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प्रश्न
Trial Balance as on 31.3.2019 of Ms. Counsel.
| Debit (₹) | Credit (₹) | |
| Purchases and Sales | 2,40,000 | 4,15,000 |
| Wages & Factory Supervisor's Remuneration | 35,000 | |
| Building | 1,80,000 | |
| Machinery & Equipment | 4,75,000 | |
| Commission | 2,800 | 1,600 |
| Freehold Land | 1,00,000 | |
| Watch Dogs Squad | 30,100 | |
| Debit Notes & Credit Notes (issued in connection with goods) |
10,000 | 15,000 |
| Creditors & Debtors | 60,000 | 45,000 |
| Salaries & Staff Welfare | 38,000 | |
| Bill (drawn to guarantee payment) | 10,000 | 7,000 |
| Building Repairs | 15,000 | |
| Cash & Bank | 50,000 | |
| Bonus | 2,500 | |
| Discounts | 3,200 | 14,600 |
| Watch Dogs Upkeep Costs | 6,600 | |
| Accounts of the owner | 35,000 | 5,95,000 |
| Interest-free Loan | 1,00,000 | |
| General Reserve | 1,30,000 | |
| Opening Stock | 30,000 | |
| 13,23,200 | 13,23,200 |
Compile Final Accounts:
- Closing Stock at the cost price is ₹ 8,000 more than the opening stock - but the ruling market price is ₹ 5,000 only, on 31.3.2019.
उत्तर
| In the Books of Ms. Counsel | |||||
| Dr. | Trading and Profit and Loss A/c for the year ended 31.03.2019 |
Cr. | |||
| Particulars | Amount (₹) | Amount (₹) | Particulars | Amount (₹) | Amount (₹) |
| To Opening Stock | - | 30,000 | By Sales Cash | 4,15,000 | 4,05,000 |
| To Purchases | 2,40,000 | 2,25,000 | Less: Returns | (10,000) | |
| Less: Returns | (15,000) | By Closing Stock | - | 35,000 | |
| To Wages & Factory Supervisor's Remuneration | - | 35,000 | |||
| To Gross Profit | - | 1,50,000 | |||
| 4,40,000 | 4,40,000 | ||||
| To Watch Dogs Upkeep cost | - | 6,600 | By Gross Profit | - | 1,50,000 |
| To Commission Paid | - | 2,800 | By Commission Received | - | 1,600 |
| To Salaries & Staff Welfare | - | 38,000 | By Discount Received | - | 14,600 |
| To Building Repairs | - | 15,000 | |||
| To Bonus | - | 2,500 | |||
| To Discount Paid | - | 3,200 | |||
| To Net Profit | - | 98,100 | |||
| 1,66,200 | 1,66,200 | ||||
| Balance Sheet as on 31.03.2019 | ||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Capital | 5,95,000 | 6,58,100 | Building | 1,80,000 |
| Add: Net Profit | 98,100 | Freehold Land | 1,00,000 | |
| Less: Drawings | (35,000) | Sundry Debtors | 60,000 | |
| Bills Payable | - | 7,000 | Machinery & Equipment | 4,75,000 |
| Sundry Creditors | - | 45,000 | Bills Receivable | 10,000 |
| Interest-free loan | - | 1,00,000 | Cash & Bank | 50,000 |
| General Reserve | - | 1,30,000 | Watch Dog Squad | 30,100 |
| Closing Stock | 35,000 | |||
| 9,40,100 | 9,40,100 | |||
APPEARS IN
संबंधित प्रश्न
Answer in One Sentence:
What is a Trading A/c?
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 |
Prepare a Trading, Profit and Loss account of Mr. ABC for the year ending on 31st March, 2023 and a Balance Sheet as on 31st March, 2023.
| Particulars | Amount (Dr.) Rs. | Amount (Cr.) Rs. |
| Capital | 80,000 | |
| Drawings | 4,000 | |
| Cash at Bank | 4,700 | |
| Purchase | 66,000 | |
| Sales | 1,15,000 | |
| 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 | 18,000 | |
| Debtors | 12,000 | |
| Creditors | 30,000 | |
| Stationery | 7,500 | |
| Commission received | 900 | |
| Loan | 43,200 | |
| 2,72,100 | 2,72,100 |
Closing stock on 31st March, 2023 was valued at Rs. 78,000.
It is an account prepared to ascertain the gross profit/loss. It is a nominal account and represents the first stage of final accounts of a trading organisation.
Wages, carriage inward are recorded on the ______ side of the ______.
Sales are recorded on the ______ side of the ______.
Opening stock is the first item on the ______ side of ______.
Mr. Patil, the owner of Jai Hind Engineers, submits the following trial balance to you for the year ended 31st March 2019:
| Dr. (₹) | Cr. (₹) | |
| Purchase and Sales | 16,180 | 75,200 |
| Opening Stock | 6,500 | |
| Drawings | 4,000 | |
| Motor Cycle | 12,500 | |
| Cycles and Carts Delivery | 2,500 | |
| Bad Debts | 200 | |
| Debtors and Creditors | 4,000 | 2,000 |
| Vehicle Expenses | 1,100 | |
| Capital | 8,600 | |
| Bills Receivable and Payable | 800 | 1,000 |
| Bank and Cash Balances | 1,800 | |
| Petty Cash | 100 | |
| Insurance Premium | 500 | |
| Salaries | 900 | |
| Petty Expenses | 300 | |
| Wages | 1,500 | |
| Rent | 3,000 | |
| Godown Rent | 1,800 | |
| General Expenditure | 700 | |
| Bank Loan | 2,000 | |
| Carriage Inwards | 500 | |
| Worker's Equipment | 30,000 | |
| Returns | 200 | 280 |
| 89,080 | 89,080 |
Prepare the final accounts for him. Closing stock is valued at ₹ 5,400.
The following is the trial balance of Mr. R.P. Sharma for the year ended 31st December, 2018. Compile the final accounts for him, after attending to the adjustments and thereafter also submit the required information, listed by him.
| Debit (₹) | Credit (₹) | |
| Land | 1,00,000 | |
| Freehold Premises | 60,000 | |
| Bills Receivable and Payable | 20,000 | 24,000 |
| Wages | 15,000 | |
| Rejection of Goods Including Price Adjustments | 2,500 | 3,500 |
| Personal Accounts Resulting from Credit Sales and Purchases | 31,000 | 15,000 |
| Purchase and Sales Including Cash Transactions | 40,500 | 96,000 |
| Salaries | 7,000 | |
| Insurance and Municipal Taxes | 1,500 | |
| Rentals | 2,000 | 4,500 |
| Bad Debts | 600 | |
| Carriage | 3,000 | |
| Opening Stock | 5,000 | |
| Commission Accounts | 500 | 600 |
| Vehicles | 62,000 | |
| Machinery | 85,000 | |
| Drawings and Capital Accounts | 8,000 | 1,75,000 |
| Loan from the S.F.C. | 1,25,000 | |
| 4,43,600 | 4,43,600 |
Closing stock value 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.
