1.
©Copyright Akhil
Akhil Khanna
863
5.1 (A)
PROJECT ON FINANCIAL
ACCOUNTING

2.
©Copyright Akhil
 JOURNAL
 LEDGER
 TRIAL BALANCE
 TRADING & PROFIT & LOSS ACCOUNT
 BALANCE SHEET

3.
©Copyright Akhil
TRANSACTIONS
Mr H.s Kochar decided to start a TRAVEL WORLD business named
SAMSONITE Sales(p) ltd. A Trading Company On 1st
April 2002 he invested a
sum amount of ` 4,80,000 for this purpose ,he took a building costing ` 4,00,000
and spent`1,00,000 for its overhaul interior and fittings separately to purchase
the opening stock which is almost amounted to `1,80,000 he appointed ICICI
Bank and secured loan to the extent of 75% of the cost of stock It was agreed
that the loan will be repaid I four equal instalment as follows
At the end of 1st
year: `90,000+`36,000 for the interest
At the end of 2nd
year: `90,000+`27000 for the interest
At the end of 3rd
year: `90,000+`18,000 for the interest
At the end of 4th
year `90,000+`9,000 for the interest
After commencing the TRAVEL WORD on 1st
April, 2002 he had spent some
amount
Of 10,000 for electric fittings on 5th
April 2002 and on 16th
April he placed on
fixed deposit amount at bank by transferring from current account `100,000. on
18th
April he spent `40,000 for getting pamphlets printed and distributed. on 18th
April goods costing` 20,000 were Sold To Mr. kapoor at 40% trade discount on
10th
July 2002 goods of` 500 were returned to Mr. Kapoor on 19th
July 2002.
Transportation charges for `100 octroi `150 was paid in cash on 28th
July 2002
trade expense charged paid in cash `500. On 30th
July 2002 miscellaneous
expenses charged for newspaper, tea, coffee etc` 800. on 15th
September 2002
for `10,000 furniture purchased bags from company for `5,000 on 1 October
2002 on credit on 10 October 2002 was made by cheque for` 800 was issued to
petty cashier on 1st
November 2002 and on 1st December 2002 the company
gave 10% commission on sales up to` 4 lakhs on 15th
January 2003 Mr. kapoor
who owned us `10,000 were declared insolvent and 25 paisa in a rupee is
received at the end of year i.e. on 31st
march 2003 interest o loan is paid
deprecation on building at 20% on` 4,00,000 salary paid to employees 10,000
cash sales for `4,00,000 on credit to debtors who paid` 90,000 cash and rest
`80,000 are debtors

4.
©Copyright Akhil
Journal is a book of original entry in which the transactions are recorded are
recorded first of all as and when they take place .Transactions are originally
recorded in a chronological order according to the principles of double entry
system.
Features of Journal
 A journal records both debit and credit aspects of a transactions according to the
double entry system of book keeping
 Each entry in a journal is followed by a brief explanation of the transaction which is
called ‘’Narration’’
 A single entry is capable of recording more than one transaction involving more than
two accounts .such an entry is called compound entry
 It provides a basis for posting into ledger
 It maintains a identity of each transaction by keeping a complete record of each
transaction at one place on a permanent basis.

5.
©Copyright Akhil
DATE
2002
April 1st
April 1st
April 5th
April 16th
April 18th
April 18th
April 28th
April 30th
May 1st
May 5th
May 8th
PARTICULAR
Cash A/c Dr.
Stock A/c Dr.
Building A/c Dr.
To Capital A/c
(commencement Of Business )
Furniture and Fitting A/c Dr.
To Cash A/c
(Interior furniture & Fitting for the office )
Electric Fittings A/c Dr.
To cash A/c
(Electric Fitting for the Office)
Fixed Deposit A/c Dr.
To Bank A/c
(Fixed Deposit By the Bank)
Advertisement Expense A/c Dr.
To Cash A/c
(Pamphlets Printed & Distributed)
Cash A/c Dr.
Discount Allowed A/c Dr.
To Sales A/c
(Cash Sales At 30% profit & 10% cash Discount)
Purchases A/c Dr.
To Bank A/c
(Purchases Being Made By Bank)
Bank A/c Dr.
To Purchases Return A/c
(Goods returned and payment to bank)
Bank A/c Dr.
To Cash A/c
(Deposited Cash into bank)
Loss by Theft A/c Dr.
To Purchases A/c
To Cash A/c
( Goods And Cash being loss by theft)
Bank Charges A/c Dr.
To Bank A/c
(Bank Charges By Bank )
Carried Forward
L.F AMOUNT(`)
3,00,000
4,80,000
4,00,000
1,00,000
10,000
1,00,000
40,000
23,400
2600
72,000
9,000
1,80,000
15,000
50
17,32,050
AMOUNT(`)
11,80,000
1,00,000
10,000
1,00,000
40,000
26,000
72,000
9,000
1,80,000
5,000
10,000
50
17,32,050

6.
©Copyright Akhil
DATE
2002
May 10th
May 10th
May 15th
May 20th
May 21st
May 30th
June 5th
June 5th
June 12th
July 7th
July 10th
PARTICULAR
Brought Forward
Investment A/c Dr.
To Cash A/c
(Investment in Reliance Shares)
Salary A/c Dr.
To Cash A/c
(Salary Being Paid in Cash)
Bank A/c Dr.
Discount Allowed A/c Dr.
To Sales A/c
(Being Sales made at 10% T.D & 500 C.D)
Drawings A/c Dr.
To Cash A/c
(Withdrawn for Life Insurance)
Drawings A/c Dr.
To Bank A/c
(Being Income Tax paid)
Interest A/c Dr.
To Bank A/c
(Interest Charged By bank )
Drawings A/c Dr.
To Purchases A/c
(Goods Withdrawn for Personal Use)
Cash A/c Dr.
To Sales A/c
(Being Sales Made on Car)
Advertising Expenses A/c Dr.
To Bank A/c
(Advertising Expenses Paid By Cheque)
Mr. Kapoor A/c Dr.
To Sales A/c
(Goods sold on credit at 10% trade discount)
Sales Return A/c Dr.
To Mr. Kapoor A/c
(Goods of list price 500 Return Back )
Carried Forward
L.F AMOUNT(`)
17,32.050
50,000
5,000
8500
500
1500
500
1,000
1,000
5,000
1,000
9,000
450
18,15,500
AMOUNT(`)
17,32,050
50,000
5,000
9,000
1500
500
1,000
1,000
5,000
1,000
9,000
450
18,15,500

7.
©Copyright Akhil
DATE
July 19th
Aug 30th
Sep 15th
Oct 1st
Oct 10th
Nov 1st
Dec 1st
Jan 15th
March 31st
March 31st
March 31st
PARTICULAR
Brought Forward
Transportation Charges A/c Dr.
Octroi A/c Dr.
To Cash A/c
(Transportation & Octroi Charges in Cash)
Miscellaneous Expenses A/c Dr.
To Cash A/c
(Miscellaneous expenses occurred )
Furniture & Fittings A/c Dr.
To Cash A/c
(Furniture Being Purchase in Cash )
Purchases A/c Dr.
To Samsonite
(Purchase From Company Credit)
Samsonite A/c Dr.
To Bank A/c
(Payment To company by cheque)
Petty Cashier A/c Dr.
To Bank A/c
(Issued A cheque to petty Cashier)
Cash A/c Dr.
To Commission A/c
(company Gave 10% commission on sales)
Cash A/c Dr.
Bad Debts A/c Dr.
To Mr. Kapoor A/c
(Mr . Kapoor being insolvent & 25 % Received)
Interest on loan A/c Dr.
To Bank Loan A/c
(Interest due on loan)
Bank loan A/c Dr.
To Bank A/c
(Payment on 1st
bank loan)
Depreciation A/c Dr.
To Building A/c
(Depreciation charged on Building)
Carried Forward
L.F AMOUNT(`)
18,15,500
100
150
10,000
8,000
5,000
5000
800
40,000
2500
7500
36,000
1,26,000
30,000
20,86,550
AMOUNT(`)
18,15,500
250
10,000
8,000
5,000
5,000
800
40,000
10,000
36,000
1,26,000
30,000
20,86,550

8.
©Copyright Akhil
DATE
March 31st
March
31st
March 31st
PARTICULAR
Brought Forward
Salary A/c Dr.
To Cash A/c
(Salary Being Paid To Employees )
Cash A/c Dr.
Debtors A/c Dr.
To Sales A/c
(Sales on Cash & Credit Bases)
Bank A/c Dr.
To Bank Loan A/c
(Bank Loan Taken to purchase of loan)
L.F AMOUNT(`)
20,86,550
10,000
90,000
3,10,000
90,000
26,30,850
AMOUNT(`)
20,86,550
10,000
4,00,000
90,000
26,30,850

9.
©Copyright Akhil
The Ledger is the chief book of accounts, and it is in this book that all the business
transactions would ultimately find their place under their accounts in a duly
classified manner.
Rules of Posting
1. All the transactions relating to an account should be entered at one place.
2. The world To is used before the accounts which appear on the debit side of
an account. Similarly, the world By is used before the accounts which appear
on the credit side of an account.
3. If an account is debited in journal entry, the posting in the ledger should also
be made on the debit side of such an account.
4. Similar account which has been posted on the debit side of an account should
also be posted on the credit side of an account.

10.
©Copyright Akhil
BANK A/c
Loss by Theft A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
May 5th
Mar 31st
To purchases A/c
To cash A/c
5,000
10,000
15,000
2002-03
Mar 31st
By Profit & Loss A/c 15,000
15,000
BANK LOAN A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To bank A/c 1,26,000
1,26,000
2002-03
Mar 31st
By interest on loan A/c
By bank A/c
36,000
90,000
1,26,000
DEBTORS A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To sales A/c 3,10,000
3,10,000
2002-03
Mar 31st
By Balance c/d 3,10,000
3,10,000
DIVIDEND A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To profit & loss
A/c 1,000
1,000
2002-03
Jun10th
By Bank A/c 1,000
1,000
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
April 30th
May 1st
May 15th
June 10th
Mar 31st
To Purchase Return A/c
To Cash A/c
To Sales A/c
To Dividend A/c
To Balance C/d
9,000
1,80,000
8500
1,000
1,09,350
3,07,350
2002
April 16th
April 28th
May 8th
May 20th
May 30th
June 12th
Oct 10th
Nov 1st
Mar 31st
By Fixed Deposit A/c
By Purchases A/c
By Bank Charges A/c
By Drawings A/c
By Interest A/c
By Advertisement A/c
By Samsonite A/c
By Petty Cashier A/c
By Bank Loan A/c
1,00,000
72,000
50
2,000
500
1,000
5,000
800
1,26,000
3,07,350

11.
©Copyright Akhil
DEPRICIATION A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To Building A/c 80,000
80,000
2002-03
Mar 31st
By Profit & Loss A/c 80,000
80,000
CASH A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
April 1st
April 18th
June 5th
Dec 1st
2003
5th
Jan
To Capital A/c
To Sales A/c
To Sales A/c
To Commission A/c
To Mr. Kapoor
3,00,000
23,400
5,000
40,000
2,500
4,60,900
2002
April 1st
April 5th
April 18th
May 1st
May 5th
May 10th
May 10th
July 19th
July 19th
July 28th
Aug 30th
Sep 15th
Mar 31st
Mar 31st
By Furniture A/c
By Electric Fittings
By Advertisement
By Bank A/c
By Loss By Theft A/c
By Investment A/c
By Salary A/c
By Transportation A/c
By Octroi A/c
By Trade Expense A/c
By Miss. Expense A/c
By Furniture A/c
By Salary A/c
By Balance c/d
1,00,000
10,000
40,000
1,80,000
10,000
50,000
5,000
100
150
500
800
10,000
10,000
44,350
4,60,900
PURCHASES A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 2nd
Oct 1st
To bank A/c
To samsonite A/c
72,000
5,000
77,000
2002
Apr 5th
May 5th
2003
Mar 31st
By Loss by theft A/c
By drawings A/c
By trading A/c
5,000
1,000
71,000
77,000
INTREST A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
May 30
Mar 31
To bank A/c
To bank loan A/c
500
36,000
36,500
2002-03
Mar 31 By profit & loss A/c 36,500
36,500
SALARY A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
May 10th
Mar 31st
To cash A/c
To cash A/c
5,000
10,000
15,000
2002-03
Mar 31st
By profit & loss A/c 15,000
15,000

12.
©Copyright Akhil
SALES RETURN A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Aug 10th
To Mr. Kapoor 450
450
2002-03
Mar 31st
By trading A/c 450
450
ADVERTISEMENT EXPENSES A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 18th
Jun 12th
To cash A/c
To bank A/c
40,000
1,000
41,000
2003
Mar 31st
By profit & loss A/c 41,000
41,000
TRADE EXPENSE A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
July 28th
To cash A/c 500
500
2002-03
Mar 31st
By profit &loss A/c 500
500
MISCELLANEOUS EXPENSE A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Oct 30th
To cash A/c 800
800
2002-03
Mar 31st
By profit & loss A/c 800
800
DISCOUNT ALLOWED A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 18th
May 15th
To sales A/c
To sales A/c
2600
500
3,100
2003
Mar 31st
By profit & loss A/c 3,100
3,100
PURCHASE RETURN A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To trading A/c 9,000
9,000
2002-03
Apr 30th
By bank A/c 9,000
9,000

13.
©Copyright Akhil
BANK CHARGES A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
May 8 To bank A/c 50
50
2002-03
Mar 31 By profit & loss A/c 50
50
OCTROI A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
July 19th
To cash 150
150
2002-03
Mar 31st
By profit & Loss A/c 150
150
OPENING STOCK A/C
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Apr 1 To capital A/c 4,80,000
4,80,000
2002-03
Mar 31st
By trading A/c 4,80,000
4,80,000
SALES A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To trading A/c 4,49,000
4,49,000
2002-03
Apr 18th
Apr 18th
May 15th
May 15th
Jun 5th
July 7th
Mar 31st
Mar 31st
By cash A/c
By discount allowed A/c
By bank A/c
By discount allowed A/c
By cash A/c
By Mr.Kapoor A/c
By cash A/c
By debtor
23,400
2600
8500
500
5,000
9,000
90,000
3,10,000
4,49,000
INVESTMENT A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
May 10th
To cash A/c 50,000
50,000
2002-03
Mar 31st
By balance c/d 50,000
50,000
DRAWINGS A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
May 20th
May 21st
Jun 5th
To bank A/c
To bank A/c
To purchase A/c
1500
1000
1000
3,500
2003
Mar 31st
By capital A/c 3500
3,500

14.
©Copyright Akhil
BUILDING A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 1st
To capital A/c 4,00,000
4,00,000
2003
Mar 31st
Mar 31st
By depreciation
By balance c/d
80,000
3,20,000
4,00,000
CAPITAL A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To balance c/d 11,80,000
11,80,000
2002-03
Apr 1st
Apr 1st
Apr 1st
By cash A/c
By stock A/c
By building A/c
3,00,000
4,80,000
4,00,000
11,80,000
SAMSONITE COMPANY A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Oct 10th
To bank A/c 5,000
5,000
2002-03
Oct 1st
By purchases A/c 5,000
5,000
PETTY CASHIER A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Nov 1st
To bank A/c 800
800
2002-03
Oct 1st
By balance c/d 800
800
COMMISSION A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Mar 31st
To profit &loss A/c 40,000
40,000
2002-03
Dec 1st
By cash A/c 40,000
40,000
BAD DEBTS A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
Jan 15th
To Mr Kapoor A/c 7,500
7,500
2002-03
Mar 31st
By profit & Loss A/c 7,500
7,500

15.
©Copyright Akhil
FURNITURE AND FITTINGS A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 1st
Sep 15th
To cash A/c
To cash A/c
1,00,000
10,000
1,10,000
2003
Mar 31st
By balance c/d 1,10,000
1,10,000
ELECTRIC FITTINGS A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 5th
To cash A/c 10,000
10,000
2003
Mar 31st
By profit & loss A/c 10,000
10,000
FIXED DEPOSIT A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002
Apr 16th
To bank A/c 1,00,000
1,00,000
2003
Mar 31st
By balance c/d 1,00,000
1,00,000
MR. KAPOOR A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
July 7th
Mar 31st
To sales A/c
To balance c/d
9,000
1,450
10,450
2002-03
July 10th
Jan 15th
Jan 17th
By sales return A/c
By cash A/c
By bad debts A/c
450
2,500
7,500
10,450
TRANSPORTATION CHARGES A/c
DATE PARTICULAR J.F AMOUNT(`) DATE PARTICULAR J.F AMOUNT(`)
2002-03
July 19th
To cash A/c 100
100
2002-03
Mar 31st
By profit & Loss A/c 100
100

16.
©Copyright Akhil
The Trial Balance Is a statement Prepared with the help of ledger balances, at the end of financial year to
find out whether debit total agrees with the credit total.
Characteristics of Trial Balance
It is a list of balances of all ledger accounts and the cash book
It is just an statement not an account
It can be prepared at any time during the accounting period ,
It is prepared to check the arithmetical accuracy of the ledger accounts
It helps in preparation of the final accounts
It is to obtain the summary of the ledger accounts

17.
©Copyright Akhil
TRIAL BALANCE
Of H.S KOCHAR AS ON 31st
MARCH, 2003
Name Of Account
Cash in hand
Purchase account
Building account
Opening stock
Capital account
Furniture& fitting account
Advertisement Account
Bank account (overdraft)
Electric fitting
fixed deposit
discount allowed account
sales account
return outward
dividend account
Mr. kapoor account
Commission received
Loss by theft
Salary account
Bank charges
Investment account
Drawings account
Interest charged by bank
Return inward account
Transportation account
Octroi charges
trade expense account
Miscellaneous Expense account
Petty cashier account
Bad debt account
Bank loan account
Depreciation account
Debtor account
Balance Dr. (`)
44,350
71,000
3,20,000
4,80,000
1,10,000
41,000
10,000
1,00,000
3100
15,000
15,000
50
50,000
3500
36500
450
100
150
500
800
800
7500
90,000
80,000
3,10,000
1699800
Balance Cr. (`)
11,80,000
19,350
4,49,000
9,000
1,000
1450
40,000
1699800

18.
©Copyright Akhil
Trading and P/L accounts are a part of final accounts. It is also called the Income Statements
It is divided into two parts
1. Trading Account
2. Profit & loss Account
Trading Account Is prepared for calculating gross Profit or gross loss arising or incurred
as a result of trading activities of a business.
Profit & Loss Account is an account into which all gains and losses are collected, in order
to ascertain the excess of gains over losses or losses over gains.

19.
©Copyright Akhil
Trading & profit/loss A/c
For the year ended 31st
march, 2003
PARTICULAR
To Opening Stock
To Purchases 71,000
Less return outward 9000
Less loss by theft 5000
To octroi
To balance c/d
To work manager o/s
commission
To gross profit
To discount Allowed
To loss by theft 15,000
Add further 500
Salary 15,000
Less prepaid 5,000
To bank charges
To interest by bank
To transportation expenses
To miscellaneous expense
To trade expenses
To bad debts 7500
Add new provision 1500
To depreciation
To provision for discount on
debtors
To advertisement expenses
To net profit transferred to
Capital account
AMOUNT(`)
4,80,000
57,000
150
1,85,000
18500
166,500
3100
15,500
10,000
50
36,500
100
800
500
23,000
80,000
5890
4100
42,689
2,22,229
PARTICULAR
By sales 4,49,000
Less return inward 450
By closing stock
By gross profit
By interest on fixed deposit
By interest on investment
By interest on drawings
By dividend
By provision for discount on
debtors
By commission 40,000
Add accrued commission
1000
AMOUNT(`)
4,48,550
2,73,600
1,66,500
8,000
5,000
700
1,000
29
41,000
2,22,229

20.
©Copyright Akhil
A Balance Sheet is a statement at a particular date showing on one side the trader property and
possessions and on the other hand the liabilities
Features Of balance sheet
 A Balance Sheet is a part of final Accounts. This is the reason that trading & P/L A/c and the
balance sheet are called Final Accounts. However Balance sheet is a statement not an
account having assets and liabilities side that is why it is also called Position Statement
 Balance is prepared on particular date and not on a fixed period.
 It shows the financial position of the business according to the going concern concept.
 The totals of the two sides of Balance Sheet must be equal. If the totals are not equal, there
will be an error somewhere

21.
©Copyright Akhil
BALANCE SHEET
As on 31st
march, 2003
LIABILITIES
Capital `11,80,000
Add Net profit `42689
Less Drawings `4200
Creditors `1450
Less provision for
discount `29
Workmen manager o/s
commission
Bank Overdraft
AMOUNT(`)
12,18,489
1421
1850
19350
12,57,760
ASSETS
Cash in Hand
Investment `50,000
Add Interest `5000
Petty Cashier
Debtors `3,10,000
Less Provision `15500
Less Discount `5840
Insurance Claim
Closing stock
Building
Furniture & Fittings
Electric Fittings
Fixed Deposits
`1,00,000
Add Interest `8,000
Accrued Commission
Prepaid Salary
AMOUNT(`)
44,350
55,000
800
2,88,610
4500
2,73,600
3,20,000
1,10,000
10,000
1,08,000
1000
5000
12,57,760