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प्रश्न
Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December, 2017 and balance sheet as on that date from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 2,500 | Sales | 7,000 |
| Wages | 2,700 | Purchases | 3,300 |
| Closing Stock | 4,000 | Salary | 2,600 |
| Discount received | 2,500 | Capital | 52,000 |
| Machinery | 52,000 | Cash at Bank | 6,400 |
| Creditors | 8,000 |
उत्तर
Trading and Profit & Loss a/c of Ramasundari for the year
ended 31 Dec 2017
| Dr. | Cr. | |||
| Particulars | ₹ | Particulars | ₹ | |
| To Opening stock | 2,500 | By Sales | 7,000 | |
| To Purchases | 3,300 | By Closing stock | 4,000 | |
| To Wages | 2,700 | |||
| To Gross Profit c/d | 2,500 | |||
| 11,000 | 11,000 | |||
| To Salary | 2,600 | By Gross Profit b/d | 2,500 | |
| To Net Profit c/d | 2,400 | By Discount received | 2,500 | |
| 5,000 | 5,000 | |||
Balance Sheet of Ramasundari
as of 31st March 2018
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Capital | 52,000 | 54,400 | Machinery | 52,000 |
| Add: Net Profit | 2,400 | Cash at bank | 6,400 | |
| Creditors | 8,000 | Closing stock | 4,000 | |
| 62,400 | 62,400 |
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संबंधित प्रश्न
Select the most appropriate alternatives given below and rewrite the sentence :
______________ is a statement which shows the financial position of business on a specific date.
Fill in the blank :
Income Receivable appears on __________ side of Balance Sheet.
Do you agree or disagree with the following statement :
Balance Sheet is a statement as well as an account.
What are wasting assets?
What are fixed assets?
Chennai tennis club had a Match fund showing a credit balance of ₹ 24,000 on 1st April, 2018. The receipt to the fund during the year was ₹ 26,000. Match expenses incurred during the year was ₹ 33,000. How these items will appear in the final accounts of the club for the year ended 31st March, 2019?
Following is the Receipts and payments account of Virudhunagar Volleyball Association for the year ended 31st December, 2018.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | |||
| Receipts | ₹ | ₹ | Payments | ₹ | ₹ |
| To balance b/d | By Match expenses | 25,000 | |||
| Cash in hand | 5,000 | By Upkeep of pavilion | 17,000 | ||
| To Subscription | By Secretary’s honorarium | 18,000 | |||
| 2017 | 10,000 | By Bats and balls purchased | 22,000 | ||
| 2018 | 55,000 | By Grass seeds | 2,000 | ||
| 2019 | 5,000 | 70,000 | By Fixed deposit | 58,000 | |
| To Donations | 40,000 | By Sundry expenses | 3,000 | ||
| To Match fund receipts | 30,000 | By Balance c/d | |||
| To Interest on fixed deposit | 8,000 | Cash in hand | 7,000 | ||
| To Miscellaneous receipts | 5,000 | Cash at bank | 6,000 | 13,000 | |
| 1,58,000 | 1,58,000 | ||||
Additional information:
- On 1.1.2018, the association owned investments ₹ 10,000, premises and grounds ₹ 40,000, stock of bats and balls ₹ 5,000.
- Subscription ₹ 5,000 related to 2017 is still due.
- Subscription due for the year 2018, ₹ 6,000.
Prepare income and expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
What is meant by Grouping and Marshalling of assets and liabilities? Explain the ways in which a balance sheet may be marshalled.
The machinery of ₹ 35,500 is purchased on 1st July 2018 and on the same day ₹ 4,500 are spent on the installation of the Machinery. The proprietor has decided to Depreciate Machinery at the rate of 7% p.a. Calculate the amount of depreciation, assuming that accounting year is ending on 31st March every year.
Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2017.
| ₹ | |
| Opening stock | 50,000 |
| Net sales | 11,00,000 |
| Net purchases | 6,00,000 |
| Direct expenses | 60,0000 |
| Administration expenses | 45,000 |
| Selling and distribution expenses | 65,000 |
| Loss due to fire | 20,000 |
| Closing stock | 70,000 |
