105768

1 the company is Panache Boutique and manufactures of designer embriodery Stiched suit and simple stiched suit
2 owner equity is 211536 OE
3 long term loan taken Rs 400000 400000 loan 611536
4 total fixed asset
a sewing machine 4 no's @10000 40000 cash
b embroidary m/c 2 no's @ 15000 30000 cash
c Factory for Rs 100000 100000 cash
d Automatic cutting machine as per 40000 cash
e Furniture 10000 credit
total 220000
5 Scrap Value of fixed assests
a sewing machine 20000 after 5 years
b embroidary m/c 15000 after 5 years
c Factory for 50000 after 5 years
d Automatic cutting machine 20000 after 5 years
e Furniture 5000 after 5 years
6 Depritiation by straight line method @ 12% per annum
a sewing machine 416.6667
b embroidary m/c 312.5
c Factory for 1041.667
d Automatic cutting machine 416.6667
e Furniture 104.1667
7 Normal Raw Material purchased how many unit can be produced by one group purchasing
a cloth@150per meter 2000 300000 500
b Simple thread@2 per 1000 2000 500
c embroidary Thread @1 2500 25000 250 only for embroidery
d (Adjunct rough cloth) 3500 28000 500
total 355000
8 Products
a Simple stiched suit @ 1050 margin on simple suit
340
b Deisgner embroidery St@ 1750 0 margin on emb suit540
9 Cost of production of suits
a Simple stiched suit used per scost qty Unit price
a1 cloth@150per meter 4 600 1000 150 150000
a2 Simple thread@2 per 2 4 500 2 1000
a3 (Adjunct rough cloth) 7 56 1750 8 14000
a4 designing cost @ 50 per suit 50 165000
total 710 checked gross cost 177500
b Deisgner embroidery Stiched suit. qty Unit price
b1 cloth@150per meter 4 600 1000 150 150000
b2 Simple thread@2 per 2 4 500 2 1000
b3 embroidary Thread @1 5 50 2500 10 25000
b4 (Adjunct rough cloth) 7 56 1750 8 14000
b5 designing cost 0 500 500 125000
1210 checked gross cost 315000
10 Average monthly production
a Simple stiched suit 600
b Deisgner embroidery St 550
11 Average Sales per month
a Simple stiched suit 575 25 buffer maintainde per month
b Deisgner embroidery St 525 25
12 All books are mainted on accrual principle
13 Raw Material is valued @ FIFO
14 JIT is followed for the Inventory procurement
suit and simple stiched suits and company sells these to big brand houses in bulk

500

12500
710

12500
500
1260
 Accounting Period
my understanding S.no Date Naration
capital 1 20-Oct-09 introduced capital owner equity initial )
fa 2 25-Oct-09 bought factory in cash
bank 3 25-Oct-09 open A/c with SBI deposited 20000
loan bank 4 30-Oct-09 Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly inst
fa credit 5 31-Oct-09 brought furniture on credit from Classic furniture
exp 6 1-Nov-09 Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of el
FA cheque 7 10-Nov-09 bought machinery (stiching, cutting machine, embroidery) paid by
inventory 8 15-Nov-09 bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb
designer 9 15-Nov-09 hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hir
exp other consumab 10 20-Nov-09 brought stationary and other (pheripheral like scicors, needles e
order 11 21-Nov-09 received order from a Gauri School for the Anuall function of 200 embroidery suit for ch
exp 12 22-Nov-09 training to designer For handling the cutting machines also (mutipl
delivery 13 30-Nov-09 goods delivered to gauri school half payment recived in cash and rest on credit
14 30-Nov-09 paid electricity bill Rs 21500 to Pseb for the month by online pa
15 30-Nov-09 Bank monthly install ment auto deduction by bank throgh net with interest R
SECOND PERIOD( 1-DEC-09 -31-DEC-09)
BALANCE CARRIED FORWARD
1 1-Dec-09 SALARY GIVEN TO DESIGNER
inventory cash and cr 2 1-Dec-09 bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb
3 9-Dec-09 received remaining payment from Gauri school in bank A|C by wire transfer
4 10-Dec-09 sold simple stiched suit 400 nos to Rajan Cloth giant in cash
5 11-Dec-09 due to exigency factory closed for a 7 days-holiday
6 12-Dec-09 holiday
7 13-Dec-09 holiday
8 14-Dec-09 holiday
9 15-Dec-09 holiday (total) scenario) till date is
10 16-Dec-09 holiday
11 17-Dec-09 holiday
12 18-Dec-09 sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion hous
13 19-Dec-09 As Amba fashion House being the Major Player in this Area, Company decide to give o
14 20-Dec-09 paid for the furniture by cheque -105768
15 21-Dec-09 Bank monthly install ment auto deduction by bank throgh net with
16 22-Dec-09 paid Gupta thread merchant Rs 5 lakh cash
17 23-Dec-09 paid electricity bill Rs 21500 to Pseb for the month by online pa
18 24-Dec-09 bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mod

19 31-Dec-09 due to nexus with Amba Fashion recived order for 300 of each emb and simple suits pa

THIRD PERIOD ( 1 JAN 2010 -31ST JAN 2010)

BALANCE CARRIED FORWARD
1 1-Jan-10 ADVANCE RECEIVED FROM DESIGNERS 10000
2 5-Jan-10 SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CREDIT
3 10-Jan-10 SOLD 200 EMB SUIT TO AMBA FASHION IN CASH
4 14-Jan-10 PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
5 16-Jan-10 MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS
6 20-Jan-10 PURCHASED NORMAL RAW MATERIAL WORTH IN CASH
7 25-Jan-10 SOLD AMBA FASHION 200 EACH IN CASH
 8 30-Jan-10 RECIVED PAYABLE FROM RAJAN CLOTH GAINT IN BANK A
9 31-Jan-10 Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per
10 31-Jan-10 paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
 not balance simple
20-Oct-09 bank deductiocash balaloan to b order payable recieveabl advance volume of suit I can make

211536 211536 0 0 0
100000 100000 111536
20000 in bank 20000 91536
400000 420000 91536 440000 400000
10000 10000
2200 2200 89336
110000 310000
355000 50000 39336 305000 250
10000 10000 29336 10000
3500 25836
350000 350000
2000 2000 23836
175000 198836 `-350000 175000 `-200
21500 288500
rogh net with interest R 278500

16000 182836
355000 50000 132836 305000 300
175000 453500 `-175000
420000 552836
300

considered only for invt

453500 234200 552836 not paid azero 610000 zero 10000 300

385000 937836 `-200

5000 5000 932836 100
10000 443500
10000 433500
500000 432836 110000
21500 412000
639000 162000 182836 139000 600
250000 250000
840000 1022836 300

10000 1032836
315000 315000 0
350000 1382836
355000 1027836 250
25000 1002836
355000 647836 500
560000 1207836 200
 315000
rogh net with interest Rs 10000 per month for 5 years b
by online payment by sbi
 emb
volume of suit I can make

250

500

`-400
100

100

`-100
0

500

200

0
250

500
200
 JOURNAL ENTERIES PANACHE BOUTIQUE FOR ( 20/10/2009 TO
30/11/2009 )
Date Explanation Ref no. Dr Cr
CASH UP 1 211536 20-Oct-09
20-Oct-09 CAPITAL UP 211536
FACTORY AS (FA) UP 2 100000 25-Oct-09
25-Oct-09 CASH A/C DOWN 100000
BANK A/C 3 20000 25-Oct-09
25-Oct-09 CASH A/C DOWN 20000
BANK A/C UP 4 400000 30-Oct-09
30-Oct-09 LOAN A/C (liability) 400000
FURNITURE A/C 5 10000 31-Oct-09
31-Oct-09 CREDITOR CLASSIC 10000
PSEB ELECTRIC EQUIPMENT 6 2200 1-Nov-09
1-Nov-09 CASH A/C DOWN 2200
MACHINEARY FA UP 7 110000 ###
10-Nov-09 BANK A/C DOWN 110000
PURCHASE A/C FOR INVEN 8 355000 ###
CASH A/C DOWN 50000
15-Nov-09 CREDITOR A/C 305000
DESIGNER A/C 9 10000 ###
15-Nov-09 DEBTORS A/C 10000
PURCHASE A/C FOR MISC 10 3500 ###
20-Nov-09 CASH A/C DOWN 3500
RECEIVED ORDER SO NO VALUE TRANS 11 ###
21-Nov-09
TRAINING A/C 12 2000 ###
22-Nov-09 CASH A/C DOWN 2000
CASH A/C UP 13 175000 ###
RECEIVABLE A/C 175000
30-Nov-09 SALES A/C 350000
ELECTRIC EXPENSE 14 21500 ###
30-Nov-09 CASH AC 21500
LOAN A/C 15 10000 ###
30-Nov-09 BANK AC 10000

SECOND
SALARY A/C 1 16000 1-Dec-09
1-Dec-09 CASH AC GUPTA 16000
PURCHASE A/C FOR INVEN 2 355000 1-Dec-09
CASH A/C DOWN 50000
1-Dec-09 CREDITOR A/C GUPTA 305000
BANK A/C UP 3 175000 9-Dec-09
9-Dec-09 DEBTORS A/C GAURI 175000
CASH A/C UP 4 420000 ###
10-Dec-09 SALES A/C RAJAN 420000
CASH A/C UP 12 385000 ###
18-Dec-09 SALES A/C 385000
 PURCHASE A/C EXPENSE 13 5000 ###
19-Dec-09 CASH DOWN GIFT 5000
CREDITOR A/C 14 10000 ###
20-Dec-09 BANK A/C 105768 10000
LOAN A/C 15 10000 ###
21-Dec-09 BANK A/C 10000
CREDITOR A/C 16 500000 ###
22-Dec-09 CASH A/C 500000
PSEB ELECTRICEXPENSE 17 21500 ###
23-Dec-09 BANK A/C 21500
PURCHASE A/C FOR INVEN 18 710000 ###
DISCOUNT 71000
CASH AC TOTAL 639000 250000
BANK AC 250000
24-Dec-09 CREDITOR A/C 139000
CASH A/C UP 19 840000 ###
31-Dec-09 CREDITOR A/C 840000

THIRD
CASH UP 1 10000 1-Jan-10
1-Jan-10 DEBTORS A/C 10000
CASH UP 2 315000 5-Jan-10
5-Jan-10 SALES A/C 315000
CASH UP 3 350000 10-Jan-10
10-Jan-10 SALES A/C 350000
PURCHASE AC UP 4 355000 14-Jan-10
14-Jan-10 CASH DOWN 355000
PURCHASE AC EXP 5 25000 16-Jan-10
16-Jan-10 CASH DOWN 25000
PURCHASE AC UP 4 355000 20-Jan-10
20-Jan-10 CASH DOWN 355000
CASH UP 7 560000 25-Jan-10
25-Jan-10 SALES 560000
CREDITOR A/C 8 840000 30-Jan-10
30-Jan-10 SALES UP 31-Dec-09 840000
LOAN A/C 9 10000 31-Jan-10
31-Jan-10 BANK A/C 10000
PSEB ELECTRICEXPENSE 10 21500 31-Jan-10
31-Jan-10 BANK A/C 21500
introduced capital owner equity initial )

bought factory in cash

open A/c with SBI deposited 20000

Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly installment over a feriod of 5 years. Intere

brought furniture on credit from Classic furniture

Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of electricity to run the machines

bought machinery (stiching, cutting machine, embroidery) paid by cheque 105765 write details also

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb thread @ 10 per piece , 2500simple th

hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hiring advance given to each 5000 for 2

brought stationary and other (pheripheral like scicors, needles etc worth Rs 3500 on cash

received order from a Gauri School for the Anuall function of 200 embroidery suit for childrens

training to designer For handling the cutting machines also (mutiple tasking) more effectively paid in cash to trainer.

goods delivered to gauri school half payment recived in cash and rest on credit

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

SALARY GIVEN TO DESIGNER BY CASH

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb thread @ 10 per piece , 2500simple t

received remaining payment from Gauri school in bank A|C by wire transfer

sold simple stiched suit 400 nos to Rajan Cloth giant in cash

sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion house (major playewr in the market)
As Amba fashion House being the Major Player in this Area, Company decide to give one time gift worth Rs 5000 to Amba f

paid for the furniture by cheque -105768

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

paid Gupta thread merchant Rs 5 lakh cash

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi

bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mode cash 250000+ bank 250000 , rest c

due to nexus with Amba Fashion recived order for 300 of each emb and simple suits payment in advance in cash rs

ADVANCE RECEIVED FROM DESIGNERS 10000

SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CASH

SOLD 200 EMB SUIT TO AMBA FASHION IN CASH

PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS 25000

PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

SOLD AMBA FASHION 200 EACH IN CASH

AMBA FASHION SPECIAL ORDER DELIVERED

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
16000
0
175000
0
 0
5000
10000
10000
500000
21500
0
250000
0
 Capital Account
Tr. No NarrationAmount Tr. No NarrationAmount

CASH Account
Tr. No NarrationAmount Tr. No NarrationAmount
 JOURNAL ENTERIES PANACHE BOUTIQUE FOR ( 20/10/2009 TO
30/11/2009 )
Date Explanation Ref no. Dr Cr
CASH UP 1 211536 20-Oct-09
20-Oct-09 CAPITAL UP 211536
FACTORY AS (FA) UP 2 100000 25-Oct-09
25-Oct-09 CASH A/C DOWN 100000
BANK A/C 3 20000 25-Oct-09
25-Oct-09 CASH A/C DOWN 20000
BANK A/C UP 4 400000 30-Oct-09
30-Oct-09 LOAN A/C (liability) 400000
FURNITURE A/C 5 10000 31-Oct-09
31-Oct-09 CREDITOR CLASSIC 10000
PSEB ELECTRIC EQUIPMENT 6 2200 1-Nov-09
1-Nov-09 CASH A/C DOWN 2200
MACHINEARY FA UP 7 110000 ###
10-Nov-09 BANK A/C DOWN 110000
PURCHASE A/C FOR INVEN 8 355000 ###
CASH A/C DOWN 50000
15-Nov-09 CREDITOR A/C 305000
DESIGNER A/C 9 10000 ###
15-Nov-09 DEBTORS A/C 10000
PURCHASE A/C FOR MISC 10 3500 ###
20-Nov-09 CASH A/C DOWN 3500
RECEIVED ORDER SO NO VALUE TRANS 11 ###
21-Nov-09
TRAINING A/C 12 2000 ###
22-Nov-09 CASH A/C DOWN 2000
CASH A/C UP 13 175000 ###
RECEIVABLE A/C 175000
30-Nov-09 SALES A/C 350000
ELECTRIC EXPENSE 14 21500 ###
30-Nov-09 CASH AC 21500
LOAN A/C 15 10000 ###
30-Nov-09 BANK AC 10000

SECOND
SALARY A/C 1 16000 1-Dec-09
1-Dec-09 CASH AC GUPTA 16000
PURCHASE A/C FOR INVEN 2 355000 1-Dec-09
CASH A/C DOWN 50000
1-Dec-09 CREDITOR A/C GUPTA 305000
BANK A/C UP 3 175000 9-Dec-09
9-Dec-09 DEBTORS A/C GAURI 175000
CASH A/C UP 4 420000 ###
10-Dec-09 SALES A/C RAJAN 420000
CASH A/C UP 12 385000 ###
18-Dec-09 SALES A/C 385000
 PURCHASE A/C EXPENSE 13 5000 ###
19-Dec-09 CASH DOWN GIFT 5000
CREDITOR A/C 14 10000 ###
20-Dec-09 BANK A/C 105768 10000
LOAN A/C 15 10000 ###
21-Dec-09 BANK A/C 10000
CREDITOR A/C 16 500000 ###
22-Dec-09 CASH A/C 500000
PSEB ELECTRICEXPENSE 17 21500 ###
23-Dec-09 BANK A/C 21500
PURCHASE A/C FOR INVEN 18 710000 ###
DISCOUNT 71000
CASH AC TOTAL 639000 250000
BANK AC 250000
24-Dec-09 CREDITOR A/C 139000
CASH A/C UP 19 840000 ###
31-Dec-09 CREDITOR A/C 840000

THIRD
CASH UP 1 10000 1-Jan-10
1-Jan-10 DEBTORS A/C 10000
CASH UP 2 315000 5-Jan-10
5-Jan-10 SALES A/C 315000
CASH UP 3 350000 10-Jan-10
10-Jan-10 SALES A/C 350000
PURCHASE AC UP 4 355000 14-Jan-10
14-Jan-10 CASH DOWN 355000
PURCHASE AC EXP 5 25000 16-Jan-10
16-Jan-10 CASH DOWN 25000
PURCHASE AC UP 4 355000 20-Jan-10
20-Jan-10 CASH DOWN 355000
CASH UP 7 560000 25-Jan-10
25-Jan-10 SALES 560000
CREDITOR A/C 8 840000 30-Jan-10
30-Jan-10 SALES UP 31-Dec-09 840000
LOAN A/C 9 10000 31-Jan-10
31-Jan-10 BANK A/C 10000
PSEB ELECTRICEXPENSE 10 21500 31-Jan-10
31-Jan-10 BANK A/C 21500
introduced capital owner equity initial )

bought factory in cash

open A/c with SBI deposited 20000

Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly installment over a feriod of 5 years. Intere

brought furniture on credit from Classic furniture

Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of electricity to run the machines

bought machinery (stiching, cutting machine, embroidery) paid by cheque 105765 write details also

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb thread @ 10 per piece , 2500simple th

hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hiring advance given to each 5000 for 2

brought stationary and other (pheripheral like scicors, needles etc worth Rs 3500 on cash

received order from a Gauri School for the Anuall function of 200 embroidery suit for childrens

training to designer For handling the cutting machines also (mutiple tasking) more effectively paid in cash to trainer.

goods delivered to gauri school half payment recived in cash and rest on credit

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

SALARY GIVEN TO DESIGNER BY CASH

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb thread @ 10 per piece , 2500simple t

received remaining payment from Gauri school in bank A|C by wire transfer

sold simple stiched suit 400 nos to Rajan Cloth giant in cash

sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion house (major playewr in the market)
As Amba fashion House being the Major Player in this Area, Company decide to give one time gift worth Rs 5000 to Amba f

paid for the furniture by cheque -105768

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

paid Gupta thread merchant Rs 5 lakh cash

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi

bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mode cash 250000+ bank 250000 , rest c

due to nexus with Amba Fashion recived order for 300 of each emb and simple suits payment in advance in cash rs

ADVANCE RECEIVED FROM DESIGNERS 10000

SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CASH

SOLD 200 EMB SUIT TO AMBA FASHION IN CASH

PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS 25000

PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

SOLD AMBA FASHION 200 EACH IN CASH

AMBA FASHION SPECIAL ORDER DELIVERED

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi
16000
0
175000
0
 0
5000
10000
10000
500000
21500
0
250000
0
 Capital Account
Tr. No NarrationAmount Tr. No NarrationAmount

CASH Account
Tr. No NarrationAmount Tr. No NarrationAmount
 Cash Account
Tr. NoNarration Amount Tr. NoNarration Amount
1 To Capital 66000 3 By Computer 55110
5 To Capital 8000 4 By Computer 416
11 To Capital 27000 6 By Computer 7999
26 To Advance 9000 7 By Computer 3107
8 By Salary 1000
9 By Inernet Installation 1000
10 By Security Deposit 2000
12 By Salary 1500
13 By Internet Expenses 850
14 By Salary 1000
15 By Internet Expenses 850
17 By Salary 2000
18 By Internet Expenses 850
20 By Internet Expenses 850
21 By training & Develop 15000
22 By Travelling Expenses 1500
23 By Salary 1000
24 By Internet Expenses 850
25 By training & Develop 500
27 By Salary 2000
29 By Internet Expenses 850
31 By Consultancy Exp 5700
33 By Salary 2000
37 By Salary 2000

By Balance 68
110000 110000
 Ani Inititatives Pvt. Ltd
Trial Balance as on 31-03-07

Particulars Debit Credit

Capital Account 117,000.00
Cash Account 68.00
Bank Account 54,900.00
Computer & Accessories 46,642.00
Salary 10,500.00
Consultancy Income 27,800.00
Internet Expenses 6,100.00
Security Deposit 2,000.00
Advance received 9,000.00
Travelling Expenses 2,500.00
Training and Development Expense 15,500.00
Loan Account 4,400.00
Depreciation 19,990.00

158,200.00 158,200.00
 Ani Inititatives Pvt. Ltd
Profit and Loss Account
For the Period ending 31-03-2007
Particulars Amount Particulars Amount
Salary 10,500.00 Consultancy Income 27,800.00
Internet Expenses 6,100.00 By Loss Trf to Balance Sheet 26,790.00
Travelling Expenses 2,500.00
Training and Development Expenses 15,500.00
Depreciation 19,990

54,590.00 54,590.00

Ani Inititatives Pvt. Ltd

Balance Sheet as at 31-03-2007
Assets Amount Liabilities Amount
Cash Account 68.00 Capital Account 117,000.00
Bank Account 54,900.00 Advance received 9,000.00
Computer & Accessories 46,642.00 Loan Account 4,400.00
Security Deposit 2,000.00
Loss not written Off 26,790.00

130,400.00 130,400.00
140000