Question

by total of Balance Sheet: 9,75.000
4. The following is the Trial Balance of Cloth Company A, B Ltd, as at 31st March 2014 Prepareita
Statement of Profit & Loss and Balance Sheet in prescribed form
Carriage Inward
2.300
Wages
21.400
Sales
80.000
Sales Returns
1.700
Coal. Gas and Water
700
Purchases
50.000
Purchases Returns
Inventories 1st April 2013
25,000
Salaries
4.600
Bad Debts Reserve 1st April, 2013
1.100
Bank Charges
100
Rates and Taxes
General Expenses
1.900
Fire Insurance
Authorized Capital
50.000 shares of 10 per share: 5,00.000
Subeeribed Capital
10.000 shares of 10 per share
100.000
Calls in Artears
6.100
To nuo
Buildings
25.000
Plant and Machinery
15,000
Furnitures and Fixtures
3.200
Bills Receivable
1,200
Sundry Debtors
42,800
Trade Payables
13,200
Cash at Bank
13,000
Cash in hand
2.500
6.000
Share Premium
General Reserve
25,000
2,28.000 228.000
Charge depreciation on Bulding @ 21. on Plant and Machinery @ 10% and on Furnitures and
Fixtures @ 104. Make a reserve of 5% on Sundry Debtors for Bad Debts. Carry forward the following
unexpired amount : Fire Insurance 120
Provide the following outstanding liabilities Wages ? 3.200. Salaries 500: Rent, Kates and Taxes?
200. The value of Inventories as on 31st March, 2014, was 30.000
Ans. Net Loss for the year 2.466. Balance Sheet? 1,38,235​

Answer 1

Answer:

Answer

Cost of each fan =2400

Loss on F

1

=10%

Profit on F

2

=15%

For F

1

:

SP=CP−10% of CP

SP=2400−

100

10

×2400=2160

For F

2

:

SP=CP+15% of CP

SP=2400+

100

15

×2400=2760

Total SP=2160+2760=4920

Total CP=2×2400=4800

Profit or Loss=SP−CP=120 (Positive)

Hence, Hari makes a profit of Rs.120