Q3) Solve any one: [1 × 10 = 10]
8
23
a) From the following Trial Balance of B & B Sons., Bhopal, prepare Trading
ic-
and Profit & Loss Account for the year ended 2020 and a Balance Sheet
tat
as on that date after considering the following adjustments.
1s
Trial Balance as on 31st March 2020
3:2
02 91
Particulars Debit (Rs.) Credit (Rs.)
9:1
0
Bharat’s Capital ----- 2,00,000
20
0/0 13
Land & Buildings 87,000
0
9/2
Plant & Machinery 17,500
.23 GP
Goodwill 20,000
E
82
Bharat’s Drawing 22,600
8
C
23
Cash in hand 1,795
ic-
16
Stock as on April 2020 27,000
tat
8.2
1s
Wages 10,000
.24
3:2
Purchases Less Returns 69,000
91
49
9:1
Carriage Inward 600
30
20
Traveller’s Commission and Expenses 6,000
01
02
Insurance Premium 2,000
9/2
GP
Motor Car 3,000
0/0
Carriage Outward 1,400
CE
82
8
Sales Less Returns ---- 94,000
23
.23
ic-
Salaries 15,000
16
tat
Bank Charges 105
8.2
1s
Reserve for Doubtful Debts --- 1,500
.24
3:2
91
Debtors 20,000
49
9:1
Creditors --- 7,500
30
20
Total
01
02
Adjustments:
9/2
GP
i) On 31st March 2020 the stock was valued at Rs.46,000.
0/0
ii) Insurance Premium amounting to Rs.800 is prepaid.
CE
82
iii) Outstanding salaries amounted to Rs.1000.
.23
iv) Depreciate Plant & Machinery @ 10% p.a. and Motor Car @ 20% p.a.
16
8.2
v) Create a Reserve for Doubtful Debts @ 10% on Debtors.
.24
49
[5860]-101 4
Q3) Solve any one. [1×10=10]
a) From the following particulars taken out from the books of Sharvee
Electricals prepare trading, P&L A/c for the year ended 31st March, 2022
and Balance Sheet as on that date.
Trial Balance
Particulars Debit Amount Credit Amount
H H
Sundry Debtors 52,000
Cash in Hand 2,392
Creditors 22,000
Furniture & Machinery 27,500
Motor car 22,000
Purchases 1,45,000
Sales 2,92,000
Sales Return 2,600
Salaries 8,420
Opening stock 11,400
Motor Car Expenses 6,108
Rent, Rates and Taxes 3,600
Insurance Premium
Paid on 1st November 2021 2,400
Cash at Bank 6,200
Wages 23,600
General Expenses 2,680
Carriage Inward 2,040
Carriage Outward 1,630
Fuel & power 6,430
Capital 20,000
Drawings 8,000
Total H 3,34,000 3,34,000
Adjustments:
i) Closing stock amounted to H 35,000.
ii) Goods of H 2,000 were distributed as free samples.
iii) Further Bad debts of H 2,000 and a provision for bad debts @ 5%
on Debtors. to be made.
iv) Depreciate furniture & Machinery by 10% and motor car by 20%.
v) Outstanding wages is H 6,400.
OR
[5946]-1001A 2
Q3) Answer any one questions. [10]
a) Following is the Trial balance of Mr. Nadeem for the year ended 31st
March 2021, prepare final a/c.
Particulars Debit (H) Credit (H)
Capital Account 25,000
Drawings 750
Investments 10,000
Motor Vehicles 8,000
Office Furniture 2,000
Office equipments 6,000
Cash in hand 550
Purchases 47,500
Sales 75,500
Returns 1,500 1,000
Carriage inward 350
Opening stock 14,000
Customs, duties and
clearing charges 3,000
Debtors 17,600
Salaries 2,500
Trade expenses 300
General expenses 600
Bad debts 250
Reserve for bad debts 750
Discount 100 50
Creditors 12,600
Prepaid Insurance 100
Outstanding salaries 200
Total 1,15,100 1,15,100
[6025]-101 2
Adjustments:
i) Closing stock was valued at H 8,000/-
ii) Depreciation on Motor vehicle @ 5%, office furniture @ 5% and
office equipments at 10%.
iii) Create 5% Reserve for Doubtful debts on debtors.
iv) Goods costing H 100/-was taken for personal use by Nadeem and it
was included in debtors.
v) Goods worth H 1,000/- were destroyed by fire and the Insurance
company admitted a claim H 800/-.
As a finance Manager you are required to prepare trading and profit and
loss account for the year ended 31st March 2021 and a balance sheet as
on that date.
[6025]-101 3
Q3) Solve any one: [10]
a) From the following Trial Balance of Shri Dinesh, prepare trading and
profit and loss account for the year ended 31/3/2023 and balance sheet
as on that date.
Trial Balance
as on 31stMarch 2023
Debit Balance Rs. Credit balance Rs.
Machinery 90,000 Capital 1,15,200
Buildings 40,000 Creditors 45,000
Stock (1-4-2022) 20,200 Bills Payables 4,000
Purchases 1,10,800 Return Outwards 1,500
Wages & salaries 17,000 Interest and commission 900
Carriage outward 3,000 Outstanding expenses 1,150
Sundary debtors 35,000 Sales 1,90,500
General Expenses 9,100 R.D.D. 2,500
Rent 1,700
Bad debts 650
Legal charges 700
Prepaid Rent 200
Loan to Manish 17,000
Drawings 4,300
Cash in hand 1,350
Cash at bank 9,750
3,60,750 3,60,750
The following adjustments should be taken into consideration.
i) Stock on 31st March 2022 was valued at cost Rs. 20,900. Market
Price was Rs. 24,000
ii) Depreciate Machinery at 10% and Building at 5%
OR
[6118]-101 2
Q3) Solve any ONE: (10 Marks)
A) The following trial balance has been extracted from the books of Rajesh
on 31st March, 2021.
Trial Balance as on 31st March 2021
Debit Balance Amount H Credit Balance Amount H
Drawings 44,000 Capital 1,76,000
Plant and Machinery 1,00,000 Sales 4,72,000
Opening stock 20,000 Provision for bad and 2,000
doubtful debts
Purchases 2,70,000 Bank overdraft 20,000
Wages 62,000 Discount received 6,000
Salaries 70,000 Sundry creditors 24,000
Insurance 45,000
Rent and taxes 19,000
Sundry debtors 70,000
7,00,000 7,00,000
The following adjustments are to be made:
i) Stock on 31st March 2021 was Rs. 28,000.
ii) Provision for doubtful debts is to be maintained at 5% on sundry
debtors.
iii) Depreciate plant and machinery at 20%.
As an Accountant you are required to prepare trading and profit and loss
account for the year ended 31st March 2021 and a balance sheet as on that
date.
[5860] - 1001A 3
Q2) a) Given below is the Trial Balance of Mr. Shah as on 31st March,
2018.[10] Dr.
Cr
.
Particulars Amount Particulars Amount
Cash in hand 6,000 Bank loan 20,000
Sundry Debtors 23,300 Sundry creditors 15,000
Bills Receivable 10,000 Sales 65,800
Opening stock 16,000 Purchase Returns 3,700
Purchases 37,900 Bills payable 8,000
Sales Returns 800 Discount Received 2,500
Salaries 11,000 Capital 55,000
Wages 2,000
Advertisements 3,200
Discount Allowed 1,000
Machinary 40,000
Carriage 2,500
Insurance 1,800
Drawings 2,500
Octroi duty 800
Furniture 8,000
Office Rent 3,200
1,70,000 1,70,000
Additional Information :
i) Closing stock of goods on 31.3.18 was valued at Rs. 21,000/-
ii) Depreciate furniture by 5% and machinary by 10% p.a.
iii) Outstanding salary Rs. 1,000/- and wages Rs. 500/-
iv) Prepaid insurance Rs. 300/-
Prepare trading & profit & loss account for the year ending 31.3.2018 and
Balance sheet as on that date.
b) The Trial Balance of Mr. Sham as on 31.3.2018. was as under.
Dr. Cr.
Particulars Amount Particulars Amount
Plant & machinary 78,000 Capital 2,00,000
Furniture 20,000 Sales 1,47,000
Purchases 60,000 Returns 750
Returns 3,000 Discount 800
Opening stock 30,000 Creditors 30,625
Discount 425
Sundry Debtors 1,45,000
Salaries 7,550
Wages 10,000
Carriage outward 1,200
Rent 10,000
Advertisement 2,000
Cash 12,000
3,79,175 3,79,175
Additional Information:
i) Closing stock was valued at Rs. 54,220/-
ii) Provision for bad debts is to be kept at Rs. 500/-
iii) Allow interest on capital @ 5% p.a.
iv) Depreciate plant & machinary @ 10% p.a.
v) The proprietor Mr. Sham has taken goods worth Rs. 5,000/- for
personal use and distributed goods worth Rs. 10,000/- as free
samples.
Prepare Trading, profit & loss Account and Balance Sheet. as on
31.3.2018.
b) The Trial Balance of Mr. PQR as on 31-3-2018 was as under.
Dr. Cr.
Particulars Amount Particulars Amount
Plant & Machinery 78,000 Capital 2,00,000
Furniture 20,000 Sales 1,47,000
Purchases 60,000 Returns 750
Returns 3,000 Discount 800
Opening Stock 30,000 Creditors 30,625
Discount 425
Sundry Debtors 1,45,000
Salaries 7,550
Wages 10,000
Carriage outward 1,200
Rent 10,000
Advertisement 2,000
Cash 12,000
3,79,175 3,79,175
Adjustments :
i) Closing stock was valued at Rs. 54,220/-
ii) Provision for Bad Debts is to be kept Rs. 500/-
iii) Interest on capital at 5% p.a.
iv) Depreciate Plant & Machinery @ 10% p.a.
v) The proprietor has taken goods worth Rs. 5,000/- for personal
use and distributed goods worth Rs. 10,000/- as free samples.
Prepare Trading A/c, Profit & Loss A/c and Balance Sheet as on
31-3-2018.
[10
]
Q2) From the following trial balance of Rajan, prepare trading and profit and loss
Account for the year ended 31.3.2016 and the Balance Sheet on at that date
after taking into account the adjustments given below: [10
Trial Balance as on 31.3.2016
Particulars Rs Particulars Rs
Drawings 7,600 Capital 2,90,000
Puchases 89,000 Sales 1,50,000
Sales Return 2,800 Purchases Return 4,500
Stock (1.4.2015) 12,000 Interest 3,500
Wages 8,000 Sundry creditors 12,000
Building 2,20,000 Bills payable 7,000
Freight 20,000
Trade Expenses 2,000
Advertisement Taxes 2,400
& InsuranceSundry 1,300
Debtors Bills 65,000
Receivables Cash at 15,000
Bank 12,000
Cash in hand 1,900
Salaries 8,000
4,67,000 4,67,000
Adjustments:
1) Stock on 31.3.16 was valued at A15,000.
2) Insurance was prepaid of A400.
3) Salary outstanding A2000 and taxes outstanding A1300.
4) Depreciate Building at 2% p.a
Following Trial Balance is prepared on 31.3.16 from Asha’s book. Prepare
Trading and profit and Loss Account for the year ended 31.3.16 & the Balance
Sheet as on that date after taking into account the adjustment given below.[10]
Trial Balance as on 31.3.2016
Dr. Cr.
Particulars A Particulars A
Cash in hand 8,000 Sales 5,00,000
Cash at Bank 12,000 Creditors 40,000
Wages 20,000 Capital 3,20,000
Machinery 2,12,000 Commission 2,800
Bills Receivables 40,000
Opening stock 84,000
Purchases 3,30,000
Sales Return 6,000
Salaries 32,000
Debtors 86,000
Taxes 22,000
Bad debts 6,000
Freight
8,62,800 8,62,800
Adjustments :
1) Closing stock A90,000/-
2) Outstanding salaries A3,200 and wages A2000.
3) Prepaid insurance A900 and accrued commission A1200.
4) Charge 10% depreciation on machinery.
