Question

The Mafatlal manufacturing company Ltd. Chennai, was registered with a
nominal capital Rs. 12,00,000 in equity shares of Rs. 10 each. The following is the
list of balances extracted from its books on 31st March 1998.
Rs.
Rs.
Premises
6,00,000 Sales
8,30,000
Stock (1.4.97)
1,50,000 6% debentures 5,00,000
14,400
Profit & Loss A/c (Cr) 29.000
Furniture
Cails-in-arrears
15,030 Bills payable 76,000
Plant & Machinery
6,60,000 Sundry creditors 1,00,000
Interim dividend paid
75,000 General reserve 50,000
Sundry debtors
1,74,000 Provision for doubt
fui debts (1.4.97) 7,000
Goodwill
68,000 Subscribed, called
Cash and bank balances
53,300 up & paid up capitai 8,00.000
urchases
3,70,000
Preliminary expenses
10,000
Wages
1,69,730
General expenses
13,670
Advertising
20,000
Freight
26,230
Salaries
29,000
Directors' fees
11,450
Bad debts
4,220
Debenture interest paid
18,000
24,92,000
24,92,000
The following adjustments have to be made:
(1) Stock on 31st March 1998 was valued at Rs. 1,90.000
Ü) Write off preliminary expenses
(ii) Provide for half year's debenture interest.
(iv) The provision for doubtful debts on 31st March 1998 should be equal to
1% op sales.
(v) Directors' fees are outstar.ding to the extent of Rs. 550 and salaries
Rs. 1,000.
(v) Depreciate Plant B Machinery by 5% premises by 2% and write off
Rs. 2,400 on furniture.
(vii) Goods to the value of Rs. 3,000 were distributed as free samples during
the year But no entry in this respect had been made.
You are required to prepare the Statement of Profit & Loss for the year ended
31st March 1998 and the Balance Sheet as on the same date.​

Answer 1

Answer:

ye business too nhi h ye tho accountancy ka question h