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प्रश्न
The following balances were extracted from the books of Sri S. Kumar on 31st December 2018.
| Dr. (₹) | Cr. (₹) | |
| Capital | 24,500 | |
| Drawings | 2,000 | |
| General Expenses | 2,500 | |
| Building | 11,000 | |
| Machinery | 9,340 | |
| Opening Stock | 16,200 | |
| Power | 2,240 | |
| Taxes & Insurance | 1,315 | |
| Wages | 7,200 | |
| Sundry Debtors | 6,280 | |
| Sundry Creditors | 2,500 | |
| Charity | 105 | |
| Bad Debts | 550 | |
| Bank Overdraft | 11,180 | |
| Sales | 65,360 | |
| Purchases | 47,000 | |
| Scooter | 2,000 | |
| Bad Debt Provision | 900 | |
| Commission | 1,320 | |
| Trade Expenses | 1,780 | |
| Bills Payable | 3,850 | |
| Cash | 100 | |
| 1,09,610 | 1,09,610 |
Stock on 31st December 2018 was valued at ₹ 23,500.
Prepare Final Accounts for the year ended 31st December 2018.
उत्तर
| In the Books of Mr. Sri S. Kumar | |||
| Dr. | Trading and Profit and Loss A/c for the year ended 31.12.2018 |
Cr, | |
| Particulars | Amount (₹) | Particulars | Amount (₹) |
| To Opening Stock | 16,200 | By Sales Cash | 65,360 |
| To Purchases | 47,000 | By Closing Stock | 23,500 |
| To Power | 2,240 | ||
| To Wages | 7,200 | ||
| To Gross Profit | 16,220 | ||
| 88,860 | 88,860 | ||
| To General Expenses | 2,500 | By Gross Profit | 16,220 |
| To Insurance & taxes | 1,315 | By Commission Earned | 1,320 |
| To Bad debt | 550 | ||
| To Charity | 105 | ||
| To Travelling Expenses | 1,780 | ||
| To Net Profit | 11,290 | ||
| 17,540 | 17,540 | ||
| Balance Sheet as on 31.12.2018 | |||||
| Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
| Capital | 24,500 | 33,790 | Building | - | 11,000 |
| Add: Net Profit | 11,290 | Machinery | - | 9,340 | |
| Less: Drawings | (2,000) | Scooter | - | 1,240 | |
| Sundry Creditors | - | 2,500 | Sundry Debtors | 6,280 | 5,380 |
| Bank Overdraft | - | 11,180 | Less: Bad Debt Provision | (900) | |
| Bills Payable | - | 3,850 | Cash in hand | - | 100 |
| Closing Stock | - | 23,500 | |||
| 51,320 | 51,320 | ||||
APPEARS IN
संबंधित प्रश्न
Carriage inwards will be shown ______.
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
Closing stock appears in the Final Accounts in the ______.
Sales are recorded on the ______ side of the ______.
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.
The following is the trial balance obtained from the books of Mr. G. Vishwanath as on 30th June, 2019:
| Debit (₹) | Credit (₹) | |
| Capital | 50,000 | |
| Drawings | 1,000 | |
| Stock as on 1.7.2018 | 28,000 | |
| Loose Tools as on 1.7.2018 | 1,000 | |
| Sundry Debtors and Sundry Creditors | 25,000 | 15,000 |
| Purchases and Sales | 90,000 | 1,72,000 |
| Returns | 750 | 550 |
| Discounts | 250 | 300 |
| Land and Building | 88,000 | |
| Salaries and Wages | 33,000 | |
| Carriage Inward | 1,200 | |
| Carriage Outward | 1,500 | |
| Insurance | 1,000 | |
| Commission | 18,550 | |
| Cash in Hand | 1,700 | |
| Bank Overdraft | 20,000 | |
| Advertisement | 2,000 | |
| Bills Receivable and Bills Payable | 7,500 | 5,500 |
| 2,81,900 | 2,81,900 |
You are required to prepare Mr. Vishwanath's trading account and profit and loss account for the period ended 30 June, 2019 and a balance sheet as on that date after taking into account the following adjustments.
- Stock valued on 30.6.2019 at ₹ 25,000.
Mr. P.H. Mehta is in business. The following balances were extracted from the books as on 31.12.2018. You are required to prepare the Trading Account and the Profit and Loss Account for the year ended 31.12.2018 and the Balance Sheet as on that date.
| Debit (₹) | Credit (₹) | |
| Capital | 1,98,000 | |
| Drawings | 10,000 | |
| Purchases and Returns Outward | 1,18,800 | 500 |
| Salaries | 21,650 | |
| Rate and Taxes | 950 | |
| Office Lighting and Cooling | 2,700 | |
| Import Duty | 2,200 | |
| Insurance | 250 | |
| Agency Commission | 900 | |
| Advertising | 5,000 | |
| Returns Inward and Sales | 3,48,500 | |
| Bad Debts | 800 | |
| Postage and Telegrams | 800 | |
| Discount Received | 150 | |
| Carriage for Door Delivery to Customers | 1,400 | |
| Opening Stock | 6,200 | |
| Wages | 27,700 | |
| Plant and Machinery | 2,05,000 | |
| Land and Buildings | 1,10,000 | |
| Furniture and Fittings | 3,000 | |
| Sundry Debtors and Creditors | 39,600 | 20,000 |
| Cash at Bank | 10,000 | |
| Petty Cash Balance | 200 | |
| 5,67,150 | 5,67,150 |
Closing stock on 31.12.2018 was ₹ 48,700.
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.
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.
