REVISIONARY EXERCISE - 5
|Orders, Invoice, Bills, Budget, Scenario:|
10.6.2007 - Capital introduced by Tamil selvam - Rs.5,00,000.
11.6.2007 - Amount Paid into Bank of India.
01.8.2007 - Purchase Order placed for 1,500 meters of cloth at Rs.100 per meter to Uday & Co. Due on 16.8.07; By Lorry; Payment after delivery; 2 Installments.
15.8.2007 - Machinery bought from Mahaveer Agencies on credit. - Rs.2,00,000.
16.8.2007 - Purchases made from Uday & Co on credit 1,000 meters of cloth at Rs.100 per meter. 30 days due (Prepare Invoice).
10.9.2007 - Sales Order received from Raj & Co for 800 meters of cloth at Rs.200 per meter. Due on 17.9.2007 Delivery by Lorry.
17.9.2007 - Sales made to Raj & Co. 700 meters at Rs.200 per meter on credit 40 days due (Prepare Invoice).
18.9.2007 - Cash withdrawn for personal use - Rs.50,000.
Purchase Budget from 1.9.2007 to 31.10.2007 - Rs 90,000.
Sales Budget from 1.9.2007 to 31.10.2007 - Rs.50,000.
Depreciation to be charged to Machinery (Prepare Budget and Scenario) - Rs.15,000.