Assignment 7

 Assignment 7                                                                    (Use your mind to solve)

 

1)    Create a Company with "Swastik- Your Name- A7” for the financial year of 2022-23. Now, create the following ledger with opening balances:

Corporation Bank — 250000, Cash — 15000, Machinery — 120000, loan from ICICI Bank — 160000, Outstanding Electricity Bill — 20600, M/s Chase Enterprises (Sundry Debtors) — 125000, M/s Style Furniture (Sundry Creditors) — 48500, & remaining amounts will be treated as Share Capital.

 

2)    Details of Sundry Debtor and Sundry Creditor are as follows:

Sundry Debtors Details
Name	Invoice Date	Invoice Number	Credit Days	Amount
M/s Chase Enterprises	1-1-2022	AGC/220/19-20	30	75000
M/s Chase Enterprises	2-2-2022	AGC/275/19-20	15	30000
M/s Chase Enterprises	1-3-2022	AGC/310/19-20	15	20000

 

Sundry Creditors Details
Name	Invoice Date	Invoice Number	Credit Days	Amount
M/s Style Furniture	31-1-2022	Inv250/SF/19-20	15	25000
M/s Style Furniture	2-2-2022	Inv290/SF/19-20	30	23500

 

 

3)    On 01-4-2022 Company paid Outstanding Electricity Bill by Cheque of Corporation Bank. [Ch. no. —478596].

4)    Company received Rs. 90000 rot M/s Chase Enterprises on 2-4-2022 through a Cheque of Allahabad Bank and they want to clear the total amount of First bill and remaining from second bill. On the same day deposited the Cheque to Corporate Bank. [Cheque no. — 247365].

5)    On 2-4-2022 company paid Rs. 48000 to M/s Style Furniture through Cheque of Corporation Bank in full & final settlement [Cheque no. — 478597]

6)    On 1-5-2022 company deposited cash of Rs. 10000 into Corporation Bank.

7)    On 2-5-2022 company book (Due) the rent in favor of Ultra Properties for the month of April'16 Rs. 35000.

8)    On 31-5-2022 company received the remaining amount from M/S Chase Enterprises through a
Cheque HDFC Bank and deposited into corporation bank on the same day. [cheque no.247388)

9)    Go to day modify the transaction which you passed on 2-5-2022 to Rs. 42000.

10) Check the balance sheet and profit & loss A/c. also, take the backup on your company.