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BYCULLA COMMERCIAL INSTITUTE

ACCOUNTS WITH INVENTORY EXAM – PAPER I

COOL COMFORT ENTERPRISES

PRODUCT LIST:-

PUR PRICE SALES PRICE


COMPANY PRODUCT
(PER UNIT) (PER UNIT)
SYMPHONY BREATH FRESH 3,00,000 3,50,000
SAMSUNG BREATH EASY 2,50,000 3,25,000
KENSTAR BREATH SMART 3,50,000 4,00,000

PURCHASE TRANSACTIONS:

PRICE PER TOTAL


DATE REF NO. PARTY A/C ITEMS QTY.
UNIT PRICE
1.1.20XX PR1 SYMPHONY BREATH FRESH 4 3,00,000 12,00,000
5.1.20XX PR2 KENSTAR BREATH SMART 3 3,50,000 10,50,000
10.1.20XX PR3 SAMSUNG BREATH EASY 4 2,50,000 10,00,000
22.1.20XX PR4 SYMPHONY BREATH FRESH 3 3,00,000 9,00,000
26.1.20XX PR5 KENSTAR BREATH SMART 2 3,50,000 7,00,000
29.1.20XX PR6 SAMSUNG BREATH EASY 4 2,50,000 10,00,000
31.1.20XX PR7 KENSTAR BREATH SMART 3 3,50,000 10,50,000

SALES TRANSACTIONS:

REF MODE OF PRICE TOTAL


DATE PARTY A/C ITEMS QTY
NO. PAYMENT PER UNIT PRICE
2.1.20XX S1 Wilson Brothers BREATH EASY 3 Chq 3,25,000 9,75,000
12.1.20XX S2 Divya Pandit BREATH SMART 2 Cash 4,00,000 8,00,000
18.1.20XX S3 Dimple Sinha BREATH FRESH 1 Credit 3,50,000 3,50,000
22.1.20XX S4 Patel & Co. BREATH EASY 3 Chq 3,25,000 9,75,000
25.1.20XX S5 Roy & Company BREATH FRESH 2 Credit 3,50,000 7,00,000
28.1.20XX S6 Rohan BREATH SMART 3 Cash 4,00,000 12,00,000
30.1.20XX S7 Ronald’s & Donald’s BREATH EASY 2 Credit 3,25,000 6,50,000

RECEIPT TRANSACTIONS:

REC. MODE OF
DATE PARTY A/C AMOUNT
NO. PAYMENT
1.1.20XX R1 Desai’s Capital Chq 6,50,000
8.1.20XX R2 Yes Bank Loan Chq 2,00,000
15.1.20XX R3 Repair’s & Servicing Cash 65,000
25.1.20XX R4 Dimple Sinha Chq 3,00,000
31.1.20XX R6 Repair’s & Servicing Cash 70,000
PAYMENT TRANSACTIONS:

MODE OF
DATE PAY. NO. PARTY A/C AMOUNT
PAYMENT
2.1.20XX PY1 Vehicle Charges Chq 3,000
8.1.20XX PY2 Office Furniture Cash 7,500
20.1.20XX PY3 Kenstar Chq 7,00,000
25.1.20XX PY4 Symphony Cash 3,00,000
31.1.20XX PY5 Personal Secretary Salary Cash 12,000
31.1.20XX PY6 Interest Paid On Yes Bank Loan Chq 30,000

JOURNAL TRANSACTION:

DATE REF. NO PARTY A/C AMOUNT


1.1.20XX J1 Purchase Of Personal Computer From Shree Computers. Ltd. On Credit. 65,000
M/S COLD TRADERS
TRIAL BALANCE FOR THE MONTH OF JAN-20XX

Particular Debit Credit


CAPITAL ACCOUNT 6,50,000.00
Desai’s Capital 6,50,000.00

LOANS (LIABILITY ) 2,00,000.00


Secured Loans 2,00,000.00
CURRENT LIABILITIES 59,65,000.00
Sundry Creditors 59,65,000.00
FIXED ASSETS 72,500.00
Office Furniture 7,500.00
Personal Computer 65,000.00
CURRENT ASSETS 55,82,000.00
Opening Stock
Sundry Debtors 14,00,000.00
Cash-in-hand 18,15,500.00
Bank Accounts 23,67,000.00
SALES ACCOUNTS 56,50,000.00
Sales Kenstar Breath Smart 20,00,000.00
Sales Samsung Breath Easy 26,00,000.00
Sales Symphony Breath Fresh 10,50,000.00
PURCHASE ACCOUNTS 69,00,000.00
Pur Kenstar Breath Smart 28,00,000.00
Pur Samsung Breath Easy 20,00,000.00
Pur Symphony Breath Fresh 21,00,000.00
INDIRECT INCOMES 1,35,000.00
Repairs & Servicing 1,35,000.00
INDIRECT EXPENSES 45,000.00
Interest Paid On Yes Bank Loan 30,000.00
Personal Secretary Salary 12,000.00
Vehicle Charges 3,000.00

GRAND TOTALS 1,26,00,000.00 1,26,00,000.00