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प्रश्न
Prepare a Trading, Profit and Loss A/c. and Balance Sheet of M/s. Sultan Enterprises for the year ended 31st March, 2010 from the following Trial Balance:
| Trial Balance as on 31.03.2010 | ||
| Heads of Accounts | Dr. (₹) | CR. (₹) |
| Opening Stock | 15,000 | |
| Salary | 2,400 | |
| Purchase & Sales | 80,000 | 1,20,000 |
| Machinery | 40,000 | |
| Returns | 4,000 | 5,000 |
| Commission Received | 6,000 | |
| Investments | 10,000 | |
| Interest on Investment | 1,200 | |
| Carriage on Purchase | 3,000 | |
| Rent & Rates | 4,000 | |
| Debtors & Creditors | 22,800 | 15,700 |
| Bills Receivable & Bills Payable | 3,400 | 4,100 |
| Cash-in-hand | 6,400 | |
| Wages | 18,600 | |
| Discount Allowed | 5,200 | |
| Royalty Paid | 12,000 | |
| Discount Received | 6,000 | |
| Drawings and Capital | 1,200 | 70,000 |
| 2,28,000 | 2,28,000 | |
Closing Stock was ₹ 15,250.
उत्तर
| In the Book of M/s. Sultan Enterprises | |||||
| Dr. | Trading Account | Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Opening Stock | 15,000 | By Sales | 1,20,000 | 1,16,000 | |
| To Purchase | 80,000 | 75,000 | Less: Return inwards | (4,000) | |
| Less: Returns outwards | (5,000) | By Closing Stock | 15,250 | ||
| To Royalty paid | 12,000 | ||||
| To wages | 18,600 | ||||
| To Carriage on Purchase | 3,000 | ||||
| To P/L A/c | 7,650 | ||||
| (Gross Profit) | 1,31,250 | 1,31,250 | |||
| Dr. | Profit and Loss Account For the year ending 31st March, 2010 |
Cr. | |
| Particulars | Amount (₹) | Particulars | Amount (₹) |
| To Salary | 2,400 | By Trading A/c (Gross Profit) | 7,650 |
| To Rent and Rates | 4,000 | By Commission Received | 6,000 |
| To Discount Allowed | 5,200 | By Interest on Investment | 1,200 |
| By Discount Received | 6,000 | ||
| To Net Profit | 9,250 | ||
| 20,850 | 20,850 | ||
| Balance Sheet as at 31st March, 2010 | ||||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) |
| Capital | 70,000 | 78,050 | Machinery | 40,000 |
| Add: Net Profit | 9,250 | Investment | 10,000 | |
| 79,250 | Debtors | 22,800 | ||
| Less: Drawings | (1,200) | Bills receivable | 3,400 | |
| Creditors | 15,700 | Cash in hand | 6,400 | |
| Bills payable | 4,100 | Closing Stock | 15,250 | |
| 97,850 | 97,850 | |||
APPEARS IN
संबंधित प्रश्न
From the following balances taken from the books of Victor, prepare trading account for the year ended December 31, 2017:
| Particulars | ₹ | Particulars | ₹ |
| Adjusted purchases | 80,000 | Closing stock | 7,000 |
| Sales | 90,000 | Carriage inwards | 3,000 |
| Royalty on purchases of goods | 4,000 | Import duty on purchases of goods | 6,000 |
| Octroi on purchase of goods | 2,000 | Dock charges on purchases | 5,000 |
| Cost of goods manufactured | 5,000 |
Compute the cost of goods sold from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 10,000 | Indirect expenses | 5,000 |
| Purchases | 80,000 | Closing stock | 15,000 |
| Direct expenses | 7,000 |
From the following balances obtained from the books of Mr. Ganesh, prepare trading and profit and loss account.
| Particulars | ₹ | Particulars | ₹ |
| Stock on 01.01.2017 | 8,000 | Bad debts | 1,200 |
| Purchases for the year | 22,000 | Trade expenses | 1,200 |
| Sales for the year | 42,000 | Discount allowed | 600 |
| Expenses on purchases | 2,500 | Commission allowed | 1,100 |
| Financial charges paid | 3,500 | Selling expenses | 600 |
| Expenses on sale | 1,000 | Repairs on office vehicles | 600 |
Closing stock on December 31.12.2017 was ₹ 4,500
Purchases are recorded the ______ side of the ______.
Why is a Trading Account prepared?
From the following balances of Mr. Kumar, prepare final accounts for the year 2018:
| Debit Balance | (₹) | Credit Balance | (₹) |
| Salaries | 400 | Sales | 7,819 |
| Advertising | 42 | Carriage inwards | 9 |
| Postage and Telegrams | 27 | Capital | 3,600 |
| Bad Debts | 28 | Creditors | 1,124 |
| Interest | 130 | Loan | 1,200 |
| Discount (Dr.) | 100 | Debtors | 388 |
| wages | 430 | Fixtures and Fittings | 1,616 |
| Opening Stock | 995 | Buildings | 2,378 |
| Purchases | 6,200 | Machinery | 1,000 |
| Closing Stock | 1,430 |
The following is the Trial Balance of Mr. V. Iyer for the year ended 31st December, 2018. Compile the final accounts for him, after incorporating the adjustments given.
| Dr. (₹) | Cr. (₹) | |
| 10% Loan on Mortgage of Premises | 34,000 | |
| Machinery | 50,000 | |
| Debtors and Creditors | 24,000 | 21,400 |
| Loose Tools | 5,000 | |
| Premises (owner built and mortgaged) | 75,000 | |
| Capital Invested and Cash Drawn | 4,000 | 1,00,000 |
| Stock (1.1.2018) | 18,000 | |
| Sales Against Cash | 48,000 | |
| Sales Against Credit | 72,000 | |
| Salaries | 10,000 | |
| Wages | 4,000 | |
| Carriage Outward | 2,000 | |
| Bad Debts Written off | 500 | |
| Royalty (Direct Expenses) | 3,000 | |
| Cash and Bank Balances | 6,000 | |
| Rent Paid | 5,000 | |
| Commissions | 400 | 500 |
| Purchases (Cash and Credit) and Returns | 66,000 | 6,000 |
| Rates and Taxes | 3,000 | |
| Miscellaneous Expenses | 6,000 | |
| 2,81,900 | 2,81,900 |
Closing stock is valued at ₹ 50,000.
The following is the trial balance of Mr. J. Jehangir as on 31st March, 2018.
| Dr. (₹) | Cr. (₹) | |
| Stock as on 1.4.18 | 25,000 | |
| Rates and Insurance | 11,900 | |
| Factory Power & Fuel | 16,000 | |
| Machineries | 1,00,000 | |
| Loose Tools | 10,000 | |
| Commission Earnings | 2,000 | |
| Discounts Received and Allowed | 6,000 | 5,000 |
| Personal Accounts of Suppliers & Customers | 48,000 | 20,000 |
| Salaries | 25,500 | |
| Wages | 13,000 | |
| Returns (of goods traded in) | 5,000 | 3,000 |
| Carriage Inward | 2,000 | |
| Carriage Outward | 5,000 | |
| Rent | 8,300 | |
| Purchases & Sales | 1,40,000 | 2,55,000 |
| Bad Debts Finalised & Recovered | 2,000 | 200 |
| Bills Receivable & Payable | 6,000 | 3,000 |
| Investments | 80,000 | |
| Income from Above Investments | 5,000 | |
| Bank Balances | 20,000 | 10,000 |
| Cash in Hand | 500 | |
| Capital & Drawings | 15,000 | 2,36,000 |
| 5,39,200 | 5,39,200 |
Compile the final accounts for the owner.
An inventory of the godown on 31.3.2018, reflected unsold stock valued ₹ 50,000.
The following is the trial balance of Mr. P. Crooke as on 31.03.2018.
| Debit (₹) | Credit (₹) | |
| Stock at Start | 30,000 | |
| Fuel & Gas | 5,600 | |
| Capital & Drawings | 8,000 | 3,50,000 |
| Debtors | 30,000 | |
| Bills Receivable & Payable | 12,000 | 8,000 |
| Additional Drawings (other than cash) | 4,000 | |
| Carriage | 9,000 | |
| Purchases & Sales | 1,90,000 | 3,40,000 |
| Bank Accounts | 15,000 | 5,000 |
| Creditors | 16,000 | |
| Returns | 5,000 | 20,000 |
| Office Administrative Expenses | 44,000 | |
| Loans (given & borrowed) | 10,000 | 1,00,000 |
| Petty Cash & Cash Balances | 2,000 | |
| Postage & Telegrams | 900 | |
| Printing & Stationery | 7,500 | |
| Wages | 20,000 | |
| Salaries | 14,000 | |
| Land | 1,50,000 | |
| Factory & Office Premises | 80,000 | |
| Machineries | 2,10,000 | |
| Commission | 8,000 | |
| 8,47,000 | 8,47,000 |
Compile the final accounts for the owner, after attending to the adjustment given below.
Adjustment:
- Stock in the Godown as on 31.3.2018 is ₹ 35,000.
From the following trial balance of Mr. A prepare a Trading Account and a Profit and Loss Ale for the year ending 3tst Dec., 2018 and a Balance Sheet as on that date:
| TRIAL BALANCE | |||
| Debit Balance | (₹) | Credit Balance | (₹) |
| Cash | 10,000 | Sales | 1,80,500 |
| Stock | 40,800 | Returns | 195 |
| Wages | 22,525 | Loan | 20,000 |
| Ourchases | 1,30,295 | Creditors | 30,305 |
| Returns Inward | 2,400 | Discount | 530 |
| Repairs | 1,675 | Capital | 37,500 |
| Bad Debts | 2,310 | ||
| Interest on Loan | 600 | ||
| Salaries | 8,000 | ||
| Sales Tax | 800 | ||
| Octroi | 500 | ||
| Insurance | 1,000 | ||
| Charity | 125 | ||
| Rent | 2,000 | ||
| Machinery | 16,000 | ||
| Debtors | 30,000 | ||
| 2,69,030 | 2,69,030 | ||
Stock on 31st Dec., 2018 was ₹ 40,925.
