20. From the following Trial Balance of Geeta, you are required to prepare: (i) Trading and Profit and Loss Account for the year ended on 31st March, 2019, and (ii) Balance Sheet as at that date. Debit Balances Rs. Credit Balances Rs. Stock on 01.04.2018Plant and Machinery RentDepreciation on Plant and MachineryWagesSalary for 11 monthsCashPurchasesDebtorsDiscountCarriage … Read more
19. From the following Trial Balance extracted from the books of Sh. Pawan Kumar, prepare a Trading Account, Profit & Loss Account for the year ended 31st March, 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. DrawingsPlant and MachineryHorses and CartsDebtorsPurchasesWagesCash at BankSalariesRepairsStock (1-4-2022)Stock (31-3-2023)Rent 1,20,00012,00,0002,60,0003,40,0002,00,00080,0002,60,00080,0005,00070,00092,00045,000 CapitalCreditorsSalesBills PayableInterest … Read more
18. Extracts of Trial Balance as at 31st March 2023: Dr. (Rs.) Cr. (Rs.) Sundry Debtors (including Dewan for dishonoured Bill of Rs. 20,000)Provision for Doubtful DebtsBad Debts 4,80,000 –10,000 –24,000– Adjustments: The following adjustments are to be made: ¾ th of Dewan’s bill is irrevocable. Create a provision of 6% on Sundry Debtors Show … Read more
17. From the following Trial Balance of Mr. Alok, 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. DrawingsBills ReceivableMachineryDebtors (including X for dishonoured Bill of Rs. 1,000)WagesReturns InwardPurchasesRentStock (01-04-2022)SalariesTravelling ExpensesInsuranceCashRepairsInterest on LoanDiscount AllowedBad-DebtsFurniture 5,2754,75014,40030,00020,4852,3901,28,2952,81044,8405,500 9452009,7501,6855002,4351,8104,480 CapitalLoan … Read more
16. (A) On 31st March, 2023 the following Trial Balance was extracted from the books of Sh. Ghanshyam Das: Dr. (Rs.) Cr. (Rs.) Capital AccountDebtors and CreditorsLoan on MortgageInterest on LoanDiscountStock on 1st April, 2022Motor VehicleCash at BankInvestment 40,000 2,25020,00050,0004,45016,000 2,00,00025,00030,0001,800 Dr. (Rs.) Cr. (Rs.) WagesLand and BuildingBad-DebtsPurchases and SalesPurchases and Sales ReturnsCarriage OutwardCarriage InwardSalariesOutstanding … Read more
15. From the following Trial Balance, extracted from the books of Raga Ltd., prepare a Trading and Profit and Loss Account for the year ended 31st March, 2023 and a Balance Sheet as at that date: Dr. Balances Rs. Cr. Balances Rs. Drawings AccountLand & BuildingPlant and MachineryCarriage InwardWagesSalarySales ReturnBank chargesCoal, gas and waterPurchasesTrade ExpensesStock … Read more
14. Following is the Trial Balance of Mr. Gautam as at 31st March, 2023: Dr. Balances Rs. Cr. Balances Rs. GoodwillLand & BuildingsPlant & MachineryLoose ToolsBills ReceivableOpening StockPurchasesWagesCarriage InwardsCoal & GasSalariesRentDiscount allowedCash at BankCash in handSundry DebtorsRepairsPrinting & Stationery 30,000 60,000 40,000 3,0002,00040,00051,00020,0001,2005,6004,000 2,7001,50025,0001,40045,0001,800600 Purchase ReturnsCapital A/cBills PayableSundry CreditorsSales 2,6502,03,50013,80030,0001,15,000 Dr. Balances Rs. Cr. Balances … Read more
13. Give journal entries for the following adjustments in final accounts assuming CGST and SGST @ 9% each Closing Stock Rs. 80,000 (Market value Rs. 1,00,000). Outstanding salaries Rs. 21,000. Insurance premium amounting to Rs. 10,000 is paid in advance. Rs. 6,000 received for rent related to the next accounting period. Commission accrued but not … Read more
12. Give Journal Entries for the following adjustments in final accounts: Extract of Trial Balance as on 31st March, 2023: Particulars Debit(Rs.) Credit(Rs.) Sundry DebtorsBad DebtsProvision for doubtful debts 6,60,00015,000 40,000 Additional Information: (a) Additional Bad Debts Rs. 20,000. (b) Maintain the provision for doubtful debts @ 5% on debtors. Goods costing Rs. 20,000 were … Read more
11. Give journal entries for the following adjustments in final accounts: (i) Salaries Rs. 5,000 are outstanding. (ii) Insurance amounting to Rs. 2,000 is paid in advance. (iii) Rs. 4,000 for rent have been received in advance. (iv) Commission earned but not received Rs. 1,000. (v) Interest on capital Rs. 1,500. (vi) Interest on Drawings … Read more