10. (A) From the following balances, prepare Trading, Profit and Loss A/c and a Balance Sheet as at
31st March 2023:
| Particulars | Rs. | Particulars | Rs. | |
|---|---|---|---|---|
| Opening Stock Purchases Fuel and Power Capital Sales Rent Returns Inwards Cash Discount allowed Cash Discount received Drawings |
20,000 2,92,000 34,000 1,60,000 5,90,000 10,000 16,000 15,000 19,000 58,100 |
Goodwill Furniture and Fittings Repair Charges Bank Salaries General Expenses Debtors Creditors Output CGST Output SGST |
16,000 58,000 2,900 18,000 1,10,000 18,000 2,30,000 1,35,000 5,000 5,000 |
|
| Particulars | Rs. | Particulars | Rs. | |
| Input CGST Input SGST |
8,000 8,000 |
|||
Take the following adjustments into account:
(a) General expenses include Rs. 5,000 chargeable to Furniture purchased on 1st October 2022.
(b) Create a provision of 5% on debtors for Bad and Doubtful Debts after treating Rs. 30,000 as a Bad-debt.
(c) Depreciation on Furniture and Fittings for the year is to be at the rate of 10% per annum.
(d) Closing Stock was Rs. 40,000, but there was a loss by fire on 20th March to the extent of Rs. 8,000. Insurance Company admitted the claim in full.e) (I) Goods costing Rs. 2,500 were used by the proprietor.
(II) Goods costing Rs. 1,500 were distributed as free samples.
Goods were purchased paying CGST and SGST @ 6% each.
D.K.Goel/2024 Edition/Practical Questions/Q-10 A
(B) From the following particulars taken out from the books of Subhash General Store, prepare
Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date:
| Particulars | Rs. | Particulars | Rs. |
|---|---|---|---|
| Plant & Machinery on 1-4-2022 Plant & Machinery Purchased on 1-7-2022 |
80,000 20,000 |
Rent Insurance Premium paid from 1-1-2023 to 31-12-2023 |
12,000 1,200 |
| Particulars | Debit (Rs.) | Particulars | Credit (Rs.) |
| Sundry Debtors Creditors Furniture Motor Car Purchases Sales Sales Returns Salaries Opening Stock Motor Car Expenses Stationery |
1,20,000 32,000 5,000 70,000 1,60,000 2,80,000 15,000 36,000 60,000 6,000 500 |
Cash at Bank Wages Advertising Carriage Inwards Carriage Outwards Fuel and Power Manoj's Capital Manoj's Drawings Brokerage Donation |
5,400 20,400 4,800 10,200 2,000 15,700 3,50,000 12,000 700 5,100 |
The following information is relevant:
- Closing Stock Rs. 55,000. Stock valued at Rs. 10,000 was destroyed by fire on 18th March, 2023 but the Insurance Company admitted a claim of Rs. 6,800 only which was received in April, 2023.
- Stationery for Rs. 150 was consumed by the Proprietor.
- Goods costing Rs. 1,200 were given away as charity.
- A new Signboard costing Rs. 1,500 is included in Advertising.
- Rent is to be allocated 23 rd to Factory and 13 rd to Office.
- Depreciate machinery by 10% p.a. and Motor Car by 20% p.a.
D.K.Goel/2024 Edition/Practical Questions/Q-10 B
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :