J E C T

Y PR O
TA N C
C O U N
A C
 SESSION 2020-21

Name: Shafia Rahman

Class: XII ‘C’
Roll No.: 51
 CERTIFICATE

This is to certify that this project of Accountancy

has been prepared under my guidance and supervision by
Shafia Rahman of Class XII ‘C’.
To the best of my knowledge it is an original piece of work
and is worthy of consideration.
 PREFACE
This project of Accountancy imparts knowledge about
the
various aspects of accounting. It clearly describes for a
better
understanding, all the various concepts which one might
encounter while going through the project. The project
has been
logically arranged for effective understanding and ease
of
deriving conclusion from it. The project includes ten
different
 ACKNOWLEDGEMENT
would like to express my special thanks and gratitude to my
earned teacher guide, Amit sir and to the worthy Principal,
Father James George who provided me not only motivation
t also valuable guidance to complete this challenging proje
his project gave me ample opportunity to do research, revise
ch enriched and broadened my knowledge and understandi
this area. I am sincerely indebted to them and all others wh
helped me make this project successful. Thank you.
 INDEX
1.
2.
3.
Hsfambd,
 INTRODUCTION
Accounting is a systematic process of
identifying,
Measuring, recording, classifying,
summarizing,
Interpreting and communicating financial
information to users.
It initiates the preparation of journal,
where both aspects of all transactions are
posted. This further leads to the
preparation of specific ledger accounts.
 QUESTION
shok of Delhi started a business on 1 st April, 201
with Machinery of Rs. 4,00,000 and Furniture of
1,00,000. He purchased these assets from Delhi
by cheque from his Savings Account. He introdu
apital of Rs. 1,00,000 in cash. CGST and SGST
d @6% each on intra-state and @12% on inter-
ransactions except transactions marked with(*)
epare Journal, Ledger, Trial Balance and Balan
Sheet for the following transactions.
 2019 PARTICULARS AMOUNT

April 1 Purchased goods for cash from Ram, Delhi 55,000

April 4 Purchased goods from Naresh, Haryana 40,000
April 6 Sold goods for cash 70,000
April 12 Cash deposited into bank* 80,000
April 14 Purchased machinery for cash 10,000
April 15 Sold goods to Garg Bros., Delhi 30,000
April 16 Returned goods to Naresh 2,000
April 28 Paid salary for the month of April* 10,000
April 30 Received bank interest* 400
April 30 Paid for courier charges 1,000
 JOURNAL
urnal is a book in which transactions are record
a chronological order. It is also called the Book
Original Entry since all transactions are initially
rded in it. Transactions are recorded in the jour
k from the accounting vouchers. This book reco
h aspects of transactions, i.e., debit and credit us
Double Entry System of Book Keeping. A brief
rration of the transaction is also written after th
entry.
 In the Books of Ashok, Delhi
JOURNAL
DATE PARTICULARS L.F. Dr.(Rs.) Cr.(Rs.)
2019
April 1 Machinery A/c ----Dr. 4,00,000
Furniture A/c ----Dr. 1,00,000
Input CGST A/c ----Dr. 30,000
Input SGST A/c ----Dr. 30,000
To Capital A/c 5,60,000
(Being the business started with machinery and
furniture, paid CGST and SGST @ 6% each,
amount paid from Savings Account)

April 1 Cash A/c ----Dr. 1,00,000 1,00,000

To Capital A/c
(Being the capital introduced in cash)
April 1 Purchases A/c ----Dr. 55,000
Input CGST A/c ----Dr. 3,300
Input SGST A/c ----Dr. 3,300
To Cash A/c 61,600
(Being the intra-state purchase of goods for cash,
paid CGST and SGST @ 6% each)
DATE PARTICULARS L.F. Dr.(Rs.) Cr.(Rs.)
2019
April 4 Purchases A/c ----Dr. 40,000
Input IGST A/c ----Dr. 4,800
To Naresh 44,800
(Being the inter-state purchase of goods on
credit from Naresh, plus IGST @12%)
April 6 Cash A/c ----Dr. 78,400
To Sales A/c 70,000
To Output CGST A/c 4,200
To Output SGST A/c 4,200
(Being the intra-state sale of goods for cash,
charged CGST and SGST @6% each)
April 12 Bank A/c 80,000 80,000
----Dr.
To Cash A/c
(Being the cash deposited into bank)
DATE PARTICULARS L.F. Dr.(Rs.) Cr.(Rs.)

2019

April 14 Machinery A/c 10,000

----Dr. 600
Input CGST A/c 600
----Dr. 11,200
Input SGST A/c ----Dr.
To Cash A/c
(Being the machinery purchased for cash, paid
CGST and SGST @6% each)
April 15 Garg Bros. ----Dr. 33,600
To Sales A/c 30,000
To Output CGST A/c 1,800
To Output SGST A/c 1,800
(Being the intra-state sale of goods to Garg Bros.,
charged CGST and SGST @6% each)
April 16 Naresh 2,240
----Dr. 2,000
To Returns Outward A/c 240
To Input IGST A/c
(Being the goods returned to Naresh and Input
IGST reversed)
DATE PARTICULARS L.F. Dr.(Rs.) Cr.(Rs.)
2019
April 28 Salaries A/c ----Dr. 10,000
To Cash A/c 10,000
(Being the salaries for the month of April paid in
cash)
April 30 Bank A/c 400
----Dr. 400
To Interest Received A/c
(Being the bank interest received)
April 30 Postage and Courier Expenses A/c ----Dr. 1,000
Input CGST A/c ----Dr. 60
Input SGST A/c 60
----Dr. 1,120
To Cash A/c
(Being the courier charges paid along with
CGST and SGST @6% each)
 LEDGER
l the accounts put together make a ledger. Statin
erently, Ledger is a book in which various accou
are opened and transactions are posted from the
urnal Book. It is also called the book of final ent
provides complete information about a particul
ount and initiates the preparation of Trial Balan
hows the current balances in all accounts, theref
ummarizes the effect of all transactions on asset
liabilities, capital, incomes and expenditures.
Dr. MACHINERY A/c Cr.
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 1 To Capital A/c 4,00,000 April 30 By Balance c/d 4,10,000
April 14 To Cash A/c 10,000
4,10,000 4,10,000
May 1 To Balance b/d 4,10,000

Dr. FURNITURE A/c Cr.

DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 1 To Capital A/c 1,00,000 April 30 By Balance c/d 1,00,000
1,00,000 1,00,000
May 1 To Balance b/d 1,00,000

.
Dr. CASH A/c Cr.
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 1 To Capital A/c 1,00,000 April 1 By Purchases A/c 55,000
April 6 To Sales A/c 70,000 April 1 By Input CGST 3,300
A/c
April 6 To Output CGST 4,200 April 1 By Input SGST 3,300
A/c A/c
April 6 To Output SGST 4,200 April 12 By Bank A/c 80,000
A/c
April 14 By Machinery A/c 10,000
April 14 By Input CGST 600
A/c
April 14 By Input SGST 600
A/c
April 28 By Salaries A/c 10,000
April 30 By Postage and 1,000
Courier Expense
A/c
Dr. Cr.
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 30 By Input CGST 60
A/c
April 30 By Input SGST 60
A/c
April 30 By Balance c/d 14,480
1,78,400 1,78,400
May 1 To Balance b/d 14,480
 CAPITAL A/c
Dr. Cr.
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 30 To Balance c/d 6,60,000 April 11 By Machinery A/c 4,00,000
April 1 By Furniture A/c 1,00,000
April 1 By Input CGST 30,000
A/c
April 1 By Input SGST 30,000
A/c
April 1 By Cash A/c 1,00,000
6,60,000 6,60,000
May 1 By Balance b/d 6,60,000
 PURCHASES A/c
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 1 To Cash A/c 55,000 April 30 95,000
April 4 To Naresh 40,000
95,000 95,000
May 1 To Balance b/d 95,000

SALES A/c
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 30 To Balance c/d 1,00,000 April 6 By Cash A/c 70,000
April 15 By Garg Bros. A/c 30,000
1,00,000 1,00,000
May 1 By Balance b/d 1,00,000
 BANK A/c
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 12 To Cash A/c 80,000 April 30 80,400
April 30 To Interest 400
Received A/c
80,400 80,400
May 1 To Balance b/d 80,400

INPUT IGST A/c

DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 4 To Naresh 4,800 April 16 By Naresh 240
April 30 By Balance c/d 4,560
4,800 4,800
May 1 To Balance b/d 4,560
 OUTPUT CGST A/c
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 30 To Balance c/d 6,000 April 6 By Cash A/c 4,200
April 15 By Garg Bros. 1,800
6,000 6,000
May 1 By Balance b/d 6,000

OUTPUT SGST A/c

DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 30 To Balance c/d 6,000 April 6 By Cash A/c 4,200
April 15 By Garg Bros. 1,800
6,000 6,000
May 1 By Balance b/d 6,000
 NARESH A/c
DATE PARTICULARS J.F. Rs. DATE PARTICULARS J.F. Rs.
2019 2019
April 16 To Returns 2,000 April 4 By Purchases A/c 40,000
Outward A/c
April 16 To Input IGST A/c 240 April 4 By Input IGST 4,800
A/c
April 30 To Balance c/d 42,560
44,800 44,800
May 1 By Balance b/d 42,560