Panache Boutique

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105768

1 the company is Panache Boutique and manufactures of designer embriodery Stiched suit and sim

2 owner equity is 211536 OE

3 long term loan taken Rs 400000 400000 loan 611536

4 total fixed asset

a sewing machine 4 no's @10000 40000 cash

b embroidary m/c 2 no's @ 15000 30000 cashc Factory for Rs 100000 100000 cash

d Automatic cutting machine as per 40000 cash

e Furniture 10000 credit

total 220000

5 Scrap Value of fixed assests

a sewing machine 20000 after 5 years

b embroidary m/c 15000 after 5 years

c Factory for 50000 after 5 years

d Automatic cutting machine 20000 after 5 years

e Furniture 5000 after 5 years

6 Depritiation by straight line method @ 12% per annum

a sewing machine 416.67b embroidary m/c 312.5

c Factory for 1041.67

d Automatic cutting machine 416.67

e Furniture 104.17

7 Normal Raw Material purchased how many unit can be produced by one group purchasing

a 2000 300000 500

b Simple thread@2 per 1000 2000 500

c embroidary Thread @ 2500 25000 250 only for embroidery

d (Adjunct rough cloth)b 3500 28000 500

total 355000

8 Products

a Simple stiched suit @ 1050 margin on simpl 340b Deisgner embroidery @ 1750 0 in on em 540

9 Cost of production of suits

a Simple stiched suit used per scost qty Unit price

a1 4 600 1000 150 150000

a2 Simple thread@2 per 2 4 500 2 1000

a3 (Adjunct rough cloth)b 7 56 1750 8 14000

a4 designing cost @ 50 per suit 50 165000

total 710 checked ross cos 177500

b Deisgner embroidery Stiched suit. qty Unit price

b1 4 600 1000 150 150000

b2 Simple thread@2 per 2 4 500 2 1000

b3 embroidary Thread @ 5 50 2500 10 25000b4 (Adjunct rough cloth)b 7 56 1750 8 14000

b5 designing cost 0 500 500 125000

1210 checked ross cos 315000

10 Average monthly production

a Simple stiched suit 600

b Deisgner embroidery 550

11 Average Sales per month

cloth@150per meter

cloth@150per meter

cloth@150per meter

mailto:cloth@150per%20meter








a Simple stiched suit 575 25 buffer maintainde per month

b Deisgner embroidery 525 25

12 All books are mainted on accrual principle

13 Raw Material is valued @ FIFO

14 JIT is followed for the Inventory procurement



ple stiched suits and company sells these to big brand houses in bulk

500

12500

710

12500

500

1260



Accounting Period

my understanding S.no Date Naration

capital 1 20-Oct-09

fa 2 25-Oct-09

bank 3 25-Oct-09

loan bank 4 30-Oct-09fa credit 5 31-Oct-09

exp 6 1-Nov-09 Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply o

FA cheque 7 10-Nov-09 bought machinery (stiching, cutting machine, embroidery) paid b

inventory 8 15-Nov-09

designer 9 15-Nov-09

exp other consumabl 10 20-Nov-09 brought stationary and other (pheripheral like scicors, needles et

order 11 21-Nov-09

exp 12 22-Nov-09 t raining to designer For handling the cutting machines also (muti

delivery 13 30-Nov-09

14 30-Nov-09 paid electricity bill Rs 21500 to Pseb for the month by online pa

15 30-Nov-09 Bank monthly install ment auto deduction by bank throgh net wit

SECOND PERIOD( 1-DEC-09 -31-DEC-09)BALANCE CARRIED FORWARD

1 1-Dec-09 SALARY GIVEN TO DESIGNER

inventory cash and c 2 1-Dec-09

3 9-Dec-09

4 10-Dec-09

5 11-Dec-09due to exigency factory closed for a 7 days-holiday

6 12-Dec-09 holiday

7 13-Dec-09 holiday

8 14-Dec-09 holiday

9 15-Dec-09 holiday (total) scenario) till date is

10 16-Dec-09 holiday

11 17-Dec-09 holiday12 18-Dec-09

13 19-Dec-09

14 20-Dec-09paid for the furniture by cheque -105768

15 21-Dec-09 Bank monthly install ment auto deduction by bank throgh net wit

16 22-Dec-09paid Gupta thread merchant Rs 5 lakh cash

17 23-Dec-09 paid electricity bill Rs 21500 to Pseb for the month by online pa

18 24-Dec-09

19 31-Dec-09

THIRD PERIOD ( 1 JAN 2010 -31ST JAN 2010)

BALANCE CARRIED FORWARD1 1-Jan-10 ADVANCE RECEIVED FROM DESIGNERS 10000

2 5-Jan-10 SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CREDI

3 10-Jan-10 SOLD 200 EMB SUIT TO AMBA FASHION IN CASH

4 14-Jan-10 PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

5 16-Jan-10 MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS

6 20-Jan-10 PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

7 25-Jan-10 SOLD AMBA FASHION 200 EACH IN CASH

introduced capital owner equity initial )

bought factory in cash

open A/c with SBI deposited 20000

Availed loan of Rs 400000 @ 10% from SBI simple interest to bbrought furniture on credit from Classic furniture

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter

hired 2 designer adept to handle embrodery m/c and hence fort

received order from a Gauri School for the Anuall function of 20

goods delivered to gauri school half payment recived in cash

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter

received remaining payment from Gauri school in bank A|C by

sold simple stiched suit 400 nos to Rajan Cloth giant in cash

sold 200 numbers of simple and 100 embtoidery suit in cash to A

As Amba fashion House being the Major Player in this Area, C

bulk ( double of normal purchase) purchase of inventory @ 10%

due to nexus with Amba Fashion recived order for 300 of each



8 30-Jan-10 RECIVED PAYABLE FROM RAJAN CLOTH GAINT IN BANK A

9 31-Jan-10 Bank monthly install ment auto deduction by bank throgh net wit

10 31-Jan-10 paid electricity bill Rs 21500 to Pseb for the month by online pa



not balance simple

20-Oct-09 bank deducti cash balaloan to b order payable recieveabl advance lume of su

211536 211536 0 0 0

100000 100000 111536

20000 in bank 20000 91536

400000 420000 91536 440000 40000010000 10000

2200 2200 89336

110000 310000

355000 50000 39336 305000 250

10000 10000 29336 10000

3500 25836

350000 350000

2000 2000 23836

175000 198836 `-350000 175000 `-200

21500 288500

interest R 278500

16000 182836

355000 50000 132836 305000 300

175000 453500 `-175000

420000 552836

300

considered only for invt

453500 234200 552836 not paid zero 610000 zero 10000 300

385000 937836 `-200

5000 5000 932836 100

10000 443500

10000 433500

500000 432836 110000

21500 412000

639000 162000 182836 139000 600

250000 250000

840000 1022836 300

10000 1032836

315000 315000 0

350000 1382836

355000 1027836 250

25000 1002836

355000 647836 500

560000 1207836 200



315000

interest Rs 10000 per month for 5 years b

ment by sbi



emb

it I can ma

250

500

`-400

100

100

`-100

0

500

200

0

250

500

200



Date Explanation Ref no. Dr Cr

20-Oct-09CASH UP 1 211536 20-Oct-09

CAPITAL UP 211536

25-Oct-09FACTORY AS (FA) UP 2 100000 25-Oct-09

CASH A/C DOWN 100000

25-Oct-09BANK A/C 3 20000 25-Oct-09

CASH A/C DOWN 20000

30-Oct-09BANK A/C UP 4 400000 30-Oct-09

LOAN A/C (liability) 400000

31-Oct-09FURNITURE A/C 5 10000 31-Oct-09

CREDITOR CLASSIC 10000

1-Nov-09PSEB ELECTRIC EQUIPMENT 6 2200 1-Nov-09

CASH A/C DOWN 2200

10-Nov-09

MACHINEARY FA UP 7 110000 10-Nov-09

BANK A/C DOWN 110000

15-Nov-09

PURCHASE A/C FOR INVEN 8 355000 15-Nov-09

CASH A/C DOWN 50000

CREDITOR A/C 305000

15-Nov-09DESIGNER A/C 9 10000 15-Nov-09

DEBTORS A/C 10000

20-Nov-09PURCHASE A/C FOR MISC 10 3500 20-Nov-09

CASH A/C DOWN 3500

21-Nov-09RECEIVED ORDER SO NO VALUE TRANS 11 21-Nov-09

22-Nov-09TRAINING A/C 12 2000 22-Nov-09

CASH A/C DOWN 2000

30-Nov-09

CASH A/C UP 13 175000 30-Nov-09RECEIVABLE A/C 175000

SALES A/C 350000

30-Nov-09ELECTRIC EXPENSE 14 21500 30-Nov-09

CASH AC 21500

30-Nov-09LOAN A/C 15 10000 30-Nov-09

BANK AC 10000

SECOND

1-Dec-09SALARY A/C 1 16000 1-Dec-09

CASH AC GUPTA 16000

1-Dec-09

PURCHASE A/C FOR INVEN 2 355000 1-Dec-09

CASH A/C DOWN 50000

CREDITOR A/C GUPTA 305000

9-Dec-09BANK A/C UP 3 175000 9-Dec-09

DEBTORS A/C GAURI 175000

10-Dec-09CASH A/C UP 4 420000 10-Dec-09

SALES A/C RAJAN 420000

18-Dec-09CASH A/C UP 12 385000 18-Dec-09

SALES A/C 385000

JOURNAL ENTERIES PANACHE BOUTIQUE FOR ( 20/10/2009 TO30/11/2009 )



19-Dec-09PURCHASE A/C EXPENSE 13 5000 19-Dec-09

CASH DOWN GIFT 5000

20-Dec-09CREDITOR A/C 14 10000 20-Dec-09

BANK A/C 105768 10000

21-Dec-09LOAN A/C 15 10000 21-Dec-09

BANK A/C 10000


CASH A/C 500000

23-Dec-09PSEB ELECTRICEXPENSE 17 21500 23-Dec-09

BANK A/C 21500

24-Dec-09


DISCOUNT 71000

CASH AC TOTAL 639000 250000

BANK AC 250000

CREDITOR A/C 139000

31-Dec-09CASH A/C UP 19 840000 31-Dec-09

CREDITOR A/C 840000

THIRD

1-Jan-10CASH UP 1 10000 1-Jan-10

DEBTORS A/C 10000

5-Jan-10CASH UP 2 315000 5-Jan-10

SALES A/C 315000

10-Jan-10CASH UP 3 350000 10-Jan-10

SALES A/C 350000

14-Jan-10PURCHASE AC UP 4 355000 14-Jan-10

CASH DOWN 355000

16-Jan-10

PURCHASE AC EXP 5 25000 16-Jan-10

CASH DOWN 25000


CASH DOWN 355000

25-Jan-10CASH UP 7 560000 25-Jan-10

SALES 560000

30-Jan-10CREDITOR A/C 8 840000 30-Jan-10

SALES UP 31-Dec-09 840000

31-Jan-10LOAN A/C 9 10000 31-Jan-10

BANK A/C 10000

31-Jan-10PSEB ELECTRICEXPENSE 10 21500 31-Jan-10

BANK A/C 21500



Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of electricity to run the machines

bought machinery (stiching, cutting machine, embroidery) paid by cheque 105765 write details also

brought stationary and other (pheripheral like scicors, needles etc worth Rs 3500 on cash

training to designer For handling the cutting machines also (mutiple tasking) more effectively paid in cash to trainer.

paid electricity bill Rs 21500 to Pseb for the month by online payment by sbi

Bank monthly install ment auto deduction by bank throgh net with interest Rs 10000 per month for 5 years b

SALARY GIVEN TO DESIGNER BY CASH




Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly installment over a feriod of 5 yea

brought furniture on credit from Classic furniture

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb thread @ 10 per piece , 2500

hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hiring advance given to each 50

received order from a Gauri School for the Anuall function of 200 embroidery suit for childrens

goods delivered to gauri school half payment recived in cash and rest on credit

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb thread @ 10 per piece , 2500

received remaining payment from Gauri school in bank A|C by wire transfer


sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion house (major playewr in the market



paid for the furniture by cheque -105768


paid Gupta thread merchant Rs 5 lakh cash


ADVANCE RECEIVED FROM DESIGNERS 10000

SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CASH

SOLD 200 EMB SUIT TO AMBA FASHION IN CASH

PURCHASED NORMAL RAW MATERIAL WORTH IN CASH

MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS 25000


SOLD AMBA FASHION 200 EACH IN CASH

AMBA FASHION SPECIAL ORDER DELIVERED



As Amba fashion House being the Major Player in this Area, Company decide to give one time gift worth Rs 5000 to

bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mode cash 250000+ bank 25000

due to nexus with Amba Fashion recived order for 300 of each emb and simple suits payment in advance in cash rs



16000

0

175000

0



0

5000

10000

10000

500000

21500

0

250000

0



Capital Account

Tr. No Narratio Amount Tr. No Narratio Amount

CASH Account




Date Explanation Ref no. Dr Cr

20-Oct-09CASH UP 1 211536 20-Oct-09

CAPITAL UP 211536

25-Oct-09FACTORY AS (FA) UP 2 100000 25-Oct-09

CASH A/C DOWN 100000

25-Oct-09BANK A/C 3 20000 25-Oct-09

CASH A/C DOWN 20000

30-Oct-09BANK A/C UP 4 400000 30-Oct-09

LOAN A/C (liability) 400000

31-Oct-09FURNITURE A/C 5 10000 31-Oct-09

CREDITOR CLASSIC 10000

1-Nov-09PSEB ELECTRIC EQUIPMENT 6 2200 1-Nov-09

CASH A/C DOWN 2200

10-Nov-09

MACHINEARY FA UP 7 110000 10-Nov-09

BANK A/C DOWN 110000

15-Nov-09

PURCHASE A/C FOR INVEN 8 355000 15-Nov-09

CASH A/C DOWN 50000

CREDITOR A/C 305000

15-Nov-09DESIGNER A/C 9 10000 15-Nov-09

DEBTORS A/C 10000

20-Nov-09PURCHASE A/C FOR MISC 10 3500 20-Nov-09

CASH A/C DOWN 3500

21-Nov-09RECEIVED ORDER SO NO VALUE TRANS 11 21-Nov-09

22-Nov-09TRAINING A/C 12 2000 22-Nov-09

CASH A/C DOWN 2000

30-Nov-09

CASH A/C UP 13 175000 30-Nov-09RECEIVABLE A/C 175000

SALES A/C 350000

30-Nov-09ELECTRIC EXPENSE 14 21500 30-Nov-09

CASH AC 21500

30-Nov-09LOAN A/C 15 10000 30-Nov-09

BANK AC 10000

SECOND

1-Dec-09SALARY A/C 1 16000 1-Dec-09

CASH AC GUPTA 16000

1-Dec-09


CASH A/C DOWN 50000

CREDITOR A/C GUPTA 305000

9-Dec-09BANK A/C UP 3 175000 9-Dec-09

DEBTORS A/C GAURI 175000

10-Dec-09CASH A/C UP 4 420000 10-Dec-09

SALES A/C RAJAN 420000

18-Dec-09CASH A/C UP 12 385000 18-Dec-09

SALES A/C 385000

JOURNAL ENTERIES PANACHE BOUTIQUE FOR ( 20/10/2009 TO30/11/2009 )



19-Dec-09PURCHASE A/C EXPENSE 13 5000 19-Dec-09

CASH DOWN GIFT 5000


BANK A/C 105768 10000

21-Dec-09LOAN A/C 15 10000 21-Dec-09

BANK A/C 10000


CASH A/C 500000

23-Dec-09PSEB ELECTRICEXPENSE 17 21500 23-Dec-09

BANK A/C 21500

24-Dec-09


DISCOUNT 71000

CASH AC TOTAL 639000 250000

BANK AC 250000

CREDITOR A/C 139000

31-Dec-09CASH A/C UP 19 840000 31-Dec-09

CREDITOR A/C 840000

THIRD

1-Jan-10CASH UP 1 10000 1-Jan-10

DEBTORS A/C 10000

5-Jan-10CASH UP 2 315000 5-Jan-10

SALES A/C 315000

10-Jan-10CASH UP 3 350000 10-Jan-10

SALES A/C 350000


CASH DOWN 355000

16-Jan-10

PURCHASE AC EXP 5 25000 16-Jan-10

CASH DOWN 25000


CASH DOWN 355000

25-Jan-10CASH UP 7 560000 25-Jan-10

SALES 560000

30-Jan-10CREDITOR A/C 8 840000 30-Jan-10

SALES UP 31-Dec-09 840000

31-Jan-10LOAN A/C 9 10000 31-Jan-10

BANK A/C 10000

31-Jan-10PSEB ELECTRICEXPENSE 10 21500 31-Jan-10

BANK A/C 21500



Paid in cash TO PSEB for EQUIPMENT FOR 3 phase supply of electricity to run the machines

bought machinery (stiching, cutting machine, embroidery) paid by cheque 105765 write details also

brought stationary and other (pheripheral like scicors, needles etc worth Rs 3500 on cash

training to designer For handling the cutting machines also (mutiple tasking) more effectively paid in cash to trainer.



SALARY GIVEN TO DESIGNER BY CASH




Availed loan of Rs 400000 @ 10% from SBI simple interest to be repaid in monthly installment over a feriod of 5 yea

brought furniture on credit from Classic furniture

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre,5000emb thread @ 10 per piece , 2500

hired 2 designer adept to handle embrodery m/c and hence forth emb. suits and for hiring advance given to each 50

received order from a Gauri School for the Anuall function of 200 embroidery suit for childrens

goods delivered to gauri school half payment recived in cash and rest on credit

bought 2000 meter of cloth @ 150/ metre , bukram 1500 meter @ 8per metre, 2000emb thread @ 10 per piece , 2500

received remaining payment from Gauri school in bank A|C by wire transfer


sold 200 numbers of simple and 100 embtoidery suit in cash to Amba fashion house (major playewr in the market



paid for the furniture by cheque -105768


paid Gupta thread merchant Rs 5 lakh cash


ADVANCE RECEIVED FROM DESIGNERS 10000

SOLD 300 SIMPLE SUIT TO RAJAN CLOTH GAINT ON CASH

SOLD 200 EMB SUIT TO AMBA FASHION IN CASH


MACHINE BREAK DOWN MAINTAINCE WORK CALL FOR RS 25000


SOLD AMBA FASHION 200 EACH IN CASH

AMBA FASHION SPECIAL ORDER DELIVERED



As Amba fashion House being the Major Player in this Area, Company decide to give one time gift worth Rs 5000 to

bulk ( double of normal purchase) purchase of inventory @ 10% discount, payment mode cash 250000+ bank 25000

due to nexus with Amba Fashion recived order for 300 of each emb and simple suits payment in advance in cash rs



16000

0

175000

0



0

5000

10000

10000

500000

21500

0

250000

0



Capital Account


CASH Account




Cash Account

Tr. N Narration Amount Tr. N Narration Amount

1 To Capital 66000 3 By Computer 55110



26 To Advance 9000 7 By Computer 3107

8 By Salary 1000

9 By Inernet Installation 1000

10 By Security Deposit 2000

12 By Salary 1500

13 By Internet Expenses 850

14 By Salary 1000


17 By Salary 2000

18 By Internet Expenses 85020 By Internet Expenses 850

21 By training & Develop 15000

22 By Travelling Expenses 1500

23 By Salary 1000


25 By training & Develop 500

27 By Salary 2000


31 By Consultancy Exp 5700

33 By Salary 200037 By Salary 2000

By Balance 68

110000 110000



Ani Inititatives Pvt. Ltd

Trial Balance as on 31-03-07

Particulars Debit Credit

Capital Account 117,000.00

Cash Account 68.00

Bank Account 54,900.00

Computer & Accessories 46,642.00

Salary 10,500.00

Consultancy Income 27,800.00

Internet Expenses 6,100.00

Security Deposit 2,000.00

Advance received 9,000.00

Travelling Expenses 2,500.00

Training and Development Expense 15,500.00Loan Account 4,400.00

Depreciation 19,990.00

158,200.00 158,200.00




Profit and Loss Account

For the Period ending 31-03-2007

Particulars Amount Particulars Amount

Salary 10,500.00 Consultancy Income 27,800.00

Internet Expenses 6,100.00 By Loss Trf to Balance Sheet 26,790.00

Travelling Expenses 2,500.00

Training and Development Expenses 15,500.00

Depreciation 19,990

54,590.00 54,590.00


Balance Sheet as at 31-03-2007

Assets Amount Liabilities Amount

Cash Account 68.00 Capital Account 117,000.00

Bank Account 54,900.00 Advance received 9,000.00

Computer & Accessories 46,642.00 Loan Account 4,400.00

Security Deposit 2,000.00

Loss not written Off 26,790.00

130,400.00 130,400.00



140000

Panache Boutique

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