Professional Documents
Culture Documents
Final
Final
Cr.
Particulars
To Opening Stock
To Purchases
- Purchases Returns
- Drawings of Goods
- Goods Donated
- Goods given as
sample
To Carriage Inward
To Cartage
To Freight on purchases
To Wages
+ Outstanding Wages
- Prepaid Wages
To Clearing charges
To Octroi
To Custom Duty
To Royalty
To Fuel & Power
To Water Charges
To Import Duties
To Dock Charges
To Manufacturing/ Factory
+ Outstanding Exp
- Prepaid Exp
To Factory Rent
To Gross Profit
Transferred to P/L a/c
Amount
Rs.
Particulars
By Sales
- Sales Returns
By Insurance Claim
(Loss of Stock)
By Closing Stock
By Gross Loss
Transferred to Profit
And Loss a/c
(as the case may be)
Amount
Rs.
Cr.
Particulars
Amount
Rs.
Particulars
Amount
Rs.
Cr.
Liabilities
Capital
+ Net Profit (if any)
+ Interest on Capital
- Drawings
- Interest on Drawings
- Goods withdrawn for
private use
- Net Loss (if any)
Mortgage
+ Interest Due
Loans
+ Interest due
Income received in
advance
Outstanding Expenses:
For Wages
For Salaries
For Sundry expenses
Bank overdraft
+ Interest on Overdraft
Bills Payable
Creditors
- Reserve for Discount
Total
Amount
Rs.
Assets
Goodwill
Land
Patents
Building
- Depreciation
Plant & Machinery
- Depreciation
Furniture & Fixtures
- Depreciation
Investments
+ Interest due
Prepaid expenses
Bills Receivable
Accrued Income
Debtors
- New Bad Debts
- Reserve for Bad
Debts
- Reserve for Discount
Stock in Trade (Closing
Stock)
Cash at Bank
Cash in hand
Total
Amount
Rs.
PROBLEMS
1. Prepare the Trading and Profit and Loss Account and Balance Sheet of Sujata
Traders for the year ended 31st March, 2013 from the following Trial BalanceParticulars
Cash in hand
Salaries
Purchases
Sales Returns
Sundry expenses
Tax and Insurance
Bad Debts
Investments
Debtors
Opening stock
Drawings
Furniture
Bills Receivable
Total
Debit
Rs.
3,000
5,000
24,000
2,000
5,000
1,000
1,000
4,000
4,000
6,000
7,800
1,200
6,000
70,000
Particulars
Capital
Bank Overdraft
Sales
Purchases Returns
Reserve for Bad debts
Commission
Bills Payable
Total
Credit
Rs.
35,000
4,000
20,000
3,000
2,000
1,000
5,000
70,000
Adjustments1. Salaries Rs.200 and Tax Rs.400 are outstanding while insurance for Rs. 50 is
prepaid.
2. Reserve for Bad debts is to be kept at Rs. 1,000
3. Depreciation on Furniture is to be charged @10%
4. Closing stock is valued at Rs. 9,000
2. The following Trial Balance is extracted from the books of Mr. Sandeep for the
year ended 31st March, 2013
Particulars
Cash in hand
Purchases
Sales Returns
Office expenses
Tax and Insurance
Bad debts
Debtors
Investments
Opening Stock
Drawings
Furniture
Bills Receivable
Total
Debit
Rs.
1,500
12,000
1,000
2,500
500
500
5,000
4,000
3,000
1,400
600
3,000
35,000
Particulars
Capital
Bank Overdraft
Sales
Purchases Returns
Reserve for Bad debts
Commission
Bills Payable
Creditors
Total
Credit
Rs.
16,000
2,000
9,000
2,000
1,000
500
2,500
2,000
35,000
Cash in hand
Purchases
Sales Returns
Office Exp.
Travelling exp.
Tax and Insurance
Bad Debts
Debit
Rs.
1,500
13,000
1,000
2,100
400
500
400
Particulars
Capital
Bank Overdraft
Sales
Purchases Returns
Reserve for Bad debts
Creditors
Loan
Credit
Rs.
12,000
2,000
16,000
2,000
1,000
4,000
1,000
Debtors
Wages
Carriage
Investments
Opening Stock
Drawings
Furniture
Bills Receivable
Total
6,600
550
450
4,000
4,000
1,400
1,600
3,500
41,000
Interest Received
Bills Payable
Total
500
2,500
41,000
Purchases
Sales Returns
Bad debts
Debtors
Bills Receivable
Drawings
Opening Stock
Wages
Salaries
Factory expenses
Rent and Rates
Insurance
Prepaid Insurance
Investments
Accrued Interest
Furniture
Debit
Rs.
1,60,000
4,200
350
40,000
12,600
4,900
22,050
18,600
4,800
10,320
2,430
2,250
250
18,200
180
3,200
Particulars
Sales
Purchase Returns
Bad Debt Reserve
Creditors
Bills Payable
Capital
Outstanding Wages
Interest
Credit
Rs.
2,40,000
3,100
1,000
25,000
8,000
25,000
400
2,050
Cash in Hand
Total
Adjustments-
220
3,04,550
Total
3,04,550