Charity
Stoch on 31st March 1994 was valued at Rs. 47.000. Prepare the final con
Ans: Gross Profit - Rs 32,440; Net Profit-Rs.
Balance Sheet Total - Rs.
14. From the following Trial Balance of Ravi, prepare Trading and Profit and Larsen
for the year ended December 31st 1993 and a Balance Sheet as on that date.
Trial Balance
the year ended on 31st March 1994.
Particulars
Debit
Rs.
Credi
Rs.
40.000
25,000
Capital
Sales
Purchases
Salaries
Rent
Insurance
Drawings
Machinery
Bank Balance
Cash
Stock 1-1-93
Debtors
Creditors
15,000
2,000
1,500
300
5,000
28.000
4,500
2,000
5,200
2,500
1,000
66,000
66,000
Adjustments required:
(a) Stock on 31-12-93
Rs. 4,900
(b) Salaries unpaid
Rs. 300
(c) Rent paid in advance
Rs. 200
(d) Insurance prepaid
Rs. 90
[Madras, B.C.S. (ICE) MAy 2002
[Ans : G.P. : Rs. 9,700; N.P. : Rs. 5,890; B/s Total : Rs. 42,199
:
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Answer:
Rs. 300
(c) Rent paid in advance
Rs. 200
(d) Insurance prepaid
Rs. 90
[Madras, B.C.S. (ICE) MAy 2002
[Ans : G.P. : Rs. 9,700; N.P. : Rs. 5,890; B/s Total : Rs. 42,199
:
Explanation:
Machinery
Bank Balance
Cash
Stock 1-1-93
Debtors
Creditors
15,000
2,000
1,500
300
5,000
28.000
4,500
2,000
5,200
2,500
1,000
66,000
66,000
Adjustments required:
(a) Stock on 31-12-93
Rs. 4,900
(b) Salaries unpaid
Rs. 300
(c) Rent paid in advance
Rs. 200
(d) Insurance prepaid
Rs. 90
[Madras, B.C.S. (ICE) MAy 2002
[Ans : G.P. : Rs. 9,700; N.P. : Rs. 5,890; B/s Total : Rs. 42,199
:
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