Q.6
Saraswati Coaching Classes
Following is the Trial Balance of Jitesh and Pritesh The partners share profits and losses
equally
(15)
Trial Balance as on 31st March, 2010
Particulars
Debit Balance() Credit Balance().
Capital:
Jitesh
2,00,000
Pritesh
1,20,000
Bills Receivable and Bills Payable
40,000
50,000
Opening Stock TD
70,000
Purchases and Sales TDTC
1,94,000 TP T 3,63,000
Returns cess
3,000 T
T4,000
Salaries PD
15,600
Wages TD
28,400
Conveyance PD
2,200
Commission PD
6,000
Miscellaneous Expenses PD
3,200
Warehouse Rent PD
9,000
Brokerage PO
3,000
Dock Charges To
4,200
Insurance
4,800
Goodwill
76,000
Land and Building BA
1,80,000
Shares in Bajaj Ltd.
50,000
Cash in hand
3,600
Sundry Debtors and Creditors
56,000
60,000
Motor Van
60,000
8,03,000
8,03,000
रारा
Adjustments :
1. Closing stock was valued at 375,000
2. Depreciate land and building and motor van at 5% p.a.
3. Insurance is paid for the year ended 31" May, 2010.
4. Jitesh has taken goods of 3,000 for the personal use.
5. Goods of 8,000 were destroyed by fire and the Insurance Company admitted a claim of
36,400 only.
6. Commission due but not received 1,600.
Prepare after taking into account the adjustments :
Trading and Profit and Loss account for the year ended 31 March, 2010 and a Balance Sheet
as on that date.
Answers
Answer:
Q.6
Saraswati Coaching Classes
Following is the Trial Balance of Jitesh and Pritesh The partners share profits and losses
equally
(15)
Trial Balance as on 31st March, 2010
Particulars
Debit Balance() Credit Balance().
Capital:
Jitesh
2,00,000
Pritesh
1,20,000
Bills Receivable and Bills Payable
40,000
50,000
Opening Stock TD
70,000
Purchases and Sales TDTC
1,94,000 TP T 3,63,000
Returns cess
3,000 T
T4,000
Salaries PD
15,600
Wages TD
28,400
Conveyance PD
2,200
Commission PD
6,000
Miscellaneous Expenses PD
3,200
Warehouse Rent PD
9,000
Brokerage PO
3,000
Dock Charges To
4,200
Insurance
4,800
Goodwill
76,000
Land and Building BA
1,80,000
Shares in Bajaj Ltd.
50,000
Cash in hand
3,600
Sundry Debtors and Creditors
56,000
60,000
Motor Van
60,000
8,03,000
8,03,000
रारा
Adjustments :
1. Closing stock was valued at 375,000
2. Depreciate land and building and motor van at 5% p.a.
3. Insurance is paid for the year ended 31" May, 2010.
4. Jitesh has taken goods of 3,000 for the personal use.
5. Goods of 8,000 were destroyed by fire and the Insurance Company admitted a claim of
36,400 only.
6. Commission due but not received 1,600.
Prepare after taking into account the adjustments :
Trading and Profit and Loss account for the year ended 31 March, 2010 and a Balance Sheet
as on that date.