CREATED BY:-ABHINAV KUMAR GOSWAMIROLL NO- 2XI CKPS KADMA
A type of business enterprise or proprietorship which is owned by oneperson who is fully liable for the companys debts and fulfillment ofcontracts with his/her personal wealth unless incorporated.I WOULD LIKE TO BE SOLE TRADER BECAUSE:-
I would like to start business of “FURNITURE” as a sole trader with the name of “ GOLDEN FURNITURE ”.I have selected furniture business because:- It will lead me to profit maximization. Less worker required as compared to other business. Work is done only by skilled worker so spoiling of raw material is less.
FOR BULK SINGLE ITEM PURCHASE PURCHASE ENQUIRY ENQUIRY SELECTION OF QUATATION PRODUCT ORDER PAYMENT OR EXEQUTION OF PARTELY PAYMENT ORDER HOME DELIVERY DELIVERY OF GOODS PAYMENT
PARTICULARS Dr (2009) Dr (2010) Cr (2009) Cr (2010)Opening stock 80000 100000land & building 60000 60000Plant & 60000 60000machineryfurniture 40000 40000Motor van 50000 50000Lose tools 4000 4000debtor 58000 30000Cash at bank 2000 12000Cash in hand 4000 14000salary 16000 5000wages 2000 5000Carriage inward 2000 2000Carriage 4000 3000outward
PARTICULARS Dr (2011) Dr (2012) Cr (2011) Cr (2012)Opening stock 40000 110000land & building 70000 70000Plant & 70000 70000machineryFurniture 50000 50000Motor van 50000 50000Lose tools 14000 14000Debtor 18000 40000Cash at bank 12000 82000Cash in hand 14000 64000Salary 26000 15000Wages 12000 15000Carriage inward 12000 12000
PARTICULARS AMOUNT PARTICULAR AMOUNT STo opening 150000 By sales 419000 379000stockTo purchase 94000 31500 - Sales 40000 return- Purchase 62500 By closing 122500return stockTo wages 27000To carriage 24000inwardTo gross profit 269000 501500 501500To salaries 41000 By gross 269000 profit
LIABILITIES AMOUNT ASSET AMOUNTCAPITAL FIXED ASSETACCOUNTcapital 440000 land & 140000 building+net profit 18000 Plant & 140000 machinery-drawings 54000 404000 furniture 100000 Motor van 100000LONG TERM Lose tools 28000LIABILITIESLong term 230000LoanBank o/d 53000 CURRENT ASSETCURRENT Cash at bank 94000
Series 1 RS 103000 RS 180002009AND2010 2011 AND 2012
WAGES DECREASE BY 20%:- 7000*20%=14007000-1400=5600 IMPACT ON GROSS PROFIT:-If the WAGES decreased by 20% then the GROSS PROFIT will increase. If the WAGES INCREASE BY 20%:-If the WAGES increased by 20% then the GROSS PROFIT will decrease
INCREASE OF SALE 25% IN 2011 & 2012:-379000*25%=9475094750+379000=473750
Product verity increases. People employed for problem handling of customers regarding products. Free delivery facility is provided for customer who purchase single furniture. Style and quality increased. Quality of advertisement has been improved. Servicing facility has been introduced for our customers. Discount are available on every product. Easy payment system has been introduced.
Research for choosing the business was tough and time taking. Choosing right person for right job was also a kind of hurdle which I faced. Arranging finance was other problem. Problems also accord while finding the place for setting up the office and godown. Choosing right place for targeted customer, so that we can start business was hard thing to do.
While making this project I found many opportunity and threat which can Accor in sole trading. I also came to know about the market condition and the competitors of the sole trading. This project also lead me to learn the sole trading business more closely.