fRavi, prepareTrading and Profit:and Loss Acca

Balance Sheet as on
ofRavi,
Trial
Balance
Balance on that date:
following 31st 1993 and a
the
14 From
December

ended Trial Balance

theyear
for
Debit Credit
Particulars
Rs. Rs.

40,000
Capital 25,000
Sales 15,000
Purchases 2,000
Salaries 1,500
Rent 300
Insurance
5,000
Drawings 28,000
Machinery
Bank Balance 4,500
Cash 2,000
Stock 1-1-93 5,200
Debtors 2,500
1,000
Creditors
66,000
66,000

Adjustments required:
(a) Stock on 31-12-93 Rs. 4,900
(b) Salaries unpaid
Rs. 300
(c)Rent paid in advance Rs. 200
(d) Insurance prepaid
Rs. 90
B.C.S. (ICE) MAy.20
Ans: GP.: Rs. 9,700; N.P. :IMadras,
10)
Rs. 5,890; B/s Total:Rs.
 F i NA L ACCOUNTS

Rs
Tradang ond
Ps PaL a Ravi
or tho yean endesd

DATE F O L I O |
PARTICUARS
Rs
DATE PARTICULARS a1Duembu 1993
N

To Openirq steuk
5908 By Solas Ro Ps Rs Ps

In Putchase
I6O00 By losing Atok a5000
00
100
lo qri0ss proit

a1100
29900
3000 B g06 pCt
To SalanH6
300 2300 9100
Add:Qutstandiry
1500
To Rent
lessPnepaic 900 1300
300
fo Tnswan
90
lOss Prepaid

5R10

9T00
9100

Polaxnashont og Ravia 60 31 Dearnbty 1993

iabi ities Arno unt Amn nunit AsRt Armount Anmount
fopital LOO00 Hachinnuy 28000
dd: Net prcgk 580 COsh af boank A5OO
Les Drau nos 500D 40810 Cosh in hand 2000
dosing stouk 4900
oudstandig Salaries 300 Debtorns 2500
Credi tons 1o00 Prepaid Rent 200
Prepai c InsurQgcO 90

2 90 4290
17. Prepare a Trading and Profit &Loss Ae for the year erded 31st Decemter 1995 ad
a Balance Sheet as on that date from the following Trial Balance of Mr. Akilan
Rs. Rs
Drawings 45,000 Capital 1,60,000
Goodwill 90,000 Bils Payable 35.000
Buiidings 60,000 Creditors 70,000
Machinery 40,000 Purchase Returns 2,650
Bils Receivable 6,000 Sales 2,18,000
Opening Sock 40,000
Purchases 51,000
Wages 26,000
Carriage Outwards 500
Carriage Inwards 1,000
Salaries 35,000
Rent 3,000
Discount 1,100
Repairs 2,300
Bank 25,000
Cash 1,600
Debtors 45,000
Bad debts 1,200
Sales Retuns 2,000
Furniture 6,000
Advertisements 3,500
General Expenses 450
4,85,650
4,85,650
Adjustments:
() Closing Stock was Rs. 35,000.
ii)
(i) Depreciate Machinery and furniture by
(ii) Outstanding wages Rs. 1,500. 10%
(iv) Prepaid advertisement Rs. 500.
(v) Create 5% on debtors for bad debts as
provision. May
1997

Madras, B.Se,
 Ans: Gross Profit Rs. 1,34,150;
-

Net Profit- Rs. 80,750; Balance Sheet Total - Rs. 3,02.250

 ir ading ol PAL a For yeon end
Ps
11 PARTICULARS
Rs Rs
DATE
PARTICULARS LAmben 199
DATELO
Rs
NO
AOO00 By 8a105 Ps Rs Ps

lo Optning stotk 51000 Less RekunOs a18O0o

To Purthase A000
Los RetuZOS
2650
48350 Al& 000
Ry dosingAhk
500 36000
Adld Outstandg
o_casiag2 inular
134L50

351O00
151000

6CO Ru o1062 prat_ 134150

Io deprtigton en faritwt
To dogroaton en Maahinouy
In Advisemenk 3500 3000

les Prapald 500 A

Io bad debts 1200

lo _piouisen_kor_dobteLs_ 2.35

900
Io Caziagg Ouctuands
lo Salaries 35000

To Rent 3000
To Ol&coun
10 RepaiTS 2300
lo qgroza oxgen 490

io Notpriskt 8O150
34150

1341D4
 Rs Ps
alanw
Rs
t o 09 3 DeambUi Im2
Shee
FOLIO
e8ILITIE DATE No PAR ARS
DATE l60000
Rs Ps Rs S

capital Gacoduoi
S0150 90000
Add Atprcgi Buildings 60000
Los Drawligs
45000 195150 NachineY 40000
LOs8 dep aiatien_ H000 36000
Btllapauuable 35000 lls uivable AO00
Leaditnts TOmd Bank 25000
cOsh 1600
500 Debtors 45000
Outstanding wa0
Less Proulsion_jon_dabtors_ 42150
FuTnitun 6000
1oss depHLLiation 600 5400
Prepald adveztiseman 500

3022D
3022S0