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TOUCHWOOD

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SOLE PROPERITOR: Raj Aggarwal

TYPE OF BUSINESS: Plywood & Furniture.

TIN

NUMBER: 000A0B0C0D NUMBER: 1233212321 ELECTRONIC CITY, PHASE 1, OPP. TO INFOSYS GATE NO. 3.

LICENCE

LOCATION:

Transactions For The month of July 2010

o

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July1 - Aggarwal started the business with capital of Rs 1,000,000. July 2 - Borrowed loan from IOB of Rs 300,000. July 3 - Borrowed money from Jain Rs 200,000. July 4 - Purchased equipment for Rs 300,000. July 5 - Purchased land and building Rs 500,000. July 6 - Purchased delivery truck Rs 200,000. July 7 - Purchased office computer from HP for cash Rs 50,000. July 9 - Purchased raw materials from Raj & Co. Rs 100,000.

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July 11-Paid freight charges for purchase made on july 9, Rs 5000 July 15-Goods sold to Babin enterprises for cash 40,000 July 17-Sold goods to Gupta traders on credit Rs 51,000 July 23-Received cash from Gupta traders 50000 for the sales made on july 17 July 24-Paid cash to Raj & co for the purchase made on July 9. July 24-Purchased goods from Vivek & Co for cash 100,000.

Journal for the month of July 2010 Date

JULY 1

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Particulars
Cash A/c To Capitals A/c (Being Capital invested) dr

Debit Credit
1,000,000 100,000

JULY 2

Cash A/c To Bank Loan A/c (Being loan Taken from IOB) Cash A/c To Jain A/c (Being cash borrowed) Equipment A/c To Cash A/c (Being Equipment purchased) Land & Building A/c To Cash A/c (Being land & building purchased)

dr

300,000 300,000

JULY 3

dr

200,000 200,000

JULY 4

dr

300,000 300,000

JULY 5

dr

500,000 500,000

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Date JULY 7

Particulars Computer A/c To Cash (Being Computer purchased) dr

Debit 50,000

Credit

50,000 100,000 100,000 10,000 10,000

JULY 9

Purchase A/c dr To Raj & Co. (Beings goods purchased on credit) Advertisement Expense A/c To Cash A/c (Being Advertisement expenses incurred) Loose Tools A/c To Cash (Being loose tools Purchased) Freight Charges A/c To Cash (Being freight charges paid) dr

JULY 9

JULY 10

dr

20,000 20,000

JULY 11

dr

5,000

5,000

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Date
JULY 15

Particulars
Cash A/c To Sales A/c (Being goods sold for cash) dr

Debit Credit
40,000 40,000

JULY 17

Gupta Trader A/c dr To SalesA/c (Being goods sold on credit) Cash A/c Discount A/c dr To Gupta Traders A/c (Being cash received and discount allowed) Raj & Co A/c dr To Cash A/c (Being cash paid) Purchase A/c dr dr

51,000 51,000 50,000 1,000 51,000

JULY 23

JULY 24

100,000 100,000 100,000 100,000

JULY 24

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Date
JULY 25

Particulars
Insurance A/c dr To Cash A/c (Being Insurance Premium paid) Cash A/c dr Discount A/c dr To Sales A/c (Being goods sold for cash and allowed discount) Wages A/c dr Electricity Bill a/c dr Fuel A/c dr Telephone Bill A/c dr Warehouse Rent A/c dr

Debit Credit
10,000 10,000 80,000 2,000 82,000

JULY 27

JULY 28

10,000 2,000 3,000 1,000 4,000

20,000

Ledger for the month of july 2010

dr
Date cr July 1 July 2 July 3 July 15 July 23 July 27 July 30 Particulars To Capital A/c To Bank Loan A/c To Jain A/c To Sales A/c To Gupta Trader A/c To Sales A/c To Sales A/c

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Cash Account
Amount 1,000,000 300,000 200,000 40,000 50,000 80,000 50,000 Date July 4 July 5 July 6 July 7 July 9 July 10 July 11 July 24 July 24 July 25 July 28 July 28 July 28 July 28 July 28 Particulars By Equipment A/c By Land & Building A/c By Trucks A/c By Computers A/c By Advertisement A/c By Tools A/c By Freight A/c By Raj & Co A/c By Purchase A/c By Insurance A/c By Wages A/c By Electricity Bill A/c BY Fuel A/c By Telephone Bill A/c By Warehouse Rent A/c Amount 300,000 500,000 200,000 50,000 10,000 20,000 5,000 100,000 100,000 10,000 10,000 2,000 3,000 1,000 4,000

dr
Date

Capital Account
cr
Particulars
To Balance c/d

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Amount

Date

Particulars
By Cash A/c

Amount
10,000,000

July 31

10,000,000 July 1

10,000,000 Aug 1 To Balance b/d

10,000,00 10,000,000

Date
July 31 dr cr

Particulars
To Balance c/d

Amount
300,000

Date
July 2

Particulars
By cash A/c

Amount
300,000

Bank Loan Account

300,000 Aug 1 To Balance b/d

300,000 300,000

Date

Particulars

Amount
200,000

Date
July 3

Particular
By Cash A/c
cr

Amount
200,000

July 31
dr

To Balance

Jains Account
200,000

200,000
Aug 1 To balance b/d 200,000