14. Following is the Trial Balance of Mr. Gautam as at 31st March, 2023:
| Dr. Balances | Rs. | Cr. Balances | Rs. | |
|---|---|---|---|---|
| Goodwill Land & Buildings Plant & Machinery Loose Tools Bills Receivable Opening Stock Purchases Wages Carriage Inwards Coal & Gas Salaries Rent Discount allowed Cash at Bank Cash in hand Sundry Debtors Repairs Printing & Stationery |
30,000 60,000 40,000 3,000 2,000 40,000 51,000 20,000 1,200 5,600 4,000 2,700 1,500 25,000 1,400 45,000 1,800 600 |
Purchase Returns Capital A/c Bills Payable Sundry Creditors Sales |
2,650 2,03,500 13,800 30,000 1,15,000 |
|
| Dr. Balances | Rs. | Cr. Balances | Rs. | |
| Bad-debts Advertisements Furniture and Fixtures General Expenses Investments Drawings Carriage Outwards Sales Returns |
1,200 3,500 1,200 250 5,000 15,000 1,500 2,000 |
|||
| 3,64,450 | 3,64,450 | |||
You are required to prepare Final Accounts after taking into account the following adjustments:
(a) Closing Stock on 31st March, 2023 was Rs. 60,000.
(b) Depreciate Plant and Machinery at 5%, Loose Tools at 15% and Furniture and fixtures at 5%.
(c) Provide 2 ½% for discount on Sundry Debtors and also provide 5% for Bad and Doubtful Debts on Sundry Debtors.
(d) Only three quarter’s rent has been paid, the last quarter’s rent being outstanding.
(e) Interest earned but not received Rs. 600.
(f) Write off ¼ th of Advertisement expenses.
D.K.Goel/2024 Edition/Practical Questions/Q-14
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :