16.24
Q.No.6. Prepare Trading and Profit & Loss Account from the followir
75,000
2,400
Loss Account from the following balances as on 31st March, 1998
3,000 Salaries
4,500
32,000 Sales
1,200 Carriage on sales
1,100
12,000 Manufacturing expenses
1,400 Audit fees
1,160
1,600 Postage
350
700 Dividends
1,800
240 Coal and power
1,800 Furniture
5.000
400 Import duty
1,200
1,500 Discount
1,600 Sundry receipts
450 Advertisement
270
(Ans. G.P. Rs. 32,870; N.P. Rs. 20,5601
Wages
Purchases
Carriage on purchases
Opening Stock
Godown rent
Interest
Interest received
General expenses
Factory rent
Stationery
Export duty
Legal expenses
Cash in hand
Closing Stock Rs.12,450
980
750
560
Trac
Answers
Answer:
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Answer:
Accounting Equation
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Textbook Solutions Class 11 Accountancy Accounting Equation
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Page No 22.100:
Question 22:
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, 2014 and a Balance Sheet as at that date :
Dr. Balances (₹) Cr. Balances (₹)
Drawings 1,20,000 Capital 16,00,000
Plant and Machinery 12,00,000 Creditors 2,60,000
Horses and Carts 2,60,000 Sales 8,20,000
Debtors 3,40,000 Bills Payable 2,21,200
Purchases 2,00,000 Interest on Ram's Loan 1,800
Wages 80,000 Rent Received 12,000
Cash at Bank 2,60,000
Salaries 80,000
Repairs 5,000
Stock (1-4-2013) 7,000
Stock (31-3-2014) 92,000
Rent 45,000
Manufacturing expenses 15,000
Bad-Debts 50,000
Carriage 15,000
Income Tax 20,000
Life Insurance Premium 30,000
Loan to Ram at 12% p.a. 20,000
Insurance 12,000
Insurance Prepaid 1,000
29,15,000 29,15,000
Adjustments:-
1. Plant and Machinery includes a new machinery purchased on 1st October, 2013 for ₹ 2,00,000.
2. Depreciate Plant and Machinery by 10% p.a. and Horses and Carts by 20% p.a.
3. Salaries for the month of February and March 2014 are outstanding.
4. Goods worth ₹ 15,000 were sold and dispatched on 27th March but no entry was passed to this effect.
5. Make a provision for Doubtful Debts at 5% on Debtors.