30. From the following balances extracted from the books of Sharma, prepare the Trading and Profit & Loss Account for the year ended 31st March 2023 and Balance Sheet as at that date after taking into consideration the adjustments given below: TRIAL BALANCE as at 31st March, 2023 Particulars Dr. (Rs.) Cr. (Rs.) Drawing and … Read more
29. The following is the trial balance of Mr. Amar Chand as at 31st March, 2023: Dr. (Rs.) Cr. (Rs.) Stock on 1st April, 2022Purchases and SalesReturnsSundry Debtors and Creditors 62,0003,15,0003,70080,000 4,48,0002,50043,000 Dr. (Rs.) Cr. (Rs.) Bills Receivable and PayableDrawings and CapitalCash in HandBalance with Bank of TokyoDiscountCarriage on PurchasesCarriage on SalesBad-DebtsBad-Debts ProvisionFurniture on 1st … Read more
28. From the following balances extracted from the books of Karan and the additional information, prepare the trading and profit and loss account for the year ended 31st March, 2023 and also show the balance sheet as at that date: Debit Balance(Rs. ‘000) Credit Balance(Rs.‘000) Stock on 1st April, 2022Purchases and SalesReturnsCapital AccountDrawingsLand and BuildingsFurniture … Read more
27. Following balances were taken from the books of Shri R. Lal as at 31st March, 2023: Particulars Rs. Particulars Rs. CapitalDrawingPurchasesSalesPurchase ReturnsStock on 1.4.2022Bad DebtsBad Debts Provision on 1.4.2022Rates & Insurance 1,00,00017,60080,0001,40,3702,82011,4601,4003,2401,300 Rent (Cr.)Railway Freight on salesCarriage InwardsOffice ExpensesPrinting & StationeryPostageSundry DebtorsSundry CreditorsCash at Bank 2,10016,9402,3101,34066082062,07018,92012,400 Prepare Trading and Profit & Loss A/c and … Read more
26. Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial Balance and information as on 31st March, 2023: Name of Account Dr. (Rs.) Cr. (Rs.) Drawings and CapitalPlant and MachineryMotor VehicleReturn Inward and OutwardStock on 1st April, 2022Purchases and SalesCarriage Inward Trade ExpensesBad DebtsProvision for Doubtful DebtsCommissionRent, Rates & TaxesSalaries … Read more
25. Following are balances from the trial balance of Ritesh Traders as at 31st March 2023: Particulars Rs. Particulars Rs. Opening StockPurchasesSalesWagesCarriage InwardFreight on PurchaseSalariesInsuranceRepair to Machinery 5,6201,54,2003,74,8001,26,0009004,9008,0002,8001,400 Interest on SecuritiesLand and BuildingSecuritiesCash in HandBank OverdraftDiscount AllowedDiscount ReceivedBills PayableLoan (Cr.) 6,40010,00,0006,00,00025,6003,40,0001,5004204,00011,000 Prepare Trading and Profit & Loss Account for the year ended 31st March 2023 … Read more
24. From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March 2016 and Balance Sheet as at that date. Head of Accounts Debit (Rs.) Credit (Rs.) Sundry DebtorsStock (1st April 2015)Cash in hand Cash at bankPlant and MachinerySundry CreditorsTrade ExpensesSalesSalariesCarriage OutwardsRentBills PayablePurchasesDiscountsPremisesCapital (1st April … Read more
23. Following is the Trial Balance as on 31st March 2016. Prepare Trading and Profit and Loss Account and Balance Sheet: Particulars Debit(Rs.) Credit(Rs.) Stock (1st April 2015)SalesPurchasesProductive WagesSalariesStores ConsumedCarriageRent and RatesInsuranceMachineryBuildingCapital less DrawingsSundry DebtorsSundry Creditors 8,0001,26,00056,50016,0006,0503,0505,2001,32052,00067,00044,000 2,20,000 1,45,60020,000 Particulars Debit (Rs.) Credit (Rs.) Secured LoanFurnitureGeneral Expenses Cash in handBad DebtsBank 3,3502,6001,9301,0206,580 15,000 4,00,600 4,00,600 Additional … Read more
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 StockPurchasesGeneral ExpensesStationeryWagesTrade ChargesRentCharityAdvertisement Expenses 50,0005,30,00045,0006,0002,15,00025,00044,0005,00030,000 CapitalSalesSundry CreditorsTrade Charges due but not paidOutstanding RentBank Balance 20,00,00012,50,0001,36,0005,0004,00045,000 Debit Balances … Read more
21. The following Trial Balance has been extracted from the books of Shri Santosh Kumar as at 31st March, 2023: Dr. (Rs.) Cr. (Rs.) Plant and MachineryFurnitureCapital AccountHousehold ExpensesSalesLoose ToolsGoodwillOpening Stock (1-4-2022)Returns OutwardDiscountPurchasesReturns Inwards 1,00,00012,00016,00020,00010,00020,000 2,12,0008,000 1,91,0004,68,000 4,0006,000 Particulars Debit (Rs.) Credit (Rs.) WagesSalariesOutstanding SalariesInvestments at 10% p.a.Interest on InvestmentsSundry CreditorsMiscellaneous ReceiptsCarriage InwardsGeneral Expenses and InsuranceAdvertisement … Read more