Assignment –II

The transactions of Movva Engineering Consultants for the year 2007-08 is given in the table below.

Create the necessary ledger accounts and record the transactions.

THE TRASACTIONS FOR ASSIGNMENT-I OF PART I

SL NO DATE TRANSACTIONS
APRIL 2007
1 01/04/2018 Mr. Bhargav set up a firm called Movva Engineering Consultancy by
introducing cash of Rs. 250000.
2 02/04/2018 Mr. Bhargav opened a bank account with state bank of India for the
firm by depositing cash of Rs. 150000.
3 03/04/2018 Mr. Bhargav issued cheque and purchased the following fixed assets
for office use.
1. Furniture and Fittings-Rs.50000
2. Air-Conditioner- Rs. 35000
3. Office Equipment- Rs.25000
4 04/04/2018 Mr. Bhargav had rented an office space for Rs. 3000 per month on
April 1. 2018 and paid security Deposit of Rs. 30000 by cheque. He
also hired Mr. Srinivas as Accountant and Mr. Narayan as
Administrator on a monthly salary of Rs. 6500 and 5500 respectively.
5 05/04/2018 Movva Engineering Consultants entered in to a contract with
Rajaram & co. for offering consulting services at an agreed price of
80000 and received an advanced of Rs. 30000 by cheque.
6 06/04/2018 Movva Engineering Consultancy services received an invoice for Rs.
15000 cash from Gupta Associates towards printing of office
stationary.
7 07/04/2018 Mr. Bhargav Withdraw Rs. 15000 cash for his personal use.
8 08/04/2018 Paid Rs. 2750 in cash towards office maintance charges.
9 09/04/2018 Received Rs. 35000 in cheque from Rajaram & co (refer transaction
dated April 5, 2018)
10 10/04/2018 Paid by cheque Rs 5000 to Gupta Associates.
11 16/04/2018 Reimbursed conveyance bills of Rs. 1500 in cash to Srinivas.
12 17/04/2018 Received an invoice for Rs. 30000 Raised by Ganga Archiects towards
architect charges rendered by them.
13 18/04/2018 Received Rs. 15000 in cheque from khantaraj & Co. towards
consulting revenue.
14 19/04/2018 Received Rs.15000in cheque from Rajaram& co. towards full and
final settlement (Refer transaction dated April 5, 2018).
15 20/04/2018 Paid Rs. 1750 by cheque towards telephone charges.
16 21/04/2018 Paid salaries by cheque Rs. 12000.
17 22/04/2018 Paid Rs. 975 towards electricity charges in cash.
18 23/04/2018 Deposited cash in to bank Rs. 30000.
19 25/04/2018 Received a cheque Rs. 15000 from Agarwal associates towards
consulting revenue.
20 26/04/2018 Deposited cash in to bank Rs. 30000.
21 27/04/2018 Paid Rs. 3000 towards office rent by cheque.
22 29/04/18 Paid Rs. 30000 by cheque to Ganga Architects towards architect’s
charges.
23 30/04/2018 Mr. Bhargav Issued cheque and purchased two computers for Rs.
90000.