9. From the following information of Menal, prepare his Final Accounts for the year ended 31st March, 2024: Debit Balances ₹ Credit Balances ₹ Purchases 2,50,000 Sales 5,00,000 Returns Inward 12,000 Returns Outward 10,000 Carriage 8,000 Creditors 1,02,000 Wages 60,000 Commission (Cr) 1,000 Miscellaneous Expenses 2,000 12% Bank Loan 30,000 Insurance 1,200 Capital 2,40,000 Repairs … Read more
8. Following balances are taken from the books of Ramesh. Prepare Trading and Profit & Loss Account for the year ended 3lst March, 2024 and Balance Sheet as on that date: Particulars ₹ Particulars ₹ Capital 12,00,000 Drawings 2,10,000 Opening Stock 4,50,000 Plant and Machinery 2,40,000 Furniture 15,000 Purchases 29,50,000 Sales 43,50,000 Insurance 25,000 Purchases … Read more
7. Following are the balances extracted from the books of Narain on 31st March, 2024: Particulars ₹ Particulars ₹ Narain’s Capital 3,00,000 Sales 15,00,000 Narain’s Drawings 50,000 Sales Return 20,000 Furniture and Fittings 26,000 Discount (Dr.) 16,000 Bank Overdraft 42,000 Discount (Cr.) 20,000 Creditors 1,38,000 Insurance 20,000 Building 2,00,000 General Expenses 40,000 Stock on 1st … Read more
6. Prepare Trading and Profit & Loss Account for the year ended 31st March, 2024 and Balance Sheet as at that date from the following balances taken from the books of Vijay on 31st March, 2024 after giving effect to the following adjustments: (i) Stock Bs on 31st March, 2024 was valued at ₹2,30,000. (ii) … Read more
5. From the following Trial Balance of Sunil as on 31st March, 2024, prepare Trading and Profit & Loss Account for the year ended 31st March, 2024 and Balance Sheet as at that date: Heads of Accounts L.F. Debit Balances ₹ Credit Balances ₹ Capital 8,00,000 Drawings 1,80,000 Sales 15,50,000 Purchases 8,26,000 Stock (1st April, … Read more
4. Trial Balance of a business as at 31st March, 2024 is given below: Particulars Dr. (₹) Particulars Cr. (₹) Stock on 1st April, 2023 2,50,000 Sales 22,78,000 Furniture 80,000 Commission 5,000 Plant and Machinery 15,00,000 Returns Outward 10,000 Debtors 3,00,000 Creditors 4,00,000 Wages 1,20,000 Capital 15,00,000 Salaries 2,00,000 Bad Debts 10,000 Purchases 12,00,000 Electricity … Read more
3. Following Trial Balance has been extracted from the books of Pawan as on 31st March. 2024. Particulars Dr. (₹) Particulars Cr. (₹) Machinery 4,00,000 Capital 9,00,000 Cash at Bank 1,00,000 Sales 16,00,000 Cash in Hand 50,000 Sundry Creditors 4,50,000 Wages 1,00,000 Interest Received 30,000 Purchases 8,00,000 Stock on 1st April, 2023 6,00,000 Sundry Debtors … Read more
2. Prepare Trading and Profit & Loss Account and Balance Sheet from the following balances relating to the year ended 31st March, 2024: ₹ ₹ Capital 1,00,000 Bank 10,000 Creditors 17,000 Repairs 500 Returns Outward 5,000 Stock on 1st April, 2023 20,000 Sales 1,64,000 Rent 4,000 Plant and Machinery 40,000 Manufacturing Expenses 8,000 Sundry Debtors … Read more
1. Following are the balances extracted from the books of Gurman on 31st March, 2024: ₹ ₹ Capital 19,00,000 Cash at Bank 2,60,000 Drawings 70,000 Salaries 80,000 Plant and Machinery 12,00,000 Repairs 19,000 Delivery Vehicle 2,60,000 Stock on 1st April, 2023 1,60,000 Sundry Debtors 3,60,000 Rent 45,000 Sundry Creditors 4,95,000 Manufacturing Expenses 15,000 Purchases 2,00,000 … Read more