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This project contains a comprehensive project of accountign. It also contain a law project on famous cases i.e. Carlill v Carbolic Smoke Ball and Balfour vs Balfour. And this project also contain a supply and demand of thermometer during corona virus.
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BUSINESS PLAN !
1.
2. BUSINESS PLAN
• Pragya Agarwal had completed her graduation from Shri Ram College
of commerce, Delhi and completed her schooling from Cambridge court,
High school Jaipur. Since her childhood days she was very passionate
towards business and ventures, so after completing M.com honours in
2018 she decided to start her own venture.
• She arranged funds by making banners and publishing them in the
market. Through this activity she managed to get Rs. 500000 and she
also invested her savings of Rs.700000.Her family supported her
emotionally and financially and they also invested in her business
.Therefore she was able to invest Rs. 1500000 as her capital. She read
many business plans, took advices from her elders and from the
experienced ones, also she analyzed the market, researched about the
demand .
3. • Through her study she found out that Jaipur will be a fine place to start of
her venture as it was her home town and the demand of Jaipur was
positively towards sanitaryware .
• She decided not to take the risk of setting her own premises by involving
use of huge funds. Instead, she took a old showroom situated at
Mansarovar Jaipur , a rich hub for most of the interested customers. The
landlord of the showroom happened to be her colleague's father who was
very kind and generous to her.
• She gave 100000 as security deposit to Mr. Dayanand Shrivastava an
agreed upon a one year agreement regarding rent. She had set up a
sanitary and hardware shop named "Agarwal sanitary and hardware“ on
1st April 2018 . Because of her interest and hard work she handled
everything smoothly from planning to selling . She started from a small
showroom and with time she is expecting to expand her business.
4. BUSINESS TRANSACTIONS
Following transaction took place in the last financial year :
1. Started business with a capital of Rs. 1500000.
2. 100000 was given to as security deposit to Landlord.
3. Deposited Rs.700000 in HDFC Bank a/c.
4. Assets like furniture Rs. 100000, Machinery Rs. 50000 was
purchased by cheque .
5. Total purchases during the year was of Rs. 500000, CGST and
SGST 6% each, out of which credit purchases were of Rs. 250000.
6. Additional capital of Rs. 200000 was introduced.
5. • 7. Total Sales during the year was of Rs. 1000000,CGST &
SGST 6% each, out of which credit sales were of Rs. 700000.
• 8. Salary of Rs. 55000 was paid by cheque.
• 9. Stationary of Rs. 8000 was paid in cash.
• 10. Advertisement expenses of Rs.20000 was paid in cash.
• 11. Travelling expenses of Rs. 25000 was paid in cash.
• 12. Goods of Rs. 10000 was withdrawn for personal use.
• 13. Cash Rs.50000 was withdrawn for personal use.
• 14. Insurance premium Rs. 60000 was paid in cash.
• 15. Carriage inwards of Rs.5000 was paid in cash.
6. • 16. Electricity Bill of Rs. 70000 was paid in cheque.
• 17. Rent Rs. 80000 was paid in cash.
• 18. Cash of Rs. 120000 was paid into Bank.
• 19. Paid for Repairs Rs. 5000.
• 20. Commission Received Rs. 2000 in cash.
• 21. Paid for postage Rs. 500 in cash.
• 22. Goods of Rs. 10000 was given as sample.
• 23. Paid Rs. 50000 to a creditor in cash.
• 24. Wages of Rs. 65000 was paid in cash.
• 25. Cash Rs. 110000 deposited into Bank.
7. JOURNAL
Date Particulars
L.F
Dr. Cr.
2018-
19
Cash A/C Dr.
To Capital A/C
[Being business started with cash.]
1500000
1500000
2018-19 Security Deposit A/C Dr.
To Cash A/C
[Being cash deposited for security.]
100000
100000
2018-19 Bank A/C Dr.
To Cash A/C
[Being cash deposited into Bank.]
700000
700000
2018-19 Furniture A/C Dr.
Machinery A/C Dr.
To Bank A/C
100000
50000
150000
2018-19 Purchases A/C Dr. 500000
8. Date Particulars L.F. Dr. Cr.
TOTAL B/F 35,10,00
0
35,10,00
0
2018-
19
Debtor A/C Dr.
Cash A/C Dr.
To Sales A/C
To Output CGST A/C
To Output SGST A/C
[Being goods sold.]
784000
336000
10,00,000
120,000
120,000
2018-19 Salary A/C Dr.
To Bank A/C
[ Being salary paid]
55000
55000
2018-19 Stationary A/C Dr.
To Cash A/C
[Being stationary purchased.]
8000
8000
2018-19 Advertisement Expenses A/C
Dr.
To Cash A/C
20000
20000
9. Date Particulars L.F Dr. Cr.
TOTAL B/F 48,58,000 48,58,00
0
2018-
19
Drawings A/C
Dr.
To Purchases A/C
To Input CGST A/C
To Input SGST A/C
[Being goods withdrawn for personal use.]
11200
10000
600
600
2018-
19
Drawings A/C
Dr.
To Cash A/C
[Being cash withdrawn for personal use.]
50000
50000
2018-
19
Insurance premium A/C
Dr.
To Cash A/C
[Being insurance premium paid.]
60000
60000
10. Date Particulars L.F. Dr. Cr.
TOTAL B/F 50,54,20
0
50,54,20
0
2018-
19
Rent A/C
Dr.
To Cash A/C
[Being Rent paid.]
80000
80000
2018-
19
Bank A/C
Dr.
To Cash A/C
[Being cash deposited into Bank.]
120000
120000
2018-
19
Repairs A/C
Dr.
To Cash A/C
[Being cash paid for repairs.]
5000
5000
2018- Cash A/C Dr.
To Commission Received A/C
2000
11. Date Particulars L.F. Dr. Cr.
TOTAL B/F 52,92,30
0
52.92,300
2018-
19
Advertisement A/C Dr.
To Purchases A/C
To Input CGST A/C
To Input SGST A/C
[Being goods given as sample.]
11200
10000
600
600
2018-19 Creditor A/C Dr.
To Cash A/C
[Being creditors paid by cash.]
50000
50000
2018-19 Wages A/C Dr.
To Cash A/C
[Being wages paid.]
65000
65000
2018-19 Bank A/C
Dr.
To Cash A/C
[Being cash deposited into Bank.]
110000
110000
12. LEDGER
Date Particulars J.F Amount Date Particulars J.F Amount
2018-
19
To Balance c/d 1700000 2018-19 By Cash A/C 1500000
By Cash A/C 200000
17000000 1700000
Date Particulars J.F Amount Date Particulars J.F Amount
2018-
19
To Cash A/C 100000 2018-19 By Balance c/d 100000
Capital A/C
Security Deposit A/C
13. Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Bank A/C 100000 2018-19 By Balance c/d 100000
100000 100000
Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Balance c/d 1000000 2018-19 By Debtor A/C 300000
By Cash A/C 700000
1000000 1000000
Furniture A/C
Sales A/C
14. Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Sales A/C 700000 2018-19 By Balance c/d 784000
To Output CGST A/C 42000
To Output SGST A/C 42000
784000 784000
2018-19 To Bank A/C 50000 2018-19 By Balance c/d 50000
50000 50000
Debtor A/C
Machinery A/C
15. Bank A/C
Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Cash A/C 700000 2018-19 By Furniture A/C 100000
To Cash A/C 120000 By Machinery A/C 50000
To Cash A/C 110000 By Salary A/C 55000
By Electricity Expenses
A/C
70000
By Output CGST A/C 31200
By Output SGST A/C 31200
By Balance c/d 337400
820000 820000
2018-19 To Balance c/d 2000 2018-19 By Cash A/C 2000
Commission Received A/C
16. Cash A/C
Date Particulars J.F Amount Date Particulars J.F Amount
201
8-19
To Capital A/C 15000000 2018
-19
By Security Deposit A/C 100000
To Capital A/C 200000 By Bank A/C 700000
To Sales A/c 300000 By Purchases A/C 250000
To Output CGST A/C 18000 By Input CGST A/C 15000
To Output SGST A/C 18000 By Input SGST A/C 15000
To Commission Received
A/C
2000 By Stationary A/C 8000
By Advertisement
Expenses A/C
20000
By Travelling Expenses
A/C
25000
17. By Drawings A/C 50000
2018
-19
By Insurance Premium
A/C
60000
By Carriage Inwards A/C 5000
By Bank A/C 120000
By Postage A/C 500
By Creditor A/C 50000
By Wages A/C 65000
By Rent A/C 80000
By Repairs A/C 5000
By Bank A/C 110000
By Balance c/d 359500
18. Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Cash A/C 250000 2018-19 By Drawings A/C 10000
To Creditor A/C 250000 By Advertisement
Expenses A/C
10000
By Balance c/d 480000
500000 500000
2018-19 To Cash A/C 50000 2018-19 By Purchases A/C 250000
To Balance c/d 230000 By Input CGST A/C 15000
Purchases A/C
Creditor A/C
19. Date Particulars J.F Amount Date Particulars J.
F
Amount
2018-19 To Input CGST A/C 28800 2018-19 By Debtor A/C 42000
To Bank A/C 31200 By Cash A/C 18000
60000 60000
2018-19 To Cash A/C 15000 2018-19 By Drawings A/C 600
To Creditor A/C 15000 By Advertisement
A/C
600
By Output CGST 28800
Output CGST A/C
Input CGST A/C
20. Date Particulars J.F Amount Date Particulars J.F Amount
2018-
19
To Input SGST A/C 28800 2018-
19
By Debtor A/C 42000
To Bank A/C 31200 By Cash A/C 18000
60000 60000
2018-
19
To Cash A/C 15000 2018-
19
By Drawings A/C 600
To Creditor A/C 15000 By Advertisement 600
Output SGST A/C
Input SGST A/C
21. Date Particulars J.F Amount Date Particulars J.F Amount
2018-
19
To Cash A/C 20000 2018-
19
By Profit and Loss
A/C
31200
To Purchases A/C 10000
To Input SGST A/C 600
To Input CGST A/C 600
31200 31200
2018-
19
To Bank A/C 55000 2018-
19
By Profit and Loss
A/C
55000
55000 55000
Advertisement Expenses A/C
Salary A/C
22. Travelling Expenses A/C
Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Cash A/C 25000 2018-19 By Profit and Loss
A/C
25000
25000 25000
2018-19 To Purchases A/C 10000 2018-19 By Balance c/d 61200
To Input CGST A/C 600
To Input SGST A/C 600
To Cash A/C 50000
61200 61200
Drawings A/C
23. Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Cash A/C 5000 2018-19 By Profit and loss
A/C
5000
5000 5000
2018-19 To Cash A/C 60000 2018-19 By Profit and Loss
A/C
60000
60000 60000
2018-19 To Cash A/C 5000 2018-19 By Trading A/C 5000
5000 5000
Repairs A/C
Insurance Premium A/C
Carriage Inwards A/C
Electricity Expenses A/C
24. Date Particulars J.F Amount Date Particulars J.F Amount
2018-19 To Cash A/C 65000 2018-19 By Trading A/C 65000
65000 65000
2018-19 To Cash A/C 500 2018-19 By Profit and Loss
A/C
500
500 500
2018-19 To Cash A/C 80000 2018-19 By Profit and Loss
A/C
80000
80000 80000
Wages A/C
Postage A/C
Rent A/C
28. TRADING A/C (FOR THE YEAR ENDING 31ST MARCH 2019)
Particulars Amount Particulars Amount
To Purchases A/C 480000 By Sales A/C 1000000
To Wages A/C 65000 By Closing Stock 100000
To Carriage
Inwards A/C
5000
To Gross Profit 550000
1100000 1100000
29. PROFIT AND LOSS ACCOUNT
(FOR THE YEAR ENDING 31ST MARCH 2019)
Particulars Amount Particulars Amount
To Salary A/C
55000 +Outstanding
Expenses 5000
60000
By Gross Profit 550000
To Stationary A/C 8000 By Commission
Received 2000
To Advertisement Expenses
A/C
31200 + : Accrued Income
1000
3000
To Travelling Expenses A/C 25000
To Insurance premium A/C 60000
30. To Repairs A/C 5000
To Postage A/C 500
To Rent A/C
80000
Less : Prepaid Rent
15000
65000
To Depreciation :
Furniture : 10/100 * 100000 =
10000
Machinery : 15/100* 50000 =
7500
17500
To Net Profit 210800
553000 553000
31. BALANCE SHEET [AS ON 31ST MARCH 2019]
Liabilities Amount Assets Amount
Capital 1700000
Add : Net Profit
210800
Less: Drawings
61200
1849600
Furniture
100000
Less : Depreciation
10000
90000
Creditors 230000 Machinery
50000
Less : Depreciation
7500
42500
Outstanding Expenses 5000 Security Deposit 100000
Debtors 784000
Closing Stock 100000
Accrued Income 1000
32. RATIO ANALYSIS
Gross Profit Ratio :
= Gross profit * 100
Net Sales
= 550000 * 100
1000000
= 55 %
Efficiency of the enterprise is quite good. This ratio is sufficiently
higher than the norms for similar types of business enterprise.
33. NET PROFIT RATIO :
= NET PROFIT * 100
NET SALES
= 210800 * 100
1000000
= 21.08 %
EFFICIENCY OF THE ENTERPRISE IS QUITE GOOD.
THIS RATIO IS SUFFICIENTLY HIGHER THAN THE
NORMS FOR SIMILAR TYPES OF BUSINESS
ENTERPRISE.
34. CURRENT RATIO = CURRENT ASSETS
CURRENT LIABILITIES
= DEBTORS + CLOSING STOCK + ACCRUED INCOME + PREPAID
EXPENSES + BANK + CASH
CREDITORS + OUTSTANDING SALARY
= 784000 + 100000+ 1000+ 15000+ 592600+ 359500
230000 + 5000
= 1852100
235000
= 7.88 :1
THE IDEAL CURRENT RATIO IS 2:1 . THE CURRENT RATIO OF THE ENTERPRISE IS
7.88 :1 WHICH IS MUCH HIGHER THAN THE ACCEPTED NORMS.
35. QUICK RATIO =
CURRENT ASSETS –INVENTORIES- PREPAID
EXPENSES
CURRENT LIABILITIES
= 1852100 – 100000 -15000
235000
=7.39 : 1
THE IDEAL QUICK RATIO IS 1:1 . THE QUICK RATIO IS
7.81:1 WHICH IS MUCH HIGHER THAN THE ACCEPTED
NORMS.
36. INVENTORY TURNOVER RATIO = COST OF GOODS SOLD
AVERAGE INVENTORY
= OPENING INVENTORY + PURCHASES+ DIRECT EXPENSES –CLOSING
INVENTORY
OPENING INVENTORY + CLOSING INVENTORY
2
= 0 + 480000 + 70000 – 100000
0+ 100000
2
=450000 = 9 TIMES
50000
AN ITR RATIO BETWEEN 4 AND 6 IS USUALLY A GOOD INDICATOR.
HIGH ITR RATIO MEANS A COMPANY IS SELLING GOODS QUICKLY
AND THERE IS GOOD DEMAND IN THE MARKET.