ACCOUNTING FOR MANAGERS ASSIGNMENT 1:

Q) Mr Rohan after successfully completing his post graduation in business management in marketing specialization from DSU, Bengaluru, decided to start a trading business on 01-04- 2019 by investing Rs. 25,00,000 in the equity shares of the newly started company and raised Rs. 25,00,000 from the general public by issuing equity shares of Rs. 10 each at par and further Rs. 50,00,000 by issue of 10% debentures redeemable after 10 years. The company has been registered as 'Rohan Fashions Apparels Ltd.' under Indian Companies Act 2013 for which he spent Rs 1,00,000. The business has been carried out for one year period of time with reasonable transactions of buying and selling of apparels in whole sale.

Now you are asked to do:

1. List down minimum of thirty transactions that might have occurred during the course of his business.

2. Journalize those transactions in the books of the company.

3. Prepare the necessary ledger accounts for the above transactions.

4. Show the Trial balance of the business as on the last date of the accounting period (31- 03-2020).

Examples of Business Transactions are.....................

Paid rent to landlord Rs 3000

Paid salary to manager Rs 1000

Opened bank account in SBI by depositing Rs.5000

Purchased 1500 gents tracksuits for Rs. 3,00,000

Paid advertisement expenses Rs.25,000

Sold 1000 tracksuits to Trinity Apparels Pvt Ltd for Rs. 4,00,000

Format for you Reference: Format of Journal Date Particulars L/F Debit Credit No. Format of Ledger Dr Name of the Account Cr Date Particulars J/F Amount | Date |Particular J/F Amount Format of Trial balance S. No Name of the Account Debit Credit