| ACCOUNTANCY PROJECT NAME OF THE SCHOOL NAME OF THE STUDENT CLASS CBSE ROLL NO. ACADEMIC YEAR TEACHER IN CHARGE + SHARJAH INDIAN SCHOOL + DANK. JOHN XIE 2 2012-2013 + MRS. ASHA R. NAIRSharjah Indian Sehoo! P.O. Box: 2324, Tel. 5671866, Fax. 5675166 e-mail : mail@sissharjah.com AISSC (Class XII) Practical Examination in ACCOUNTANCY 2012-2013 CERTIFICATE Certified that the entries in this project file is the 6ona fide work of Master: Dan _KARIVANAMPoikAyIL JoHN) Grade: XIE& Roll No:___ Completed during the Academic Year 2012-2013 Teacher in Charge | This project file was submitted for the AISSC (Class XII) Practical Examination in Accountancy conducted on 1, (Name & Signature of the Internal Examiner] Namie frure gf the External Examiner)ACKNOWLEDGEMENT D hawe taken efforts: in this: project: Pawuerer, it wauld nat. hawe becw possibile withaut the: kind. suppow and help off many individuals: and organizations: D would like to extend muy sincew thanks ta all of them. D am highly indebted wa the Teacher in Charge Was. Asha R. Nair fav her guidance and constant supewisian as well as for providing necessauy information regarding the project & alsa for hev support in completing the project Du ike ta express: my gratitude tavards: my parents Bis Pr ek eerie emnenecn enna tente the: project and to the peaple: who have willingly| | PROJECT - 1 eeRAMA’S CYBER CAFE Mr, Rama decided to commence a computer business in a building which was constructed at a cost of ¢ 1,00,000 and contributed a further sum of = 2,50,000. He wanted to start with 10 computers. He went on to HDFC bank and put up his proposal and managed to get a loan to the extend of his 75 percent of the cost of the computers *4, 00,000 with printers. It was agreed that the loan will be repaid in three annual instalments as follows: * Atthe end of first year Rs, 1,00,000 + 30,000 interest = At the end of the 2" year =Rs, 1,00,000 + 20,000 interest = Atthe end of the3rd year =Rs. 1,10,000 (Rs. 1,00,000 + 10,000 interest) He started business on 1* April 1999. On the same date he deposited 2, 40,000 in the bank. He gave <1, 00,000 to computer company as 25% of the value of computers purchased and ¢3,00,000 out of bank loan availed. He deposited ¢1,000 for the electrical connection-with the Electricity Board and also deposited of |< 1, 00,000 with VSI Tor the telephone Internet connection. He got the _Alpayments were to be made by cheques and all the receipts were in cash to be deposited in the bank on the same day. At the end of the year, their results showed the following: Revenue from fees received from students of computer class 2,80,000 Revenue on account of internet facility 1,20,000 Revenue from sale of computer stationery 98,000 Purchases of computer stationery like floppy discs, CDs etc. 55,000 Telephone charges 34,000 12,000 10,000 ‘iscellaneous expenses 10,000 Wages paid to servant 6,000 He withdrew «6,000 by cheque each month for their personal expenses. He paid the bank loan regularly.Mr. Rama decided to commence a computer business in a building which was constructed at a cost of = 1,00,000 and contributed a further sum of <2,50,000, He wanted to start with 10 computers. He went on to HDFC bank and put up his proposal and managed to get a loan to the extend of his 75 percent of the cost of the computers ¢ 4, 00,000 with printers. It was agreed that the loan will be repaid in three annual instalments as follows: At the end of first year = Rs. 1,00.000 + 30.000 interest At the end of the 2™ year =Rs. 1.00.000 + 20.000 interest At the end of the3rd year =Rs. 1.10,000 (Rs. 1.00,000 + 10,000 interest) He started business on 1™ April 1999. On the same date he deposited #2, 40,000 in the bank. He gave ¢1, 00,000 to computer company as 25% of the value of computers purchased and ¢3.00.000 out of bank Joan availed. He deposited $1,000 for the electrical connection with the Electricity Board and also deposited of —¢1, 00,000 with VSNL for the telephone Internet conneefion. He got the computer cafe furnished by paying ¢25,000 and also spent ¢4.520 in getting pamphlets printed and distributed. All payments were to be made by cheques and all the receipts were in cash to be deposited in the bank on the same day. At the end of the year, their results showed the following: * Revenue from fees received from students of computer class 2,80,000 Revenue on account of internet facility 1,20,000 Revenue from sale of computer stationery 98,000 Purchases of computer stationery like floppy dises. CDs ete. 55.000 Telephone charges 34.000 Petty expenses 12,000Entertainment expenses 10,000 Miscellaneous expenses 10,000 Wages paid to servant 6,000 He withdrew ¢6.000 by cheque each month for their personal expenses. He paid the bank loan regularly Required: Journalise the above transactions. Post them into the ledger and prepare trial balance Prepare Profit & Loss A/c and Balance Sheet after taking into account that electricity charges of <1, 24,000 is yet to be paid, Charge depreciation at the rate of 25% on computers. 10% on furniture and $% on buildings. Caleulate profitability ratios and comment on the efficiency of the business if the net profit ratio and gross profit in similar type of business concerns are-20% and 50% respectively. * Compare the ratios that the banker will require ting the loan.(current ratio, quick ratio and debta Duc | CC) ‘79 J teat | Cosh, A 20,000 | wna) Ak 1,00, 000} T Capital tHe | (359 00D (Fon cagdat unvited Wr te bein) | — — ae seit i ae | Ami | Bown Nc Dn 240,000 To Cin Ak Rw, 00d (Fon cash chepritted va Barat) | | April Bam Nc ; hn Th Bavk Wao hit Chon loam taken HDFC bowk) Ami! Computer Ax on | To Bamk Ak Cf wmputer purirosing Pau 2 10,000 Siu bol WouMed awd bolamce out 6 Youn taken y Pi! Electricity Brand Al Nishi Alc TO Baw Ai (fon Sewwtiiy depois with Cuctnicity Board gard VSNL)_articwtone prety | entry — ae Fivtuous We | | 28,009 t Ak tI | 28,000 © (fin coe Rowinieds : Advertise Ne Te Pomk ht (fer cluaue Wud fom advertisnvart) | Bawk Ak . TW Reveaut from fees aud Sates Ni (fon total weve weieved, 3250,0008 | 420,000 + & 4000) Banak Gowen pdin Station purrcraned I | Masia 34 | Teeplacine Chor Nt | Buy, 000 |Pauy Capote Ne /12,000 | |Ewtertaianacat Tener bic 10,000 | Mbauoments Cupensec Ni l1000 | | I booo TD Rawk | (fon Nanion enpeme pard)Mocca 31 | Daas Nk my Bak Ni (fon awl withdraus ah pemowal. uc) Mandr 31| twiowt om Bont toa Ne mn | Th Conk aon A | Uer ‘uatout on bat tow due) -—————_ i (ae _ Moneta 31) Bank hoaw Ak m| | TO Bomk Al (fis fit instant of bamk loon (fn aici chong At are Dai) | nce 000 1,000Ledain Rama, Cash Alc : | &. | om | 126q000 4-49] By Bank Ak |te200 By Balawwe bd a Nite Ce { ‘ Hy-t991 TO Capita Nc ies by Depncciaion | | 4+) By Balance cq | “Lega i | ty 2000 Ts Boone | 45,000 geen eerie Boehm] By Cosy au 13,50,000 | 1h } By Balance pip eee—_———- cs cs ft fs ie —— Posinstart f Rs /Byo,000) -4-1999) By Computer Ak 4,00,000 | axgaco 0 By Eludruity brand Nt) er is we ASML Alc sn 0 By Furwitane Rhy cd bug. OY Adventiceruat A | aes teeny Pusictraser Ne 3 aeaaly ee Enp Nic Empenrens At 1000 By Exafentalnrce | Bop NM i S-awofby Mid calemeous Beh, as 0 By Nc 2.3 aly Dotauaings AIC 35-2008 _— Bam raw Ai ’ Balavwe cd Bank boaw Alc ae fe] k= | Dou Peticusarn, thitaa | By Bawak Alc 2.00, ogg 313-2004 By Iaiternt, ex Barak. Wodat Al bby och By Basawce fd 1000 I 100,800 | 25,000 | 4500 | 55,000) | 34,000 12,000 too00 (Q000Frmibuw oad Fivtuotet At mt! &s | | [22,600 | 35,000 |3"3. By Cepreciatonn Ak | 36.000 j Adventigemvent Nk tole Rowenta TF | [23.904 By Rauwwe Dt 'h ! 49s, OF busiae quit Sotifactony becaune mitt prof d puss profit natin ant higher Him tHe Wonal fa swaitan ype of Pruitt Orualsainn / _— Panak Wranr KK wou gee the Ruowlag ratios befine granting Hee teas = Gout Rate = Curmeut Assets Content WiaLilities| | = nt Snowe S22 a3! Sar Eu Ryo ¥ Baik Wao to be Repaid Newt Yeur Weood + 46,86 = Letsy 2 8st Loop0o F 24,006 414,000 wii) Butck Rote win be Sawne ov woiret snake beau Hee ic niber Closing Stuck won pmefaid enperases G1) Debt Cowithy Rato + + L000py = Oabet ‘a 393, 000 The bank, thoreline, shout grat the ton, the NaKy one Wout hte en LCoNcLUNON Auuomdivng te Pack wh: Ripatnic A praject a volaole acanted purprscfia Guiity panceeding im a social emuinoumust - JA project, frou dae plat of vied of dudent, Cam be purse JLeanring activahy Ivavolving (Taal pbs, planned aac Canikel Our a reat lie manned fs adatone Sprcihe quale Im othe WOAAs Project wonk afer to a sures tampletion of a Study. 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