PREPARE FINAL ACCOUNTS OF SIVAPRASAD LTD FOR THE YEAR 2015 ASSUME THE FINANCIAL YEAR START WITH 1/4/2014.
.1 .Commenced business with cash 2,00,000 stock 1,00,000,furniture 25,000[opening balances]
.2. Cash Deposited in to bank 50,000[f8:contra][v]
.3. Cash purchases 70,000[purchases][v]
.4. Credit Purchases 25,000[purchases][v]
.5. Cash sales 1,00,000[sales][v]
.6. Credit sales 40,000[sales][v]
.7. Credit sales to Ram 30,000[sales][v]
.8. Land purchased and issued a cheque 25,000[payment][v]
.9. Land purchased on credit from m/s krishna and enterprise 2,00,000[journal][v]
10. Furniture purchased for cash 10,000[payment][v]
11. salary paid by cheque 5,000[payment][v]
12. wages paid for 10 months 20,000[payment][v]
13. Interest due on capital 10% [journal][v]
[v]-----> Voucher
Aim:-
To prepare final accounts of Sivaprasad Ltd for the year 2015
Proceedure :-
1. Applications-------->office---------> GNUkhata v.5.25
2. Create a Company------>click on company Setup wizard...and enter company name Comp[proceed]any type(profit making) and B. click on accounts only others are optional------>[proceed]
3.Enter the name ,city state and country in the field given other s are optional------>[proceed]
.1 .Commenced business with cash 2,00,000 stock 1,00,000,furniture 25,000[opening balances]
.2. Cash Deposited in to bank 50,000[f8:contra][v]
.3. Cash purchases 70,000[purchases][v]
.4. Credit Purchases 25,000[purchases][v]
.5. Cash sales 1,00,000[sales][v]
.6. Credit sales 40,000[sales][v]
.7. Credit sales to Ram 30,000[sales][v]
.8. Land purchased and issued a cheque 25,000[payment][v]
.9. Land purchased on credit from m/s krishna and enterprise 2,00,000[journal][v]
10. Furniture purchased for cash 10,000[payment][v]
11. salary paid by cheque 5,000[payment][v]
12. wages paid for 10 months 20,000[payment][v]
13. Interest due on capital 10% [journal][v]
[v]-----> Voucher
Aim:-
To prepare final accounts of Sivaprasad Ltd for the year 2015
Proceedure :-
1. Applications-------->office---------> GNUkhata v.5.25
2. Create a Company------>click on company Setup wizard...and enter company name Comp[proceed]any type(profit making) and B. click on accounts only others are optional------>[proceed]
3.Enter the name ,city state and country in the field given other s are optional------>[proceed]
4. Enter user name and password and security question and answer ----->[Create and login]
5.Prepare Ledger accounts under appropriate
accounting groups Or Start Voucher entry Under appropriate Voucher given .You have the option to add new accounts while you are in Journalizing, so there is no need to create Ledger in Master. Some Ledgers are listed in v.5.25 if you need additional Please create by using the 'add option '
Statement showing Name, Group Dr.,C.rand amount
Date
|
Ledger
|
Ledger Group
|
Dr./Cr.
|
Amount
|
|
1-4-2015
|
cash
|
Current asset//sub.Cash
|
Dr.
|
2,00,000
|
|
stock
|
Current asset/ sub.opening stock
|
Dr.
|
1,00,000
|
||
Furniture
|
Fixed asset/sub Furniture
|
Dr.
|
25,000
|
||
Capital
|
Capital
|
Cr.
|
3,25,000
|
||
2-4-2015
|
Bank
|
current asset/sub Bank
|
Dr.
|
50,000
|
|
Cash
|
Cr.
|
50,000
|
|||
5-4-2015
|
Purchases
|
Direct Expenses
|
Dr.
|
70,000
|
|
Cash
|
Cr.
|
70,000
|
|||
10-4-2015
|
Purchases
|
Dr.
|
25,000
|
||
12-4-2015
|
Creditor
|
Current Liabilities/sub creditor for goods Purchases
|
Cr.
|
25,000
|
|
15-4-2015
|
Cash
|
Dr.
|
1,00,000
|
||
Sales
|
Direct Income/sub-Sales
|
Cr.
|
1,00,000
|
||
20-4 -2015
|
Debtors
|
Current asset/sub-Sundry Debtors
|
Dr.
|
40,000
|
|
Sales
|
Cr.
|
40,000
|
|||
25-4-2015
|
Ram
|
Current asset/sub-Debtors
|
Dr.
|
30,000
|
|
Sales
|
Cr.
|
30,000
|
|||
30-4-2015
|
Land
|
Fixed asset/sub-Land and Building
|
Dr.
|
25,000
|
|
Bank
|
Cr.
|
25,000
|
|||
1-5-2015
|
Land
|
Fixed asset/
|
Dr.
|
2,00,000
|
|
M/s Krishna
|
Creditors/sub-creditors for land Purchases[New]
|
Cr.
|
2,00,000
|
||
10-10-2015
|
Furniture
|
Fixed Asset
|
Dr.
|
10,000
|
|
Cash
|
Cr.
|
10,000
|
|||
30-12-2015
|
Salary
|
Indirect
expenses/none
|
Dr.
|
5,000
|
|
| Cash | Cr. | 5,000 |
