Business Accounting Assignment

Business Accounting - Assignment No. 01

• Revise the cash book for a period of 03 months and prepare the bank reconciliation statement using bank statements and cash book of a business.
• Photocopies of relevant 03 months bank statement and cash book should be shown.

Edirisinghe Supermarket

• Started by Mr. Saman Edirisinghe with an investment of Rs. 3,000,000.00 (car), Rs. 700,000.00 (furniture), and Rs. 5,000,000.00 (building).
• Transactions during the month of July 2023:
  • Applied assets to the business as capital on 01.07.2023.
  • Purchased 05 bales of rice, 03 bales of sugar, 300 kg of dal, and 100 kg of peas from Ashoka Stores on 01.07.2023.
  • Purchased 50 kg of dried cardamom, 50 kg of halibut, and 30 kg of Keerang dried fruit from Raja Wholesale Shop on 01.07.2023.
  • Made sales of Rs 320,000.00 on 03.07.2023.
  • Made sales on credit to Fernando of Rs 10,000.00 on 04.07.2023.
  • Incurred expenses of Rs 6,500.00 (rent), Rs 45,000.00 (employee wages), and Rs 7,500.00 (electricity bill) on 05.07.2023.
  • Borrowed 50 kg of domestic construction dry chillies, 150 kg of pepper, and 30 kg of dry chillies from Wasantha on 06.07.2023.
  • Gave an advance of Rs 20,000.00 to the petty cash custodian on 07.07.2023.
  • Repatriated Rs 950.00 per kg of country rice, Rs 2,500.00 per kg pepper, and Rs 1,200.00 per kg dry chilli to Wasantha on 08.07.2023.
  • Made sales of Rs 220,000.00 on 09.07.2023.
  • Received Rs 21000.00 from Fernando and paid off a loan of Rs 30,000.00 with a discount of Rs 750.00 on 10.07.2023.
  • Incurred expenses of Rs 7,000.00 (assessment), Rs 3,500.00 (rent), and Rs 25,000.00 (salaries and remuneration) on 12.07.2023.
  • Borrowed Rs 500,000.00 from Ashoka Stores on 12.07.2023.
  • Paid Rs 56,000.00 to Ashoka Stores with a discount of Rs 4,000.00 on 13.07.2023.
  • Incurred expenses of Rs 15,000.00 (salaries and remuneration), Rs 12,000.00 (building maintenance), and Rs 15,000.00 (advertising) on 14.07.2023.
  • Received sales commission income of Rs 17,000.00 and made manual sales of Rs 86,000.00 on 15.07.2023.
  • Received a bank loan of Rs 500,000.00 on 16.07.2023.
  • Purchased furniture for business use of Rs 105,000.00 and electrical equipment from Damra Institute for Rs 200,000.00 on 17.07.2023.