DAYANANDA SAGAR UNIVERSITY

CENTER FOR EXECUTIVE EDUCATION

EXECUTIVE – MBA- 2021
ACCOUNTING FOR MANAGERS
ASSIGNMENT I
NAME : PAVAN KUMAR K

Mr Surya successfully completing his post-graduation in business management in marketing specialization from DSU, Bengaluru, de-
cided to start a trading business on 01-04-2020. He is investing Rs. 25,00,000 via equity shares of Rs. 10 each in the business and
raised Rs. 50,00,000 from the general public by issuing equity shares of Rs. 10 each at par and further Rs. 25,00,000 by issue of 10%
debentures redeemable after 10 years. The company has been registered in the state of Karnataka under Indian Companies Act 2013
for which Rs 1,00,000 was spent. The business has been carried out for one-year period with reasonable transactions including buying
and selling of merchandise of his business.
Now you are asked to –
· Name the business and briefly describe the nature of the business started by him,
· List down minimum of fifty transactions that might have occurred during the course of the business from 1.4.2020 to
31.03.2021 including the initial investment and the fund mobilized,
· Journalize those transactions in the books of the company
· Prepare the necessary ledger accounts for the above transactions and
Show the Trial balance of the business as on the last date of the accounting period (31-03-2021).
 NAME OF THE BUSINESS : O Kart

Oil trading business

O Kart is an online oil store, with variety of available oils from the local manufacturers
O kart procures oil from the local manufacturers and sell it on online platform
Headquartered in Bangalore they provide services mainly in Bangalore and planning to expand their services in south India.
Purchase Register
1-Apr-20 to 31-Mar-21

Date Particulars Vch Type Vch No. Debit Credit

01-Apr-20 Dinesh & Co Purchase 1 52500.00

Purchase @ 5% 50000.00 Dr

CGST @ 2.5 % 1250.00 Dr

SGST @ 2.5 % 1250.00 Dr

01-May- Lucky Oils Purchase 2 78750.00

20

Purchase @ 5% 75000.00 Dr

CGST @ 2.5 % 1875.00 Dr

SGST @ 2.5 % 1875.00 Dr

01-Jun- Mohan Purchase 3 63000.00

20

Interstate Purchase @ 5% 60000.00 Dr

IGST @ 5% 3000.00 Dr

30-Jun- Lucky Oils Purchase 4 52500.00

20

Purchase @ 5% 50000.00 Dr

CGST @ 2.5 % 1250.00 Dr

 SGST @ 2.5 % 1250.00 Dr

26-Jul-20 Dinesh & Co Purchase 5 126000.00

Purchase @ 5% 120000.00 Dr

CGST @ 2.5 % 3000.00 Dr

SGST @ 2.5 % 3000.00 Dr

02-Jan- Mohith & Brothers Purchase 6 1050000.00

21

Purchase @ 5% 1000000.00 Dr

CGST @ 2.5 % 25000.00 Dr

SGST @ 2.5 % 25000.00 Dr

15-Feb- Mohan Purchase 7 945000.00

21

Interstate Purchase @ 5% 900000.00 Dr

IGST @ 5% 45000.00 Dr

Total: 2367750.00

Sales Register
1-Apr-20 to 31-Mar-21

Date Particulars Vch Type Vch Debit Credit

No

01-Apr- Dmart Sales 1 52500.00

20

Sales @ 5 % 50000.00 Cr
 CGST @ 2.5 % 1250.00 Cr

SGST @ 2.5 % 1250.00 Cr

25-Apr- Vikranth.Co Sales 2 103950.00

20

Interstate Sales @ 5% 99000.00 Cr

IGST @ 5% 4950.00 Cr

15-May- Dmart Sales 3 16800.00

20

Sales @ 5 % 16000.00 Cr

CGST @ 2.5 % 400.00 Cr

SGST @ 2.5 % 400.00 Cr

13-Jun- More Mega Store Sales 4 63000.00

20

Sales @ 5 % 60000.00 Cr

CGST @ 2.5 % 1500.00 Cr

SGST @ 2.5 % 1500.00 Cr

26-Jul-20 Dmart Sales 5 525000.00

Sales @ 5 % 500000.00 Cr

CGST @ 2.5 % 12500.00 Cr

SGST @ 2.5 % 12500.00 Cr

10-Aug- Dmart Sales 6 1050000.00

20
 Sales @ 5 % 1000000.00 Cr

SGST @ 2.5 % 25000.00 Cr

CGST @ 2.5 % 25000.00 Cr

15-Nov- More Mega Store Sales 7 630000.00

20

Sales @ 5 % 600000.00 Cr

CGST @ 2.5 % 15000.00 Cr

SGST @ 2.5 % 15000.00 Cr

27-Jan- Aroma Traders Sales 8 1050000.00

20

Sales @ 5 % 1000000.00 Cr

CGST @ 2.5 % 25000.00 Cr

SGST @ 2.5 % 25000.00 Cr

Total: 3491250.00

Hdfc Bank Book

1-Apr-20 to 30-Apr-20

Date Particulars Vch Vch Debit Credit

Type No.

01-Apr- By Registration Expenses Pay- 1 100000.00

20 ment
 Expenses towards registra-
tion under companies act

01-Apr- To Share Application Receipt 1 2500000.00

20

APPLICATION MONEY RE-

CEIVED

01-Apr- To Share Application Receipt 2 5000000.00

20

APPLICATION MONEY RE-

CEIVED FROM GENEREAL
PUBLIC

01-Apr- To Debenture Application Receipt 3 2500000.00

20

RECEIPT OF APPLICATION
MONEY

20-Apr- By Cash Contra 1 20000.00

20

CASH WITHDRAWAL

20-Jun- To Dmart Receipt 4 525000.00

20

20-Aug- To More Mega Store Receipt 5 63000.00

20

15-Jul-20 By Mohith & Brothers Pay- 4 1050000.00

ment

15-Aug- By Dinesh & Co Pay- 5 126000.00

20 ment

22-Sep- By Lucky Oils Pay- 6 52500.00

20 ment
11-Nov- By Reddy Appliances Pay- 7 192000.00
20 ment

30-Nov- By (as per details) Pay- 10 500000.00

20 ment

Lakshmi 50000.00 Dr

Lohith 65000.00 Dr

Pavan 50000.00 Dr

Kiran 30000.00 Dr

Kirthi 25000.00 Dr

Nikitha 42000.00 Dr

Jaga 60000.00 Dr

Praveen 75000.00 Dr

Suresh 53000.00 Dr

Ram 50000.00 Dr

15-Dec- By Reddy Appliances Pay- 8 236000.00

20 ment

13-Dec- By PT Payment Pay- 9 2000.00

20 ment

10588000.00 2278500.00

By Closing Balance 8309500.00

10588000.00 10588000.0
0
Cash Book
1-Apr-20 to 31-Mar-21

Date Particulars Vch Vch Debit Credit

Type No.

02-Apr- To Hdfc Bank Contra 1 20000.00

20

CASH WITHDRAWAL

15-May- By Office Maintenance Pay- 2 5000.00

20 ment

OFFICE MAINTENANCE
EXPENSES

20-Jun- By Freight Charges Pay- 3 6000.00

20 ment

TRANSPORTATION
CHARGES PAID

15-Jun- By Office Maintenance Pay- 11 5000.00

20 ment

OFFICE MAINTENANCE
EXPENSES

10-Aug- By Office Expenses Pay- 12 4000.00

20 ment

OFFICE EXPENSES

20000.00 20000.0
0
Journal Register
1-Apr-20 to 31-Mar-21

Date Particulars Vch Type Vch No. Debit Credit

Amount Amount

01-Apr- Share Application Journal 1 2500000.00

20

Share Capital 2500000.00 Cr

TRANSFER OF APPLICATION MONEY TO

EQUITY SHARES

01-Apr- Share Application Journal 2 5000000.00

20

Share Capital 5000000.00 Cr

TRANSFER OF APPLICATION MONEY TO

EQUITY SHARES

01-Apr- Debenture Application Journal 3 2500000.00

20

Debentures 2500000.00 Cr

TRANSFER OF APPLICATION MONEY TO

DEBENTURES ACCOUNT

10-May- COMPUTERS Journal 4 150000.00

20

CGST @ 14% 21000.00 Dr

SGST @ 14% 21000.00 Dr

 Reddy Appliances 192000.00 Cr

PURCHASE OF COMPUTER FOR OFFICE

USE

12-May- Furnitures Journal 5 200000.00

20

CGST @ 9% 18000.00 Dr

SGST @ 9 % 18000.00 Dr

Reddy Appliances 236000.00 Cr

FURNITURE FOR OFFICE USE

30-11-20 Salary Journal 6 502000.00

Lakshmi 50000.00 Cr

Kirthi 25000.00 Cr

Kiran 30000.00 Cr

Nikitha 42000.00 Cr

Suresh 53000.00 Cr

Lohith 65000.00 Cr

Ram 50000.00 Cr

Jaga 60000.00 Cr

Praveen 75000.00 Cr

Pavan 50000.00 Cr

PT Payment 2000.00 Cr
 SALARY PAID

Total: 10852000.00

Profit & Loss A/c

1-Apr-20 to 30-Mar-21

O Kart O Kart

Particulars 1-Apr-20 to 2-Apr-20 Particulars 1-Apr-20 to 2-Apr-20

Purchase Accounts 2255000.00 Sales Accounts 3325000.00

Interstate Purchase @ 5% 960000.00 Interstate Sales @ 5% 99000.00

Purchase @ 5% 1295000.00 Sales @ 5 % 3226000.00

Gross Profit c/o 1070000.00 3325000.00

3325000.00 Gross Profit b/f 1070000.0

0

Indirect Expenses 622000.00

Freight Charges 6000.00

Office Expenses 4000.00

Office Maintenance 10000.00

Registration Expenses 100000.00

Salary 502000.00

Nett Profit 448000.00

Total 1070000.00 Total 1070000.00

Balance Sheet
1-Apr-20 to 30-Mar-21

O Kart O Kart

Liabilities as at 2-Apr-20 Assets as at 2-Apr-20

Capital Account 7500000.00 Fixed Assets 350000.00

Share Capital 7500000.00 COMPUTERS 150000.00

Loans (Liability) 2500000.00 Furnitures 200000.00

Debentures 2500000.00 Current Assets 11212750.00

Current Liabilities 1114750.00 Closing Stock

Duties & Taxes -24500.00 Sundry Debtors 2903250.00

Sundry Creditors 1139250.00 Cash-in-Hand

Share Capital Bank Accounts 8309500.00

Staff Salary & Benefits

Debenture Application

Profit & Loss A/c 448000.00

Opening Balance

Current Period 448000.00

Total 11562750.00 Total 11562750.0

0

Trial Balance
1-Apr-20 to 31-Mar-21
 O Kart

Particulars 1-Apr-20 to 31-Mar-21

Opening Transactions Closing

Balance Debit Credit Balance

Capital Account 7500000.00 7500000.00 Cr

Share Capital 7500000.00 7500000.00 Cr

Loans (Liability) 2500000.00 2500000.00 Cr

Debentures 2500000.00 2500000.00 Cr

Current Liabilities 12349250.00 13464000.00 1114750.00 Cr

Duties & Taxes 192750.00 168250.00 24500.00 Dr

Sundry Creditors 1656500.00 2795750.00 1139250.00 Cr

Share Capital 7500000.00 7500000.00

Staff Salary & Benefits 500000.00 500000.00

Debenture Application 2500000.00 2500000.00

Fixed Assets 350000.00 350000.00 Dr

COMPUTERS 150000.00 150000.00 Dr

Furnitures 200000.00 200000.00 Dr

Current Assets 14099250.00 2886500.00 11212750.00 Dr

Sundry Debtors 3491250.00 588000.00 2903250.00 Dr

Cash-in-Hand 20000.00 20000.00

Bank Accounts 10588000.00 2278500.00 8309500.00 Dr

Sales Accounts 3325000.00 3325000.00 Cr

Interstate Sales @ 5% 99000.00 99000.00 Cr

Sales @ 5 % 3226000.00 3226000.00 Cr

Purchase Accounts 2255000.00 2255000.00 Dr

Interstate Purchase @ 5% 960000.00 960000.00 Dr

Purchase @ 5% 1295000.00 1295000.00 Dr

Indirect Expenses 622000.00 622000.00 Dr

Freight Charges 6000.00 6000.00 Dr

Office Expenses 4000.00 4000.00 Dr

Office Maintenance 10000.00 10000.00 Dr

Registration Expenses 100000.00 100000.00 Dr

Salary 502000.00 502000.00 Dr

Grand Total 29675500.00 29675500.00