ZIO Mobile Manufacture Private Limited is an Noida based manufacturing and distributing company owned by

Mr. Mahesh Shah, Company has a Registered Privated limited company and GST Registered as Regular
Dealer.

Type of Business : It is a Private Limited Company and Manufactures smartphones under the brand name of
“ZIO’, Company Purchase components as well as imports from China, Manufacture the Mobile Phones and
Distribute the same.

Section – 2
Name ZIO Mobile Manufacture Private Limited
17, 18, 19, Ground Floor, Lala Lajpat Rai Road, Kailash Enclave,
Address
Uttar Pradesh
Country India

State Uttar Pradesh

Pin Code 201307

E Mail Id accounts@ziomobiles.in

Website www.ziomobiles.in

Financial Year Begins from 1st April 2019

Books Beginning from 1st April 2019

GST Configuration
State Uttar Pradesh

GSTIN / UIN 09AABCS1429B1ZS

Registration Type Regular

Applicable from 1st April 2019

Periodicity of GSTR1 Monthly

EWay Bill Applicable Yes

Set / Alter GST Rate Details Yes

Description / HSN Telephones for Mobile Communication / 6212

Taxability / Integrated Tax Taxable / 12%

Department Name
Sales and Marketing Administration Accounts Human Resource
TDS Nature of Payment

Nature of Payment Additional Details

Rent of Land, Office Building Rate – 10%, Exemption Limit – 2,40,000

Consulting Charges Rate – 10%, Exemption Limit – 1,50,000

Ledger Accounts
Ledger Name Group Description
M/s. Sansui Global
Sundry Creditors Country - China
Electronics Co Ltd
IS GST Applicable – Yes, GST Rate – 18% Intergrated
Plant and Machinery A/C Fixed Assets Tax, Nature of Transaction – Purchase Taxable, Nature
of Goods = Capital Goods
State = Uttar Pradesh
The Mobile Planet Sundry Debtors Pincode = 201010
GST = 09AAGCA1654H1ZQ
Maintain Bill by Bill = Yes
State = Gujarat
Maruti The Mobile Shop Sundry Debtors
GST = 24AAACI1195H1ZS
Price List = Loyal Customer
Maintain Bill by Bill = Yes
Is TDS Deductable = Yes
Kashyap – A Landlord Sundry Creditors
Deductee Type = Individual / HUF Resident
PAN = AHCCK1234H
Is TDS Applicable = Applicable
Rent on Office Building Direct Expenses
Nature of Payment = Rent of Land, Building or Furniture
Input CGST Current Assets
Input SGST Current Assets
Input IGST Current Assets
Output CGST Duties and Taxes
Output SGST Duties and Taxes
Output IGST Duties and Taxes
Purchase Account
Sales Account
Cheque Book 1 No
Bank of India Bank Account
Cheque Nos 700001 to 700050
Budget for Indirect Expenses
Set an “Expenses Budget” on Group “Indirect Expenses” for the financial year as 60,00,000 on NET
Transactions

Inventory Details

Stock Item Group HSN Taxable

LED Display Components 6212 12%
Battery Components 6212 12%
Memory and Storage Components 6212 12%
Camera Components 6212 12%
ZIO A1 – Smart Phone Finished Goods 6212 12%
ZIO A1 Plus – Smart Phone Finished Goods 6212 12%

Bill of Materials
ZIO A1 – Smart Phone ZIO A1 Plus – Smart Phone

BOM Name : ZIOBasic BOM Name : ZIOPlus

LED Display 1 No LED Display 1 No
Battery 1 No Battery 1 No
Memory and Storage 1 No Memory and Storage 1 No
Camera 1 No Camera 2 No

Price List Creation

Price List Name Stock Item Price 0-20 21-50 51-100 100-500

ZIO A1 – Smart Phone 5800 0% 5% 10% 15%

Loyal Customer
ZIO A1 Plus – Smart Phone 6800 0% 5% 10% 15%

ZIO A1 – Smart Phone 7800 0% 5% 10% 15%

Regular Customer
ZIO A1 Plus – Smart Phone 8800 0% 5% 10% 15%

Business Transactions
 On 1st April 2019, Capital introduced Rs. 50,00,000 and deposited into Bank of India A/C

 On 3rd April 2019, Company purchased machinery and tools for mobile phones assembling unit for
Savera International Limited for 18,00,000 + 18% GST – Bill No. 12
 On 5th April 2019, Paid Rs. 15,00,000 to Savera International Limited via Bank of India Chq No 700001

 On 5th April 2019, withdrawn 10,000 cash from Bank of India A/C via Cheque No 700002

 On 7th April 2019, Company has imported the following components from M/s. Sansui Global
Electronics Co Ltd, via invoice 1188, with the exchange rate of US $70
Stock Item Quantity Rate Amount
LED Display 10,000 Nos $ 12 / No $ 1,20,000
Battery 10,000 Nos $ 5 / No $ 50,000
Memory and Storage 10,000 Nos $ 3 / No $ 30,000
Camera 20,000 Nos $ 10 / No $ 2,00,000

 On 15th April 2019, ZIO Mobile Manufactures Private Limited assembled finished goods as per table
below mentioned
Stock Item Quantity Batch No
ZIO A1 – Smart Phone 5000 Batch 01
ZIO A1 Plus – Smart Phone 4000 Batch 01

 On 18th April 2019, the company sold below mentioned materials on Credit to The Mobile Planet,
Company wants to set Invoice Prefix as “ACMPL/” and Suffix as “/2019-20”. Invoice Number having 2
digits and prefilled with Zeros
Stock Item Quantity Rate Rate (Excluding GST)
ZIO A1 – Smart Phone 500 Batch 01 Rs. 6000
ZIO A1 Plus – Smart Phone 800 Batch 01 Rs. 7000
E-Way Bill No : 18181818181001
Distance : 35 Kms
Vehicle No : UP 15 M 6661
Pin No : 201010

 On 19th April 2019, the company sold below mentioned materials on Credit to Maruti The Mobile Shop,
Stock Item Quantity Rate Rate (Excluding GST)
ZIO A1 – Smart Phone 1000 Batch 01 As per Price List
ZIO A1 Plus – Smart Phone 500 Batch 01 As Per Price List
E-Way Bill No : 18181818991006 Distance : 1150 Kms
Vehicle No : UP 25 M 1261 Pin No : 320008
 On 20th April 2019, Company took a secured loan from Bank of India of Rs. 5,00,00,000 at 12% interest
per annum (Calendar Year)

 On 25th April 2019, the company paid $ 4,00,000 @ Rs. 69.50/$ to M/s. Sansui Global Electronics Co
Ltd, against the invoice no. 765 from Bank of India via cheque No 700003

 On 30th April 2019, booked rent of 3,00,000 for Rent on Manufacturing plant and warehouse against
landlord Mr. Kashyap A, deducted 10% TDS too.

 On 30th April 2019, Paid salaries of Rs. 5,10,000 from Bank of India A/c, via Online Transfer Salaries
are allocated to different departments as Below
Sales and Marketing 350000
Administration 160000

 On 4th May 2019, Paid Net Payable Rent to Landlord Mr. Kashyap A from Bank of India A/c. by Cheque
No 700004

 On 5th May 2019, Paid TDS Amount to Income Tax Department via Bank of India A/c. via Cheque No.
700005

 On 10th May 2019, Received Rs. 80,00,000 from The Mobile Planet via cheque no 201999 drawn on
Canara Bank against 18th April 2019 invoice and the same was deposited in bank of India on the same
Day

 On 20th May 2019, received Rs. 90,00,000 from Maruti The Mobile Shop, via cheque No 121787 drawn
on Dena Bank against 19th April 2019 invoice.
Based on the above case study, and transaction recorded, answer the following

1. What is the stock available of ZIO A1 Plus – Smart Phone for Batch 01 as on 20th May 2019
2. As per the Cost Estimation, what is the cost price of ZIO A1 Plus – Smart Phone
3. What is the Profit earned from Sales to Maruti The Mobile Shop on 19th April 2019
4. What is the total Operating expenses percentage for ZIO Mobile Manufacturers Private Limited for
the period of 1st April 2019 to 20th May 2019
5. What is the Unadjusted Forex / Gain or Loss for ZIO Mobile Manufacturers Private Limited as on
20th May 2019
6. What is the Total Out Standing Amount Receivable from the Maruti The Mobile Shop as on 20th
May 2019
7. What is the Total interest payable on loan from Bank of India “Secured Loan Ac” as on 20th April
2019
8. What is the bill number of The Mobile Planet
9. What is the amount paid to Landlord Mr. Kashyap A after deducting TDS for the month of April 2019
10. What is the total bill value for Purchase of machinery and tools from Savera International Limited on
3rd April 2019
11. What is the working capital amount available as on 20th April 2019
12. What is the Budget Variance value as per Expenses Budget on Indirect Expenses Group by the
period of 1st April 2019 to 20th May 2019
13. What is the total stock value of Components available in ZIO Mobile Manufactures Private Limited
as on 20th May 2019