CIA-1

FINANCIAL ACCOUNTING

Submitted to: Ms. Sharada

(Department of Business and Management)

Submitted by: Aaditya Dotia

Reg. no : 2324401

Class : 1BBA FMA B

Subject name: FINANCIAL ACCOUNTING

 FINANCIAL TRANSACTIONS FOR
THE MONTH OF MARCH 2023 :-
1 March :- Started Business with cash ₹2,00,000.

3 March :- Purchased goods worth ₹30,000 plus CGST and SGST at

6% each.

6 March :- Purchased goods of ₹20,000 plus CGST and SGST at 6%

each from Madhav.

9 March :- Deposited cash into bank account ₹80,000.

12 March :- Paid Insurance Premium of ₹7,000 through cheque.
14 March :- Sold goods of ₹25,000 plus CGST and SGST at 6% each
and payment received through cheque.

17 March :- Sold goods worth ₹10,000 plus CGST and SGST at

6% each to Shruti.

22 March :- Paid cash to Madhav ₹15,000.

26 March :- Received Commission ₹4,000.

31 March :- Paid Salaries ₹25,000.

JOURNAL ENTRIES
 Date Particulars L.F. Debit (in ₹) Credit (in ₹)
(2023)

Cash A/C 2,00,000

Dr. 2,00,000
1 March To Capital A/C
(Being business started with cash.)
Purchase A/C 30,000
3 March Dr. 1,800
Input CGST A/C 1,800
Dr. 33,600
Input SGST A/C
Dr.
To Cash A/c
(Being goods purchased for cash.)
Purchase A/C 20,000
6 March Dr. 1,200
Input CGST A/C 1,200
Dr. 22,400
Input SGST A/C
Dr.
To Madhav A/C
(Being goods purchased from Madhav
on credit.)
Bank A/C 80,000
9 March Dr. 80,000
To Cash A/C
(Being cash deposited into bank.)
Insurance Premium A/C 7,000
12 March Dr. 7,000
To Bank A/C
(Being insurance premium paid
through cheque.)
Bank A/C 28,000
14 March Dr. 1,500
To Output CGST 1,500
 A/C 25,000
To Output SGST
A/C
To Sales A/C
(Being goods sold and payment
received through cheque.)
Shruti A/C 11,200
17 March Dr. 600
To Output CGST 600
A/C 10,000
To Output SGST
A/C
To Sales A/C
(Being goods sold to Shruti.)
Madhav A/C 15,000
22 March Dr. 15,000
To Cash A/C
(Being cash paid to Madhav.)
Cash A/C 4,000
26 March Dr. 4,000
To Commission
A/C
(Being commission received.)
Salary A/C 25,000
31 March Dr. 25,000
To Cash A/C
(Being salary paid to employees.)
 LEDGER ACCOUNTS
Dr. CASH A/C Cr.
Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
1 March To Capital A/C 2,00,000 3 March By Purchases 30,000
A/C
26 March To Commission 4,000 3 March By Input CGST 1,800
A/C A/C
3 March By Input SGST 1,800
A/C
9 March By Bank A/C 80,000
22 March By Madhav 15,000
A/C
31 March By Salary A/C 25,000
31 March By Balance c/d 50,400

2,04,000 2,04,000

1 April To Balance b/d 50,400

Dr. CAPITAL A/C Cr.
Date Particular J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
31 March To Balance c/d 2,00,000 1 March By Cash A/C 2,00,000

2,00,000 2,00,000

1 April By Balance b/d 2,00,000

Dr. PURCHASES A/C

Cr.
 Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
3 March To Cash A/C 30,000 31 March By Balance 50,000
c/d
6 March To Madhav A/c 20,000

50,000 50,000

1 April To Balance b/d 50,000

Dr. MADHAV A/C

Cr.

Date Particulars J. Amount Date Particulars J. Amount

F. (in ₹) F. (in ₹)
22 March To Cash A/C 15,000 6 March By Purchases 20,000
A/C
31 March To Balance c/d 7,400 6 March By Input CGST 1,200
A/C
6 March By Input SGST 1,200
A/C

22,400 22,400

1 April To Balance b/d 7,400

Dr. BANK A/C

Cr.
 Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
9 March To Cash A/C 80,000 12 March By Insurance 7,000
Premium A/C
14 March To Output CGST 1,500 31 March By Balance 1,01,000
A/C c/d
14 March To Output SGST 1,500
A/C
14 March To Sales A/C 25,000

1,08,000 1,08,000

1 April To Balance b/d 1,01,000

Dr. SALES A/C

Cr.

Date Particulars J. Amount Date Particulars J. Amount

F. (in ₹) F. (in ₹)
31 March To Balance c/d 35,000 14 March By Bank A/C 25,000
17 March By Shruti A/C 10,000

35,000 35,000

1 April By Balance 35,000

b/d
 Dr. INSURANCE PREMIUM A/C
Cr.

Date Particulars J. Amount Date Particulars J. Amount

F. (in ₹) F. (in ₹)
12 March To Bank A/C 7,000 31 March By Balance 7,000
c/d

7,000 7,000

Dr. COMMISSION A/C

Cr.
Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
31 March To Balance c/d 4,000 26 March By Cash A/C 4,000

4,000 4,000

Dr. SALARY A/C Cr.

Date Particulars J. Amount Date Particulars J. Amount

F. (in ₹) F. (in ₹)
31 March To Cash A/C 25,000 31 March By Balance 25,000
c/d

25,000 25,000
Dr. SHRUTI A/C Cr.
Date Particulars J. Amount Date Particulars J. Amount
 F. (in ₹) F. (in ₹)
17 March To Output CGST 600 31 March By Balance 11,200
A/C c/d
17 March To Output SGST 600
A/C
17 March To Sales A/C 10,000
11,200 11,200

1 April To Balance b/d 11,200

Dr. INPUT CGST A/C

Cr.
Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
3 March To Cash A/C 1,800 31 March By Balance 3,000
c/d
6 March To Madhav A/C 1,200

3,000 3,000

1 April To Balance b/d 3,000

Dr. INPUT SGST A/C Cr.
Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
3 March To Cash A/C 1,800 31 March By Balance 3,000
c/d
6 March To Madhav A/C 1,200

3,000 3,000

1 April To Balance b/d 3,000

Dr. OUTPUT CGST A/C
Cr.
 Date Particulars J. Amount Date Particulars J. Amount
F. (in ₹) F. (in ₹)
31 March To Balance c/d 2,100 14 March By Bank A/C 1,500
17 March By Shruti A/C 600

2,100 2,100

1 April By Balance 2,100

b/d

Dr. OUTPUT SGST A/C

Cr.

Date Particulars J. Amount Date Particulars J. Amount

F. (in ₹) F. (in ₹)
31 March To Balance c/d 2,100 14 March By Bank A/C 1,500
17 March By Shruti A/C 600

2,100 2,100

1 April By Balance 2,100

b/d

TRIAL BALANCE

Heads of Accounts L.F Debit Balance Credit Balance

 . (in ₹) (in ₹)
Cash A/C 50,400
Capital A/C 2,00,000
Purchases A/C 50,000
Madhav A/C 7,400
Bank A/C 51,000
Machinery A/C 50,000
Sales A/C 35,000
Shruti A/C 11,200
Input CGST A/C 3,000
Input SGST A/C 3,000
Output CGST A/C 2,100
Output SGST A/C 2,100
Insurance Premium A/C 7,000
Commission A/C 4,000
Salary A/C 25,000

TOTAL 2,50,600 2,50,600