Question

3. Following is the Trial Balance as on 31st March, 2019 of Bajrang Traders:
Credit ()
46,25,000
22.500
Debit ()
1.35,000
28,50,000
35,000
24,000
33,000
1,25,000
3,52,000
6,500
15,000
11,000
30,500
15,500
28,000
Particulars
Stock on 01.04.2018
Purchases and Sales
Returns
Carriage Inwards
Carriage Outwards
Wages
Salaries
Printing and Stationery
Insurance Premium
Repairs
Discounts Allowed
Discounts Recelved
Bad Debts
Provision for Bad Debts
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Interest on Investment
Drawings
Investment
Furniture and Fixtures
Office Equipments
Land and Building
Sundry Debtors and Creditors
Establishment Expenses
Capital
Cash at Bank
Cash in Hand
Total
35,000
38,000
42,000
2.10,000
8,00,000
3,50,000
2,45,000
15,00,000
6,90,000
35,000
4,55,000
31,05,000
7,24,000
63,000
83,00,000
83,00,000
Additional Information:
(1) Closing Stock of goods amounted to 1,85,000 and of stationery amounted to
31,500
(11) Depreciation to be charged on Land and Building @ 10%; On Office Equipments
@ 15%; and On Furniture and Fixtures @ 10%.
(i) Insurance Premium paid on 1st July, 2018 for one year.
(iv) Write off further as bad debts 5,000 and maintain a provision for bad debts of 5% on
DoS, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament)
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Suggested Answers_Sy|2016 June 2019_Paper 5
debtors.
(v) Provision made for discount on debtors @ 2%.
(vi) Goods costing 12,500 used for given free samples to customers.
(vil) Goods costing *25,000 were sent on approval basis to a customer for 40,000 on
26th March, 2019. This was recorded as actual sales but approval did not receive till
31st March, 2019.
(viii) Outstanding salaries were for one month,
(ix) Investment made at 7.50% per annum on 1st May, 2018.
You are required to prepare Trading Account and Profit & Loss Account for the year
ended 31 st March, 2019 and a Balance Sheet as on that date.
15
Answer​

Answer 1

Answer:

gp 1710100 net 40,00,00 balance sheet 5,00000