Question

70
Q. 2. From the following particulars, prepare the Trading and Profit & Loss
A/c for the year ended 31st Dec., 2014 and the Balance Sheet as on that date:
Particulars
Particulars
3,00,000
Building
5,00,000 Loans (1-1-2014)
5,20,000
Machinery
2,20,000 Capital
4,00,000
Furniture
1,00,000 Creditors
1,00,000
Bank
90,000 Purchase Return
32,20,000
Cash
10,000 Sales
Debtors
5,00,000 Provident Fund Deducted
Opening Stock
1,20,000 from Salaries
10.000
Purchases
25,00,000
Sales Return
1,20,000
Rent
60,000
Establishment
1,60,000
Interest (10%)
20,000
Electricity
10,000
Phone
10,000
Commission
60,000
Insurance Premium
10,000
Bad Debts
20,000
Bills Receivable
40,000
45,50,000
Adjustments:
45,50,000
Provide depreciation on Building @ 5%, Machinery @ 15% and Furniture
@ 10%. Stock was not taken on 31st December, 2014 but only on 7-1-2015. The
transactions from 1-1-2015 to 7-1-2015 are: Sales 2,50,000, Purchase 1,50,000.
Stock on 7-1-2015 1,80,000 and rate of Gross Profit being 20%. During the
year
machinery of the value of 1,00,000 was destroyed by fire and the insurance
claim was settled at 780,000 and credited to Machinery Account. Also provide
Employer's share of P.F. 310,000, Provision for Bad debts 5%, Commission of the
Manager @ 10% on net profit after providing such commission.
Sol.
Trading and Profit & 1 000
10
Dr​

Answer 1

Answer:

it's to complicated.

please dont ask big question.