TRIAL BALANCE FOR 2007 AND 08 AND FOR THE ANTICIPATED YEAR.

1. PROJECT WORK ON
ACCOUNTS
PRESENTED BY
MANISH SINGHANIA
CLASS – XI ‘C’
ROLL NO. – 8

2. 1. Who is a Sole Trader ?
Ans. - Sole Trader business is started by a single person who alone
prepares the blueprints of the business and arranges the
necessary finance. No legal formalities are required for opening
a sole proprietorship. Any one can start a business of his own
whenever and wherever he likes.
2. Why would you like to be a sole trader ?
Ans :- I would like to be a sole trader because it is done by
individual person. There will be no partners, no sharing of
profits, no legal formalities.
There are some characteristics that why should be a sole trader
:-
(i) Single Ownership :- A sole proprietorship is wholly owned by
one individual.
(ii) One-man control :- The proprietor alone takes all the
decisions relating to the business.
(iii) No legal entity :- There is no legal formalities of starting a
sole trader. Anyone can open a business.
(iv) No-profit sharing :- The sole proprietor alone is entitled to
all the profits and losses of business.

3.  What type of business would you like to
start?
Ans. I would like to start a manufacturing company of
incense sticks. The firm name will be “MANISH
PERFUMERY”. I would like to start this business
because there is no tax in the Jharkhand. There is less
chance of loss because this business is not basis on
the credit. The marketing has to be done daily. There
should be a regular supply of goods. All the products
should be of good quality. In this business the staff is
very necessary without staff the business couldn’t be
run. The machinery need is very less. To set up the
business the place should be big.

4.  What process would you take to
purchase the product?
Ans. The process that would you take to purchase
the product are :-
i. First of all I will enquiry about the quality of
material and then its price and from wherever I
will get at lesser price and good quality I will
buy from there.
ii. Then the order will be place according to the
demand.
iii. Then the payment will be done.
iv. After the payment the goods will be delivered
to my destination.

5. PARTICULARS AMOUNT OF
2010 (Dr.)
AMOUNT OF
2010 (Cr.)
AMOUNT OF
2011 (Dr.)
AMOUNT OF
2011 (Cr.)
Opening Stock 30000
Land 80000 80000
Building 60000 60000
Furniture 40000 40000
Machinery 60000 60000
Live Stock 50000 50000
Bills 4000 4000 5000 3
Cash at Bank 8000 10000
Cash in Hand 2000 6000
Purchases 120000 150000
Sales 260000 320
Debtors 20000 26000

6. PARTICULARS AMOUNT
OF 2010
(Dr.)
AMOUNT
OF 2011
(Cr.)
PARTICULARS AMOUNT
OF 2010
(Dr.)
AMOU
OF 2011
(Cr.)
To Opening Stock 30000 By Sales 260000 320
To Purchases 120000 150000 By Closing Stock 30000 36
To Wages 4000 6000
To Carriage Inward 2000 3000
To Gross Profit
(transferred to P&L
A/c
164000 167000
TOTAL 290000 356000 290000 3560
To Salary 16000 18000 By Gross Profit 164000 167
To Carriage 4000 4000

7. Liabilities Working
of
2010(Dr.)
Working
of 2011
(Cr.)
Amount
of 2010
(Dr.)
Amount
of 2011
(Cr.)
Assets Amount
of 2010
(Dr.)
Capital
Add : Net Profit
Less : Drawing
120000
134000
30000
160000
132000
22000
224000 270000 Land 80000
Building 60000
Furniture 40000
Machinery 60000
Long Term
Loan
100000 80000
Creditors 26000 20000 Closing
Stock
30000

8. PARTICULARS AMOUNT OF
2012 (Dr.)
AMOUNT OF
2012 (Cr.)
AMOUNT OF
2013 (Dr.)
AMOUNT OF
2013(Cr.)
Opening Stock 36000 40000
Land 80000 80000
Building 60000 60000
Furniture 40000 40000
Machinery 60000 60000
Live Stock 50000 55000
Bills 6000 4000 8000 6000
Cash at Bank 12000 14000
Cash in Hand 6000 4000
Purchases 230000 260000
Sales 400000 520000
Debtors 20000 40000

9. To Opening
Stock
36000 40000 By Sales 400000 520000
To Purchases 230000 260000 By Closing Stock 40000 42000
To Wages 8000 10000
To Carriage 3000 3000
To Gross Profit 163000 249000
TOTAL 440000 562000 440000 562000
To Salary 20000 26000 By Gross Profit 163000 249000
To Carriage 2000 3000

10. Particulars Working
of 2012
Working
of 2013
Amount
of 2012
Amount
of 2013
Particulars Amount
of 2012
Am
of 2
Capital
Add : Net
Profit
Less :
Drawings
150000
128000
20000
150000
203000
10000
258000 343000 Land 80000 800
Building 60000 600
Furniture 40000 400
Machinery 60000 600
Long Term
Loan
96000 40000
Creditors 10000 8000 Closing 40000 420

11. 2010 2011 2012 2013
SALES
50000
100000
150000
200000
250000
AxisTitle
NET PROFIT

12.  What steps where taken by you to increase
the sale ?
Ans :- The steps taken by me to increase
the sale are:
i. Better Transport Facility has to be
made.
ii. Regular supply of the product in the
market.
iii. Providing services to the customer
according to their needs.
iv. Making good quality of the product.

13.  What problems encountered by you to set up
the business ?
> For setting this business I have to need a huge capital
as it is a incense sticks work for which I took a loan
from bank for a particular period.
> For growth of my business I have to work hard because
as it was not known by the normal customers.
 What problems encountered by you while
making this project ?
> I have taken help from my friend Navneet for
making this project.
> I have taken help from commerce book of Std. XI.