D K Goel Chapter 19

10. (A) From the following balances, prepare Trading, Profit and Loss A/c and a Balance Sheet as at  31st March 2023: Particulars Rs. Particulars Rs. Opening StockPurchasesFuel and PowerCapitalSalesRentReturns InwardsCash Discount allowedCash Discount receivedDrawings 20,0002,92,00034,0001,60,0005,90,00010,00016,00015,00019,00058,100 GoodwillFurniture and FittingsRepair ChargesBankSalariesGeneral ExpensesDebtorsCreditorsOutput CGSTOutput SGST 16,00058,0002,90018,0001,10,00018,0002,30,0001,35,0005,0005,000 Particulars Rs. Particulars Rs. Input CGSTInput SGST 8,0008,000 Take the following adjustments … Read more

9. From the following balances, prepare Trading and Profit and Loss A/c for the year ended 31st March 2023 and a Balance Sheet as at that date: Particulars Rs. Particulars Rs. Life Insurance Premium (self)Opening StockReturns InwardFurnitureFreehold PropertyCarriage InwardsAdvertisingSundry CreditorsReturns outwardsCommission (Cr.)LightingLoan from bankWages & Salaries 5007,5001,0004,60010,0004002004,8505006002505,0007,500 CapitalPlant and MachineryPurchasesSundry DebtorsCoal, Gas and WaterCarriage outwardsSalesDiscount … Read more

8. Prepare a Trading and Profit & Loss account for the year ending March 31st, 2023, from the balances extracted of M/s Rahul Sons. Also prepare a balance sheet as at that date. Debit Balances Rs. Credit Balances Rs. Opening StockWagesSalaryPurchasesSales ReturnS. DebtorsDiscount allowedInsuranceRent, rates and taxesFixtures and fittingsTrade ExpensesBad debts 50,000 3,0008,0001,75,0003,00082,0001,0003,2004,300 20,0001,5002,000 SalesPurchase … Read more

7. Extract of a Trial Balance as at March 31, 2017 is as follows: Rs. Sundry Debtors   1,02,000 Bad Debts       1,400 Provision for doubtful debts       3,400 Additional information: A debtor of Rs. 2,000 could not be recovered. It is decided to maintain Provision for Doubtful Debtors @ 5% … Read more

6. From the following figures prepare the Trading and Profit and Loss Account for the year ended 31st March, 2023 and the Balance Sheet as at that date: Particulars Rs. Particulars Rs. Stock (1st April, 2022)PurchasesSalesMotor CarCar ExpensesRentSalariesBad DebtsProvision for bad debts 75,000 8,00,00012,00,0001,50,00042,0005,50035,2001,5008,100 Sundry DebtorsLoan from XInterest on X LoanFurnitureLand and BuildingCapitalSundry CreditorsReturns InwardReturns … Read more

5. From the following Trial Balance extracted from the books of A, prepare Trading and Profit & Loss Account for the year ending 31st March, 2023 and a Balance Sheet as at that date: Dr. (Rs.) Cr. (Rs.) FurnitureLoose ToolsBuildings 6,40062,50075,000 Particulars Debit (Rs.) Credit (Rs.) Capital AccountBad-debtsProvision for Bad-debtsSundry Debtors and CreditorsStock on 1st … Read more

4. Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date from the following Trial Balance: Dr. (Rs.) Cr. (Rs.) Capital Cash Bank Overdraft Purchases and Sales Returns Establishment Expenses Taxes and Insurance Bad-debts and Bad-debt Provision Debtors and CreditorsCommissionDeposits Opening StockDrawings Furniture 15,0001,20,00010,00022,0005,0005,00050,00040,00030,00014,0006,000 … Read more

3. On 31st March, 2023 the following Trial Balance was extracted from the books of Mohan: Dr. (Rs.) Cr. (Rs.) CapitalDrawingsDebtors and CreditorsBank LoanInterest on LoanCashProvision for Bad DebtsStock 1– Apr – 2022Motor VehiclesBank 5,00020,0003002,0006,80010,0003,500 30,00010,0009,500 700 Particulars Debit (Rs.) Credit (Rs.) Land and Buildings Bad-DebtsPurchases and Sales ReturnsCarriage OutwardCarriage InwardSalariesRent and InsuranceAdvertisingDiscountGeneral ExpensesB/R and … Read more

2. From the following Trial Balance prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date: Dr. (Rs.) Cr. (Rs.) Stock 1st April, 2022Purchases and Purchase ReturnFreehold PremisesIncidental Trade Exp. 22,3002,30,0001,00,00011,200 5,200 Dr. (Rs.) Cr. (Rs.) Insurance Audit FeesCommission ReceivedInterestDebtors and CreditorsWagesSalariesCapitalDrawingsIncome-TaxInvestmentsDiscount allowed & … Read more

1. The following are the balances extracted from the books of Raghunath Ji as on 31st March, 2023. From these balances, prepare his Trading and Profit & Loss Account and Balance Sheet as at that date:   Dr. (Rs.) Cr. (Rs.) Opening StockPurchases Sales DiscountSales Return BuildingsDebtorsSalariesOffice ExpensesWagesPurchase ReturnInterestTravelling ExpensesFire Insurance PremiumMachineryCarriage on PurchasesCommission 12,00040,000 … Read more