FINAL ACCOUNTS

1. The following trail Balance is extracted from the books of Mr. Vishwas Kadam as on
31.03.2017.

Particulars Amount Particulars Amount

Buildings 4,50,000 Capital 12,00,000
Machinery 9,90,000 12% Loan taken on 1st April, 8,50,000
2016
Land 1,51,000 Sundry Creditors 2,00,000
Stock on 01.04.2016 1,30,000 Interest 2,000
Office Expenses 8,000 Bills Payable 9,000
Sundry Debtors 2,50,000 Dividend on investments 8,000
Wages (for 10 months) 75,000 Miscellaneous Receipts 1,000
Salaries 20,000 R.D.D 13,000
Purchases 6,47,000 Sales 9,90,000
Bad debts 3,400 Returns Outwards 24,000
Factory Manager’s Salary 15,800
Commission 12,000
Insurance 3,000
Cash 800
Bank 20,000
Drawings 1,00,000
Motive power 19,000
Rent , rates & Taxes 13,600
Carriage Inwards 2,000
Travelling Expenses 2,500
Discount 5,000
Investments 2,50,000
Goodwill 50,000
Loose Tools 4,500
Returns Inwards 4,400
Selling Expenses 30,000
Advertising 40,000
32,97,000 32,97,000
Additional Information:
1. Stock on 31.03.2017 was Rs.1,40,000
2. Outstanding Salaries were Rs.14,000 respectively
3. Depreciate Buildings & Machinery by 10 % each
4. Provide 5% for R.D.D.