The following are the accounts of National (Pvt) Ltd. for the month of
April 2012. Complete the Assignment within 2 hours and half. It is recommended for the biginners of studying Accounting package.
Question 01
Create the following chart of the accounts.
Assets:
Fixed assets:
Motor Vehicle - motor Vehicle at
cost
Office equipments - office equipments
at cost
Building – Building at cost
Current Assets:
Cash In Hand
HSBC
Commercial Bank
Cash Drawler
Inventory
Liabilities:
Long Term Liabilities:
Bank Loan – HSBC
Bank Loan – BOC
Debentures
Current Liabilities:
Electricity
Payable
Incomes:
Sales:
Accounting Books
Song Books
Science Books
Magazines
Novels
English Song CDs
Games CDs
Expenses:
Advertising Fee
Postage
Fuel Expenses
Depreciation:
Motor Vehicle
Office equipment
Building
Cost of Sales:
Purchase
Accounting Books
Song Books
Science Books
Magazines
Novels
English Song CDs
Game CDs
Question 02
Following are the balances as of 01/04/2012.
Fixed Assets:
At Cost: (Dr)
Motor Vehicle Rs. 125,000.00
Office Equipment Rs. 52,000.00
Building Rs. 200,000.00
Cash and Bank:
HSBC Rs. 400,000.00
Commercial Bank Rs. 250,000.00
Cash Drawer Rs. 35,000.00
Long Term Liabilities:
At Cost: (Cr)
Bank Loan – HSBC Rs. 500,000.00
Bank Loan – BOC Rs. 500,000.00
Debentures Rs. 50,000.00
Current Liabilities
Electricity Payable Rs. 2,000.00
Debtors Total Rs. 241,000.00
Amount Invoice #
Dilshan Book Service Rs.
75,000.00 0058741
Hello Limited Rs. 86,000.00 0064891
S. Mafas & Co. Rs. 80,000.00 0000256
Creditors Total Rs. 116,600.00
Amount Invoice #
A. Ranjith Rs. 25,000.00 0008978
Free Books (Pvt) Ltd. Rs. 56,800.00 0041542
Naveen’s Stores Rs. 35,800.00 0009012
Inventory
Code Description Units Cost
ACB-01/201 Accounting Books 20 Rs. 500.00
SCI-01/301 Science Books 30 Rs.1,000.00
MAG-01/801 Magazines 18 Rs. 650.00
COM-01/479 Computer Books 15 Rs. 850.00
NOV-02/01 Novels 05 Rs. 3,000.00
SGB-02/01 Song Books 10 Rs. 750.00
CDIS-02/01 English Song
CDs 50 Rs. 350.00
CDIG-02/01 Game CDs 20 Rs. 450.00
Question 03
Update the following transactions.
2nd April Purchase
the following books for credit from Free Book (pvt) Ltd.
Vendor
Invoice #0025896
Description Units Cost
Accounting Books 10 Rs. 500.00
Song Books 15 Rs. 750.00
Computer Books 15 Rs.
1,000.00
Magazines 30 Rs. 650.00
5th April Pays
the following expenses from HSBC.
Cheque # Account
Name Amount
725099 Advertising Rs. 22,000.00 + VAT
725099 Postage Rs. 2,500.00
725099 Utilities Rs. 1,250.00
+ VAT
725101 Fuel
Expenses Rs. 5,500.00
On the same day sold
the following items for credit to Asian Book Depot.
Invoice #00058973,
Customer p/o #258741
Description Units
Accounting Books 10
Computer Books 05
Game CDs 02
14th April received
payments deposits in HSBC
Invoices
# Amount Cheque #
Dilshan Books Services 0058741 Rs. 50,000.00 897456
Hello Limited 0064891 Rs. 60,000.00 457866
21st April following
is the credit sales to S. Mafaz & Co.
Invoices
#759812
Description Units
Science Books 30
Magazines 18
Novels 05
25th April Depreciate
the following accounts
Description Amount
Motor Vehicle Rs.
5,000.00
Office Equipment Rs. 6,275.00
Building Rs.
10,500.00
26th April pays
the following expenses from HSBC
Cheque # Account Name Amount
725102` Salary Rs. 15,000.00
725103 Salary Rs. 20,500.00
27th April pays
the following expenses from cash in hand
Index # Account Name Amount
701200 Postage Rs. 500.00
701201 Fuel Rs. 10,500.00
29th
April after completing all
the activities, create a backup in the shared folder with your name.
