Dr. Sanjeet Saksena started his clinic in Hamdard Nagar, New Delhi, under the name, Get Well Clinic introducing 5,50,000 as capital. He deposited the cheque in bank account opened in the name of Get Well Clinic in Axis Bank. Enclosed herewith are the original papers relating to his transactions and other information related to the profession/business for the month of August, 2017. S.No. Date
50,400 22 400
Aug 1 Aug
1 Paid Fee to chartered accountant for legal compliances
Aug 2 Hired a premises and paid Security
Aug 5 Purchased Furniture and Fixture from Sumit Furniture, New Delhi
Aug 6 Paid HR India for hiring Staff for the clinic
Aug 10 Purchased Ultrasound Machine Aug 13 Expenditure on Banner and Boards
Aug 14 Printing and Stationery Expenses
Aug 16 Paid security to Airtel for Telephone Line
Aug 16 Cheque issued to Sumit Furniture, New Delhi
16 Expenses on renovation of the clinic Aug 17 Purchased Medicine on Credit from India Medico Ltd.
Aug 20 Withdrew cash from Bank for office uses Aug 25 Expenses incurred on Opening Ceremony
Aug 27 Cash Deposited into Bank Aug 28 Cash Deposited into Bank
Aug 29 Cash Deposited into Bank Aug 30 Cash Deposited into Bank
Aug 31 Cash Deposited into Bank
Medical consulting and medicine dispensing is recorded in Patient's Register. Summary of the Patients Register is as follows:
Aug 27 Aug 28
Aug 29 Aug 30
Medical Consultancy Service )
Sale of Medicine (8)
15,000 14,700 H
CGST and SGST @ 6% each is levied on medicines dispensed. Cash received from Medical Consultancy Service and Sales of Medicine (except the
amount of GST collected) is deposited into bank on the next working day.
Total Salary of staff is 7 40,000 per month that is payable on the 3rd of the next month. Depreciation is charged on machinery at the rate of 10% p.a. and on Furniture and Fixture at the rate of 20% p.a.
Stock of Medicine at the end of the month is 16,800.
Books are maintained following accrual basis of accounting. All the bills were paid through cheque on the same day. Source documents of the transactions are produced below for processing through various stages of the book-keeping cycle.