TRANSACTIONS

Mr H.s Kochar decided to start a TRAVEL WORLD business named SAMSONITE Salesp) Itd. A Trading Company On 1" April 2002 he invested a sum amount of 4,80,000 for this purpose he took a building costing 4,00,000 and spent 1,00,000 for its overhaul interior and fittings sepanitely to purchase the opening stock which is almost amounted to "1,80,000 he appointed ICICI Bank and secured loan to the extent of 75% of the cost of stock It was agreed that the loan will be repaid I four equal instalment as follows

At the end of 1" year: "90,000+ 36,000 for the interest

At the end of 2 year: 90,000+ 27000 for the interest

At the end of 3 year: "90,000+ 18,000 for the interest

At the end of 4 year 90,000+9,000 for the interest

After commencing the TRAVEL WORD on 1" April, 2002 he had spent some amount

of 10,000 for electric fittings on 5 April 2002 and on 16 April he placed on

fixed deposit amount at bank by transferring from current account 100,000. on 18 April he spent 40,000 for getting pamphlets printed and distributed on 18 April goods costing 20,000 were Sold To Mr. kapoor at 40% trade discount on 10 July 2002 goods of 500 were returned to Mr. Kapoor on 19" July 2002 Transportation charges for 100 octroi 150 was paid in cash on 28 July 2002 trade expense charged paid in cash 500, On 30 July 2002 miscellancous expenses charged for newspaper, tea, coffee ete 800, on 15 September 2002 for 10,000 furniture purchased bags from company for 5,000 on 1 October 2002 on credit on 10 October 2002 was made by cheque for 800 was issued to petty cashier on 1 November 2002 and on Ist December 2002 the company gave 10% commission on sales up to 4 lakhs on 15 January 2003 Mr. kapoor who owned us 10,000 were declared insolvent and 25 paisa in a rupee is received at the end of year i.e. on 31" march 2003 interest o loan is paid deprecation on building at 20% on 4,00,000 salary paid to employees 10,000 cash sales for "4,00,000 on credit to debtors who paid 90.000 cash and rest 80,000 are debtors