The Following Would Be Recording In Journal Using Double Entry System.

Do The
Posting Process From Journal Entries And Prepare The Trial Balance, Trading A/C,
Profit & Loss A/C And Balance Sheet In The Books Of M/S. INFOSYS LTD For The
Following Year 2009 To 2010
Particular Dr Cr

Capital 500000

Cash 250000

Bank Loan 100000

Profit & Loss A/C 50000

Accounts Receivable 50000

Axis Bank 150000

Machinery 75000

Plant & Machinery 150000

Good Will 125000

Bank O /D 100000

Debentures 50000

Total 800000 800000

Title of the Budget: Financial Budget

Period of Budget : 1.4.2009 to 31.3.2010
Ledger Name Estimated Amount (Rs)

Stationery 10000

Rent 50000

Salary 20000

Wages 15000

Fright charges 5000

Discount 5000

Commission 10000
 Ledger Name Estimated Amount (Rs)

Depreciation 10000

TRANSACTION DURING THE PERIOD:

1. Paid Telephone Charges Rs.2000
2. Goods Purchased On Credit From M/S.Linga Agencies Was Rs.100000
3. Bank Loan Received Rs.200000
4. Cash Withdraw From Bank Rs.100000
5. Paid Salary By Cheque Rs.10000
6. Provision For Depreciation Rs.15000 Allocate In To P&L A/C
7. Bank O/D Settled Rs.20000
8. Goods Sold To M/S.Jana Was Rs.180000 Bill No:25 25days
9. Paid For Rent: 20000, Stationery: 4000, Wages: 6000
10.Dividend Received Rs.20000
11.Paid Fright Charges Rs.3750 By Cheque
12.Purchased Furniture Rs.60000
13.Paid To M/S.Linga Agencies And Discount Received @ 5%
14.Paid For Salary: 10000, Rent: 30000, Stationery: 1750
15.Paid Advertisement Charges Rs.2500
16.Interest On Bank Balance Rs.10000
17.Depreciation Of Machinery @ 10% This Amount Adjusted To Provisions
18.Bank Loan Settled Rs.50000
19.Bad Debit Written Of M/R.Jana Was Rs.5000
20.Discount Allowed Rs.3000
Answers:
opening balance 8,00,000

Gross profit 70,250

Net profit 17,000

Balance sheet 9,39,500