Operational Work Out On Journal and Ledger Posting Of

KIRAN Textiles, Guntur

Submitted By
Ch. Sairam (7NBGU047)
G. Srinivasa Rao (7NBGU068)

Under the Guidance of

Mr: P. Guru Prasad
Faculty Member
INC- Guntur

ICFAI NATIONAL COLLEGE

Near lodge center, Guntur
 COLLECTED DATA

TRANSACTIONS IN THE BOKS OF KIRANTEXTILES

DATE TRANSATIONS AMOUNT

Aug-01 Cash in hand 3,22,000

Aug-02 Purchase goods for cash 70,000

Aug-03 Goods sold to Surya saree mandhir 30,000

Aug-04 Goods sold to Mayuri dresses 20,000

Aug-05 Purchase goods from Mohan lal 50,000

Aug-06 Goods returns to Mohan lal 10,000

Aug-07 Sales returns by Surya saree mandhir 5,000

Aug-10 Salaries paid to staff 1,50,000

Aug-19 Transport charges paid 5,000

Aug-22 Advertisement charges paid 20,000

Aug-25 Electricity bill paid 10,000

Aug-28 Telephone bill paid 1,250

Aug-29 Rent paid 2,000

Aug-30 Traveling expenses paid 1,200

 ANLYSIS OF DATA

JOURNAL ENTRIES IN THE BOOKS OF KIRAN TEXTILES

FOR THE MONTH OF AUGUST 2007

DATE PERTICULARS LF DEBIT(Rs.) CREDIT(Rs)

Aug-01 Cash a/c Dr 3,22,000
To Kiran a/c 3,22,000
(Being cash in hand)

Purchase a/c Dr 70,000

Aug-02 To cash a/c 70,000
(Being purchase goods for
cash)

Surya saree mandhir a/c Dr 30,000

Aug-03 To cash a/c
(Being goods sold to Surya
30,000
saree mandhir)

Mayuri dressess a/c Dr 20,000

Aug-04 To sales a/c 20,000
(Being goods sold to Mayuri
dresses)

Purchase a/c Dr 50,000

Aug-05 To Mohan lal a/c 50,000
(Being purchase goods from
Mohan lal)
 Mohan lal a/c Dr 10,000
Aug-06 To purchase returns a/c 10,000
(Being goods returned to
Mohan lal)

Sales returns a/c Dr 5,000

Aug-07 To Surya saree mandhir 5000
a/c
(Being goods return to
Surya saree mandhir)

Salaries a/c Dr 1,50,000

To cash a/c 1,50,000
Aug-10 (Being salaries paid to
staff)

Transport charges a/c Dr 5,000

Aug-19 To cash a/c 5,000
(Being Transport charges
paid)

Advertisement a/c Dr 20,000

To cash a/c 20,000
Aug-22 (Being advertisement
charges paid)

Electricity bill a/c Dr 10,000

Aug-25 To cash a/c
(Being electricity bill 10,000
paid)
 Telephone charges a/c Dr 1,250
Aug-28 To cash a/c 1,250
(Being electricity bill paid)

Rent a/c Dr 2,000

Aug-29 To cash a/c 2,000
(Being rent paid)

Traveling charges a/c Dr 1,200

Aug-30 To cash a/c 1,200
(Being traveling charges
paid)
 LEDGER
CASH ACCOUNT
Dr Cr
Date Particulars LF Amount Date Particulars LF Amount

Aug- To Balance b/d 3,22,000 Aug-02 By purchases 70,000

01 Aug-10 By salaries 1,50,000
Aug-19 By Transport 5,000
charges
Aug-22 By Advertisement 20,000
charges
Aug-25 By Electricity bill 10,000
Aug-28 By Telephone bill 1,250
Aug-29 By Rent 2,000
Aug-30 By Traveling charges 1,200
Aug-31 By Balance c/d 62,550

3,22,000 3,22,000

Sep- To Balance b/d 62,550

01
Dr PURCHASE ACCOUNT Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 70,000 Aug- By balance c/d 1,20,000
02 31
Aug- To Mohan lal 50,000
05 1,20,000
1,20,00
0

Sep- To balance b/d

01 1,20,00
0

Dr SALES ACCOUNT Cr
Date particulars LF Amount Date particulars LF Amount
Aug-31 To balance c/d 50,000 Aug- By Surya saree 30,000
03 mandhir
By Mayuri
Dresses 20,000

50,000 50,000

Sep- To balance b/d 50,000

01
Dr Surya saree mandhir Account Cr
Date Particulars LF Amount Date Particular LF Amount
Aug- To Sales 30,000 Aug- By Sales 5,000
03 07 returns
Aug- By balance c/d 25,000
31
30,000
30,000
Sep- To balance b/d 25,000
01

Dr Mayuri Dresses Account Cr

Date Particulars LF Amount Date Particulars LF Amount
Aug- To Sales 20,000 Aug- By balance c/d 20,000
04 31

20,000 20,000

Sep- To balance b/d 20,000

01

Dr Mohan Lal Account Cr

Date Particulars LF Amount Date Particulars LF Amount
Aug- To purchase Aug- By purchases 50,000
06 returns 10,000 05
Aug- To balance c/d 40,000
31 50,000
50,000
Sep- By balance b/d 40,000
01
Dr Purchase Returns Account Cr
Date Particulars LF Amount Date Particulars LF
Aug- To balance c/d 10,000 Aug- By Mohan Lal 10,000
31 06

Sep- 10,000
01

Dr Sales Returns Account Cr

Date Particulars LF Amount Date Particulars LF Amount
Aug- To Surya 5,000 Aug- By balance c/d 5,000
07 Saree Mandhir 31

Sep- To balance b/d 5,000

01

Dr Salaries Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 1,50,00 Aug- By 1,50,000
10 0 31 balance c/d

Sep-
01 To blanc b/d
1,50,00
0
 Dr Transport Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 5000 Aug- By 5000
19 31 balance c/d

Sep- To balance 5000

01 b/d
Dr Advertisement Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 20,000 Aug- By 20,000
22 31 balance b/d

Sep- To
01 balance b/d 20,000
Dr Electricity Bill Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 10,000 Aug- By 10,000
25 31 balance c/d

Sep- To
01 balance b/d 10,000
Dr Telephone Bill Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 1,250 Aug- By 1,250
28 31 balance c/d

Sep- To balance
01 b/d 1,250
Dr Rent Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 2,000 Aug- By 2,000
30 31 balance c/d

Sep- To balanced
01 b/d 2,000
Dr Traveling Account Cr
Date Particulars LF Amount Date Particulars LF Amount
Aug- To cash 1,200 Aug- By 1,200
30 31 balance c/d

Sep-
01 To balance
b/d 1,200

Submitted By

G.SRINIVASA RAO
(7NBGU068)
CH. SAIRAM
(7NBGU047)
COMPANY PROFILE

Mr.Kesavarao is the founder of Kiran textiles .The

Accounts are maintained and kept in the right
records by Mr.Chandu the accounts officer. It is sole
trading concern controlled by Mr.Kesavarao .They
transact with different companies at different places
and deal with textile products like suiting, shirting,
pant material, and kurtas, Cosmetics for Men etc.
They have fifty sales persons and their salaries vary
from person to person. The firm apprises employees
who are hard working and sincere and dedicated
.They hold an account in HDFC Bank. Kiran textiles
stretches it self within an area 2132sqft. They are the
dealers for the well noted brands like Grasim,
Raymond’s, OCM, Bhilwada, Digjam, Park Avenue,
arrow, peter England, Allen Panney, Allen solley, Lee,
etc. To sustain in the market they reduced the cost of
the products they are pioneers in providing quality
materials

METHODOLOGY

We approached Kiran textiles and introduced

ourselves to the manager of Kiran textiles .They
questioned us just clarify whether we belong to ICFAI
National college or not. And after they came to know
that we are on some project. Then he decided to give
all the details about Kiran textiles. They cooperated
with us and provided all the details related to Kiran
textiles.