salary expenses includes amount of salary of department & salary
appropriation of Head Office.
 Department has a policy of creating additional provision at the rate of 50% of gross
salary and same is transferred to head office as a share of provident fund, E.S.I.C. etc.
10.02 Bank Interest – Rs. 8,75,000.00/-
 Proportionate allocation of bank interest is made by head office which is debited in

this account.
10.03 Advertisement Expenses – Rs. 75,573.00/-

 Department has booked expenses incurred on payment basis & paid at department
level and made further provision @ 0.05% of Sales to Head office as per instruction of
Head Office.
10.04 Rent, Rates, Insurance & Electric charges – Rs. 18,41,418.00/-

 These expenses are related to license expenses, electricity expenses and insurance
charges.
10.05 Repairs & Renovation – Rs. 2,70,180.44/-

 Expenses on account of repairs and renovation have decreased by Rs.0.35 Lakhs as
compared to period ended 30.09.2017
10.06 General expenses – Rs. 3,27,767.39/-

 Department has booked expenses incurred on payment basis & made further
provision @ 0.05% of Sales to Head office as per instruction of Head Office.
10.07 Printing & Stationary – Rs. 2,26,720.00/-

 Expenses on account of Printing & Stationary have increased by Rs. 17,540.30/- as

compared to period ended 30.09.2017
 Department has booked expenses incurred on payment basis & made further
provision @ 0.15% of Sales to Head office as per instruction of Head Office.
10.08 Audit Fees – Rs. 75,573.00/-

 Department has made provision of 0.05% of sales as per instruction of head office for
department share of expenses incurred by head office.
10.09 Depreciation – Rs. 4,35,350.00/-

 Department has policy to book depreciation at 5% less than booked in last year and 10%
on additional fixed asset.
10.10 Bank Charges – Rs. 15,371.00/-

 Bank charges include interest on OD account maintained by branch, same should be
shown separately under Bank Interest.
10.11Building Expenses – Rs. 5,76,149.50/-

 These expenses are related to Mhada maintenence, property tax & water charges.
10.12House Keeping Expenses – Rs. 1,30,670.10/-

 Housekeeping expenses are paid to staff employed on contract basis to maintain the
premises of Apna Bazar.
10.13Telephone Expenses – Rs. 32,345.25/-

 These expenses are related telephone expenses.
10.14Other Expenses – Rs. 22,23,858.41/-

 It includes following expenses:
Meeting Expenses 9,365.00
Consultancy Fees –H.O. 75,573.00
Conveyance & Travelling 8,463.00
Gas Distribution exp 21,30,457.41

Total 22,23,858.41
11.00 Direct Income – Rs. 11,68,302.83/-

 Direct income has decreased by Rs. 5.30 Lakhs as compared to period April ’17 to
September ’17 due to fewer discounts from traders.
12.00 Indirect Income – Rs. 36,64,293.78/-

 Indirect income comprises of the following:
Counter Rent 7,66,129.00
Demo & Display 6,50,802.30
Mango Counter Rent 1,88,000.00
Other Income – Premises 20,05,021.80
Other Income 20,556.74
Ganapati Stage Rent 18,000.00
Other Receipt 15,783.94
Total 36,64,293.78
 Indirect Income has increased by Rs. 14.32 Lakhs as compared to corresponding

previous period.
 Departmental store let out counters to private parties. Consideration for said counters is
either fixed rate per month, or in form of % on sales made during the month.
Department also collects deposits for the same but same is recorded in Head Office.
PART C
IRREGULARITIES & SUGGESTIONS

• Quantity wise details must be entered in the stock inward register. Also, separate
register must be maintained for the movement of inventory from godown to racks for
sale, stating quantitative details, coding and numbering of each & every item.

Annexure 1
Strength of Staff
Particulars No. of employees

Dept. Manager 1
Asst. Manager 1
Godown Keeper 1
Sr. Sub. Accountant 1
Gas Branch Manager 1
I.T Executive 1
Pharmacist 3
Sr. Cashier 2
Cashier 9
Sr. Clerk 1
Clerk 6
Salesman 13
Security Guard 8
Mazdoor 11
Markar 1
Packer 4
SHOP ASS. 1
TOTAL 65
Annexure 2:
Details of Counter agreement & Premises agreement:
SR.
NO PARTY NAME AMOUNT PERIOD REMARK
01.04.2018
Sai krupa The counter has sale
22,000.00(P.M.) + GST to
Enterprises. of Milk and Egg.
1 31.03.2019
01.11.2017
Counter has sale of
I care optics 30,000.00(P.M.) + GST to
specs and goggles.
2 31.10.2018
01.03.2018
740+ 133 GST (Per Counter has sale
Swami atta & foods to
Day) Idlli Dosa.
3 28.02.2019
01.04.2017
Agreement not
Baburao bochare 40,000.00 +GST (P.M.) to
renewed.
4 31.03.2018

11.10.2015
53,400.00 + GST Commercial
KUSH REGENCY to
(P.M.) purpose.
5 10.11.2018
Apna Sahakari Bank
6 Ltd.
Apna Sahakari Bank
7 (ATM)
APNA BANK RENT
(ADD PRIMISES)
Annexure 3:
Details of deposits made:
Particulars Amount in Rs.
Hindustan PetroleumCorp. Ltd 82,000.00
Bombay Soft Drink 4,28,909.00
TOTAL 5,10,909.00
Annexure 4:
Details of outstanding income:
Party Name Particulars Amount (Rs.)
Synergy(India) Marketing Pvt. Ltd TOT charges 25,000
I M Distributors TOT charges 7,719
Texas Corporation TOT charges 61,899
Total 94,618.00

Vote of Thanks:
We express our sincere gratitude for the support & co-operation received from the
manager, the staff and local committee members during the course of audit.
Place: Mumbai for Sanjay Rane & Associates

Date: Chartered Accountants
Partner


ANDHERI

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Interim Statutory Audit Report Apna Bazar co-op Departmental store

Half year ended-September, 2018 Andheri Departmental Store

Sanjay Rane & Associates

The Mumbai Kamgar Madhyavarti Grahak Sahakari Sanstha Ltd

1.0 HALF YEARLY PERFORMANCE :

Analysis of the above tabulated financials,

Sanjay Rane & Associates

Variations in financial performance can be easily understood by the following

1.02 Ratio Analysis:

Sanjay Rane & Associates

1.03 Half Yearly Comparative Sales Performance:

COUNTERS 19.18 1.27 20.17 1.28 (0.99) (4.90)

Sanjay Rane & Associates

1.04 Half Yearly Comparative Purchase performance:

COUNTERS 16.21 1.22 16.61 1.18 (0.41) (2.44)

Sanjay Rane & Associates

TOTAL 1,324.73 1,511.46 1,407.04 1581.00

1.06 Half Yearly Closing stock valuation:

2.00 Sales Target :

3.00 Internal control & accounting work :

Sanjay Rane & Associates

5.00 Strength of Staff

6.00 Counter Agreement :

 All the counters at Andheri department are in operation.

Sanjay Rane & Associates

SCRUTINY OF BALANCE SHEET

7.02 Sundry creditors others – Rs. 14,66,434.35/-

7.03 Sundry creditors Expenses – Rs. 2,02,378.00/-

7.04 Provision for Expenses – Rs. 9,84,722.60/-

Sanjay Rane & Associates

7.05 Advance Against Sale- Rs. 1,944.50/-

7.06 Advance Income- Rs. 8,333.00/-

7.07 Bank Card extra – Rs. 4,194.00/-

Sanjay Rane & Associates

7.08 Deposit Gas – Rs.30,288.00/-

7.09 Unpaid Salary – Rs. 7,589.00/-

7.10 Outstanding Pro Expenses (old)– Rs. 65,067.00/-

7.11 Vishal Chawla (Gas department)– Rs. 5,75,906.45/-

8.02 Closing Stock as on 30th Sept. 2018 – Rs. 1,58,44,832.16/-

Sanjay Rane & Associates

 Physical verification of stock was carried on 01.07.2018.

8.03 Deposit – Rs. 5,10,909.00/-

8.04 Sundry Debtors – Rs. 14,37,990.49/-

2)Sundry Debtors - Institution: Rs. 2,95,899.00/-

 No long pending entries were observed in the aforesaid account.

Sanjay Rane & Associates

3)Sundry Debtors – Bank Card: Rs. 7,46,135.49/-

4)Sundry Debtors - Card: Rs. 2,07,598.00/-

5)Sundry Debtors – Others: 4,500.00/-

7)Sundry Debtors – Mobile Wallet: 17,964.00/-

Sanjay Rane & Associates

8.05 Cash in Hand – Rs. 8,41,091.00/-

8.06 Bank Accounts – Rs. 85,565.43/-

8.07 Packing Material – Rs. 1,18,473.00/-

8.08 Prepaid Expenses – Rs. 3,64,210.50/-

8.09 Outstanding Electricity Expenses- 21,350.00/-

8.10 Outstanding income – Rs. 1,36,842.00/-

8.11 Hindustan Petroleum Corp. Ltd. – 4,40,000.00/-

8.12 Inter Branch Reconciliation – Rs. 66,81,664.41 Dr/-

Sanjay Rane & Associates

 For confirmation, department takes signature of the branch in charge of respective

SCRUTINY OF PROFIT & LOSS ACCOUNT:

9.00 DIRECT EXPENSES