Future Group Pvt. Ltd.

General Ledger (For the year ended March 31,2018)

Cash
Date Explanation (only if requried) Debit Credit Balance
April 01, 2017 Borrowings in the form of interest free loan 10000 10000
April 01, 2017 Share Capital infused in the company 15000 25000
April 15, 2017 Future Group bought land at Indore for Cash 1500 23500
April 15, 2017 Future Group built house at site bought in Indore 2000 21500
May 01, 2017 Paid Salary expense to Supervisor in Cash 500 21000
May 01, 2017 Future group received Rent income from FlyHigh600 Pvt. Ltd. In Cash21600
May 31, 2017 Future Group bought land at Srinagar for Cash 5000 16600
May 31, 2017 Future Group built house at site bought in Srinagar 6000 10600
June 01, 2017 Paid Salary expense to Supervisor in Cash 500 10100
July 01, 2017 Paid Salary expense to Supervisor in Cash 500 9600
July 01, 2017 Future Group bought land at Darjeeling for cash 2500 7100
July 01, 2017 Future Group built house at land bought in Darjeeling 3000 4100
July 01, 2017 Paid Rent Expense to FlyHigh Pvt. Ltd. In Cash 3200 900
August 01, 2017 Paid Salary expense to Supervisor in Cash 500 400
August 01, 2017 Borrowings from the Bank at 12% interest rate 2000 0 2400
August 15, 2017 Paid Rent Expense to FlyHigh Pvt. Ltd. In Cash 1000 1400
September 01, 2017 Paid Salary expense to Supervisor in Cash 500 900
September 30, 2017 Received Rent income 30000 30900
October 01, 2017 Paid Salary expense to Supervisor in Cash 500 30400
November 01, 2017 Paid Salary expense to Supervisor in Cash 500 29900
November 01, 2017 Paid Bail expenses in Cash 1000 28900
December 01, 2017 Paid Salary expense to Supervisor in Cash 500 28400
December 01, 2017 Paid commission expense to DreamTeam Pvt. Ltd. 1000 27400
December 15, 2017 Paid commission expense to DreamTeam Pvt. Ltd. 1000 26400
December 15, 2017 Paid commission expense to FlyHigh Pvt. Ltd. 1000 25400
December 15, 2017 Paid commission expense to RCB Pvt. Ltd. 1000 24400
January 01, 2018 Paid Salary expense to Supervisor in Cash 500 23900
January 01, 2018 Received Commission Income 1000 24900
January 15, 2018 Paid Rent Expense to FlyHigh Pvt. Ltd. In Cash 3200 21700
January 31, 2018 Received commission Income from RCB pvt. Ltd. 1000 22700
February 01, 2018 Paid Salary expense to Supervisor in Cash 500 22200
March 01, 2018 Paid Salary expense to Supervisor in Cash 500 21700
March 01, 2018 Paid prepaid insurance expense in cash 2400 19300
March 31, 2018 Received rent income from FlyHigh Pvt. Ltd 600 19900
March 31, 2018 Received cash advance from ABC Company Pvt. 5000
Ltd. 24900

Site/Land
Date Explanation Debit Credit Balance
April 01, 2017 Purchased Land in Bombay on loan 8500 8500
April 15, 2017 Purchased land in Indore on Loan 1500 10000
May 31, 2017 Purchased land in Srinagar in Cash 5000 15000
July 01, 2017 Purchased land in Darjeeling in Cash 2500 17500

House
Date Explanation Debit Credit Balance
April 01, 2017 Built house in Mumbai on loan 7500 7500
April 15, 2017 built house in Indore on Loan 2000 9500
May 31, 2017 Built house in Srinagar in Cash 6000 15500
July 01, 2017 Built house in Darjeeling in Cash 3000 18500

Borrowings
Date Explanation Debit Credit Balance
April 01, 2017 Borrowings from State Government for procuring land
0 at Mumbai
8500 -8500
April 01, 2017 Borrowings from State Governmebt for building a house
0 at7500
Mumbai
-16000
April 01, 2017 Borrowings (interest free) from Owner 10000 -26000
August 01, 2017 Took a loan from Bank at 12% interest rate 2000 -28000

Share Capital
Date Explanation Debit Credit Balance
April 01, 2017 Invested cash 15000 15000

Lodging Income
Date Explanation Debit Credit Balance
May 01, 2017 Received rent income from FlyHigh Pvt. Ltd. 0 600 -600
March 31, 2018 Received rent income from FlyHigh Pvt. Ltd. 0 600 -1200

Commission Income
Date Explanation Debit Credit Balance
January 01, 2018 Received commission income from FlyHigh Pvt. Ltd.
0 1000 -1000
January 31, 2018 Received Commission income from RCB Pvt. Ltd. 0 1000 -2000

Management Fees Income

Date Explanation Debit Credit Balance
September 30, 2018 Received Management Fees income 30000 -30000

Salary Expenses
Date Explanation Debit Credit Balance
May 01, 2017 Paid Salary expense to supervisor 500 0 500
June 01, 2017 Paid Salary expense to supervisor 500 0 1000
July 01, 2017 Paid Salary expense to supervisor 500 0 1500
 August 01, 2017 Paid Salary expense to supervisor 500 0 2000
September 01, 2017 Paid Salary expense to supervisor 500 0 2500
October 01, 2017 Paid Salary expense to supervisor 500 0 3000
November 01, 2017 Paid Salary expense to supervisor 500 0 3500
December 01, 2017 Paid Salary expense to supervisor 500 0 4000
January 01, 2018 Paid Salary expense to supervisor 500 0 4500
February 01, 2018 Paid Salary expense to supervisor 500 0 5000
March 01, 2018 Paid Salary expense to supervisor 500 5500
March 31, 2018 Salar Expense to be paid to Supervisor 500 0 6000

Rent Expenses
Date Explanation Debit Credit Balance
July 01, 2017 Paid rent expense to FlyHigh Pvt. Ltd. 3200 0 3200
August 15, 2017 Paid rent expense to FlyHigh Pvt. Ltd. 1000 0 4200
January 15, 2018 Paid rent expense to FlyHigh Pvt. Ltd. 3200 0 7400

Commission Expense
Date Explanation Debit Credit Balance
December 01, 2017 Paid commission expense to DreamTeam Pvt. Ltd1000 0 1000
December 15, 2017 Paid commission expense to DreamTeam Pvt. Ltd1000 0 2000
December 15, 2017 Paid commission expense to FlyHigh Pvt. Ltd. 1000 0 3000
December 15, 2017 Paid commission expense to RCB Pvt. Ltd. 1000 4000

Bail Expenses
Date Explanation Debit Credit Balance
November 01, 2017 Paid Bail expense for landing in Jail 1000 0 1000

Depreciation Expense
Date Explanation Debit Credit Balance
March 31, 2018 Depreciation Expense for house at Mumbai 900 0 900
March 31, 2018 Depreciation Expense for house at Indore 230 0 1130
March 31, 2018 Depreciation Expense for house at Srinagara 600 0 1730
March 31, 2018 Depreciation Expense for house at Darjeeling 270 2000

Interest Expenses
Date Explanation Debit Credit Balance
December 01, 2017 Interest Expense for INR 2000 loan raken from bank
160 at 12% 0 160
December 15, 2017 Interest Expense for development loan given by1920
state government
0 2080

Consultant Fees Expense

Date Explanation Debit Credit Balance
March 31, 2018 Consultant Fees Expense 1000 0 1000
 Insurance Expense
Date Explanation Debit Credit Balance
March 31, 2018 Insurance Expense for houses 200 0 200

Income Tax expense

Date Explanation Debit Credit Balance
March 31, 2018 Income Tax expense 2856 0 2856

Prepaid Insurance
Date Explanation Debit Credit Balance
March 01, 2018 Prepaid Insurance for houses 2400 0 2400
March 31, 2018 Prepaid Insurance for houses (adjustment entry) 200 2200

Accumulated Depreciation
Date Explanation Debit Credit Balance
March 31, 2018 Accumulated Depreciation Expense for house at Mumbai 900 -900
March 31, 2018 Accumulated Depreciation Expense for house at Indore 230 -1130
March 31, 2018 Accumulated Depreciation Expense for house at Srinagara 600 -1730
March 31, 2018 Accumulated Depreciation Expense for house at Darjeeling270 -2000

Salary Payable
Date Explanation Debit Credit Balance
March 31, 2018 Supervisor Salary Payable 500 -500

Salary Payable
Date Explanation Debit Credit Balance
March 31, 2018 Income Tax Payable 2856 -2856

Unearned Income
Date Explanation Debit Credit Balance
March 31, 2018 Unearned Income from ABC Company 0 5000 -5000

Interest Expense Payable

Date Explanation Debit Credit Balance
December 01, 2017 Interest Expense Payable for Loan of 2000 0 160 -160
December 15, 2017 Interest Expense Payable for development loan from0 state 1920
government
-2080

Salary Payable
Date Explanation Debit Credit Balance
March 31, 2018 Fees payable to Consultant for services rendered 0 1000 -1000