Assignment: 14

1.      Create a company with your name followed by your student code and chapter name for the financial year 2016-17. Now create the following ledgers.         

Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Capital	2,75,000.00	Furniture	3,26,000.00
Loan from Indian bank	1,22,000.00	HDFC Bank	91,000.00
Profit & Loss	32,000.00	Cash	12,000.00
	4,29,000.00		4,29,000.00

2.      Companies started manufacturing Chocolate Cakes and for this propose company purchase following goods from M/s Gangaram Brother on 01.04.2016 (BILL/No.GB/BILL/088/16-17).

Product	Quantity	Godown	Rate (Rs.)
Butter	6kg	Uluderia	200/kg
Sugar	10kg		80/kg
Chocolate (Unsweetened)	5kg		650/kg
Flour	15kg		45/ kg
Milk	12kg		75/kg
Eggs	100pcs		4/Pcs
Vanilla Extract	3kg		1000/kg
Baking Powder	1kg		3700/kg
Salt	1kg		40/kg

**** Note: use alternative units for all items as “grams.” [1kg=1000 grams]

3.      To produce 1.5 pound of chocolate Cake the following ingredients and quantities required.

Ingredients	Quantity
Butter	125 grams
Sugar	200 grams
Chocolate (Unsweetened)	85 grams
Flour	350 grams
Milk	300 grams
Eggs	3 Pcs
Vanilla Extract	15 grams
Baking Powder	12 grams
Salt	10 grams

     

4.      On 01-05-2016 company produced 50 Pound of Chocolate Cake & stored it at Uluberia godown. Company paid labour expenses  of Rs.1000 in cash.  Consider other expenses to  get cost of sale as below.

I.        Factory Electricity -15% of material cost

II.      Factory Rent-5% of material cost

III.    Administrative Expenses-2% of material cost IV.      Carriage  Expenses -1% of material cost.

5.      On 02.05.2016 the entire produced cakes have been transferred to Esplanade Shop floor and incurred Rs.478 as transportation expenses by cash. Revise the cost of goods by transportation expenses.

6.      On 01.06.2016 Company declared  a price scheme for the customers as below.

Scheme Name	Product	Quantity sold Level	Rate of pound	Discount
Great Deal	Chocolate Cake	Up to 10 pound	Rs.250	Nil
		11 to 25 pound	Rs.235	Nil
		26 to 30 pound	Rs.235	2%
		31 to 40 pound	Rs.225	Nil
		41 pound onward	Rs.225	3%

 

7.      On 02.06.2016 company cleared the 50% dues of M/s Gangaram Brother by cheque of HDFC Bank [cheque no. 66630].

8.      On 01.07.2016 company sold 28 Pound of Cake from Esplanade shop by cash (Ref no.C9A/CS/321/16-17).