financial accounting mgt101 power point slides lecture 11
TRANSCRIPT
Financial Accounting
1
Lecture – 11
35,000Balance
225,000260,000
Cash Account Code 01
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Cash Account
200,000Capital Introd.0101-01---
60,000Goods sold0606-01---
195,000Cash deposited0201-01---
10,000Cash deposited1531-01---
20,000Goods purch.0708-01---
260,000 260,000
Financial Accounting
2
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Total
Financial Accounting
3
Lecture – 11
130,000Balance
95,000225,000
Bank Account
195,000Cash deposited0201-01---
20,000Received from B1225-01---
10,000Cash deposited1531-01---
15,000Furniture purch.0302-01---
50,000Vehicle purch.0403-01---
5,000Salaries paid1331-01---
25,000Paid to Mr. A1121-01---
Bank Account Code 02
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
225,000 225,000
Financial Accounting
4
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Total
Financial Accounting
5
Lecture – 11
200,000Balance
200,0000
Capital Account Code 03
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Capital Account
200,000Capital Introd.0101-01---
200,000 200,000
Financial Accounting
6
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Total
Financial Accounting
7
Lecture – 11
15,000Balance
015,000
Furniture Account Code 04
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Furniture Account
15,000Furniture purch.0302-01---
15,000 15,000
Financial Accounting
8
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Total
Financial Accounting
9
Lecture – 11
50,000Balance
050,000
Vehicle Account Code 05
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Vehicle Account
50,000Furniture purch.0403-01---
50,000 50,000
Financial Accounting
10
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Total
Financial Accounting
11
Lecture – 11
60,000Balance
10,00070,000
Purchases Account Code 06
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Purchases Account
50,000Goods purch.0505-01---
20,000Goods purch.0708-01---
10,000Purchase return0810-01---
70,000 70,000
Financial Accounting
12
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Total
Financial Accounting
13
Lecture – 11
15,000Balance
50,00035,000
Mr. A (Creditor) Account Code 07
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Mr. A (Supplier)
10,000Purchase return0810-01---
25,000Paid to Mr. A1121-01---
50,000Goods purch.0505-01---
50,00050,000
Financial Accounting
14
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Total
Financial Accounting
15
Lecture – 11
95,000Balance
100,0005,000
Sales Account Code 08
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Sales
60,000Goods sold0606-01---
40,000Goods sold0912-01---
5,000Sales return1018-01---
100,000100,000
Financial Accounting
16
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Total
Financial Accounting
17
Lecture – 11
15,000Balance
25,00040,000
Mr. B (Debtor) Account Code 09
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Mr. B (Customer)
40,000Goods sold0912-01--- 5,000Sales return1018-01---
20,000Received from B1225-01---
40,000 40,000
Financial Accounting
18
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Total
Financial Accounting
19
Lecture – 11
5,000Balance
05,000
Salaries Account Code 10
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Salaries
5,000Salaries paid1331-01---
5,000 5,000
Financial Accounting
20
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Salaries 10 5,000
Total
Financial Accounting
21
Lecture – 11
20,000Balance
020,000
Expenses Account Code 11
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Expenses
20,000Exp. accrued1431-01---
20,000 20,000
Financial Accounting
22
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Salaries 10 5,000
Expenses 11 20,000
Total
Financial Accounting
23
Lecture – 11
20,000Balance
20,0000
Expenses Payable Account Code 12
Cr. Rs.NarrationNo.DateDr. Rs.NarrationNo.Date
Expenses Payable
20,000Exp. accrued1431-01---
20,000 20,000
Financial Accounting
24
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Salaries 10 5,000
Expenses 11 20,000
Expenses Payable 12 20,000
Total 330,000 330,000
Financial Accounting
25
Lecture – 11
Name Of The Organization (Ali Traders)
Trial Balance As On ( January 31, 20--)
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Salaries 10 5,000
Expenses 11 20,000
Expenses Payable 12 20,000
Total 330,000 330,000
Financial Accounting
26
Lecture – 11
Ali Traders
Trial Balance As On January 31, 20--
Title of Account Code Dr. Rs. Cr. Rs.
Cash Account 01 35,000
Bank Account 02 130,000
Capital Account 03 200,000
Furniture Account 04 15,000
Vehicle Account 05 50,000
Purchases Account 06 60,000
Mr. A (Creditor) 07 15,000
Sales 08 95,000
Mr. B (Debtor) 09 15,000
Salaries 10 5,000
Expenses 11 20,000
Expenses Payable 12 20,000
Total 330,000 330,000
Financial Accounting
27
Lecture – 11
Ali Traders Profit and Loss Account
Name of the Entity (Ali Traders)
Profit and Loss Account for the Month Ending January 31, 20--
Debit Credit
Particulars Rs. Particulars Rs.
Cost of Sale (Purchases) 60,000 Income 95,000
Gross Profit(income – Cost of Sale)
35,000
Total 95,000 Total 95,000
Admin ExpensesSalaries 5,000Expenses 20,000
25,000 Gross Profit 35,000
Net Profit(gross Profit – expenses)
10,000
Total 35,000 Total 35,000
Financial Accounting
28
Lecture – 11
Ali Traders Profit and Loss Account
Name of the Entity (Ali Traders)
Profit and Loss Account for the Month Ending January 31, 20--
Particulars AmountRs.
AmountRs.
Income / Sales / RevenueLess: Cost of Goods Sold
95,000(60,000)
Gross Profit
Less: Administrative Expenses (25,000)
35,000
(25,000)
Net Profit 10,000