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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
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 |
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
Opening stock is the first item on the ______ side of ______.
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.
The following is the trial balance of Mr. A. Chatterjee for the year ended 31st December, 2018. Compile the final accounts for him, after incorporating the adjustments and thereafter supply him with the required information, listed by him.
| Debit (₹) | Credit (₹) | |
| Opening Stock | 5,000 | |
| Capital | 30,000 | |
| Drawings | 2,000 | |
| Loan from Mr. Patel | 8,000 | |
| Purchases and Sales | 13,000 | 50,000 |
| Rejections Returned | 2,000 | 500 |
| Wages | 5,000 | |
| Salaries | 8,000 | |
| Carriage Outward | 2,000 | |
| Rent and Rates | 3,000 | |
| Telephone and Trunk Calls | 800 | |
| Petty Expenses | 400 | |
| Plant and Machinery | 35,000 | |
| Office Fixtures and Equipment | 10,000 | |
| Cash in Hand | 2,000 | |
| Bank Overdraft | 1,000 | |
| Customers and Suppliers | 8,000 | 6,700 |
| 96,200 | 96,200 |
Closing stock value is ₹ 15,000.
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. 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.
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.
The following is the Trial Balance of ABC Industries as on 31st December 2015.
| TRIAL BALANCE of ABC Industries as on 31.12.2015 | |||
| Particulars | Amount (Dr.) | Particulars | Amount (Cr.) |
| Salaries | 4,000.00 | Sales | 83,000.00 |
| Cash Balance | 2,000.00 | Rent Received | 2,000.00 |
| Bank Balance | 3,000.00 | Purchases Returns | 1,000.00 |
| Wages | 1,500.00 | Creditors | 7,000.00 |
| Insurance | 500.00 | Capital Account | 25,000.00 |
| Trade Expenses | 7,000.00 | ||
| Discount Allowed | 750.00 | ||
| Opening Stock (1.1.2015) | 5,000.00 | ||
| Buildings | 40,000.00 | ||
| Furniture | 15,000.00 | ||
| Sales Returns | 250.00 | ||
| Drawings | 1,000.00 | ||
| Debtors | 5,000.00 | ||
| Purchases | 30,000.00 | ||
| Legal Charges | 1,000.00 | ||
| Advertisement Expenses | 2,000.00 | ||
| 1,18,000.00 | 1,18,000.00 | ||
The closing stock was valued at ₹ 9,000.
You are required to prepare a Trading Account and a Profit and Loss Account for the year ending 31st December 2015 and a Balance Sheet as on 31st December, 2015.
