The Somaiya School

Academic Year 2023-2024

A Project Report
On
Accounting Cycle

Submitted By
Name: Tanvi Asmi Beck
Grade: XI Commerce
Subject: Accountancy
Roll No. : 07
Seat No. :
 The Somaiya School
Certificate

This is to certify that Tanvi Asmi Beck, student of

standard XI Commerce has successfully completed the
Accountancy Project Work in partial fulfillment of
curriculum of the CENTRAL BOARD OF SECONDARY
EDUCATION for the year 2023-2024.

Ms. Parveen Shaikh

Teacher Incharge Principal

Date: School Seal

 Acknowledgement
During the process of preparation of the project I
have got immense help from various persons, without
which it would not have been possible to achieve this
goal.

First of all, I would like to place on record the efforts

that our respected Principal has made by granting
permission on various fronts of conducting research
and also by providing materialistic support wherever
needed.

I would like to thank Mrs. Sushma Ma’am who guided

me in doing these projects. She provided me with
invaluable advice and helped tremendously in
successful completion of the project.

I am equally thankful to my parents for giving moral

support and ideas to carve out this project.

Last but not the least, I would like to thank everyone

who helped and motivated me to work on this
project.
 Table Of Contents

Sr. No. Title Page No. Sign

1 Cover Page
2 Certificate
3 Acknowledgement
4 Introduction
5 Introduction
6 Objective
7 Transactions
8 Journal
9 Ledger
10 Trial Balance
Data analysis & graphical
11
presentation
12 Conclusion
13 Bibliography
 INTRODUCTION
Ryan always dreamt to be a businessman and
was a crazy technophile since childhood. At
the age of 26, he completed his MBA degree
from abroad and joined a company called
Texas Electronics as a manager which dealt
with electronic devices. He used to earn a
good amount from that company but the
dream of having a self built business was still
pending. So finally at the age of 29 he
returned back to India and finally started his
business of electronic devices and gadgets. He
named his company: ‘Ryan Electronics’ and
this was a Bengaluru based business. He and 5
of his friends run this business in a shopping
center in Bengaluru. They started their
business in March last year and the business
has been going well so far.
 OBJECTIVES
Here are the following objectives of this project:-
➢ To understand the idea of how a business is started.
➢ To understand how GST plays an important role in
business transactions.
➢ To understand the motive behind starting a
business: to earn profit
➢ To understand the idea of trade and cash discounts.
➢ To understand the concept of journals and ledgers.
➢ To understand the concept of ledger posting.
➢ To understand the different types of accounts
which are involved in the business transactions.

METHODOLOGY
I have completed this project with my creative
skills. I had started off with thinking of a story line
for this business, followed by the daily
transactions that every other business deals with
on a daily basis.
 The following are the transactions from the book of
Ryan electronics (Bengaluru) charging CGST and
SGST @5% each:-
*these transactions are not subject to GST

Sl no. TRANSACTIONS AMOUNT

March ‘23
1 *Started business with cash 50,00,000
2 *Cash deposited into the bank 30,00,000
3 Purchased goods (3000 computers) for cash at 8,00,000
25% trade discount
3 Machinery Purchased for cash 5,50,000
& Installation expenses 50,000
3 Computer Purchased paid by cheque 50,000
4 Goods sold (2,000 Mouses) for Cash 7,00,000
4 *Carriage paid 18,000
9 Goods purchased (1,000 Monitors) from 10,00,000
Sharma&Co. (Bengaluru) at 20% trade discount
11 Goods Sold ( 500 Keyboards) to Khan Bros. 20,00,000
(Bengaluru) at 40% trade discount
12 *Investment purchased by cheque 2,00,000
12 Amount paid to Sharma&Co. by cheques 4,00,000
14 Furniture Purchased for office use paid by 1,50,000
cheque
18 *Cash withdrawn for personal use 40,000

29 Cheque received from Khan Bros. 8,00,000

April ‘23
1 Goods purchased (1000 Televisions) from 10,00,000
Sharma&Co. at 20% trade discount
5 Goods sold for Cash 5,00,000
13 Goods Sold ( 500 Computers and 500 Mouses) 10,00,000
to Khan Bros. at 20% trade discount
16 *Cash withdrawn from bank for office use 1,00,000
17 *Advertisement Expenses paid by cheque 1,20,000
18 *Insurance premium paid by cheque 20,000
19 Cash received from Khan Bros. 2,00,000
20 Cash paid to Sharma&Co. 1,50,000
20 *Commission Received 20,000
21 Wages paid 15,000
22 *Cash withdrawn for personal use 40,000
23 *Expenses paid by cheque:-
Salary 25,000
Rent 16,000
24 *Depreciation charge on machinery 5,000
25 *Depreciation charge on Computer 2,500
27 *Bank charges charged by bank 5,000
28 *Interest received on investment 4,000
DATE PARTICULARS L.F DEBIT CREDIT
Mar,23
1 Cash A/C Dr. 50,00,000
To Capital A/C 50,00,000
(Being cash getting introduced)
2 Bank A/C Dr. 30,00,000
To Cash A/C 30,00,000
(Being cash deposited in the bank)
3 Purchase A/C Dr. 6,00,000
Input CGST A/C Dr. 30,000
Input SGST A/C Dr. 30,000
To Cash A/C 6,60,000
(Being goods purchased for cash @ 5%
CGST & SGST each)
3 Machinery A/C Dr. 6,00,000
Input CGST A/C Dr. 30,000
Input SGST A/C Dr. 30,000
To Cash A/C 6,60,000
(Being machinery purchased for cash
5,50,000 and installation expenses paid
50,000 discount @5% CGST & SGST)
3 Computer A/C Dr. 50,000
Input CGST A/C Dr. 2,500
Input SGST A/C Dr. 2,500
To Bank A/C 55,000
(Being computer bought by cheque @5%
CGST & SGST each)
4 Cash A/C Dr. 7,70,000
To Sales A/C 7,00,000
To Output CGST A/C 35,000
To Output SGST A/C 35,000
(Being goods sold for cash @5% CGST
& SGST each)

4 Carriage A/C Dr. 18,000

To Cash A/C 18,000
(Being carriage paid)
9 Purchase A/C Dr. 10,00,000
Input CGST A/C Dr. 50,000
Input SGST A/C Dr. 50,000
To Sharma&Co. A/C 11,00,000
(Being goods purchased on credit at 25%
trade discount @5% CGST & SGST )
11 Khan Bros. A/C Dr. 13,20,000
To Sales A/C 12,00,000
To Output CGST A/C 60,000
To Output SGST A/C 60,000
(Being goods sold on credit at 40% trade
discount @5% CGST & SGST each)
12 Investment A/C Dr. 2,00,000
To Bank A/C 2,00,000
(Being investment purchased by cheque)
12 Sharma&Co. A/C Dr. 4,00,000
Input CGST A/C Dr. 20,000
Input SGST A/C Dr. 20,000
To Bank A/C 4,40,000
(Amount paid back to Sharma&Co. By
cheque @5% CGST & SGST each)
 14 Furniture A/C Dr. 1,50,000
Input CGST A/C Dr. 7,500
Input SGST A/C 7,500
To Bank A/C 1,65,000
(Being furniture purchased by cheque
@5% CGST & SGST each)
18 Drawing A/C Dr. 40,000
To Cash A/C 40,000
(Being cash withdrawn for personal use)

29 Bank A/C Dr. 8,80,000

To Khan Bros. A/C 8,00,000
To Output CGST A/C 40,000
To Output SGST A/C 40,000
(Being cheque received @5% CGST &
SGST)
Apr ‘23
1 Purchase A/C Dr. 8,00,000
Input CGST A/C Dr. 40,000
Input SGST A/C Dr. 40,000
To Sharma&Co. A/C 8,80,000
(Being goods purchased on credit @20%
T.D @5% CGST & SGST each)
5 Cash A/C Dr. 5,50,000
To Sales A/C 5,00,000
To Output CGST A/C 25,000
To Output SGST A/C 25,000
(Being goods sold for cash @5% CGST
& SGST each)
13 Khan Bros. A/C Dr. 8,80,000
To Sales A/C 8,00,000
To Output CGST A/C 40,000
To Output SGST A/C 40,000
(Being goods sold on credit at 20% trade
discount @ 5% C.D @5% CGST &
SGST each)

16 Cash A/C Dr. 1,00,000

To Bank A/C 1,00,000
(Being cash withdrawn for office use)
17 Advertisement A/C Dr. 1,20,000
To Bank A/C 1,20,000
(Being advertisement paid by cheque)
18 Insurance Premium A/C Dr. 20,000
To Bank A/C 20,000
(Being Insurance premium paid by
cheque)
19 Cash A/C Dr. 2,20,000
To Khan Bros. A/C 2,00,000
To Output CGST A/C 10,000
To Output SGST A/C 10,000
(Being cash received from Khan Bros.
@5% CGST & SGST each)
20 Sharma&Co. A/C Dr. 1,50,000
Input CGST A/C Dr. 7,500
Input SGST A/C Dr. 7,500
To Cash A/C 1,65,000
(Being cash paid to Sharma&Co. @5%
CGST & SGST each)
20 Cash A/C Dr. 20,000
To Commision Received A/C 20,000
(Being commision received)
21 Wages A/C Dr. 15,000
Input CGST A/C Dr. 750
Input SGST A/C Dr. 750
To Cash A/C 16,500
(Being wages paid @5% CGST & SGST
each)
22 Drawing A/C Dr. 40,000
To Cash A/C 40,000
(Being cash withdrawn for personal use)
23 Salary A/C Dr. 25,000
Rent A/C Dr. 16,000
To BankA/C 41,000
(Being salary and rent getting paid by
cheque)
24 Depreciation A/C Dr. 7,500
To Machinery A/C 5,000
To Computer A/C 2,500
(Being depreciation charged on
machinery and computer)
25 Bank charges A/C Dr. 5,000
To Bank A/C 5,000
(Being bank charges charged by bank)
27 Cash A/C Dr. 4,000
To Interest Received A/C 4,000
(Being interest received on investment )
TOTAL 1,76,17,000 1,76,17,000
 Cash A/C
Debit Credit

Date Particular J.F Amount Date Particular J.F Amount

Mar, 23 Mar, 23
1 to capital a/c 50,00,000 2 by bank a/c 300000
6 to sales a/c 700000 3 by purchase a/c 600000
6 to output cgst a/c 35000 3 by input cgst a/c 30000
7 to output sgst a/c 35000 3 by input sgst a/c 30000
3 by machinery a/c 600000
3 by input cgst a/c 30000
3 by input sgst a/c 30000
5 by carriage a/c 18000
18 by drawing a/c 40000
31 By balance c/d 40,92,000
57,70,000 57,70,000
April, 23 April, 23
1 To balance b/d 4092000 20 By sharma & Co. a/c 150000
5 To Sales A/C 500000 20 By Input CGST A/C 7500
5 To Output CGST A/C 25000 20 By Input CGST A/C 7500
5 To Output SGST A/C 25000 21 By Wages A/C 15000
16 To bank a/c 100000 21 By Input CGST A/C 750
19 To Khan Bros. A/C 200000 21 By Input SGST A/C 750
19 To Output CGST A/C 10000 22 By drawing a/c 40000
19 To Output SGST A/C 10000 30 By balance c/d 4764500
20 To commission r/d a/c 20000
27 To interest received a/c 4000
4986000 4986000
May, 23 May,23
1 By balance b/d 4764500
 Capital A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
Mar, 23 Mar, 23
1 to balance c/d 5000000 1 by cash a/c 5000000
5000000 5000000
apr, 23 apr,23
1 by balance b/d 5000000

Bank A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
1 to cash a/c 3000000 3 by computer a/c 50000
29 To Khan Bros. A/C 800000 3 by Input CGST a/c 2500
29 To OutputCGST A/C 40000 3 by Input SGST a/c 2500
29 To OutputSGST A/C 40000 12 By Investment A/C 200000
12 By Sharma&Co. A/C 400000
12 By Input CGST A/C 20000
12 By Input SGST A/C 20000
14 By Furniture A/C 150000
14 By Input CGST A/C 7500
14 By Input SGST A/C 7500
31 By balance c/d 3020000
3880000 3880000
apr,23 apr,23
1 To balance b/d 3020000 16 By Cash A/C 100000
 17 By Advertisement A/C 120000
18 By Insurance Premium a/c 20000
23 By Salary A/C 25000
23 By rent a/c 16000
25 By Bank charges a/c 5000
31 By balance c/d 2734000
3020000 3020000
may,23 may,23
1 To balance b/d 2734000

Purchase A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
3 To cash a/c 600000 31 By balance c/d 1600000
9 To sharma & co. a/c 1000000
1600000 1600000
apr,23 apr,23
1 To balance b/d 1600000 30 By balance c/d 2400000
1 To Sharma&Co. A/C 800000
2400000 2400000
may,23 may,23
1 To balance b/d 2400000
 Carriage A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
4 To cash a/c 18000 31 By balance c/d 18000
18000 18000
apr,23 apr,23
1 To balance b/d 18000

Investment A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
12 To bank a/c 200000 31 By balance c/d 200000
200000 200000
apr,23 apr,23
1 To balance b/d 200000

Machinery A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
3 To cash a/c 600000 31 By balance c/d 600000
600000 600000
apr,23 apr,23
1 To balance b/d 600000 24 By depreciation a/c 5000
30 By balance c/d 595000
600000 600000
may,23 may,23

1 To balance b/d 595000

Computer A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
Mar, 23 mar, 23
3 to bank a/c 50000 31 by balance c/d 50000
50000 50000
apr,23 apr,23
1 To balance b/d 50000 24 By depreciation a/c 2500
30 By balance c/d 47500
50000 50000
may,23 may,23
1 To balance b/d 47500

Advertisement A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
17 To bank a/c 120000 30 By balance c/d 120000
120000 120000
may,23 may,23
1 To balance b/d 120000
 Wages A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
21 to cash a/c 15000 30 by balance c/d 15000
15000 15000
may,23 may,23
1 To balance b/d 15000

Sales A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
31 To balance c/d 1900000 4 By cash a/c 700000
11 By khan bros. a/c 1200000
1900000 1900000
apr,23 apr,23
30 To balance c/d 3200000 1 By balance b/d 1900000
5 By cash a/c 500000
13 By khan bros. a/c 800000
3200000 3200000
may,23 may,23
1 By balance b/d 3200000
 Sharma&Co. A/C (CREDITORS)
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
12 To bank a/c 400000 9 By purchase a/c 1000000
31 To balance c/d 700000 9 By Input CGST a/c 50000
9 By Input SGST A/C 50000
1100000 1100000
apr,23 apr,23
20 To Cash A/C 150000 1 By balance b/d 700000
30 To balance c/d 1430000 1 By Purchase A/C 800000
1 By Input CGST A/C 40000
1 By Input SGST A/C 40000
1580000 1580000
may,23 may,23
1 By balance b/d 1430000

Khan Bros. A/C (DEBTORS)

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
11 To Sales A/C 1200000 29 By Bank A/C 800000
11 To Output CGST A/C 60000 31 By balance c/d 520000
11 To Output SGST A/C 60000
1320000 1320000
apr,23 apr,23
1 To balance b/d 520000 19 By Cash A/C 200000
 13 To Sales A/C 800000 30 By balance c/d 1200000
13 To Output CGST A/C 40000
13 To Output SGST A/C 40000
1400000 1400000
may,23 may,23
1 To balance b/d 1200000

Furniture A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
14 To Bank A/C 150000 31 By balance c/d 150000
150000 150000
apr,23 apr,23
1 To balance b/d 150000

Insurance Premium A/C

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
18 To Bank a/c 20000 31 By balance c/d 20000
20000 20000
may,23 may,23
1 To balance b/d 20000
 Commission received A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
Mar, 23 Mar, 23
31 To balance c/d 20000 20 By cash a/c 20000
20000 20000
apr,23 apr,23
1 By balance b/d 20000

Depreciation A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr,23 apr, 23
24 To machinery a/c 5000 30 By balance c/d 7500
24 To computer a/c 2500
7500 7500
may,23 may,23
1 To balance b/d 7500

Drawing A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar, 23 mar, 23
18 To cash a/c 40000 31 By balance c/d 40000
40000 40000
apr,23 apr,23
1 To balance b/d 40000 30 By balance c/d 80000
22 To cash a/c 40000
 80000 80000
may,23 may,23
1 To balance b/d 80000

Salary A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
23 To bank a/c 25000 30 By balance c/d 25000
25000 25000
may,23
1 To balance b/d 25000

Rent A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
23 To bank a/c 16000 30 By balance c/d 16000
16000 16000
may,23
1 To balance b/d 16000

Bank Charges A/C

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
25 To bank a/c 5000 30 By balance c/d 5000
 5000 5000
may,23 may,23
1 To balance b/d 5000

Interest Received A/C

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
apr, 23 apr, 23
30 To balance c/d 4000 27 By cash a/c 4000
4000 4000
may,23 may,23
1 To balance b/d 4000

Input CGST A/C

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar,23 mar,23
3 to cash a/c 30000 31 By balance c/d 140000
3 To Cash A/C 30000
3 To bank a/c 2500
9 To Sharma&Co. A/C 50000
12 To Bank A/C 20000
14 To Bank A/C 7500
140000 140000
apr,23 apr,23
1 To balance b/d 140000 30 By balance c/d 188250
1 To Sharma&Co. A/C 40000
20 To Cash A/C 7500
 21 To Cash A/C 750
188250 188250
may,23 may,23
1 To balance b/d 188250

Input SGST A/C

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar,23 mar,23
3 to cash a/c 30000 31 By balance c/d 1400000
3 To Cash A/C 30000
3 To bank a/c 2500
9 To Sharma&Co. A/C 50000
12 To Bank A/C 20000
14 To Bank A/C 7500
140000 140000
apr,23 apr,23
1 To balance b/d 140000 30 By balance c/d 188250
1 To Sharma&Co. A/C 40000
20 To Cash A/C 7500
21 To Cash A/C 750
188250 188250
may,23 may,23
1 To balance b/d 188250
 Output CGST A/C
Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar,23 mar,23
31 To balance c/d 135000 4 by Cash A/C 35000
11 By Khan Bros. A/C 60000
29 By Bank A/C 40000
135000 135000
apr,23 apr,23
30 To balance c/d 210000 1 By balance b/d 135000
5 By Cash A/C 25000
13 By Khan Bros. A/C 40000
19 By Cash A/C 10000
210000 210000
may,23 may,23
1 By balance b/d 210000

Output SGST A/C

Debit Credit
Date Particular J.F Amount Date Particular J.F Amount
mar,23 mar,23
31 To balance c/d 135000 4 by Cash A/C 35000
11 By Khan Bros. A/C 60000
29 By Bank A/C 40000
135000 135000
apr,23 apr,23
30 To balance c/d 210000 1 By balance b/d 135000
 5 By Cash A/C 25000
13 By Khan Bros. A/C 40000
19 By Cash A/C 10000
210000 210000
may,23 may,23
1 By balance b/d 210000

In the books of ryan electronics

Trial balance as on 31st March 2024
1 Cash a/c 4764500
2 Capital a/c 5000000
3 Bank a/c 2734000
4 Purchase A/C 2400000
5 Carriage A/C 18000
6 Investment A/C 200000
7 Machinery A/C 595000
8 Computer A/C 47500
9 Advertisement A/C 120000
10 Wages A/C 15000
11 Sales A/C 3200000
12 Sharma&Co. A/C 1430000
13 Khan Bros. A/C 1200000
14 Furniture A/C 150000
15 Insurance Premium A/C 20000
16 Commission received A/C 20000
17 Depreciation A/C 7500
18 Drawing A/C 80000
19 Salary A/C 25000
20 Rent A/C 16000
21 Bank Charges A/C 5000
22 Interest Received A/C 4000
23 Input CGST A/C 143250
24 Input SGST A/C 143250
25 Output CGST A/C 210000
26 Output SGST A/C 210000
TOTAL 12774000 12774000
 While determining profit and loss for his business, Ryan found certain
adjustments, which were as follows:-
1. Closing stock- Rs.10,00,000
2. Outstanding wages and salaries- Rs. 5,000 and Rs. 45,000 respectively.
3. Loss by fire- Rs. 2,000
4. Depreciate machinery to Rs. 4,00,000.

In the books of Ryan Electronics

Trading A/C and Profit & Loss A/C
For the year ended 31st March, 2024
Particulars Amount Amount Particulars Amount Amount
To purchase a/c 2400000 By Sales a/c 3200000
To carriage a/c 18,000 By closing stock a/c 1000000
To wages a/c 15,000 By goods lost by fire a/c 2,000
(+)Outstanding
wages a/c 5,000 20,000
To gross profit c/d 1764000
(tr. to P&L a/c)
4202000 4202000
To insurance
premium a/c 20000 By gross profit b/d 1764000
By commission
To salary a/c 25000 received a/c 20000
(+)Outstanding
salaries a/c 45000 70000 By Interest received a/c 4000
To rent a/c 16000
To advertisement a/c 120000
To depreciation a/c 7500
To depreciation of 195000 202500
 machinery a/c
To bank charges a/c 5000
To net profit c/d 1354500
(tr. to capital)
1788000 1788000

In the books of Ryan Electronics

Balance sheet
For the year ended 31st March, 2024
Liabilities Amount Amount Assets Amount Amount
Capital 5000000 Fixed Assets
(-) Drawings 80000 Machinery 595000
(+) Net profit 1788000 6708000 (-)Depreciation 195000 400000
(+)Interest on capital 2308000 Furniture 150000
Computer 47500
Investment 200000

Current Liabilities Current Assets

Sharma&Co. 1430000 Khan Bros. 1200000
Outstanding:- Cash in hand 4764500
Wages 5000 Cash in bank 2734000
Salaries 45000 50000 Closing stock 1000000
GST set off 166500
10496000 10496000

Ryan electronics gained a profit of Rs. 17,88,000 and is determined to

continue this upgrowth of the company further in future as well.
 Graphs
1)

2)
3)

4)
 Interpretation of graphs

1)Total assets= 10496000 = 52%

Current assets= 9698500 = 48%
Hence, current assets are 92.4% of all the assets.

2)Total assets= 10496000 =92.9%

Fixed assets= 797500 =7.1%
Hence, fixed assets are 7.6% of all the assets.

3)Sales=3200000=64.5%
Gross profit=1764000=35.5%
Hence, 55.1% is the total profit (gross percentage).

4)Sales =3200000= 70.3%

Net profit=1354500= 29.7%
Hence, 44.9% is the total profit (net percentage).
 CONCLUSION
We learned the whole accounting procedure and all
the steps involved in finding the profitability of the
business. We also learned about the different
transactions a business has to go through to survive
in the tough competition in the market. We learned
about different types of accounts like nominal,
personal, and real accounts, and the differences
between asset and liability. We also learned about
the systematic manner of recording transactions in
different books of accounts like journals, ledgers,
trial balances, and final accounts.

BIBLIOGRAPHY
The storyline, transactions, journal, ledger,
trial balance, and final accounts are self-made
and no external material is used. The graphs
were created on Microsoft Excel Sheets.