3. Prepare Trading Account from the transactions given below: ₹ ₹ Opening Stock 33,000 Purchases Return 2,400 Purchases 29,000 Closing Stock 57,700 Sales Return 500 Carriage Inwards 100 Sales 25,400 Depreciation 2,000 Also pass the Journal entries. T.S.Grewal/2024 Edition/Practical Problems/Q-03 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial … Read more
2. From the following information, determine Gross Profit for the year ended 31st March, 2024: ₹ ₹ Opening Stock (1st April, 2023) 50,000 Goods purchased during the year 2,80,000 Freight and Packing 20,000 Closing Stock (31st March, 2024) 60,000 Sales 3,80,000 Packing Expenses on Sales 12,000 T.S.Grewal/2024 Edition/Practical Problems/Q-02 For full question, please refer … Read more
1. State whether the following expenses are capital or revenue in nature: (i) Expenses on whitewashing and painting of a building purchased to make it ready for use. (ii) 10,000 spent on constructing platform fora new machine. (iii) Repair expenses of 25,000 incurred for whitewashing of factory building. (iv) Insurance premium paid as renewal premium. … Read more
17. Arrange assets in the order of permanence: Sundry Debtors, Stock, Investment, Land and Building, Cash in Hand, Motor Vehicle, Cash at Bank, Goodwill, Plant and Machinery, Furniture, Loose Tools, Marketable Securities. D.K.Goel/2024 Edition/Practical Questions/Q-17 For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company Answer … Read more
16. From the following balances of the Ledger of Sh. Akhileshwar Singh, prepare Trading and Profit & Loss Account and Balance Sheet: Particulars Debit (Rs.) Credit (Rs.) Stock on 1-4-2022 Stock on 31-3-2023 Purchases and Sales 30,00046,2002,30,000 3,45,800 Particulars Debit (Rs.) Credit (Rs.) Returns Commission on Purchases Freight and Carriage Wages and Salary Fire Insurance … Read more
15. From the following balances extracted from the books of Sh. Badri Vishal on 31st March, 2023, prepare a Trading Account, P & L A/c and a Balance Sheet. Closing Stock valued on that date was Rs. 15,000. Particulars Debit (Rs.) Credit (Rs.) Capital Household Expenses Sales Return inwards Return outwards Purchases Cash at Shop … Read more
14. Following is the Trial Balance of Sh. Damodar Parshad as at 31st March, 2020: Debit Balances Amount (Rs.) Credit Balances Amount (Rs.) Stock 1-4-2019Purchases Wages Returns Inwards Carriage on Purchases Carriage on Sales Office Salaries Rent and Taxes Cash Bank Balance Bad-debts Discount allowed 10,000 58,0004,7003,520 2,3607104,8002,4001,1007,820600640 Discount Received Return Outwards Sales B/P Sundry … Read more
13. Calculate the operating profit from the following: Rs. Net Profit 5,00,000 Dividend Received 6,000 Loss on sale of Furniture 12,000 Loss by Fire 50,000 Salaries 1,20,000 Interest on Loan from Bank 10,000 Rent Received 24,000 Donation 5,100 D.K.Goel/2024 … Read more
12. Calculate the amount of gross profit, operating profit and net profit on the basis of the following balances extracted from the books of M/s Rajiv & Sons for the year ended March 31, 2023. Rs. Opening Stock 50,000 Net Sales 11,00,000 Net Purchases 6,00,000 Direct Expenses 60,000 Administration Expenses … Read more
11. Prepare Profit and Loss Account for the year ended 31st March, 2023 from the following particulars: Particulars Amount (Rs.) Particulars Amount (Rs.) General expensesCharity Office LightingLaw Charges AdvertisementBank chargesCommissionRent, Rates and Taxes 12,000 3,0005,0005,80014,2001,2007,00030,000 Gross profitCarriage Outwards Office Expenses Fire Insurance PremiumTelephone ExpensesEstablishment expensesMiscellaneous ExpensesDiscount Received 7,69,000 20,00016,00018,00013,5002,5007,1006,200 Interest on investmentsSundry IncomeIndirect expensesPrinting and … Read more