Chapter 19

40. The following balances were extracted from the books of Mr. Din Dayal as at 31st March, 2023 Particulars Rs. Particulars Rs. Stock at the beginningRent 41,0009,600 PurchasesSale 2,20,0002,80,000 Particulars Rs. Particulars Rs. SalaryBad-DebtsProvision for Doubtful DebtsTravelling ExpensesInsurance PremiumProprietor’s WithdrawalsTelephone Charges Printing and AdvertisingCommission (Cr.)Rent from SubletLand and BuildingFurnitureCash 20,0004003,0001,4001,8004,0007,3005,0006,0004,8001,40,00010,0002,900 Returns (Dr.)Returns (Cr.)Carriage InwardCarriage OutwardCapitalLoan … Read more

39. From the following Trial Balance of Mr. Tarun Ghosh, prepare Trading and Profit and Loss A/c for the year ending 31st March, 2020 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Opening StockPurchasesWages Factory OfficeSalaryBusiness PremisesFurniture and FixturesPacking MachineryToolsRentLoan to Mr. Ram Narain on 1st November, 2019 @ … Read more

38. The following Trial Balance was extracted from the books of Mr. Gupta as at 31st March, 2023: Debit Balances Rs. Credit Balances Rs. Stock on 1-4-2022PurchasesWagesTrade ExpensesFreight and Dock Charges 65,0007,10,00022,0005,0008,000 CapitalRent ReceivedLoan from Mr. Yadav @ 15% p.a.SalesDiscount 2,50,0003,90020,0009,50,000600 Debit Balances Rs. Credit Balances Rs. Travelling Expense Lighting and Heating (Factory)Stores ConsumedRent PaidEstablishment … Read more

37. From the following Trial Balance of Sh. Parveen Kumar, prepare Trading and Profit & Loss Account for the year ending 31st March, 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Stock at CommencementPurchasesReturns InwardSundry DebtorsCashManufacturing ExpensesTrade ExpensesCarriageSalaries and WagesPostageStationeryFreight InwardsLand and BuildingPatentsFurnitureInsurance Premium 40,0003,20,0007,00080,0009,40044,0007,2003,50015,8001,5008004,3002,00,0008,00010,0006,000 SalesLoan from Mr. … Read more

36. From the following information prepare financial Statements of M/s Raj & Bros, for the year ending  March 31, 2020. Dr. Bal.(Rs.) Cr. Bal.(Rs.) Stock (1-4-2019)Sales ReturnsPurchasesFreight-inRent and TaxesSalariesTrade debtorsBank interestPrinting and Advertising 16,8008,0002,43,0008,6005,7009,30024,0001,00014,600 CapitalSalesReturns OutwardTrade Creditors10% Bank Loan (1-7-2019)Income from InvestmentDiscount Received 78,0003,09,0005,7004,80024,0003,6002,250 Cash at bankDiscount AllowedInvestmentFurnitureGeneral ExpensesAudit FeesInsuranceTravelling ExpensesPlant & MachineryDrawings 18,3001,34025,0003,8003,6105008003,00030,00010,000 4,27,350 … Read more

35. From the following Trial Balance extracted from the books of Mr. Karuna Sagar, prepare a Trading and Profit & Loss A/c for the year ended 31st March, 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. PurchasesRent PaidWagesSalariesPowerStock on 1-4-2022Stock on 31-3-2023CharityDebtorsFurnitureMotor CarMotor Car ExpensesInsuranceUnexpired InsuranceDrawingsCash Balance 3,30,0007,48033,00030,8005,40015,00036,00050053,0008,0002,00,00018,0003,6006005,00034,680 … Read more

34. Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2023, from the following balances: Particulars Rs. Particulars Rs. Capital A/cDrawings A/cBills ReceivablePlant & MachinerySundry DebtorsLoan A/c (Cr.) at 12% p.a. 5,00,00036,0005,8003,80,00058,00020,000 Stock on 1.4.2022Salaries & WagesOutstanding Salaries and WagesInsurance (including premium of Rs. 1,000 per annum paid upto 30.9.2023) … Read more

33. On 31st March, 2023 the following Trial Balance of Sh. Ajay Oswal was taken out. Prepare Trading and Profit & Loss Account for the year and Balance Sheet at that date after making the following adjustments: 1. Stock on 31st March, 2023 was valued Rs. 26,000. General Manager is entitled to a Commission of … Read more

32. Below is given the Trial Balance of Mr. Ram as at 31st December, 2022. You are required to prepare Trading and Profit & Loss Account and Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Opening StockPurchasesPlantSalary 42,0002,00,00060,00033,000 SalesSundry CreditorsPurchases ReturnCommission 4,10,00020,0008,0007,500 WagesDiscountRentFurniture (Including Furniture of Rs. 5,000 purchased on 1st … Read more

31. Prepare a trading and profit & loss account of M/s Green Club Ltd. for the year and a Balance Sheet as at that date from the following figures taken from their trial balance: 3,71,900 3,71,900 Opening StockPurchasesReturn inwardPostageSalaryWagesRent and ratesPacking and transportGeneral expensesInsuranceDebtorsCash in handClosing StockMachineryLightingDiscount 1,25,00035,00025,00060012,3003,0001,0005004004,00050,00020,00040,00020,0005,0003,500 SalesPurchase ReturnCreditorsCapitalDiscount receivedProvision for bad debtsCommission received … Read more