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Q-1 From the following Trial Balance of Evergreen and company , prepare trading and profit

and loss account and Balance Sheet.


Trial Balance as on 31st December, 2001
__________________________________________________________________________
Particulars
Debit
Credit_______________
Cash in Hand
2400
Purchases
2,40,000
Stock as on 1-1-2001
70,000
Debtors
1,00,000
Plant & Machinery
1,20,000
Furniture
30,000
Bills receivable
40,000
Rent & Taxes
20,000
Wages
32,000
Salaries
37,600
Capital
2,00,000
Bills Payable
44,000
Creditors
48,000
Sales
4,00,000
Total
6,92,000
6,92,000
___________________________________________________________________________
Additional Information
1

Closing Inventory as on 31st December, 2001 , Rs. 50,000

Outstanding Wages

Depreciation on Plant & Machinery at 10% and furniture at 5%

Rs. 5000

Q-2 From the following Trial Balance of Sun Shine and Company, prepare trading and profit
and loss account and Balance Sheet.
Trial Balance as on 31st December, 2001
__________________________________________________________________________
Particulars
Capital
Loans
Sales
Account Payable
Bills Payable
Purchase Return
Dividend Received

Debit
-

Credit_______________
25,000
5,000
35,000
4,000
5,000
2,000
3,000

Plant & Machinery


13,000
Buildings
17,000
Debtors
9,650
Purchases
18,000
Discount Allowed
1,200
Wages
7,000
Salaries
3,000
Travelling Expenses
750
Carriage Outward
200
Insurance
300
Commission Paid
100
Cash on Hand
100
Bank
1,600
Repairs
500
Interest on Loans
600
Opening Stock
6,000
___________________________________________________________________________
Total
79,000
79,000
___________________________________________________________________________
Additional Information
1

Closing Inventory as on 31st December, 2001 , Rs. 8,000

Depreciation on Plant & Machinery at 15% and Buildings at 10%

Provision for doubtful debts Rs.500

Insurance prepaid Rs.50

Outstanding Rent Rs.100

Q-3 From the following Trial Balance of Premier & Company, prepare trading and profit and
loss account and Balance Sheet.
Trial Balance as on 31st December, 2001
__________________________________________________________________________
Particulars
Capital
Bank Loans
Sales
Account Payable
Bills Payable
Purchase Return

Debit
-

Credit_______________
1,81,500
1,50,000
3,00,000
40,000
26,000
10,000

Plant & Machinery


1,20,000
Rent Rates & taxes
20,000
Sales Return
30,000
Carriage Outward
4,000
Account Receivables
70,000
Opening Inventory
1,20,000
Purchases
2,30,000
Discount Paid
5,000
Interest on Bank Loan
5,000
Salaries
70,000
Cash in Hand
5,000
Legal Charges
500
General Expenses
8,000
Cash at Bank
20,000
___________________________________________________________________________
Total
7,07,500
7,07,500
___________________________________________________________________________
Additional Information
1

Closing Inventory as on 31st December, 2001 , Rs. 1,20,000

Provision for doubtful debts @ 5% on Account Receivables

Interest on Bank Loan outstanding Rs 7,000

Q 4 The following balances were extracted from the books of Shri Sudesh Kumar on
30thMarch08
Rs.
Rs.
Capital
24,500
Bad Debts
550
Drawings
2,000
Loan
7,880
General Expenses
2,500
Sales
65,360
Buildings
11,000
Purchases
47,000
Machinery
9,340
Scooter
2,000
Stock
16,200
Bad Debts Provision
900
Power
2,240
Commission (Cr.)
1,320
Taxes
1,315
Scooter Expenses
1,800
Wages
7,200
Bills Payable
3,850
Debtors
6,280
Cash
80
Creditors
2,500
Bank Overdraft
3,300
Charity
105
Prepare Final Accounts for the year ended 30th March08 after giving effect to the following
adjustments:a) Stock 0n 30th March08 was valued at Rs. 23,500.
b) Write off a further of Rs.160 bad debts and maintain the provision for bad debts at
5% on debtors.

c) Depreciate machinery at 10 % and Scooter 12%


d) Provide Rs. 750 for outstanding interest on overdraft.

Q 5. Show the treatment of the following items in the profit and loss account and balance
sheet :
Ledger Accounts
Debtors
Provision for doubtful debts
Bad Debts

Debit
40,300
--700

Credit
---2,000
----

Q-6 From the following Trial Balance of Raman Traders, prepare trading and profit and loss
account and Balance Sheet.
Trial Balance as on 31st December, 2001
__________________________________________________________________________
Particulars
Debit
Credit_______________
Capital
56,000
Sales
2,50,000
Account Payable
30,000
Purchase Return
2,000
Cash on Hand
1,500
Cash at Bank
3,000
Purchases
1,10,000
Sales Return
1,500
Wages
20,000
Power & Fuel
8,000
Carriage Outward
6,000
Carriage Inwards
5,000
Opening Inventory
6,000
Land
10,000
Buildings
80,000
Plant & Machinery
30,000
Patents
15,000
Salaries
12,000
Sundry Expenses
6,000
Insurance
1,000
Drawings
8,000
Account Receivables
15,000
___________________________________________________________________________
Total
3,38,000
3,38,000
___________________________________________________________________________
Additional Information

Closing Inventory as on 31st December, 2001 , Rs. 20,000

Provision for doubtful debts @ 5% on Account Receivables

Outstanding Salaries Rs.5,000, Outstanding Wages Rs. 3,000

Depreciation on Building , Machinery & Patent @ 10%

Q-7 From the following Trial Balance of Kamal Enterprises, prepare trading and profit and
loss account and Balance Sheet.
Trial Balance as on 31st December, 2001
__________________________________________________________________________
Particulars
Debit
Credit_______________
Capital
27,000
Sales
1,50,300
Account Payable
12,000
Bills Payable
8,000
Purchase Return
5,000
Discount Received
1,000
Dividend Received
2,000
Rent Received
3,500
Cash in Hand
500
Cash at Bank
1,200
Office Furniture
6,000
Account Receivables
15,000
Commissions
1,200
Bills Receivables
3,500
Power & Fuel
6,000
Plant & Machinery
24,000
Office Expenses
2,000
Carriage Inwards
1,200
Carriage Outwards
3,500
Rent Rates & taxes
1,700
Lease Hold Premises
25,000
Wages
30,000
Salaries
7,000
Opening Inventory
12,000
Sales Return
2,000
Purchases
60,000
Drawings
7,000
___________________________________________________________________________
Total
2,08,800
2,08,800
___________________________________________________________________________
Additional Information
1

Closing Inventory as on 31st December, 2001 , Rs. 18,000

Depreciate Plant & Machinery at 10%

Salary Outstanding Rs. 1000, Power & Fuel Outstanding Rs. 2000

Rs. 5000 was purchase of Plant & Machinery, but wrongly included in
wages

Provision for doubtful debts for Rs. 1500

Discount earned but not received Rs.100

Outstanding Commission Rs.200

Rent Received includes Rs. 500 Received in Advance

Q-8 From the following Trial Balance Rajan Jewellers, prepare trading and profit and loss
account and Balance Sheet.
Trial Balance as on 31st July, 2001
__________________________________________________________________________
Particulars
Debit
Credit_______________
Capital
5,00,000
Sales
3,50,000
Purchase Return
1,800
Mr. Murhty
32,000
Mr. Varadan
24,000
Commission
7,500
Opening Inventory
72,000
Purchases
2,25,000
Furniture
15,000
Motor Cars
30,000
Buildings
4,25,800
Mr. Gangappa
12,000
Mr. Gorishankar
20,000
Mr. Mathews
18,000
Advertisement
22,000
Repairs & Maintenance
13,000
General Expenses
16,000
Insurance
7,000
Cash in Hand
3,500
Cash at bank
6,000
Salaries
30,000
___________________________________________________________________________
Total
9,15,300
9,15,300
___________________________________________________________________________
Additional Information

Closing Inventory as on 31st July, 2001 , Rs. 80,000

Interest on Capital at 6%

Prepaid advertisement Rs. 2,000

Goods withdrawn for personal use by owner Rs. 1,800

Outstanding Salaries Rs. 3,000

Depreciation on Buildings at 5%, furniture 5% and Motor Cars at 10%

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