Accounting Analytics

Course code: MGT3010

D.A.1
Name: Rohit Choudhary
Reg.No.: 20MIA1069

Prepare final accounts using excel for transactions of any company

Transactions :

2023 Tramsactions ₹
01-
Apr Commenced business with cash 1,50,000
1 Goods purchased from Manisha 36,000
1 Stationary purchased for cash 2,200
2 Opened a banka account with SBI for 35000
2 Goods sold to priya 16,000
3 Received a cheque from priya 16000
5 sold goods to nidhi 14,000
8 nidhi paid in cash 14,000
10 purchased goods for 20000 on credit from Ritu 20,000
14 Insurance paid by cheque 6,000
18 Paid rent 2,000
20 Goods costing 1500 given as charity
24 Purchased office furniture 11,200
29 cash withdrawn for household purpose 5,000
30 Interest received in cash 1,200
30 cash sales 2,300
30 Commision paid by cheque 3,000
30 Telephone bill paid by cheque 2,000
30 Salaries paid in cash 12,000
1. Chart of accounts prepared for the given transactions:
Formula used for preparing chart of accounts:
L.F.:
=IF(A2="","",ROW(1:1))

2. Journal entries of the given transactions:

Steps involved:
1. Validated the name of accounts from the chart of accounts
sheet.
2. Get the L.F. value from the chart of accounts sheet using the
formula
=IF(A4="","",IFERROR(VLOOKUP(B4,'Chart of
Accounts'!A$2:D$28,2,FALSE),"No Account"))
3. Passed the journal entries in the respective accounts
4. Validated the balance of the debit and credit columns using
the formula :
=IF(SUM(D4:D1104)=SUM(E4:E1169),"Correct","")
=IF(SUM(D4:D1104)=SUM(E4:E1169),"","Error")
 Journal Entries
Total 349400 349400
Date Particulars L.F. Debit Rs. Credit Rs. Correct
01-04- ₹
2023 CASH 1 1,50,000.00
01-04- ₹
2023 CAPITAL ACCOUNT 2 1,50,000.00
01-04-
2023 PURCHASES 10 ₹ 36,000.00
01-04-
2023 MANISHA 18 ₹ 36,000.00
01-04-
2023 STATIONARY 3 ₹ 2,200.00
01-04-
2023 CASH 1 ₹ 2,200.00
02-04-
2023 BANK ACCOUNT 6 ₹ 35,000.00
02-04-
2023 CASH 1 ₹ 35,000.00
02-04-
2023 PRIYA 5 ₹ 16,000.00
02-04-
2023 SALES 4 ₹ 16,000.00
03-04-
2023 BANK ACCOUNT 6 ₹ 16,000.00
03-04-
2023 PRIYA 5 ₹ 16,000.00
05-04-
2023 NIDHI 17 ₹ 14,000.00
05-04-
2023 SALES 4 ₹ 14,000.00
08-04-
2023 CASH 1 ₹ 14,000.00
08-04-
2023 NIDHI 17 ₹ 14,000.00
10-04-
2023 PURCHASES 10 ₹ 20,000.00
10-04-
2023 RITU 13 ₹ 20,000.00
14-04-
2023 INSURANCE PREMIUM 7 ₹ 6,000.00
14-04-
2023 BANK ACCOUNT 6 ₹ 6,000.00
18-04-
2023 RENT 11 ₹ 2,000.00
18-04-
2023 CASH 1 ₹ 2,000.00
 20-04-
2023 CHARITY 8 ₹ 1,500.00
20-04-
2023 PURCHASES 10 ₹ 1,500.00
24-04-
2023 FURNITURE 19 ₹ 11,200.00
24-04-
2023 CASH 1 ₹ 11,200.00
29-04-
2023 DRAWINGS 12 ₹ 5,000.00
29-04-
2023 CASH 1 ₹ 5,000.00
30-04-
2023 CASH 1 ₹ 1,200.00
30-04-
2023 INTEREST RECEIVED 9 ₹ 1,200.00
30-04-
2023 CASH 1 ₹ 2,300.00
30-04-
2023 SALES 4 ₹ 2,300.00
30-04-
2023 COMMISSION 14 ₹ 3,000.00
30-04-
2023 BANK ACCOUNT 6 ₹ 3,000.00
30-04-
2023 TELEPHONE EXPENSES 16 ₹ 2,000.00
30-04-
2023 BANK ACCOUNT 6 ₹ 2,000.00
30-04-
2023 SALARIES 15 ₹ 12,000.00
30-04-
2023 CASH 1 ₹ 12,000.00

3. Then created ledgers for all accounts using pivot table in a new
sheet
Used slicer to filter the accounts.
Snips of all accounts are:
4. Trail Balance of all the ledgers:
Formula used to get debit balance:
=IF(SUMIF(Particulars,A3,DebitTotal)>SUMIF(Particulars,A3,Cre
ditTotal),SUMIF(Particulars,A3,DebitTotal)-
SUMIF(Particulars,A3,CreditTotal),0)
To get credit balance:
=IF(SUMIF(Particulars,A3,DebitTotal)<SUMIF(Particulars,A3,Cre
ditTotal),-
SUMIF(Particulars,A3,DebitTotal)+SUMIF(Particulars,A3,CreditT
otal),0)
5. Then created balance sheet and profit and loss account using
pivot table from the trial balance sheet.