Question

S. The following balances are extracted from the Ledger of Sunder for the year ending on
31st March, 20X2,
RS
Ps
Sunder's Capital Account
2,00,000 Discounts (Debit Balance)
4225
Sunder's Drawings Account (Dr.) 15,000
General Expenses
11,265
Purchasers less Retums
16,50,260 Postage and Telegrams
3.200
Rates and Taxes
2,500 Carriage Inwards
5,120
Salaries
35,240 Stock of Raw materials
16,800
Lighting
6,210 Stock of Finished Goods
23,400
Office Rent
6,000 Wages
32,212
Electric Power
25,600 | Plant and Machinery
50,250
Factory Land and Buildings
25,650 | Sundry Creditors
35,420
Reserve Account
12,500
Furniture and Fixtures
31,200
Travelling Expenses
2,220 Sundry Debtors
65,210
Insurance (Fire)
1,500 Cash in Hand
2,218
Advertisements Expenses
37,750 Cash at Bank
22,040
Sales less Returns
18,35,200 Sale of Scrap
1,000
Bad Debts written off
9,050
Make out the Manufacturing. Trading, Profit and Loss Account and Balance Sheet taking
into account the additional information given below:
(a) The Stock-in-Trade on 31st March was Raw Materials: Rs 15,767, Finished Goods:
Rs 8,333. (b) Provide Depreciation @ 10 per cent p.a. on Plant and Machinery, 5 per cent p.a.
on Furniture and Fixtures and 2-1/2 per cent pia. on Land & Building (c) Provide 2-1/2 per
cent for Discounts on Debtors and create provision at 10 per cent for Doubtful Debts
(d) Sundry Creditors include an amount of Rs 2,000 realised from Mr Sadhuram, whose
account had been written off two years back. (e) Insurance was paid in advance upto 31st
July 20X2. (1) One machine whose value in books as 1st April 20X1 stood Rs 12,000 was
disposed off on 31st Dec. 20x1 for Rs 8,750 in part exchange for a new machine costing
Rs 19,000 and an invoice for the net amount of 10,250 was entered in books. No deprecia-
tion need be provided on machinery disposed off during the year. (g) The following expendi-
ture was outstanding but no provision had been made for them in the books. Audit Fees:
Rs 1,200; Salaries: Rs 3,000; Electric Power Rs 2,500 and Advertisement: Rs 1.800. (b) A
deposit of Rs 5,000 received from one of the debtors was credited to his personal account.
Ignore fractions of Rupee in the calculations.​

Answer 1

Answer:

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