Question

Prepare the t/p/1 a/c for the year ending 31st march 2011 and the b/s as on the date
after taking into account the following adjustment:
(a) Closing stock was valued at Rs.80,000. It includes goods costing rs. 10,000
which were sold and recorded as sales but not delivered to the customers,
(b) On 1st January, 2011 a new machinery costing rs.80,000 were purchased on
credit but no entry has been passed.
(C) Depreciation was provided @ 10% p.a. on all fixed assets.
(d) Motorbikes were sold at book value on 1st April, 2010 and the cash was used by
Mr. Golu for his personal use but it was left unrecorded.
(e) A fire occurred on 1st April, 2011 destroying goods costing Rs.25,000.
(f) 2/3rd of the expanses on carriage are related to the goods purchased and 1/3rd
are related to sales.​

Answer 1

Explanation:

Closing Stock was valued at ₹ 14,500. ... Prepare Trading and Profit and Loss Account for the year ended 31st March, ... Following balances are taken from the books of Mr. Niranjan.