1.

The following Balances were extracted from the ledger of Ram Industries limited as on 31
March 2014
Balances of different Ledger Accounts Amount (Rs)
Salaries 72,640
Sales 3,47,000
Plant and Machinery 68,600
Commission Paid 3,760
Purchases 2,89,340
Stock on 1 April 2014 22,200
Repairs 3,340
Sundry expenses 920
Sundry debtors 2,860
Returns Inward 2,000
Returns outward 800
Discount allowed 2,300
Rent and Rates 6,440
Sundry Creditors 28,520
Carriage Inward 480
Travelling Expenses 5,260
Drawings 7,000
Investments 12,000
Capital on 1 April 2014 1,25,000
Cash at Bank 2,180

2.Record the following transactions in the journal of Anand enterprise. Post them in ledger and
balance various accounts opened in the ledger.
a. Anand started business with Rs 2,00,000
b. Purchased goods from Ramesh Rs 25,000
c. Goods returned to Ramesh Rs 650
d. Purchased furniture for Rs 15,000 from Shyam Enterprises
e. Goods sold to Gopi for Rs 9,000
f. Goods returned by Gopi Rs 350
g. Cash returned from Gopi Rs 7,000
h. Paid to Ramesh Rs 2,000

3. From the following accounts ,prepare a Balance Sheet for the Neera Purifier Limited for the
year ending 31 March 2015.( assume that these are the only Balance Sheet accounts-use
cash as a plug figure to balance the Balance Sheet)
 Items Amount (Rs)
Gross Fixed Assets 28,000
Inventories 46,500
Long term Debt 42,500
Accrued Expenses 10,000
Accumulated Depreciation 12,000
Short term Bank Loan 15,000
Preference share 2,500
Ordinary Shares 35,000
Retained Earnings 20,000
Net Debtors 32,500
Accounts payable 27,800
Cash Balancing Figure