Professional Documents
Culture Documents
Mr. Lalit
(Accountancy Teacher) (Signature)
Comprehensive Project
(Accountancy)
On Jan 07, 2014, Mr. Kumar Mangalam wanted to start a business. So, he decided to start a
business on Agro Seeds. He decided to move on with Agro Seeds as he had an eight-year
experience in private Agro seeds business firm. He decided to name the firm as Agro Biotech
Pvt. Ltd.
He decided to invest ₹10,00,000. He got the amount from different services. He first received
₹3,00,000 from his father, Mr. Aditya from his savings. He applied for a bank loan on
10 Jan,2014 and submitted the necessary documents to State Bank of India (SBI). He
had promised his house for the loan as security. He got an amount of ₹2,50,000 from
his fixed deposit on Feb 2,2014.
He opened a bank account in State Bank of India (SBI) with the name of “AGRO
BIOTECH”. He deposited an amount of ₹2,00,000 and kept the other ₹50,000 as cash-
in-hand on Feb 3,2014. On February 12,2014, the bank loan was sanctioned and an
amount of ₹3,50,000 was transferred to his account. He borrowed ₹73,000 from Mr.
Jayaprakash on 15 Feb,2014 by promising him to pay an amount of ₹7,300 for 10
months and an interest of 1% per month for the total amount. He took a small loan for
the remaining capital of ₹27,000 from Mr. Ritesh on Feb 16,2014. It was interest free
and he had to pay it before December 20,2014 i.e., he had to pay ₹3,000 every month.
Mr. Kumar Mangalam withdrew ₹50,000 from the bank account on Feb 20,2014.
On May 01,2014, Mr. Kumar Mangalam bought a laptop of ₹29,000 by paying cash.
On Sep 08,2014, he bought a printer worth ₹8,000 through cash.
The laptop was supposed to depreciate at 10% per annum and 8% on printer.