Professional Documents
Culture Documents
Accountants of Professionals
Accountants of Professionals
Prepared By
Receipts Rs Payments Rs
After considering the following information ,ascertain the net income from profession of
Dr.Ganesh for the year ended 31st March 2013 and prepare a Balance sheet of the same as at that
date
Receipts Rs Payments Rs
2) Equipments purchased and sold on 31st Dec .2014.The Cost of equipment sold Rs-12,000 .
Prepare Receipts and Expenditure Account for the year ended 31-03-2015 and a Balance Sheet
as on that date.
Receipts Rs Payments Rs
Prepare Receipt and Expenditure A/c for the profession and Income and Expenditure Account
(for the household Transaction) for the ended 31st March 2015 after considering the following.
Problem No 4 ) Dr. Gupta commenced medical practice in April 2014, He prepared the
following Receipts and Payment Account for the year ended 31-03-2015.
Receipts Rs Payments Rs
Adjustments
Rs- 4,000 were still outstanding on account of visits. Assisants salary Still payable is Rs 600
stock of drugs on hand was estimated at Rs 2,000 .Furniture and Equipment are subject to
depreciation at 10% , 50% of conveyance is for domestic purpose.
Prepare Receipts and Expenditure Account for the year ended 31-03-2015 and Balance Sheet as
on that date.
Problem No 5 ) Dr. Manish commenced practice as a Dentist on 1stApril ,2014. He supply you
the following Receipts and Payment Account for the year ending 31st March ,2015.
Receipts Rs Payments Rs
To Capital introduced 25,000 By Furniture 10,000
By Equipments 12,500
To Visit Fees 80,000
By Purchase of Drugs 15,000
To Receipts from Dispensing 50,000
By Salaries 10,000
To Miscellaneous Receipts 500
By Rent and Taxes 7,500
By Conveyance 5,000
By Stationery 2,500
By Drawings 60,000
By Balance C/d 33,000
Total 1,55,500 Total 1,55,500
Adjustments
Amounts still receivable on account of visit fees and dispending are Rs-5,000/- and Rs 3,000/-
respectively. Salary to Assistant yet to be paid Rs- 4,000/-. 50% of conveance is for domestic
purpose. Furniture and Equipments to be depreciated by 10% and 5% respectively.Stock of
Drugs in hand Rs. 4,000 and amount payable for their purchases is Rs. 1,000 .
Problem No 6 ) Following is the Balance sheet of Doctor Trupti as on 31st March 2013 and
Receipts and Payment account for the year ended 31st March 2014.
Liabilities Rs Assets Rs
Receipts Rs Payments Rs
Cash Balance 4,000 Office expenses 15,000
Adjustments
Fees outstanding as on 31-03-2014 Rs- 10,000 .Depreciate motor car by 20% ,Furniture at 10%
and equipments are valued at Rs 17,000
Prepare Receipt and Expenditure Account for the year ended 31-03-2014 .
Other information
1) Fees outstanding in the last year are received fully during the current year .
Prepare Receipt and Expenditure Account for the year ended 31-3-2015 and Balance sheet as on
31-3-2015 .
Problem 8 ) Mr. Pratik is a Chartered Accountant following is the Receipt and Payment
Account for the year ended 31-3-2012 .
Adjustments
Prepare Receipts and Expenditure Account of Mr. Pratik for the year ended 31-3-2014 .
Adjustments
1. Office expenses includes Stationary Rs. 60,000 . Stock of Stationary on 31/3/2013 Rs. 25,000
Problem No.10 ) Following is the Receipts and Expenditure Account of Mr. Guru a Charted
Accountant for the year 2012-2013 .
Other information
Computers 1,40,000
Furniture 1,20,000