PROJECT WORK ON

ACCOUNTS

PRESENTED BY-

NAVNEET SINGH RASHA

CLASS-XI C

ROLL NO. :- 47

Ans:–Sole trader is a person who carries on business exclusively for himself. He alone establishes the business, arranges its business, manages it’s affairs and bears all its risks. He alone is responsible for profit & losses of the business.

Ans:-I would like to be a sole trader because from my point of view I would like to run my own business for which I will only be responsible for all the risks and wanted to raise my business according to the demand in the market.

SOLE TRADER

•THE PROCESS WHICH YOU WOULD TAKE TO PURCHASE

PRODUCT?

FOR BULK PURCHASE

ENQUIRY

QUATATION

ORDER

EXEQUTION OF ORDER

DELIVERY OF GOODS

PAYMENT

SINGLE ITEM PURCHASE

ENQUIRY

SELECTION OF PRODUCT

PAYMENT OR PARTELY PAYMENT

HOME DELIVERY

PARTICULARS

AMOUNT2007(Dr.)

AMOUNT 2007(Cr.)

AMOUNT2008(Dr.)

AMOUNT 2008(Cr.)

Opening stock 30000

Land 80000 80000

Building 60000 60000

Furniture 50000 50000

Machinery 70000 70000

Live Stock 60000 60000

Bills 6000 5000 4000 8000

Cash at Bank 10000 12000

Cash in Hand 6000 10000

Purchases 140000 170000

Particulars Amount

2007(Dr.)

Amount

2008 (Cr.)

Particulars Amount

2007(Dr.)

Amount

2008(Cr.)

To opening

stock

30000 By sales 290000 360000

To purchases 140000 170000 By closing

stock

30000 32000

To wages 8000 10000

To carriage

inwards

3000 4000

To gross

profit

1,69,000 1,78,000

TOTAL 3,20,000 3,92,000 3,20,000 3,92,000

*BALANCE SHEET

as on 31st December,2007,2008Particulars Working

of 2007

(Dr.)

Amoun

t 2007

(Dr.)

Working

of 2008

(Cr.)

Amount

2008(Cr.

)

Particula

rs

Amount

2007(Dr

.)

Amount

2008(Cr.

)

Capital 120000 145000 Land 80000 80000

Add : Net

Profit

137000 140000 Building 60000 60000

Less :

Drawings

8000 249000 10000 275000 Furniture 50000 50000

Machiner

y

70000 70000

Long term

loan

85000 80000

Closing

stock

30000 32000

Creditors 55000 45000 Live

Stock

60000 60000

Bills 5000 8000 Cash at 10000 12000

ANTICIPATED

TRIAL BALANCE OF NEW FURNITURE

WORLDAS ON 31ST DECEMBER, 2009,2010

Particulars Amount 2009

(Dr.)

Amount 2009

(Cr.)

Amount 2010

(Dr.)

Amount 2010

(Cr.)

Opening stock 32000 20000

Land 80000 80000

Building 60000 60000

Furniture 50000 50000

Machinery 70000 70000

Live Stock 60000 60000

Bills 8000 10000 12000 15000

Cash at Bank 30000 50000

Cash in Hand 45000 60000

Purchases 200000 300000

Sales 500000 650000

Debtors 5000 10000

Creditors 10000 6000

ANTICIPATED

NEW FURNITURE WORLD

Trading, Profit & Loss A/c.for the year ending 31st December, 2009,2010

Particulars Amount

2009 (Dr.)

Amount

2010 (Cr.)

Particulars Amount

2009 (Dr.)

Amount

2010 (Cr.)

To Opening

stock

32000 20000 By Sales 500000 650000

To Purchases 200000 300000 By Closing

stock

20000 60000

To Wages 5000 10000

To Carriage 15000 25000

To Gross

profit

(Transferred

to p&l A/c.

268000 355000

TOTAL 5,20,000 7,10,000 5,20,000 7,10,000

Particula

rs11

Working

of 2009

Amount

of 2009

Working

of 2010

Amount

of 2010

Particula

rs

Amount

of 2009

Amount

of 2010

Capital 150000 200000 Land 80000 80000

(ADD):-

Net

profit

181000 226000 Building 60000 60000

(LESS):-

Drawings

20000 311000 10000 416000 Furniture 50000 50000

Machiner

y

70000 70000

Long

term loan

97000 75000

0

100000

200000

300000

400000

500000

600000

700000

2007 2008 2009 2010SALES 290000 360000 500000 650000

SALES

0

50000

100000

150000

200000

250000

2007 2008 2009 2010NET PROFIT 137000 140000 181000 226000

Axi

s Ti

tle

NET PROFIT

What steps where taken by you to increase the sale?

Ans :- The steps taken by me to increase

the sale are :

i. Making good quality of the product.

ii. Regular supply of the product in the

market.

iii. Better Transport Facility has to be made.

iv. Providing services to the customer

according to their needs.

What problems encountered by you to set up the business?

> For setting this business I have to need a huge capital for which I took a loan from bank for a particular period.

> For growth of my business I have to work hard because as it was not known by the normal customers.

What problems encountered by you while making this project?

> I have taken help from my friend Manish for making the balance sheet.