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Financial Management Assignment

This document contains accounting records for ABC Company for January 2010. It shows transactions in various accounts including capital, loan, purchases, sales, rent, electricity, and water. The balances are carried forward at the end of January 2010 and beginning of February 2010 for each account. Major transactions include obtaining a loan of $500,000, purchases of office equipment for $200,000, sales of $80,000 and $120,000, and expenses of $60,000 for rent and $15,000 for electricity.

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Twaha R. Kabandika
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84 views

Financial Management Assignment

This document contains accounting records for ABC Company for January 2010. It shows transactions in various accounts including capital, loan, purchases, sales, rent, electricity, and water. The balances are carried forward at the end of January 2010 and beginning of February 2010 for each account. Major transactions include obtaining a loan of $500,000, purchases of office equipment for $200,000, sales of $80,000 and $120,000, and expenses of $60,000 for rent and $15,000 for electricity.

Uploaded by

Twaha R. Kabandika
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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DR.

ABC COMPANY CASH ACOUNT [1] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

1/Jan/10 Capital 2 100,000 05/Jan/10 Offica equipment 4 200,000

3/Jan/10 Loan from ACB 3 500,000 06/Jan/10 Purchases 5 50,000

17/Jan/10 Sales 9 80,000 07/Jan/10 Rent 6 60,000

24/Jan/10 Akasha 8 90,000 20/Jan/10 Masumin 7 50,000

30/Jan/10 Electricity 10 15,000

30/Jan/10 Water 11 5,000

31/Jan/10 Balance c/d 390,000

770,000 770,000

1/Feb/10 Balance b/d 390,000

DR. CAPITAL ACOUNT [2] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

31/Jan/10 Balance c/d 100,000 01/Jan/10 Cash 1 100,000

100,000 100,000

01/Feb/10 Balance b/d 100,000

DR. LOAN FROM ACB BANK A/C [3] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

31/Jan/10 Balance c/d 500,000 03/Jan/10 Cash 1 500,000

500,000 500,000

01/Feb/10 Balance b/d 500,000


DR. OFFICE EQUIPMENT A/C [4] CR
Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

5/Jan/10 Cash 1 200,000 31/Jan/10 Balance c/d 200,000

200,000 200,000

01/Feb/10 Balance b/d 200,000

DR. PURCHASES A/C [5] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

6/Jan/10 Cash 1 50,000 31/Jan/10 Balance c/d 120,000

15/Jan/10 Masumini 7 70,000

120,000 120,000

01/Feb/10 Balance b/d 120,000

DR. RENT A/C [6] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

7/Jan/10 Cash 1 60,000 31/Jan/10 Balance c/d 60,000

60,000 60,000

01/Feb/10 Balance b/d 60,000

DR. MASUMIN A/C [7] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

7/Jan/10 Cash 50,000 1/15/2010 Purchases 5 70,000

31/Jan/10 Balance c/d 20,000

70,000 70,000
01/Feb/10 Balance b/d 20,000

DR. AKASHA A/C [8] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

16/Jan/10 Sales 9 120,000 1/24/2010 Cash 1 90,000

31/Jan/10 Balance c/d 30,000

120,000 120,000

01/Feb/10 Balance b/d 20,000

DR. SALES A/C [9] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

31/Jan/10 Balance c/d 200,000 1/16/2010 Akasha 8 120,000

17/Jan/10 Cash 1 80,000

200,000 200,000

01/Feb/10 Balance b/d 200,000

DR. ELECTRICIY A/C [10] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

30/Jan/10 Cash 1 15,000 1/31/2010 Balance c/d 15,000

15,000 15,000

01/Feb/10 Balance b/d 15,000

DR. WATER A/C [11] CR


Date Particulars Folio Amount $ Date Particulars Folio Amount $
No: No:

30/Jan/10 Cash 1 5,000 31/Jan/10 Balance c/d 30,000


5,000 5,000

01/Feb/10 Balance b/d 5,000

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