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प्रश्न
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.
उत्तर
| In the Books of Mr. J. Jehangir | |||||
| Dr. | Trading and Profit and Loss A/c for the year ended 31.12.2018 |
Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Opening Stock | - | 25,000 | By Sales Cash | 2,55,000 | 2,50,000 |
| To Purchases | 1,40,000 | 1,37,000 | Less: Returns | (5,000) | |
| Less: Returns | (3,000) | By Closing Stock | - | 50,000 | |
| To Wages | - | 13,000 | |||
| to Factory Power & Fuel | - | 16,000 | |||
| To Carriage Inwards | - | 2,000 | |||
| To Gross Profit | - | 1,07,000 | |||
| 3,00,000 | 3,00,000 | ||||
| To Rates & Taxes | - | 11,900 | By Gross Profit | - | 1,07,000 |
| To Carriage OutWard | - | 5,000 | By Commission Earned | - | 2,000 |
| To Discount Allowed | - | 6,000 | By Disc. Received | - | 5,000 |
| To Salaries | - | 25,500 | By Income from above Investments @ 10% | - | 5,000 |
| To Rent Paid | - | 8,300 | |||
| To Bad Debt | 2,000 | 1,800 | |||
| Less: Bad Debt Recovered | (200) | ||||
| To Net Profit | - | 60,500 | |||
| 1,19,000 | 1,19,000 | ||||
| Balance Sheet as on 31.12.2018 | ||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Capital | 2,36,000 | 2,81,500 | Machinery | 1,00,000 |
| Add: Net Profit | 60,500 | Sundry Debtors | 48,000 | |
| Less: Drawings | (15,000) | Loose Tools | 10,000 | |
| Bills Payable | - | 3,000 | Bills Receivable | 6,000 |
| Sundry Creditors | - | 20,000 | Investment | 80,000 |
| Bank Overdraft | - | 10,000 | Bank Balance | 20,000 |
| Cash in Hand | 500 | |||
| CIosing Stock | 50,000 | |||
| 3,14,500 | 3,14,500 | |||
APPEARS IN
संबंधित प्रश्न
Closing stock appears in the Final Accounts in the ______.
Distinguish between book keeping and accounting.
Mr. Sputnik, who is always in a hurry, prepares the following trial balance as at 31.12.2019. You are required to prepare the final accounts taking into consideration the trial balance for the year ended 31st December 2018.
| Debit (₹) | Credit (₹) | |
| Capital | 10,180 | |
| Drawings | 3,000 | |
| Opening Stock | 3,500 | |
| Leasehold Premises | 28,000 | |
| Purchases and Sales | 20,300 | 84,180 |
| Salaries and Wages | 5,600 | |
| Carriage Outward | 700 | |
| Rent | 900 | |
| Insurance | 600 | |
| Returns | 160 | 300 |
| Bank of India Current A/c | 2,200 | |
| Union Bank of India Current A/c | 600 | |
| Bad Debts | 300 | |
| Heavy Vehicles | 20,000 | |
| Motor Car | 11,000 | |
| Vehicle and Car Expenses | 2,500 | |
| Rent Earned | 1,500 | |
| Commission Paid | 800 | |
| Debtors and Creditors | 4,000 | 5,000 |
| Cash | 200 | |
| Import Duty and Clearing Charges | 1,600 | |
| Packing Expenses | 2,400 | |
| Loan from Mr. Baxi (long term) | 6,000 | |
| 1,07,760 | 1,07,760 |
Closing stock is ₹ 7,500.
From the following trial balance of Mr. Roobex, prepare the final accounts of the year ended 31.12.2018.
| Debit (₹) | Credit (₹) | |
| Freehold Land | 60,000 | |
| Office and Factory Buildings | 40,000 | |
| Purchase and Sales | 1,20,000 | 2,05,000 |
| Stock | 30,000 | |
| Returns | 3,500 | 5,500 |
| Wages | 9,000 | |
| Salaries | 10,000 | |
| Office Expenses and Petties | 1,400 | |
| Carriage on Purchases and Import Duty | 2,200 | |
| Stationery and Printing Literature | 2,750 | |
| Discounts | 3,700 | |
| Bad Debts | 1,200 | |
| Capital of Mr. Roobex | 1,15,000 | |
| Loan from Miss Setalwad @ 10% (gainfully employed through the year) | 15,000 | |
| Insurance | 1,800 | |
| Sundry Debtors and Creditors | 40,000 | 12,000 |
| Interest Paid on Loan | 1,500 | |
| Commission for Agency Work | 1,600 | |
| Cash and Bank Balances | 7,700 | |
| Investments | 20,000 | |
| Petty Cash | 250 | |
| Bills Receivable and Payable | 9,000 | 2,000 |
| Bad Debts Recovered | 500 | |
| 3,60,300 | 3,60,300 |
Closing stock on 31.12.2018 was ₹ 56,000.
The following is the trial balance of Miss H. Seattle as on 31st December, 2018.
| Dr. (₹) | Cr. (₹) | |
| Salaries | 5,500 | |
| Wages | 33,000 | |
| Returns Accounted | 10,000 | 8,000 |
| Carriage Inwards | 12,000 | |
| Carriage Outwards | 10,000 | |
| Rent | 3,300 | |
| Insurance | 7,000 | |
| Stock on 1.1.2018 | 15,000 | |
| Rates and Taxes | 2,700 | |
| Power and Fuel | 8,000 | |
| Plant and Machinery | 1,00,000 | |
| Furniture and Fixtures | 10,000 | |
| Purchases | 1,20,000 | |
| Sales | 2,05,000 | |
| Investments (long-term basis) | 80,000 | |
| Income from Investments | 10,000 | |
| Commission Receipts | 12,000 | |
| Discount to Customers and from Creditors | 4,000 | 6,000 |
| Bad Debts Written off | 2,000 | |
| Cash in Bank | 25,000 | |
| Cash in Hand | 500 | |
| Capital | 2,20,000 | |
| Debtors' and Creditors' Personal Accounts | 52,000 | 39,000 |
| 5,00,000 | 5,00,000 |
Compile the final accounts for the owner, after attending to the adjustment given below.
- Closing stock is evaluated at the lower market price ₹ 42,000 ignoring the cost price, which is higher by ₹ 4,000.
The following is the trial balance of Mr. M. Moonlite as on 31.3.2019. The Closing Stock as on 31.3.2019 is ₹ 40,000.
| Debit (₹) | Credit (₹) | |
| Salaries | 20,000 | |
| Royalty | 55,000 | |
| Capital | 2,60,000 | |
| Freehold Land | 60,000 | |
| Stock as on 1.4.2018 | 25,000 | |
| Goods Traded in | 2,05,000 | 3,55,000 |
| Drawings | 5,000 | |
| Brokerage | 4,000 | 6,000 |
| Motive Power & Coke | 6,000 | |
| Insurance | 7,000 | |
| Cash & Bank | 20,000 | 9,900 |
| Administrative & Selling Expenses | 55,900 | |
| Wages | 15,000 | |
| Returns | 10,000 | 5,000 |
| Suppliers & Customers | 30,000 | 15,000 |
| Interest on Overdraft and Borrowings | 18,000 | |
| Electricity | 5,000 | |
| Goodwill | 50,000 | |
| Leasehold Land | 20,000 | |
| Fixed Assets (other than land) | 1,50,000 | |
| 7,05,900 | 7,05,900 |
Compile the final accounts for the owner.
From the following Trial Balance of Rinky, prepare a Trading Account and a Profit & Loss Account for the year ended 31.12.2018 and a Balance Sheet on that date.
| TRIAL BALANCE | |||
| Dr. (₹) | Cr. (₹) | ||
| Building | 20,000 | Capital Account | 25,000 |
| Depreciation on above | 1,000 | Provision for Depreciation on Machinery on 1.1.2018 | 800 |
| Machinery | 6,800 | Creditors | 12,000 |
| Furniture | 2,000 | Bank Loan | 6,000 |
| Drawings | 1,500 | Sales | 53,000 |
| Debtors | 8,000 | Outstanding Carriage Inward | 200 |
| Cash | 1,600 | ||
| Opening Stock | 5,000 | ||
| Purchase | 31,000 | ||
| Wages | 3,000 | ||
| Carriage Inwards | 400 | ||
| Salary | 4,000 | ||
| Prepaid Salary | 1,000 | ||
| Advertisement | 300 | ||
| Insurance | 3,500 | ||
| Packing Materials | 7,900 | ||
| 97,000 | 97,000 | ||
Closing Stock ₹ 15,000.
The following is the Trial Balance of Amrit Roy as on 31st December 2018:
| Debit (₹) | Credit (₹) | |
| Capital | 25,000 | |
| Building | 30,000 | |
| Furniture | 2,640 | |
| Scooter | 4,000 | |
| Returns | 2,300 | 1,600 |
| Opening Stock | 8,000 | |
| Purchases and Sales | 33,800 | 56,040 |
| Bad Debts | 400 | |
| Carriage Inwards | 600 | |
| General Expenses | 1,200 | |
| Bad Debts Provision | 700 | |
| Bank Loan | 5,000 | |
| Interest on Bank Loan | 300 | |
| Commission | 900 | |
| Insurance and Taxes | 2,000 | |
| Scooter Expenses | 2,600 | |
| Salaries | 4,400 | |
| Cash in Hand | 2,000 | |
| Debtors and Creditors | 3,000 | 8,000 |
| 97,240 | 97,240 |
You are required to prepare the final accounts for the year ending 31st December 2018.
Closing Stock on 31.12.2018 was valued at ₹ 4,340.
On 31st December, 2018 the following Trial Balance, was extracted from the books of Mohan:
| Debit (₹) | Credit (₹) | |
| Capital | 30,000 | |
| Drawings | 5,000 | |
| Drs. and Crs. | 20,000 | 10,000 |
| Loan | 9,500 | |
| Interest on Loan | 300 | |
| Cash | 2,000 | |
| Provision for Bad Debts | 700 | |
| Stock (1.1.2018) | 6,800 | |
| Motor Vehicles | 10,000 | |
| Bank | 3,500 | |
| Land and Building | 12,000 | |
| Bad Debts | 500 | |
| Purchases and Sales | 66,000 | 1,10,000 |
| Returns | 8,000 | 1,500 |
| Carriage Outward | 2,500 | |
| Carriage Inward | 3,000 | |
| Salaries | 9,000 | |
| Rent and Insurance | 3,000 | |
| Advertising | 3,500 | |
| Discount | 500 | |
| General Expenses | 3,400 | |
| B/R and B/P | 6,000 | 2,000 |
| Rent Received | 300 | |
| 1,64,500 | 1,64,500 |
Prepare a Trading Account and a Profit and Loss Account for the year ended 31st December, 2018 and a Balance Sheet as on that date after taking into account the following:
Stock on 31st December, 2018 was valued at ₹ 7,000.
Prepare a Trading, Profit and Loss account of Mr. A. Awasthi for the year ending on 31st March, 2022 and a Balance Sheet as on 31st March, 2022.
| Particulars | Amount (Dr.) Rs. | Amount (Cr.) Rs. |
| Capital | 60,000 | |
| Drawings | 4,500 | |
| Cash at Bank | 4,200 | |
| Purchase | 66,000 | |
| Sales | 1,35,000 | |
| Purchase Returns | 3,000 | |
| Sales Returns | 6,000 | |
| Discount | 1,200 | |
| Carriage Outwards | 1,800 | |
| Salaries | 18,000 | |
| Trade expenses | 3,600 | |
| Opening stock | 15,000 | |
| Bad debts | 1,800 | |
| Rent | 4,500 | |
| Machinery | 1,08,000 | |
| Furniture | 15,000 | |
| Debtors | 15,000 | |
| Creditors | 30,000 | |
| Stationary | 7,500 | |
| Commission received | 900 | |
| Loan | 43,200 | |
| 2,72,100 | 2,72,100 |
Closing stock on 31st March, 2022 was valued at ₹ 78,000.
