Double Entry Book Keeping Ts Grewal 2016 Solutions for Class 11 Commerce Accountancy Chapter 13 Final Accounts And Concept Of Trading Account, Profit And Loss Account, And Balance Sheet (Without Adjustments), Marshalling Of Balance Sheet are provided here with simple step-by-step explanations. These solutions for Final Accounts And Concept Of Trading Account, Profit And Loss Account, And Balance Sheet (Without Adjustments), Marshalling Of Balance Sheet are extremely popular among class 11 Commerce students for Accountancy Final Accounts And Concept Of Trading Account, Profit And Loss Account, And Balance Sheet (Without Adjustments), Marshalling Of Balance Sheet Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Double Entry Book Keeping Ts Grewal 2016 Book of class 11 Commerce Accountancy Chapter 13 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Double Entry Book Keeping Ts Grewal 2016 Solutions. All Double Entry Book Keeping Ts Grewal 2016 Solutions for class 11 Commerce Accountancy are prepared by experts and are 100% accurate.
Page No 18.35:
Question 1:
Answer:
Trading Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
2,300 |
Sales |
2,540 |
|
|||
Purchases |
2,900 |
|
Less: Sales Return |
(50) |
2,490 |
||
Less: Purchases Return |
(240) |
2,660 |
Closing Stock |
4,770 |
|||
Carriage Inwards |
10 |
|
|
||||
Gross Profit (Balancing Figure) |
2,290 |
|
|
||||
|
7,260 |
|
7,260 |
||||
|
|
|
|
||||
Note: Depreciation is an Indirect Expense, therefore it is not shown in the Trading Account.
Page No 18.35:
Question 2:
Trading Account | |||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
2,300 |
Sales |
2,540 |
|
|||
Purchases |
2,900 |
|
Less: Sales Return |
(50) |
2,490 |
||
Less: Purchases Return |
(240) |
2,660 |
Closing Stock |
4,770 |
|||
Carriage Inwards |
10 |
|
|
||||
Gross Profit (Balancing Figure) |
2,290 |
|
|
||||
|
7,260 |
|
7,260 |
||||
|
|
|
|
||||
Note: Depreciation is an Indirect Expense, therefore it is not shown in the Trading Account.
Answer:
Trading Account | |||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Opening Stock |
20,000 |
Sales |
1,40,700 |
Purchases |
85,000 |
Closing Stock |
18,000 |
Carriage on Purchases |
2,300 |
|
|
Gross Profit (Balancing Figure) |
51,400 |
|
|
|
1,58,700 |
|
1,58,700 |
|
|
|
|
Note: Carriage on Sales and Office Rent are the Indirect Expenses, therefore, these are not considered to compute the amount of Gross Profit.
Page No 18.35:
Question 3:
Trading Account | |||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Opening Stock |
20,000 |
Sales |
1,40,700 |
Purchases |
85,000 |
Closing Stock |
18,000 |
Carriage on Purchases |
2,300 |
|
|
Gross Profit (Balancing Figure) |
51,400 |
|
|
|
1,58,700 |
|
1,58,700 |
|
|
|
|
Note: Carriage on Sales and Office Rent are the Indirect Expenses, therefore, these are not considered to compute the amount of Gross Profit.
Answer:
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
40,000 |
Sales |
3,80,000 |
|
|||
Purchases |
4,00,000 |
|
Less: Return Inwards |
(20,000) |
3,60,000 |
||
Less: Return Outwards |
(80,000) |
3,20,000 |
Closing Stock |
1,20,000 |
|||
Carriage Inwards |
20,000 |
|
|
||||
Wages and Salaries |
50,000 |
|
|
||||
Gross Profit (Balancing Figure) |
50,000 |
|
|
||||
|
4,80,000 |
|
4,80,000 |
||||
|
|
|
|
||||
Note: Closing Stock is taken at its Market Price (i.e. Rs 1,20,000) instead of its Cost (i.e. Rs 1,30,000). This is because, as per Principle of Conservatism, Closing stock is taken at Cost or Market Price whichever is less.
Page No 18.36:
Question 4:
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
40,000 |
Sales |
3,80,000 |
|
|||
Purchases |
4,00,000 |
|
Less: Return Inwards |
(20,000) |
3,60,000 |
||
Less: Return Outwards |
(80,000) |
3,20,000 |
Closing Stock |
1,20,000 |
|||
Carriage Inwards |
20,000 |
|
|
||||
Wages and Salaries |
50,000 |
|
|
||||
Gross Profit (Balancing Figure) |
50,000 |
|
|
||||
|
4,80,000 |
|
4,80,000 |
||||
|
|
|
|
||||
Note: Closing Stock is taken at its Market Price (i.e. Rs 1,20,000) instead of its Cost (i.e. Rs 1,30,000). This is because, as per Principle of Conservatism, Closing stock is taken at Cost or Market Price whichever is less.
Answer:
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Purchase (Adjusted) |
6,60,000 |
Sales |
7,44,000 |
||
Freight and Carriage Inwards |
3,600 |
|
|
||
Wages |
6,000 |
|
|
||
Gross Profit (Balancing Figure) |
74,400 |
|
|
||
|
7,44,000 |
|
7,44,000 |
||
|
|
|
|
||
Notes:
1. Freight and Carriage Outwards are indirect expenses, therefore it is not recorded in the Trading Account.
2. Closing Stock (i.e. Rs 50,400) is not recorded in the Trading Account as it is already adjusted in the amount of Adjusted Purchases.
Page No 18.36:
Question 5:
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Purchase (Adjusted) |
6,60,000 |
Sales |
7,44,000 |
||
Freight and Carriage Inwards |
3,600 |
|
|
||
Wages |
6,000 |
|
|
||
Gross Profit (Balancing Figure) |
74,400 |
|
|
||
|
7,44,000 |
|
7,44,000 |
||
|
|
|
|
||
Notes:
1. Freight and Carriage Outwards are indirect expenses, therefore it is not recorded in the Trading Account.
2. Closing Stock (i.e. Rs 50,400) is not recorded in the Trading Account as it is already adjusted in the amount of Adjusted Purchases.
Answer:
Profit and Loss Account for the year ended March 31, 2016 |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Salaries and Wages |
3,000 |
Gross Profit (65,000 × 45%) |
29,250 |
Commission Paid |
200 |
Rent Received |
1,700 |
Postage and Telegram |
150 |
Interest on Investments |
1,500 |
Insurance |
300 |
|
|
Interest Paid |
400 |
|
|
Carriage Outwards |
500 |
|
|
Advertising |
1,000 |
|
|
Discount Allowed |
1,800 |
|
|
Bad Debts |
900 |
|
|
Brokerage Paid |
95 |
|
|
Net Profit (Balancing Figure) |
24,105 |
|
|
|
32,405 |
|
32,450 |
|
|
|
|
Page No 18.36:
Question 6:
Profit and Loss Account for the year ended March 31, 2016 |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Salaries and Wages |
3,000 |
Gross Profit (65,000 × 45%) |
29,250 |
Commission Paid |
200 |
Rent Received |
1,700 |
Postage and Telegram |
150 |
Interest on Investments |
1,500 |
Insurance |
300 |
|
|
Interest Paid |
400 |
|
|
Carriage Outwards |
500 |
|
|
Advertising |
1,000 |
|
|
Discount Allowed |
1,800 |
|
|
Bad Debts |
900 |
|
|
Brokerage Paid |
95 |
|
|
Net Profit (Balancing Figure) |
24,105 |
|
|
|
32,405 |
|
32,450 |
|
|
|
|
Answer:
Profit and Loss Account for the year ended March 31, 2016 |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Rent |
5,000 |
Gross Profit |
1,20,000 |
Salary |
35,000 |
Interest Received |
8,000 |
Commission Paid |
19,000 |
Discount Received |
6,000 |
Interest on Loan |
5,000 |
|
|
Advertisement |
8,000 |
|
|
Printing and Stationery |
4,000 |
|
|
Legal Charges |
10,000 |
|
|
Bad Debts |
2,000 |
|
|
Loss by Fire |
6,000 |
|
|
Depreciation |
4,000 |
|
|
Net Profit (Balancing Figure) |
36,000 |
|
|
|
1,34,000 |
|
1,34,000 |
|
|
|
|
Page No 18.36:
Question 7:
Profit and Loss Account for the year ended March 31, 2016 |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Rent |
5,000 |
Gross Profit |
1,20,000 |
Salary |
35,000 |
Interest Received |
8,000 |
Commission Paid |
19,000 |
Discount Received |
6,000 |
Interest on Loan |
5,000 |
|
|
Advertisement |
8,000 |
|
|
Printing and Stationery |
4,000 |
|
|
Legal Charges |
10,000 |
|
|
Bad Debts |
2,000 |
|
|
Loss by Fire |
6,000 |
|
|
Depreciation |
4,000 |
|
|
Net Profit (Balancing Figure) |
36,000 |
|
|
|
1,34,000 |
|
1,34,000 |
|
|
|
|
Answer:
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
40,000 |
|
Plant |
10,000 |
Less: Drawings |
(4,400) |
|
Furniture |
3,700 |
Add: Net Profit |
1,660 |
37,260 |
Closing Stock |
14,800 |
General Reserve |
1,000 |
Debtors |
6,400 |
|
Creditors |
4,200 |
Cash at Bank |
7,200 |
|
|
|
Cash in Hand |
360 |
|
|
42,460 |
|
42,460 |
|
|
|
|
|
Page No 18.36:
Question 8:
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
40,000 |
|
Plant |
10,000 |
Less: Drawings |
(4,400) |
|
Furniture |
3,700 |
Add: Net Profit |
1,660 |
37,260 |
Closing Stock |
14,800 |
General Reserve |
1,000 |
Debtors |
6,400 |
|
Creditors |
4,200 |
Cash at Bank |
7,200 |
|
|
|
Cash in Hand |
360 |
|
|
42,460 |
|
42,460 |
|
|
|
|
|
Answer:
(I) Balance Sheet in Order of Permanence
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital |
1,80,000 |
|
Goodwill |
20,000 |
|
Less: Drawings |
(30,000) |
|
Land and Building |
60,000 |
|
Add: Net Profit |
92,600 |
2,42,600 |
Plant and Machinery |
40,000 |
|
Sundry Creditors |
63,000 |
Furniture |
16,000 |
||
Bills Payable |
10,700 |
Investment |
20,000 |
||
Liabilities for Expenses |
1,200 |
Closing Stock |
80,000 |
||
|
|
Sundry Debtors |
50,000 |
|
|
|
|
Less: Provision for Doubtful Debts |
(2,500) |
47,500 |
|
|
|
Bill Receivable |
13,000 |
||
|
|
Bank |
20,000 |
||
|
|
Cash in Hand |
1,000 |
||
|
3,17,500 |
|
3,17,500 |
||
|
|
|
|
(II) Balance Sheet in Order of Liquidity
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Liabilities for Expenses |
1,200 |
Cash in Hand |
1,000 |
||
Bills Payable |
10,700 |
Bank |
20,000 |
||
Sundry Creditors |
63,000 |
Bills Receivable |
13,000 |
||
Capital |
1,80,000 |
|
Sundry Debtors |
50,000 |
|
Less: Drawings |
(30,000) |
|
Less: Provision for Doubtful Debts |
(2,500) |
47,500 |
Add: Net Profit |
92,600 |
2,42,600 |
Closing Stock |
80,000 |
|
|
|
Investment |
20,000 |
||
|
|
Furniture |
16,000 |
||
|
|
Plant and Machinery |
40,000 |
||
|
|
Land and Building |
60,000 |
||
|
|
Good will |
20,000 |
||
|
3,17,500 |
|
3,17,500 |
||
|
|
|
|
Page No 18.37:
Question 9:
(I) Balance Sheet in Order of Permanence
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital |
1,80,000 |
|
Goodwill |
20,000 |
|
Less: Drawings |
(30,000) |
|
Land and Building |
60,000 |
|
Add: Net Profit |
92,600 |
2,42,600 |
Plant and Machinery |
40,000 |
|
Sundry Creditors |
63,000 |
Furniture |
16,000 |
||
Bills Payable |
10,700 |
Investment |
20,000 |
||
Liabilities for Expenses |
1,200 |
Closing Stock |
80,000 |
||
|
|
Sundry Debtors |
50,000 |
|
|
|
|
Less: Provision for Doubtful Debts |
(2,500) |
47,500 |
|
|
|
Bill Receivable |
13,000 |
||
|
|
Bank |
20,000 |
||
|
|
Cash in Hand |
1,000 |
||
|
3,17,500 |
|
3,17,500 |
||
|
|
|
|
(II) Balance Sheet in Order of Liquidity
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Liabilities for Expenses |
1,200 |
Cash in Hand |
1,000 |
||
Bills Payable |
10,700 |
Bank |
20,000 |
||
Sundry Creditors |
63,000 |
Bills Receivable |
13,000 |
||
Capital |
1,80,000 |
|
Sundry Debtors |
50,000 |
|
Less: Drawings |
(30,000) |
|
Less: Provision for Doubtful Debts |
(2,500) |
47,500 |
Add: Net Profit |
92,600 |
2,42,600 |
Closing Stock |
80,000 |
|
|
|
Investment |
20,000 |
||
|
|
Furniture |
16,000 |
||
|
|
Plant and Machinery |
40,000 |
||
|
|
Land and Building |
60,000 |
||
|
|
Good will |
20,000 |
||
|
3,17,500 |
|
3,17,500 |
||
|
|
|
|
Answer:
Financial Statements of Jagat Shah | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
1,000 |
Sales |
8,200 |
|
|||
Purchases |
4,000 |
|
Less: Sales Return |
(100) |
8,100 |
||
Less: Purchases Return |
(50) |
3,950 |
Closing Stock |
2,000 |
|||
Wages |
1,000 |
|
|
||||
Carriage Inwards |
50 |
|
|
||||
Gross Profit (Balancing Figure) |
4,100 |
|
|
||||
|
10,100 |
|
10,100 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salaries |
600 |
Gross Profit |
4,100 |
||
General Expenses |
200 |
|
|
||
Rent |
500 |
|
|
||
Carriage Outwards |
200 |
|
|
||
Advertising |
200 |
|
|
||
Net Profit (Balancing Figure) |
2,400 |
|
|
||
|
4,100 |
|
4,100 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
3,600 |
|
Fixed Assets |
|
Less: Drawings |
(400) |
|
Machinery |
700 |
Add: Net Profit |
2,400 |
5,600 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
2,000 |
|
Creditors |
500 |
Debtors |
3,000 |
|
|
|
Cash |
400 |
|
|
6,100 |
|
6,100 |
|
|
|
|
|
Page No 18.37:
Question 10:
Financial Statements of Jagat Shah | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
1,000 |
Sales |
8,200 |
|
|||
Purchases |
4,000 |
|
Less: Sales Return |
(100) |
8,100 |
||
Less: Purchases Return |
(50) |
3,950 |
Closing Stock |
2,000 |
|||
Wages |
1,000 |
|
|
||||
Carriage Inwards |
50 |
|
|
||||
Gross Profit (Balancing Figure) |
4,100 |
|
|
||||
|
10,100 |
|
10,100 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salaries |
600 |
Gross Profit |
4,100 |
||
General Expenses |
200 |
|
|
||
Rent |
500 |
|
|
||
Carriage Outwards |
200 |
|
|
||
Advertising |
200 |
|
|
||
Net Profit (Balancing Figure) |
2,400 |
|
|
||
|
4,100 |
|
4,100 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
3,600 |
|
Fixed Assets |
|
Less: Drawings |
(400) |
|
Machinery |
700 |
Add: Net Profit |
2,400 |
5,600 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
2,000 |
|
Creditors |
500 |
Debtors |
3,000 |
|
|
|
Cash |
400 |
|
|
6,100 |
|
6,100 |
|
|
|
|
|
Answer:
Trading Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
20,000 |
Sales |
1,45,000 |
||
Purchases |
95,000 |
Closing Stock |
3,000 |
||
Wages |
50,000 |
Gross Loss (Balancing Figure) |
18,500 |
||
Carriage |
1,500 |
|
|
||
|
1,66,500 |
|
1,66,500 |
||
|
|
|
|
||
Profit and Loss Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Gross Loss |
18,500 |
|
|
||
Rent |
4,500 |
Net Loss (Balancing Figure) |
25,000 |
||
Sundry Expenses |
2,000 |
|
|
||
|
25,000 |
|
25,000 |
||
|
|
|
|
||
Balance Sheet | ||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,00,000 |
|
Fixed Assets |
|
Less: Drawings |
(9,000) |
|
Machinery |
35,000 |
Less: Net Loss |
(25,000) |
66,000 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
3,000 |
|
Creditors |
14,000 |
Debtors |
27,000 |
|
|
|
Bank |
15,000 |
|
|
80,000 |
|
80,000 |
|
|
|
|
|
Page No 18.37:
Question 11:
Trading Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
20,000 |
Sales |
1,45,000 |
||
Purchases |
95,000 |
Closing Stock |
3,000 |
||
Wages |
50,000 |
Gross Loss (Balancing Figure) |
18,500 |
||
Carriage |
1,500 |
|
|
||
|
1,66,500 |
|
1,66,500 |
||
|
|
|
|
||
Profit and Loss Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Gross Loss |
18,500 |
|
|
||
Rent |
4,500 |
Net Loss (Balancing Figure) |
25,000 |
||
Sundry Expenses |
2,000 |
|
|
||
|
25,000 |
|
25,000 |
||
|
|
|
|
||
Balance Sheet | ||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,00,000 |
|
Fixed Assets |
|
Less: Drawings |
(9,000) |
|
Machinery |
35,000 |
Less: Net Loss |
(25,000) |
66,000 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
3,000 |
|
Creditors |
14,000 |
Debtors |
27,000 |
|
|
|
Bank |
15,000 |
|
|
80,000 |
|
80,000 |
|
|
|
|
|
Answer:
Financial Statement of Bhagwan Das | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Stock |
17,600 |
|
|
||||
Purchases |
68,300 |
|
Sales |
92,000 |
|
||
Less: Return Outwards |
(2,200) |
66,100 |
Less: Return Inwards |
(1,300) |
90,700 |
||
Carriage Inwards |
2,400 |
Closing Stock |
24,000 |
||||
Gross Profit (Balancing Figure) |
28,600 |
|
|
||||
|
1,14,700 |
|
1,14,700 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Rent, Rates and Taxes |
2,200 |
Gross Profit |
28,600 |
||
Discount |
3,750 |
|
|
||
Printing |
720 |
|
|
||
Insurance |
500 |
|
|
||
Travelling Expenses |
1,400 |
|
|
||
Postage and Telegram |
620 |
|
|
||
Miscellaneous Expenses |
900 |
|
|
||
Bad Debts |
400 |
|
|
||
Net Profit (Balancing Figure) |
18,110 |
|
|
||
|
28,600 |
|
28,600 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
52,500 |
|
Fixed Assets |
|
Less: Drawings |
(1,910) |
|
Business Premises |
39,000 |
Add: Net Profit |
18,110 |
68,700 |
Office Furniture |
1,500 |
Mata Din Loan |
5,000 |
Current Assets |
|
|
Current Liabilities |
|
Closing Stock |
24,000 |
|
Creditors |
12,800 |
Debtors |
22,000 |
|
|
86,500 |
|
86,500 |
|
|
|
|
|
Page No 18.37:
Question 12:
Financial Statement of Bhagwan Das | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Stock |
17,600 |
|
|
||||
Purchases |
68,300 |
|
Sales |
92,000 |
|
||
Less: Return Outwards |
(2,200) |
66,100 |
Less: Return Inwards |
(1,300) |
90,700 |
||
Carriage Inwards |
2,400 |
Closing Stock |
24,000 |
||||
Gross Profit (Balancing Figure) |
28,600 |
|
|
||||
|
1,14,700 |
|
1,14,700 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Rent, Rates and Taxes |
2,200 |
Gross Profit |
28,600 |
||
Discount |
3,750 |
|
|
||
Printing |
720 |
|
|
||
Insurance |
500 |
|
|
||
Travelling Expenses |
1,400 |
|
|
||
Postage and Telegram |
620 |
|
|
||
Miscellaneous Expenses |
900 |
|
|
||
Bad Debts |
400 |
|
|
||
Net Profit (Balancing Figure) |
18,110 |
|
|
||
|
28,600 |
|
28,600 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
52,500 |
|
Fixed Assets |
|
Less: Drawings |
(1,910) |
|
Business Premises |
39,000 |
Add: Net Profit |
18,110 |
68,700 |
Office Furniture |
1,500 |
Mata Din Loan |
5,000 |
Current Assets |
|
|
Current Liabilities |
|
Closing Stock |
24,000 |
|
Creditors |
12,800 |
Debtors |
22,000 |
|
|
86,500 |
|
86,500 |
|
|
|
|
|
Answer:
Financial Statement of Anand | |||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
9,945 |
Sales |
78,182 |
||
Purchases |
62,092 |
Closing Stock |
14,300 |
||
Wages |
4,300 |
|
|
||
Gross Profit (Balancing Figure) |
16,145 |
|
|
||
|
92,482 |
|
92,482 |
||
|
|
|
|
||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salaries |
4,000 |
Gross Profit |
16,145 |
||
Discount |
1,000 |
|
|
||
Postage |
273 |
|
|
||
Bad Debts |
287 |
|
|
||
Interest |
1,295 |
|
|
||
Insurance |
417 |
|
|
||
Net Profit (Balancing Figure) |
8,873 |
|
|
||
|
16,145 |
|
16,145 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capita |
36,000 |
|
Fixed Assets |
|
Add: Net Profit |
8,873 |
44,873 |
Building |
23,780 |
Loan |
12,000 |
Machinery |
10,000 |
|
Current Liabilities |
|
Fixtures and fittings |
16,155 |
|
Creditors |
8,720 |
Current Assets |
|
|
Bills Payable |
2,527 |
Closing Stock |
14,300 |
|
|
|
Debtors |
3,885 |
|
|
68,120 |
|
68,120 |
|
|
|
|
|
Page No 18.38:
Question 13:
Financial Statement of Anand | |||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
9,945 |
Sales |
78,182 |
||
Purchases |
62,092 |
Closing Stock |
14,300 |
||
Wages |
4,300 |
|
|
||
Gross Profit (Balancing Figure) |
16,145 |
|
|
||
|
92,482 |
|
92,482 |
||
|
|
|
|
||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salaries |
4,000 |
Gross Profit |
16,145 |
||
Discount |
1,000 |
|
|
||
Postage |
273 |
|
|
||
Bad Debts |
287 |
|
|
||
Interest |
1,295 |
|
|
||
Insurance |
417 |
|
|
||
Net Profit (Balancing Figure) |
8,873 |
|
|
||
|
16,145 |
|
16,145 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capita |
36,000 |
|
Fixed Assets |
|
Add: Net Profit |
8,873 |
44,873 |
Building |
23,780 |
Loan |
12,000 |
Machinery |
10,000 |
|
Current Liabilities |
|
Fixtures and fittings |
16,155 |
|
Creditors |
8,720 |
Current Assets |
|
|
Bills Payable |
2,527 |
Closing Stock |
14,300 |
|
|
|
Debtors |
3,885 |
|
|
68,120 |
|
68,120 |
|
|
|
|
|
Answer:
Financial Statement of Messers Gupta and Sons | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
2,720 |
Sales |
12,439 |
|
|||
Purchases |
10,492 |
|
Less: Return Inwards |
(1,000) |
11,439 |
||
Less: Return Outwards |
(1,200) |
9,292 |
Closing Stock |
7,929 |
|||
Carriage |
400 |
|
|
||||
Wages |
1,510 |
|
|
||||
Gross Profit (Balancing Figure) |
5,446 |
|
|
||||
|
19,368 |
|
19,368 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Insurance |
119 |
Gross Profit |
5,446 |
||
Postage |
132 |
Commission |
390 |
||
Salaries |
1,400 |
Discount |
627 |
||
Depreciation |
600 |
|
|
||
Net Profit (Balancing Figure) |
4,212 |
|
|
||
|
6,463 |
|
6,463 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
18,000 |
|
Fixed Assets |
|
Add: Net Profit |
4,212 |
22,212 |
Building |
5,290 |
|
|
Machinery |
6,710 |
|
Current Liabilities |
|
Current Assets |
|
|
Creditors |
7,581 |
Closing Stock |
7,929 |
|
Bills Payable |
4,827 |
Debtors |
8,100 |
|
|
|
Bills Receivable |
3,291 |
|
|
|
Cash bank |
1,900 |
|
|
|
Cash in Hand |
1,400 |
|
|
34,620 |
|
34,620 |
|
|
|
|
|
Page No 18.38:
Question 14:
Financial Statement of Messers Gupta and Sons | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
2,720 |
Sales |
12,439 |
|
|||
Purchases |
10,492 |
|
Less: Return Inwards |
(1,000) |
11,439 |
||
Less: Return Outwards |
(1,200) |
9,292 |
Closing Stock |
7,929 |
|||
Carriage |
400 |
|
|
||||
Wages |
1,510 |
|
|
||||
Gross Profit (Balancing Figure) |
5,446 |
|
|
||||
|
19,368 |
|
19,368 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Insurance |
119 |
Gross Profit |
5,446 |
||
Postage |
132 |
Commission |
390 |
||
Salaries |
1,400 |
Discount |
627 |
||
Depreciation |
600 |
|
|
||
Net Profit (Balancing Figure) |
4,212 |
|
|
||
|
6,463 |
|
6,463 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
18,000 |
|
Fixed Assets |
|
Add: Net Profit |
4,212 |
22,212 |
Building |
5,290 |
|
|
Machinery |
6,710 |
|
Current Liabilities |
|
Current Assets |
|
|
Creditors |
7,581 |
Closing Stock |
7,929 |
|
Bills Payable |
4,827 |
Debtors |
8,100 |
|
|
|
Bills Receivable |
3,291 |
|
|
|
Cash bank |
1,900 |
|
|
|
Cash in Hand |
1,400 |
|
|
34,620 |
|
34,620 |
|
|
|
|
|
Answer:
Financial Statement of M/s. Raja & Sons | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
29,500 |
Sales |
1,47,200 |
|
|||
Purchases |
84,170 |
|
Less: Sales Return |
(4,700) |
1,42,500 |
||
Less: Purchases Return |
(3,900) |
80,270 |
Closing Stock |
36,200 |
|||
Carriage |
2,200 |
|
|
||||
Wages |
45,000 |
|
|
||||
Gross Profit (Balancing Figure) |
21,730 |
|
|
||||
|
1,78,700 |
|
1,78,700 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salary |
5,400 |
Gross Profit |
21,730 |
||
Insurance |
2,500 |
Rent Received |
3,150 |
||
Trade Expenses |
4,900 |
|
|
||
Net profit (Balancing Figure) |
12,080 |
|
|
||
|
24,880 |
|
24,880 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
58,900 |
|
Fixed Assets |
|
Add: Net Profit |
12,080 |
|
Machinery |
12,000 |
Less: Drawings |
(2,100) |
68,880 |
|
|
Current Liabilities |
|
Current Assets |
|
|
Creditors |
4,200 |
Closing Stock |
36,200 |
|
Bank Overdraft |
9,700 |
Debtors |
38,080 |
|
Bills Payable |
3,900 |
Cash |
400 |
|
|
86,680 |
|
86,680 |
|
|
|
|
|
Page No 18.38:
Question 15:
Financial Statement of M/s. Raja & Sons | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
29,500 |
Sales |
1,47,200 |
|
|||
Purchases |
84,170 |
|
Less: Sales Return |
(4,700) |
1,42,500 |
||
Less: Purchases Return |
(3,900) |
80,270 |
Closing Stock |
36,200 |
|||
Carriage |
2,200 |
|
|
||||
Wages |
45,000 |
|
|
||||
Gross Profit (Balancing Figure) |
21,730 |
|
|
||||
|
1,78,700 |
|
1,78,700 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salary |
5,400 |
Gross Profit |
21,730 |
||
Insurance |
2,500 |
Rent Received |
3,150 |
||
Trade Expenses |
4,900 |
|
|
||
Net profit (Balancing Figure) |
12,080 |
|
|
||
|
24,880 |
|
24,880 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
58,900 |
|
Fixed Assets |
|
Add: Net Profit |
12,080 |
|
Machinery |
12,000 |
Less: Drawings |
(2,100) |
68,880 |
|
|
Current Liabilities |
|
Current Assets |
|
|
Creditors |
4,200 |
Closing Stock |
36,200 |
|
Bank Overdraft |
9,700 |
Debtors |
38,080 |
|
Bills Payable |
3,900 |
Cash |
400 |
|
|
86,680 |
|
86,680 |
|
|
|
|
|
Answer:
Financial Statement of M/s. Mangal & Sons | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
12,500 |
Sales |
70,000 |
|
|||
Purchases |
37,500 |
|
Less: Return Inwards |
(1,300) |
68,700 |
||
Less: Return Outwards |
(500) |
37,000 |
Closing Stock |
15,000 |
|||
Carriage |
1,450 |
|
|
||||
Gross Profit (Balancing Figure) |
32,750 |
|
|
||||
|
83,700 |
|
83,700 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salary |
3,850 |
Gross Profit |
32,750 |
||
Insurance |
200 |
|
|
||
Commission |
750 |
|
|
||
Interest |
900 |
|
|
||
Printing |
250 |
|
|
||
Rent and Taxes |
1,300 |
|
|
||
Net Profit (Balancing Figure) |
25,500 |
|
|
||
|
32,750 |
|
32,750 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
7,100 |
|
Fixed Assets |
|
Add: Net Profit |
25,500 |
32,600 |
Furniture |
1,000 |
Current Liabilities |
|
Current Assets |
|
|
Creditors |
20,000 |
Closing Stock |
15,000 |
|
Bills Payable |
3,150 |
Debtors |
32,500 |
|
|
|
Bills Receivable |
2,000 |
|
|
|
Bank |
5,250 |
|
|
55,750 |
|
55,750 |
|
|
|
|
|
Page No 18.38:
Question 16:
Financial Statement of M/s. Mangal & Sons | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
12,500 |
Sales |
70,000 |
|
|||
Purchases |
37,500 |
|
Less: Return Inwards |
(1,300) |
68,700 |
||
Less: Return Outwards |
(500) |
37,000 |
Closing Stock |
15,000 |
|||
Carriage |
1,450 |
|
|
||||
Gross Profit (Balancing Figure) |
32,750 |
|
|
||||
|
83,700 |
|
83,700 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salary |
3,850 |
Gross Profit |
32,750 |
||
Insurance |
200 |
|
|
||
Commission |
750 |
|
|
||
Interest |
900 |
|
|
||
Printing |
250 |
|
|
||
Rent and Taxes |
1,300 |
|
|
||
Net Profit (Balancing Figure) |
25,500 |
|
|
||
|
32,750 |
|
32,750 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
7,100 |
|
Fixed Assets |
|
Add: Net Profit |
25,500 |
32,600 |
Furniture |
1,000 |
Current Liabilities |
|
Current Assets |
|
|
Creditors |
20,000 |
Closing Stock |
15,000 |
|
Bills Payable |
3,150 |
Debtors |
32,500 |
|
|
|
Bills Receivable |
2,000 |
|
|
|
Bank |
5,250 |
|
|
55,750 |
|
55,750 |
|
|
|
|
|
Answer:
Trading Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
20,000 |
Sales |
1,45,000 |
||
Purchases |
95,000 |
Closing Stock |
6,000 |
||
Wages |
50,000 |
Gross Loss (Balancing Figure) |
15,500 |
||
Carriage |
1,500 |
|
|
||
|
1,66,500 |
|
1,66,500 |
||
|
|
|
|
||
Profit and Loss Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Gross Loss |
15,500 |
|
|
||
Rent |
4,500 |
Net Loss (Balancing Figure) |
22,000 |
||
Sundry Expenses |
2,000 |
|
|
||
|
22,000 |
|
22,000 |
||
|
|
|
|
||
Balance Sheet | ||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,00,000 |
|
Fixed Assets |
|
Less: Net Loss |
(22,000) |
|
Machinery |
35,000 |
Less: Drawings |
(9,000) |
69,000 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
6,000 |
|
Creditors |
14,000 |
Debtors |
27,000 |
|
|
|
Bank |
15,000 |
|
|
83,000 |
|
83,000 |
|
|
|
|
|
Page No 18.38:
Question 17:
Trading Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
20,000 |
Sales |
1,45,000 |
||
Purchases |
95,000 |
Closing Stock |
6,000 |
||
Wages |
50,000 |
Gross Loss (Balancing Figure) |
15,500 |
||
Carriage |
1,500 |
|
|
||
|
1,66,500 |
|
1,66,500 |
||
|
|
|
|
||
Profit and Loss Account | |||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Gross Loss |
15,500 |
|
|
||
Rent |
4,500 |
Net Loss (Balancing Figure) |
22,000 |
||
Sundry Expenses |
2,000 |
|
|
||
|
22,000 |
|
22,000 |
||
|
|
|
|
||
Balance Sheet | ||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,00,000 |
|
Fixed Assets |
|
Less: Net Loss |
(22,000) |
|
Machinery |
35,000 |
Less: Drawings |
(9,000) |
69,000 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
6,000 |
|
Creditors |
14,000 |
Debtors |
27,000 |
|
|
|
Bank |
15,000 |
|
|
83,000 |
|
83,000 |
|
|
|
|
|
Answer:
Financial Statement of Hari & Co. | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
1,65,000 |
Sales |
6,35,000 |
|
|||
Purchases |
4,68,500 |
|
Less: Return Inwards |
(4,500) |
6,30,500 |
||
Less: Return Outwards |
(1,100) |
4,67,400 |
Closing Stock |
1,82,100 |
|||
Wages |
25,000 |
|
|
||||
Carriage Inwards |
8,500 |
|
|
||||
Gross Profit (Balancing Figure) |
1,46,700 |
|
|
||||
|
8,12,600 |
|
8,12,600 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
General Expenses |
8,000 |
|
|
||
Rent Paid |
37,100 |
Gross Profit |
1,46,700 |
||
Electricity Charges |
1,900 |
|
|
||
Salaries |
11,100 |
|
|
||
Discount Allowed |
2,000 |
|
|
||
Net Profit (Balancing Figure) |
86,600 |
|
|
||
|
1,46,700 |
|
1,46,700 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
3,50,000 |
|
Fixed Assets |
|
Add: Net Profit |
86,600 |
|
Building |
1,87,500 |
Less: Drawings |
(6,500) |
4,30,100 |
Machinery |
92,500 |
Current Liabilities |
|
Current Assets |
|
|
Sundry Creditors |
1,00,000 |
Closing Stock |
1,82,100 |
|
Bills Payable |
50,000 |
Debtors |
70,000 |
|
|
|
Cash at bank |
30,000 |
|
|
|
Cash in Hand |
18,000 |
|
|
5,80,100 |
|
5,80,100 |
|
|
|
|
|
Page No 18.39:
Question 18:
Financial Statement of Hari & Co. | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
1,65,000 |
Sales |
6,35,000 |
|
|||
Purchases |
4,68,500 |
|
Less: Return Inwards |
(4,500) |
6,30,500 |
||
Less: Return Outwards |
(1,100) |
4,67,400 |
Closing Stock |
1,82,100 |
|||
Wages |
25,000 |
|
|
||||
Carriage Inwards |
8,500 |
|
|
||||
Gross Profit (Balancing Figure) |
1,46,700 |
|
|
||||
|
8,12,600 |
|
8,12,600 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
General Expenses |
8,000 |
|
|
||
Rent Paid |
37,100 |
Gross Profit |
1,46,700 |
||
Electricity Charges |
1,900 |
|
|
||
Salaries |
11,100 |
|
|
||
Discount Allowed |
2,000 |
|
|
||
Net Profit (Balancing Figure) |
86,600 |
|
|
||
|
1,46,700 |
|
1,46,700 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
3,50,000 |
|
Fixed Assets |
|
Add: Net Profit |
86,600 |
|
Building |
1,87,500 |
Less: Drawings |
(6,500) |
4,30,100 |
Machinery |
92,500 |
Current Liabilities |
|
Current Assets |
|
|
Sundry Creditors |
1,00,000 |
Closing Stock |
1,82,100 |
|
Bills Payable |
50,000 |
Debtors |
70,000 |
|
|
|
Cash at bank |
30,000 |
|
|
|
Cash in Hand |
18,000 |
|
|
5,80,100 |
|
5,80,100 |
|
|
|
|
|
Answer:
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
2,000 |
Sales |
16,400 |
|
|||
Purchases |
10,500 |
|
Less: Return Inwards |
(400) |
16,000 |
||
Less: Return Outwards |
(500) |
10,000 |
Closing Stock |
1,450 |
|||
Wages |
5,000 |
Gross Loss (Balancing Figure) |
500 |
||||
Manufacturing Expenses |
800 |
|
|
||||
Carriage |
150 |
|
|
||||
|
17,950 |
|
17,950 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Gross Loss |
500 |
|
|
||
Repairs |
50 |
|
|
||
Rent |
400 |
|
|
||
Trade Expenses |
700 |
Net Loss (Balancing Figure) |
1,850 |
||
Bad Debts |
200 |
|
|
||
|
1,850 |
|
1,850 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
10,000 |
|
Fixed Assets |
|
Less: Drawings |
(1,200) |
|
Plant and Machinery |
4,000 |
Less: Net Loss |
(1,850) |
6,950 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
1,450 |
|
Sundry Creditors |
1,200 |
Sundry Debtors |
2,400 |
|
Bills Payable |
700 |
Bank |
1,000 |
|
|
8,850 |
|
8,850 |
|
|
|
|
|
Page No 18.39:
Question 19:
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
2,000 |
Sales |
16,400 |
|
|||
Purchases |
10,500 |
|
Less: Return Inwards |
(400) |
16,000 |
||
Less: Return Outwards |
(500) |
10,000 |
Closing Stock |
1,450 |
|||
Wages |
5,000 |
Gross Loss (Balancing Figure) |
500 |
||||
Manufacturing Expenses |
800 |
|
|
||||
Carriage |
150 |
|
|
||||
|
17,950 |
|
17,950 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Gross Loss |
500 |
|
|
||
Repairs |
50 |
|
|
||
Rent |
400 |
|
|
||
Trade Expenses |
700 |
Net Loss (Balancing Figure) |
1,850 |
||
Bad Debts |
200 |
|
|
||
|
1,850 |
|
1,850 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
10,000 |
|
Fixed Assets |
|
Less: Drawings |
(1,200) |
|
Plant and Machinery |
4,000 |
Less: Net Loss |
(1,850) |
6,950 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
1,450 |
|
Sundry Creditors |
1,200 |
Sundry Debtors |
2,400 |
|
Bills Payable |
700 |
Bank |
1,000 |
|
|
8,850 |
|
8,850 |
|
|
|
|
|
Answer:
Financial Statement of Chatter Sen | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
40,000 |
Sales |
1,27,000 |
|
|||
Purchases |
58,000 |
|
Less: Sales Return |
(1,000) |
1,26,000 |
||
Less: Purchases Return |
(1,275) |
56,725 |
Closing Stock |
35,000 |
|||
Wages |
10,000 |
|
|
||||
Freight Inwards |
750 |
|
|
||||
Gross Profit (Balancing Figure) |
53,525 |
|
|
||||
|
1,61,000 |
|
1,61,000 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Discount Allowed |
350 |
Gross Profit |
53,525 |
||
Bank Charges |
75 |
Discount Received |
800 |
||
Salaries |
6,800 |
|
|
||
Freight Outwards |
1,200 |
|
|
||
Rent, Rates and Taxes |
2,000 |
|
|
||
Advertisement |
2,000 |
|
|
||
Net Profit (Balancing Figure) |
41,900 |
|
|
||
|
54,325 |
|
54,325 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,10,000 |
|
Fixed Assets |
|
Add: Net Profit |
41,900 |
1,51,900 |
Plant and Machinery |
90,000 |
Current Liabilities |
|
Current Assets |
|
|
Sundry Creditors |
25,000 |
Closing Stock |
35,000 |
|
|
|
Sundry Debtors |
45,000 |
|
|
|
Cash at Bank |
6,900 |
|
|
1,76,900 |
|
1,76,900 |
|
|
|
|
|
Page No 18.39:
Question 20:
Financial Statement of Chatter Sen | |||||||
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
40,000 |
Sales |
1,27,000 |
|
|||
Purchases |
58,000 |
|
Less: Sales Return |
(1,000) |
1,26,000 |
||
Less: Purchases Return |
(1,275) |
56,725 |
Closing Stock |
35,000 |
|||
Wages |
10,000 |
|
|
||||
Freight Inwards |
750 |
|
|
||||
Gross Profit (Balancing Figure) |
53,525 |
|
|
||||
|
1,61,000 |
|
1,61,000 |
||||
|
|
|
|
||||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Discount Allowed |
350 |
Gross Profit |
53,525 |
||
Bank Charges |
75 |
Discount Received |
800 |
||
Salaries |
6,800 |
|
|
||
Freight Outwards |
1,200 |
|
|
||
Rent, Rates and Taxes |
2,000 |
|
|
||
Advertisement |
2,000 |
|
|
||
Net Profit (Balancing Figure) |
41,900 |
|
|
||
|
54,325 |
|
54,325 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,10,000 |
|
Fixed Assets |
|
Add: Net Profit |
41,900 |
1,51,900 |
Plant and Machinery |
90,000 |
Current Liabilities |
|
Current Assets |
|
|
Sundry Creditors |
25,000 |
Closing Stock |
35,000 |
|
|
|
Sundry Debtors |
45,000 |
|
|
|
Cash at Bank |
6,900 |
|
|
1,76,900 |
|
1,76,900 |
|
|
|
|
|
Answer:
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
3,460 |
Sales |
15,450 |
|
|||
Purchases |
5,575 |
|
Less: Sales Return |
(200) |
15,250 |
||
Less: Purchases Return |
(125) |
5,450 |
Closing Stock |
3,250 |
|||
Gross Profit (Balancing Figure) |
9,590 |
|
|
||||
|
18,500 |
|
18,500 |
||||
|
|
|
|
||||
Profit And Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Taxes and Insurance |
1,250 |
Gross Profit |
9,590 |
||
General Charges |
782 |
Commission |
175 |
||
Salaries |
3,300 |
|
|
||
Bad Debts |
125 |
|
|
||
Advertising |
450 |
|
|
||
Interest |
118 |
|
|
||
Net Profit (Balancing Figure) |
3,740 |
|
|
||
|
9,765 |
|
9,765 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
12,890 |
|
Fixed Assets |
|
Add: Net Profit |
3,740 |
16,630 |
Building |
7,590 |
Current Liabilities |
|
Furniture and Fittings |
640 |
|
Sundry Creditors |
2,500 |
Motor Vehicles |
6,250 |
|
Bank Overdraft |
2,850 |
Current Assets |
|
|
Bills Payable |
200 |
Closing Stock |
3,250 |
|
|
|
Sundry Debtors |
3,800 |
|
|
|
Cash in Hand |
650 |
|
|
22,180 |
|
22,180 |
|
|
|
|
|
Page No 18.39:
Question 21:
Trading Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||||
Opening Stock |
3,460 |
Sales |
15,450 |
|
|||
Purchases |
5,575 |
|
Less: Sales Return |
(200) |
15,250 |
||
Less: Purchases Return |
(125) |
5,450 |
Closing Stock |
3,250 |
|||
Gross Profit (Balancing Figure) |
9,590 |
|
|
||||
|
18,500 |
|
18,500 |
||||
|
|
|
|
||||
Profit And Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Taxes and Insurance |
1,250 |
Gross Profit |
9,590 |
||
General Charges |
782 |
Commission |
175 |
||
Salaries |
3,300 |
|
|
||
Bad Debts |
125 |
|
|
||
Advertising |
450 |
|
|
||
Interest |
118 |
|
|
||
Net Profit (Balancing Figure) |
3,740 |
|
|
||
|
9,765 |
|
9,765 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
12,890 |
|
Fixed Assets |
|
Add: Net Profit |
3,740 |
16,630 |
Building |
7,590 |
Current Liabilities |
|
Furniture and Fittings |
640 |
|
Sundry Creditors |
2,500 |
Motor Vehicles |
6,250 |
|
Bank Overdraft |
2,850 |
Current Assets |
|
|
Bills Payable |
200 |
Closing Stock |
3,250 |
|
|
|
Sundry Debtors |
3,800 |
|
|
|
Cash in Hand |
650 |
|
|
22,180 |
|
22,180 |
|
|
|
|
|
Answer:
Financial Statement of Harish Chandra | |||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
16,200 |
Sales |
65,360 |
||
Purchases |
47,000 |
Closing Stock |
23,500 |
||
Power |
2,240 |
|
|
||
Wages |
7,200 |
|
|
||
Gross Profit (Balancing Figure) |
16,220 |
|
|
||
|
88,860 |
|
88,860 |
||
|
|
|
|
||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
General Expenses |
2,500 |
Gross Profit |
16,220 |
||
Taxes and Insurance |
1,315 |
Commission |
1,320 |
||
Bad Debts |
550 |
|
|
||
Car Expenses |
1,800 |
|
|
||
Charity |
105 |
|
|
||
Net Profit (Balancing Figure) |
11,270 |
|
|
||
|
17,540 |
|
17,540 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
24,500 |
|
Fixed Assets |
|
Add: Net Profit |
11,270 |
|
Building |
11,000 |
Less: Drawings |
(2,000) |
33,770 |
Machinery |
9,340 |
Reserve Fund |
900 |
Motor Car |
2,000 |
|
Loan |
7,880 |
Current Assets |
|
|
Current Liabilities |
|
Closing Stock |
23,500 |
|
Bank Overdraft |
3,300 |
Debtors |
6,280 |
|
Bills Payable |
3,850 |
Cash |
80 |
|
Creditors |
2,500 |
|
|
|
|
52,200 |
|
52,200 |
|
|
|
|
|
Page No 18.40:
Question 22:
Financial Statement of Harish Chandra | |||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
16,200 |
Sales |
65,360 |
||
Purchases |
47,000 |
Closing Stock |
23,500 |
||
Power |
2,240 |
|
|
||
Wages |
7,200 |
|
|
||
Gross Profit (Balancing Figure) |
16,220 |
|
|
||
|
88,860 |
|
88,860 |
||
|
|
|
|
||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
General Expenses |
2,500 |
Gross Profit |
16,220 |
||
Taxes and Insurance |
1,315 |
Commission |
1,320 |
||
Bad Debts |
550 |
|
|
||
Car Expenses |
1,800 |
|
|
||
Charity |
105 |
|
|
||
Net Profit (Balancing Figure) |
11,270 |
|
|
||
|
17,540 |
|
17,540 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
24,500 |
|
Fixed Assets |
|
Add: Net Profit |
11,270 |
|
Building |
11,000 |
Less: Drawings |
(2,000) |
33,770 |
Machinery |
9,340 |
Reserve Fund |
900 |
Motor Car |
2,000 |
|
Loan |
7,880 |
Current Assets |
|
|
Current Liabilities |
|
Closing Stock |
23,500 |
|
Bank Overdraft |
3,300 |
Debtors |
6,280 |
|
Bills Payable |
3,850 |
Cash |
80 |
|
Creditors |
2,500 |
|
|
|
|
52,200 |
|
52,200 |
|
|
|
|
|
Answer:
Financial Statement of Mr. Gaurav | |||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Purchases |
56,500 |
Sales |
1,00,700 |
||
Wages |
26,000 |
Closing Stock |
88,500 |
||
Gross Profit (Balancing Figure) |
1,06,700 |
|
|
||
|
1,89,200 |
|
1,89,200 |
||
|
|
|
|
||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salaries and Wages |
41,600 |
Gross Profit |
1,06,700 |
||
Net Profit (Balancing Figure) |
65,100 |
|
|
||
|
1,06,700 |
|
1,06,700 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
2,23,100 |
|
Fixed Assets |
|
Add: Net Profit |
65,100 |
|
Building |
1,60,000 |
Less: Drawings |
(500) |
|
Machinery |
16,000 |
Less: Income Tax |
(2,000) |
2,85,700 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
88,500 |
|
Creditors |
12,500 |
Debtors |
33,700 |
|
|
2,98,200 |
|
2,98,200 |
|
|
|
|
|
Note: Closing Stock has been taken at its Market Price (i.e. Rs 88,500) and not on its Cost. This is because, as per the Principle of Conservatism, Closing Stock is taken at Cost or Market Price whichever is less.
Page No 18.40:
Question 23:
Financial Statement of Mr. Gaurav | |||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Purchases |
56,500 |
Sales |
1,00,700 |
||
Wages |
26,000 |
Closing Stock |
88,500 |
||
Gross Profit (Balancing Figure) |
1,06,700 |
|
|
||
|
1,89,200 |
|
1,89,200 |
||
|
|
|
|
||
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Salaries and Wages |
41,600 |
Gross Profit |
1,06,700 |
||
Net Profit (Balancing Figure) |
65,100 |
|
|
||
|
1,06,700 |
|
1,06,700 |
||
|
|
|
|
||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
2,23,100 |
|
Fixed Assets |
|
Add: Net Profit |
65,100 |
|
Building |
1,60,000 |
Less: Drawings |
(500) |
|
Machinery |
16,000 |
Less: Income Tax |
(2,000) |
2,85,700 |
Current Assets |
|
Current Liabilities |
|
Closing Stock |
88,500 |
|
Creditors |
12,500 |
Debtors |
33,700 |
|
|
2,98,200 |
|
2,98,200 |
|
|
|
|
|
Note: Closing Stock has been taken at its Market Price (i.e. Rs 88,500) and not on its Cost. This is because, as per the Principle of Conservatism, Closing Stock is taken at Cost or Market Price whichever is less.
Answer:
Trial Balance for the year ending March 31, 2016 |
||||
S.No. |
Particulars |
L.F. |
Debit Column |
Credit Column |
|
Capital |
|
|
1,19,400 |
|
Bills Receivable |
|
9,500 |
|
|
Wages |
|
40,970 |
|
|
Sundry Debtors |
|
62,000 |
|
|
Loan Received (Cr.) |
|
|
20,000 |
|
Purchases |
|
2,56,590 |
|
|
Commission Received |
|
|
5,640 |
|
Rent and Taxes |
|
5,620 |
|
|
Travelling Expenses |
|
1,880 |
|
|
Cash |
|
530 |
|
|
Repairs and Renewals |
|
3,370 |
|
|
Furniture and Fittings |
|
8,970 |
|
|
Drawings |
|
10,550 |
|
|
Plant and Machinery |
|
28,800 |
|
|
Salaries |
|
11,000 |
|
|
Sundry Creditors |
|
|
59,630 |
|
Returns Inward |
|
2,780 |
|
|
Sales |
|
|
3,56,430 |
|
Discount Allowed |
|
5,870 |
|
|
Opening Stock |
|
89,680 |
|
|
Insurance |
|
400 |
|
|
Bank (Debit Balance) |
|
18,970 |
|
|
Bad Debts |
|
3,620 |
|
|
Total |
|
5,61,100 |
5,61,100 |
|
|
|
|
|
Trading Account for the year ending March 31, 2016 |
||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
|
Opening Stock |
89,680 |
Sales |
3,56,430 |
|
Purchases |
2,56,590 |
Less: Returns Inward |
2,780 |
3,53,650 |
Wages |
40,970 |
Closing Stock |
1,28,960 |
|
Gross Profit (Balancing Figure) |
95,370 |
|
|
|
|
4,82,610 |
|
4,82,610 |
|
|
|
|
|
Profit and Loss Account for the year ending March 31, 2016 |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Rent and Taxes |
5,620 |
Gross Profit |
95,370 |
Travelling Expenses |
1,880 |
Commission Received |
5,640 |
Repairs and Renewals |
3,370 |
|
|
Salaries |
11,000 |
|
|
Insurance |
400 |
|
|
Bad Debts |
3,620 |
|
|
Discount Allowed |
5,870 |
|
|
Net Profit (Balancing Figure) |
69,250 |
|
|
|
1,01,010 |
|
1,01,010 |
|
|
|
|
Balance Sheet for the year ending March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,19,400 |
|
Plant and Machinery |
28,800 |
Less: Drawings |
10,550 |
|
Furniture and Fittings |
8,970 |
Add: Net Profit |
69,250 |
1,78,100 |
Bills Receivable |
9,500 |
Loan |
20,000 |
Sundry Debtors |
62,000 |
|
Sundry Creditors |
59,630 |
Cash |
530 |
|
|
|
Bank |
18,970 |
|
|
|
Closing Stock |
1,28,960 |
|
|
2,57,730 |
|
2,57,730 |
|
|
|
|
|
Page No 18.40:
Question 24:
Trial Balance for the year ending March 31, 2016 |
||||
S.No. |
Particulars |
L.F. |
Debit Column |
Credit Column |
|
Capital |
|
|
1,19,400 |
|
Bills Receivable |
|
9,500 |
|
|
Wages |
|
40,970 |
|
|
Sundry Debtors |
|
62,000 |
|
|
Loan Received (Cr.) |
|
|
20,000 |
|
Purchases |
|
2,56,590 |
|
|
Commission Received |
|
|
5,640 |
|
Rent and Taxes |
|
5,620 |
|
|
Travelling Expenses |
|
1,880 |
|
|
Cash |
|
530 |
|
|
Repairs and Renewals |
|
3,370 |
|
|
Furniture and Fittings |
|
8,970 |
|
|
Drawings |
|
10,550 |
|
|
Plant and Machinery |
|
28,800 |
|
|
Salaries |
|
11,000 |
|
|
Sundry Creditors |
|
|
59,630 |
|
Returns Inward |
|
2,780 |
|
|
Sales |
|
|
3,56,430 |
|
Discount Allowed |
|
5,870 |
|
|
Opening Stock |
|
89,680 |
|
|
Insurance |
|
400 |
|
|
Bank (Debit Balance) |
|
18,970 |
|
|
Bad Debts |
|
3,620 |
|
|
Total |
|
5,61,100 |
5,61,100 |
|
|
|
|
|
Trading Account for the year ending March 31, 2016 |
||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
|
Opening Stock |
89,680 |
Sales |
3,56,430 |
|
Purchases |
2,56,590 |
Less: Returns Inward |
2,780 |
3,53,650 |
Wages |
40,970 |
Closing Stock |
1,28,960 |
|
Gross Profit (Balancing Figure) |
95,370 |
|
|
|
|
4,82,610 |
|
4,82,610 |
|
|
|
|
|
Profit and Loss Account for the year ending March 31, 2016 |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Rent and Taxes |
5,620 |
Gross Profit |
95,370 |
Travelling Expenses |
1,880 |
Commission Received |
5,640 |
Repairs and Renewals |
3,370 |
|
|
Salaries |
11,000 |
|
|
Insurance |
400 |
|
|
Bad Debts |
3,620 |
|
|
Discount Allowed |
5,870 |
|
|
Net Profit (Balancing Figure) |
69,250 |
|
|
|
1,01,010 |
|
1,01,010 |
|
|
|
|
Balance Sheet for the year ending March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
1,19,400 |
|
Plant and Machinery |
28,800 |
Less: Drawings |
10,550 |
|
Furniture and Fittings |
8,970 |
Add: Net Profit |
69,250 |
1,78,100 |
Bills Receivable |
9,500 |
Loan |
20,000 |
Sundry Debtors |
62,000 |
|
Sundry Creditors |
59,630 |
Cash |
530 |
|
|
|
Bank |
18,970 |
|
|
|
Closing Stock |
1,28,960 |
|
|
2,57,730 |
|
2,57,730 |
|
|
|
|
|
Answer:
Financial Statement of…. |
|||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
50,000 |
Sales |
1,70,000 |
||
Purchases |
1,00,000 |
Closing Stock |
1,00,000 |
||
Wages |
30,000 |
|
|
||
Gross Profit (Balancing Figure) |
90,000 |
|
|
||
|
2,70,000 |
|
2,70,000 |
||
|
|
|
|
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Interest |
2,000 |
Gross Profit |
90,000 |
||
Bad debts |
5,000 |
Rent |
6,000 |
||
Repairs |
3,000 |
|
|
||
Depreciation |
10,000 |
|
|
||
Rates and Taxes |
8,000 |
|
|
||
Salaries |
20,000 |
|
|
||
Office Expenses |
25,000 |
|
|
||
Net Profit (Balancing Figure) |
23,000 |
|
|
||
|
96,000 |
|
96,000 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
2,50,000 |
|
Fixed Assets |
|
Add: Net Profit |
23,000 |
|
Land and Building |
1,00,000 |
Less: Drawings |
20,000 |
2,53,000 |
Furniture and Fixtures |
15,000 |
|
|
Plant and Machinery |
57,000 |
|
Current Liabilities |
|
Current Assets |
|
|
Sundry Creditors |
70,000 |
Closing Stock |
1,00,000 |
|
Bills Payable |
40,000 |
Debtors |
15,000 |
|
|
|
Bills Receivable |
20,000 |
|
|
|
Cash at Bank |
40,000 |
|
|
|
Cash in Hand |
16,000 |
|
|
3,63,000 |
|
3,63,000 |
|
|
|
|
|
Page No 18.41:
Question 25:
Financial Statement of…. |
|||||
Trading Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Opening Stock |
50,000 |
Sales |
1,70,000 |
||
Purchases |
1,00,000 |
Closing Stock |
1,00,000 |
||
Wages |
30,000 |
|
|
||
Gross Profit (Balancing Figure) |
90,000 |
|
|
||
|
2,70,000 |
|
2,70,000 |
||
|
|
|
|
Profit and Loss Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Interest |
2,000 |
Gross Profit |
90,000 |
||
Bad debts |
5,000 |
Rent |
6,000 |
||
Repairs |
3,000 |
|
|
||
Depreciation |
10,000 |
|
|
||
Rates and Taxes |
8,000 |
|
|
||
Salaries |
20,000 |
|
|
||
Office Expenses |
25,000 |
|
|
||
Net Profit (Balancing Figure) |
23,000 |
|
|
||
|
96,000 |
|
96,000 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
2,50,000 |
|
Fixed Assets |
|
Add: Net Profit |
23,000 |
|
Land and Building |
1,00,000 |
Less: Drawings |
20,000 |
2,53,000 |
Furniture and Fixtures |
15,000 |
|
|
Plant and Machinery |
57,000 |
|
Current Liabilities |
|
Current Assets |
|
|
Sundry Creditors |
70,000 |
Closing Stock |
1,00,000 |
|
Bills Payable |
40,000 |
Debtors |
15,000 |
|
|
|
Bills Receivable |
20,000 |
|
|
|
Cash at Bank |
40,000 |
|
|
|
Cash in Hand |
16,000 |
|
|
3,63,000 |
|
3,63,000 |
|
|
|
|
|
Answer:
Trading Account |
||||||
Dr. |
|
Cr. |
||||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
|||
Opening Stock |
2,00,000 |
Sales |
9,00,000 |
|||
Purchases |
6,00,000 |
|
Closing Stock |
1,40,000 |
||
Less: Purchases Return |
10,000 |
5,90,000 |
|
|
||
Wages and Salaries |
60,000 |
|
|
|||
Gross Profit (Balancing Figure) |
1,90,000 |
|
|
|||
|
10,40,000 |
|
10,40,000 |
|||
|
|
|
|
|||
Profit and Loss Account |
|||||
Dr. |
|
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
Trade Expenses |
30,000 |
Gross Profit |
1,90,000 |
||
Repairs |
10,000 |
Rent |
12,000 |
||
Discount |
8,000 |
Interest |
10,000 |
||
Bad Debts |
4,000 |
|
|
||
Net Profit (Balance Figure) |
1,60,000 |
|
|
||
|
2,12,000 |
|
2,12,000 |
||
|
|
|
|
||
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital |
5,00,000 |
|
Fixed Assets |
|
Less: Drawings |
(10,000) |
|
Land and Building |
1,20,000 |
Add: Net Profit |
1,60,000 |
6,50,000 |
Plant and Machinery |
1,00,000 |
Current Liabilities |
|
Furniture and Other Equipment |
50,000 |
|
Sundry Creditors |
1,20,000 |
Current Assets |
|
|
Bills Payable |
30,000 |
Closing Stock |
1,40,000 |
|
|
|
Sundry Debtors |
1,00,000 |
|
|
|
Bills Receivable |
40,000 |
|
|
|
Cash at Bank |
2,50,000 |
|
|
8,00,000 |
|
8,00,000 |
|
|
|
|
|
View NCERT Solutions for all chapters of Class 13