Question

0-12: The following is the Trial Balance of Divya on 31st December 2012.
Debit Balances
Amount | Credit Balances
Amount
87.100
1.500
87.000
7,600
1.800
10.000
Drawings
Patents
Purchases
Returns Inward
Wages
Fuel and Power
Carriage on Sales
Carriage on Purchases
Stock (01.01.2012)
Freehold Land
Machinery
Salaries
Goodwill
General Expenses
Insurance
Sundry Debtors
Interest
7.400 Sales Account
5,000 Returns Outward
42.000 Capital
1.300 Sundry Creditors
14,000 Commission
4.400 12% Loan (on 1.7.2012)
5.200
2,800
6.500
30.000
20.000
18,000
14.000
6.700
1,700
15.000
1.000
1,95,000
1,95,000
Taking into account the following adjustments prepare Trading and Profit & Loss
Account and the Balance Sheet
(a) Stock in hand on 31st December 2012 is Rs 13,500
(b) Machinery is to be depreciated @ 10% and patents @ 20%
(c) Salaries are paid for 9 months while wages are paid as 2 month in advance
(d) Insurance include a premium of Rs. 200 for 2013
(e) Allow interest on capital @ 10%
() Advances Commission amounted to Rs. 300.
Sul
[Gross Profil Rs.33. 100. Net Loss Rs 15,100 Balance Sheet Rs 96 700 or As 97.100​

Answer 1

Answer:

Trial Balance as on 31st March, 2009

Account Title Amt. (Dr) Amt. (Cr)

Capital 1,00,000

Drawings 16,000

Machinery 20,000

Sales 2,00,000

Purchase 2,10,000

Sales return 20,000

Purchase return 30,000

Wages 40,000

Goodwill 60,000

Interest received 15,000

Discount allowed 6,000

Bank overdraft 22,000

Bank loan 90,000

Debtors

Nathu 55,000

Roopa 20,000

Creditors

Reena 35,000

Ganesh 25,000

Cash 54,000

Stock on April 1,2004 16,000

Total 5,17,000 5,17,000