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प्रश्न
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.
उत्तर
| In the Books of Mr. Roobex | |||||
| 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 | - | 30,000 | By Sales | 2,05,000 | 2,01,500 |
| To Purchases | 1,20,000 | 1,14,500 | Less: Returns | (3,500) | |
| Less: Returns | (5,500) | By Closing Stock | 56,000 | ||
| To Carriage Inward | - | 2,200 | |||
| To Wages | - | 9,000 | |||
| To Gross Profit | - | 1,01,800 | |||
| 2,57,500 | 2,57,500 | ||||
| To Office Expenses and Petties | - | 1,400 | By Gross Profit | - | 1,01,800 |
| To Interest Paid on Loan | - | 1,500 | By Discount Received | - | 3,700 |
| To Salaries | - | 10,000 | By Commission for agency work | - | 1,600 |
| To Stationery and Printing Literature | - | 2,750 | |||
| To Insurance | - | 1,800 | |||
| To Bad Debt | 1,200 | 700 | |||
| Less: Bad Debt Recovered | (500) | ||||
| To Net Profit | - | 88,950 | |||
| 1,07,100 | 1,07,100 | ||||
| Balance Sheet as on 31.12.2018 | ||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) |
| Capital | 1,15,000 | 2,02,950 | Freehold Land | 60,000 |
| Add: Net Profit | 88,950 | Office Land Factory Buildings | 40,000 | |
| 2,03,950 | Bills Receivable | 9,000 | ||
| Less: Drawings | (1,000) | Sundry Debtors | 40,000 | |
| Sundry Creditors | - | 12,000 | Cash & Bank Balance | 7,700 |
| Bills Payable | - | 2,000 | 8% Investments | 20,000 |
| Loan from Miss Setalwad | - | 15,000 | Petty Cash | 250 |
| Closing Stock | 56,000 | |||
| 2,32,950 | 2,32,950 | |||
APPEARS IN
संबंधित प्रश्न
What is meant by purchase returns?
What are the objectives of preparing trading account?
Find out the amount of sales from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 30,000 | Closing stock | 20,000 |
| Purchases less returns | 2,00,000 | Gross profit margin (on sales) | 30% |
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.
From the following trial balance and other additional information obtained from the books of Mr. Sunil Gavaskar, prepare his trading account and the profit and loss account for the half-year ended 30th September, 2018 and his balance sheet as on that date:
| Debit (₹) | Credit (₹) | |
| Capital Account | - | 1,55,000 |
| Drawings Account | 9,000 | |
| Trade Expenses | 12,000 | |
| Cash in Hand | 750 | |
| Cash at Bank | 22,700 | |
| Freehold Premises | 1,30,000 | |
| Stock as on 1.4.2018 | 35,000 | |
| Purchases and Sales | 75,000 | 2,50,000 |
| Returns | 2,800 | 2,000 |
| Carriage Inward | 1,500 | |
| Carriage Outward | 3,500 | |
| Sundry Debtors and Sundry Creditors | 48,000 | 25,000 |
| Bills Receivable and Bills Payable | 22,000 | 10,500 |
| Furniture and Fixtures | 15,400 | |
| Bad Debts | 1,500 | |
| Wages | 25,000 | |
| Salaries | 19,850 | |
| Advertisement | 15,000 | |
| Rent, Rates and Taxes | 3,500 | |
| 4,42,500 | 4,42,500 |
- Stock was valued at ₹ 40,000 on 30.9.2018.
From the following Trial Balance of Mr. P.H. Planner as on 31.3.2019, prepare final accounts for him:
| Debit (₹) | Credit (₹) | |
| Duty, Clearing and Freight | 10,000 | |
| Stock (1.4.2018) | 30,000 | |
| Goodwill | 30,000 | |
| Salary, Bonus and Travel Allowance | 25,000 | |
| Leasehold Premises | 90,000 | |
| Purchases and Sales | 2,40,000 | 3,80,000 |
| Debtors and Creditors | 20,000 | 15,000 |
| Capital and Drawings | 20,000 | 1,60,000 |
| General Expenses | 16,000 | |
| Factory Equipment and Tools | 18,000 | |
| Bank | 5,000 | |
| Interest-free Loan from Mr. P.H. Planner for four years | 80,000 | |
| Wages and Bonus | 35,000 | |
| Cash and Petty Cash | 17,000 | |
| Plant and Machinery | 50,000 | |
| Bill Payable and Receivable | 12,000 | 8,000 |
| Professional Charges | 18,000 | |
| Returns | 7,000 | 4,000 |
| Insurance and Office Expenses | 14,000 | |
| 6,52,000 | 6,52,000 |
Closing Stock is ₹ 45,000.
Trial Balance of Mr. J. Junior as on 31.3.2019:
| Debit (₹) | Credit (₹) | |
| Factory Power | 16,000 | |
| Carriage Charges | 2,500 | |
| Salaries | 20,400 | |
| Sales & Purchases of Goods | 1,40,000 | 2,67,000 |
| Machinery | 1,20,000 | |
| Discounts Received and Allowed | 5,000 | 6,000 |
| Wages (manufacturing activity) | 18,000 | |
| Stock | 25,000 | |
| Commission | 3,800 | |
| Insurance | 8,000 | |
| Loose Tools (Fixed Asset) | 11,000 | |
| Returns of Goods | 5,000 | 6,000 |
| Debtors & Creditors | 45,000 | 18,000 |
| Carriage on Sales | 6,000 | |
| Rent & Rates | 10,800 | |
| Bad Debts Written off & Recovered | 2,000 | 1,600 |
| Investments | 80,000 | |
| Bank Accounts | 22,000 | 10,000 |
| Drawings & Capital | 15,000 | 2,37,000 |
| Bills Payable & Receivable | 6,000 | 4,000 |
| Income from Investments | 6,800 | |
| Cash | 2,500 | |
| 5,60,200 | 5,60,200 |
Compile Final Accounts:
- An inventory of the godown on 31.3.2019 reflected stock value stated as ₹ 50,000.
The following Trial Balance was from the books of Ram as on 31st December 2018.
| TRIAL BALANCE | |||
| Dr. (₹) | Cr. (₹) | ||
| Drawings Account | 7,000 | Capital Account | 90,000 |
| Purchases | 82,210 | Purchase Return | 4,240 |
| Sales Return | 1,820 | Sales | 1,49,840 |
| Opening Stock | 11,460 | Bad Debt Reserve | 4,240 |
| Salaries | 6,280 | Discount | 180 |
| Wages | 8,560 | Sundry Creditors | 16,980 |
| Leasehold Premises | 25,000 | ||
| Rent, Rates & Insurance | 6,940 | ||
| Carriage Inward | 2,310 | ||
| Office Expenses | 9,520 | ||
| Plant & Machinery | 24,000 | ||
| Light & Water | 7,950 | ||
| Bills Receivable | 1,240 | ||
| Sundry Debtors | 38,970 | ||
| Cash at Bank | 12,400 | ||
| Cash in Hand | 2,210 | ||
| Office Furniture | 3,500 | ||
| Travelling Expenses | 9,870 | ||
| Bad Debts | 1,000 | ||
| Carriage Outward | 3,240 | ||
| 2,65,480 | 2,65,480 | ||
Prepare a Trading Account and a Profit & Loss Account for the year ended 31st December 2018 and a Balance Sheet as at that date.
The value of Stock on 31st December 2018 was ₹ 14 920.
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 Trading, Profit and Loss A/c and Balance Sheet of M/s Banerjee Enterprises for the Year ended 31st March, 2010 from the following Trial Balance.
| Heads of Accounts | (Dr.) (₹) | (Cr.) (₹) |
| Opening Stock | 25,000 | - |
| Purchases and Sales | 75,000 | 2,00,000 |
| Discounts | 3,600 | 6,000 |
| Debtors and Creditors | 32,000 | 15,000 |
| Bad debts | 400 | - |
| Cash-in-Hand | 3,000 | - |
| Machinery | 50,000 | - |
| Salaries | 8,000 | - |
| Carriage Inwards | 2,000 | - |
| Wages | 6,000 | - |
| Investments | 20,000 | - |
| Land and Building | 90,300 | - |
| Bank Overdraft | - | 20,000 |
| Commissions | 1,350 | 3,510 |
| Interest on Investments | - | 2,000 |
| Electricity | 2,000 | - |
| Rent | 2,500 | - |
| Insurance | 1,800 | - |
| Capital | - | 76,440 |
| 3,22,950 | 3,22,950 |
Closing stock was ₹ 10,360.
