22. From the following Trial Balance of Sh. Swamy Narain, prepare Trading and Profit & Loss Account for the year ended 31st March 2023 and a Balance Sheet as at that date:
| Debit Balances | Rs. | Credit Balances | Rs. |
|---|---|---|---|
| Opening Stock Purchases General Expenses Stationery Wages Trade Charges Rent Charity Advertisement Expenses |
50,000 5,30,000 45,000 6,000 2,15,000 25,000 44,000 5,000 30,000 |
Capital Sales Sundry Creditors Trade Charges due but not paid Outstanding Rent Bank Balance |
20,00,000 12,50,000 1,36,000 5,000 4,000 45,000 |
| Debit Balances | Rs. | Credit Balances | Rs. |
| Carriage on Sales Bills Receivables Sundry Debtors Cash Discount Cash in Hand Furniture Advance for Furniture Plant & Machinery Building |
12,000 30,000 2,20,000 16,000 22,000 1,00,000 40,000 6,00,000 14,50,000 |
||
| 34,40,000 | 34,40,000 |
Adjustments:
- Stock on 31st March, 2023 was valued at Rs. 60,000.
- A new machine was installed during the year costing Rs. 2,00,000 but it was not recorded in the books. Wages paid for its installation Rs. 10,000 have been debited to Wages Account.
- An advance of Rs. 10,000 given alongwith purchase order was wrongly recorded in purchases.
- General expenses include Rs. 20,000 paid for Wages.
- Wages include a sum of Rs. 50,000 spent on the erection of a Scooter Stand for employees.
- Advance for Furniture is for furniture at proprietor’s residence.
- Depreciate Furniture at 15%, Plant & Machinery at 20% and Building at 10%.
- Carry forward 2/3 of Advertisement Expenses as unexpired.
- A B/R of Rs. 20,000 was discounted with bank on 15 Nov. 2022, but not yet matured.
D.K.Goel/2024 Edition/Practical Questions/Q-22
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :