Adjustments required: (c)Rent paid in advance

(1)

for

the year

^ended

D e c e m b e r 31st 1993 and ^a B a l a n c e Sheet ^as

on

Trial Balance

fRavi, prepare Trading and Profit: and Loss Acca

Balance Sheet as on that date:

14 From the ^following

Trial B a l a n c e ofRavi,

Debit Credit

Particulars

Rs. Rs.

40,000 25,000

Capital

Sales

15,000

2,000

1,500

Purchases Salaries

Rent

300

Insurance

5,000 28,000

4,500 2,000

5,200 2,500

Drawings Machinery

Bank Balance

Cash

Stock 1-1-93 Debtors

Creditors 1,000

66,000

^66,000

Adjustments required:

(a) Stock on 31-12-93 (b) Salaries unpaid

(c)Rent paid in advance

(d)

Rs. 4,900

Rs.

³⁰⁰

Rs. 200

Insurance prepaid

Rs. 90

IMadras,

^B.C.S.^(ICE)^MAy.

20

Ans: GP.: Rs. 9,700; N.P. : Rs. 5,890; B/s Total: Rs.

1 0 )

(2)

F i N A L A C C O U N T S

Tradang ond

_a Ravi ^or^{tho yean}^endesd

Ps PaL

a1Duembu 1993

Rs Rs

PARTICULARS

D A T E

5908

P A R T I C U A R S

D A T E F O L I O |

N Ro

By Solas By losing Atok

Ps Rs Ps

To Openirq steuk

In Putchase

I6O00

a5000

0 0

100

lo qri0ss proit

a1100

29900

3 0 0 0 B g06 pCt

To SalanH6

Add:Qutstandiry ₃₀₀ ²³⁰⁰ 9100

1500

To Rent

l e s s P n e p a i c

fo Tnswan

900 ¹³⁰⁰

300 9 0 lOss Prepaid

5R10

9T00

9100

Polaxnashont og Ravia 60 31 Dearnbty 1993

iabi ities ^{Arno unt} Amn nunit _AsRt Armount Anmount

Hachinnuy COsh af boank

Cosh in hand

LOO00 fopital

dd: Net prcgk Les Drau nos

28000

580 A5OO

2000 4900 2500 200 500D 40810

dosing stouk

Debtorns

Prepaid Rent Prepai c InsurQgcO oudstandig Salaries

Credi tons

300

1o00

9 0

4290 2 90

(3)

17. Prepare a Trading and Profit & Loss Ae for the year erded 31st Decemter 1995 ad a Balance Sheet as on that date from the following Trial Balance of Mr. Akilan

Rs.

Rs

1,60,000

45,000

90,000 60,000

Capital

Bils Payable

Creditors

Drawings

Goodwill

35.000

70,000 Buiidings

Machinery 40,000

Purchase Returns 2,650

Sales

2,18,000

6,000

40,000 51,000

Bils Receivable

Opening Sock

Purchases

26,000

Wages

Carriage Outwards Carriage Inwards

500 1,000

35,000 3,000

Salaries Rent

Discount 1,100

2,300

Repairs

Bank 25,000

Cash

1,600

Debtors 45,000

Bad debts

1,200

Sales Retuns

2,000

6,000 Furniture

Advertisements 3,500

General Expenses ₄₅₀

4,85,650

^4,85,650

Adjustments:

() Closing Stock

^was^Rs.

35,000.

(i)

ii) Depreciate Machinery

^and

furniture by 10%

(ii) Outstanding

wages Rs.

1,500.

(iv) Prepaid advertisement

_{Rs. 500.}

(v) Create

5% on

debtors for

bad debts as

provision.

Madras, ^B.Se,^May

1 9 9 7

(4)

Ans: Gross Profit - Rs. 1,34,150;

Net Profit- Rs. 80,750; Balance Sheet Total - Rs. 3,02.250

(5)

ir ading ol

PAL a For

yeon end

LAmben 199

Rs Ps

PARTICULARS

11 Rs DATE

AOO00

P A R T I C U L A R S

D A T E L O

NO

By 8a105 Rs

Less RekunOs

Ps Rs Ps

lo Optning stotk To Purthase

a18O0o A000

51000

2650

48350

Al& 000

Los RetuZOS

Ry dosingAhk

500 ³⁶⁰⁰⁰

Adld Outstandg

o_casiag2 inular

134L50 351O00

151000

6CO Ru o1062 prat_ 134150

Io deprtigton en ^faritwt To ^dogroatonen ^Maahinouy

In Advisemenk les Prapald Io bad debts

3500 ₃₀₀₀

500 ^A 1200 2.35 l o _piouisen_ kor_dobteLs_

Io Caziagg Ouctuands 900

lo Salaries

To Rent To Ol&coun

35000 3000

10 RepaiTS lo qgroza oxgen

2300 490

io Notpriskt

^8O150

34150 1341D4

(6)

alanw

S h e e

FOLIO

t o 09 3 DeambUi Im2

Rs Ps

Rs PAR ARS

DATE ^e8ILITIE _l60000 ^DATE ^No ^Rs ^Ps ^Rs ^S

c a p i t a l

Add Atprcgi Los Drawligs

Gacoduoi Buildings NachineY

S0150 ⁹⁰⁰⁰⁰

195150

⁶⁰⁰⁰⁰

45000

40000 LOs8 dep aiatien_

lls uivable

Bank

cOsh

Debtors

Less Proulsion_jon_dabtors_

FuTnitun

H000 36000

35000

Btllapauuable Leaditnts

AO00 25000 TOmd

1600

Outstanding wa0

⁵⁰⁰ ⁴⁵⁰⁰⁰

42150

6000

1oss depHLLiation Prepald adveztiseman

5400

500 600

3022D 3022S0