Question

Unit II
From the following Trial Balance of Seema
Garments as at 3lst March, 2016, prepare
Trading and Profit & Loss Account and
Balance Sheet.
Particulars
Dr. (Rs.) Cr. (Rs.)
Opening Stock
15,000
Purchase and Sales
1,09,000 1,80,000
Wages
8,000
Fuel, Power and Lightning
12,000
Salaries
11,000
Income Tax
3,500
Income Tax Advance Payment 2,000
Loan to X @ 10% p.a.
5,000
Interest on X's Loan
300
Commission Received
4,500
Rent
4,000
Rent owing
600
Furniture (Includes furniture
of Rs. 1,000 purchased on
Ist Oct, 2015)
5,000
B/R and B/P
6,000
1,600
J-097472,000
Plant
Debtors and Creditors
28,000
13,000
Capital
1,00,000
19,500
Cash
3,00.000 3.00.000
Information:
Closing stock was Rs. 30,000.
(ii) Goods worth Rs. 5,000 were sold and
dispatched on 28th March, 2016 but no
entry was passed to this effect.
(iii) Goods costing Rs. 7,000 were purchased
and included into stock but no entry was
passed to record the purchases.
(iv) A B/R for Rs. 2,000 included in B/R has
been dishonored.
(v) Create a provision of 2% for discount on
debtors and creditors.
(vi) 1/3 of the commission received relates to
the next year.
(vii) Depreciate furniture by 10% p.a.
(viii Salaries for the month of March, 2016
are still outstanding.
3-83-17-0519) J-0974
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Answer 1

Answer:

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