Accounting
Autor: Arpit Gour • October 6, 2017 • Case Study • 891 Words (4 Pages) • 787 Views
Q 1: From the following balances and with the help of the Trial Balance, prepare a Trading A/c, Profit & Loss A/c and Balance Sheet as 31st March 2015
Dr. | Cr. | ||
Particulars | Amount Rs. | Particulars | Amount Rs. |
Opening Stock Purchases Sales Return Buildings Debtors Salaries Office Expenses Wages Travelling Expenses Fire Insurance Premium Machinery Carriage on Purchases Commission Cash in Hand Rent | 12000 40000 6,000 50,000 16,000 2,400 1,200 10,000 400 800 20,000 700 400 2,300 1,800 | Sales Discount Purchase Return Interest Capital Creditors | 86,000 400 4000 800 62,000 10,800 |
1,64,000 | 1,64,000 |
Adjustments:
- Stock on 31st March 2015 was valued at Rs. 16,000.
- Wages RS. 2000 and Salaries RS. 1,200 are outstanding
- Rent for 2 months at the rate of Rs. 500 per month is outstanding
- Depreciate Building by 5% and machinery by 10%
- Prepaid insurance by Rs. 200
Q 2: Following are the balances of M/S Gupta and Co. as on 31st March 2015:
Rs. | |
Cash in Hand | 540 |
Cash at Bank | 2,630 |
Patent | 7,500 |
Salaries | 25,000 |
Purchases | 40,675 |
Return Inwards | 680 |
Wages | 8,480 |
Fuel and Power | 4,730 |
Bad Debts | 210 |
Bad Debts Provision | 340 |
Carriage on Sales | 3,200 |
Carriage on Purchases | 2,040 |
Opening Stock | 5,760 |
Building | 32,000 |
Freehold Land | 10,000 |
Machinery | 20,000 |
General Expenses | 22,790 |
Insurance | 600 |
Drawings | 5,245 |
Debtors | 14,500 |
Sales | 98,440 |
Return Outwards | 500 |
Capital | 92,000 |
Creditors | 6,300 |
Rent – Cr. | 9,000 |
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