Question

shown on debit side of Trading A/c.
*(8) From the following Trial Balance of M/s Sharma and Varma, you are requit Bad
to prepare a Trading and Profit and Loss Account for the year end sur
31 March, 2013 and Balance Sheet as on that date after taking intra
consideration the additional information given below. Partners share prof
and losses in their capital ratio.
Debit Balances
Amt.
Credit Balances
Sharma
90,00 Cas
Stock on 1st April, 2012
28,000 Capital A/c:
Varma
60,00
Purchases
1,75,000
Salaries
30,00
17,500 Sundry Creditors
Unproductive wages
1,800 Rent received
3,50
Carriage
1,200 Bank overdraft
24,50 1
Royalties
2,500 Sales
2,26,75 2
Freight
1,400
Printing and Stationery
2,100
Sundry Debtors
40,000
Furniture
20,000
Leasehold property
95,000
Investment
35,000
Travelling expenses
1,750
Advertisement (for 3 years)
4,275
Bad debts
1,425
Discount allowed
800
Cash in hand
7,000
4,34,750
4,34,75
Additional Information:
(1) Stock on hand on 31st March, 2013 was at cost * 38,000.
121 Provide R.D.D. at 5% on Sundry Debtors and Reserve for di​

Answer 1

Answer:

shown on debit side of Trading A/c.

*(8) From the following Trial Balance of M/s Sharma and Varma, you are requit Bad

to prepare a Trading and Profit and Loss Account for the year end sur

31 March, 2013 and Balance Sheet as on that date after taking intra

consideration the additional information given below. Partners share prof

and losses in their capital ratio.

Debit Balances

Amt.

Credit Balances

Sharma

90,00 Cas

Stock on 1st April, 2012

28,000 Capital A/c:

Varma

60,00

Purchases

1,75,000

Salaries

30,00

17,500 Sundry Creditors

Unproductive wages

1,800 Rent received

3,50

Carriage

1,200 Bank overdraft

24,50 1

Royalties

2,500 Sales

2,26,75 2

Freight

1,400

Printing and Stationery

2,100

Sundry Debtors

40,000

Furniture

20,000

Leasehold property

95,000

Investment

35,000

Travelling expenses

1,750

Advertisement (for 3 years)

4,275

Bad debts

1,425

Discount allowed

800

Cash in hand

7,000

4,34,750

4,34,75

Additional Information:

(1) Stock on hand on 31st March, 2013 was at cost * 38,000.

121 Provide R.D.D. at 5% on Sundry Debtors and Reserve for di