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. | |
|---|---|---|---|---|
| Drawings Plant and Machinery Horses and Carts Debtors Purchases Wages Cash at Bank Salaries Repairs Stock (1-4-2022) Stock (31-3-2023) Rent |
1,20,000 12,00,000 2,60,000 3,40,000 2,00,000 80,000 2,60,000 80,000 5,000 70,000 92,000 45,000 |
Capital Creditors Sales Bills Payable Interest on Ram's Loan Rent Received |
16,00,000 2,60,000 8,20,000 2,21,200 1,800 12,000 |
|
| Debit Balances | Rs. | Credit Balances | Rs. | |
| Manufacturing expenses Bad-Debts Carriage Income Tax Life Insurance Premium Loan to Ram at 12% p.a. Insurance Insurance Prepaid |
15,000 50,000 15,000 20,000 30,000 20,000 12,000 1,000 |
|||
| 29,15,000 | 29,15,000 | |||
Adjustments:
- Plant and Machinery includes a new machinery purchased on 1st October, 2022 for Rs. 2,00,000.
- Depreciate Plant and Machinery by 10% p.a. and Horses and Carts by 20% p.a.
- Salaries for the month of February and March 2023 are outstanding.
- Goods worth Rs. 15,000 were sold and despatched on 27th March but no entry was passed to this effect.
- Make a provision for Doubtful Debts at 5% on Debtors.
D.K.Goel/2024 Edition/Practical Questions/Q-19
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :