5.

61 Financial Accounti
Trial balance as on 31-12-1999
Debit Balances Rs. Credit Balances
Rs
Drawings 4,000 Capital
20,000
Cash at Bank 1,700 Sales
16,000
Cash in hand 6,500 Sundry creditors
4,500
Wages 1,000
Purchases 2,000
Stock 1-1-99 6,000

Buildings 10,000
Sundry Debtors 4,400
Bills receivable 2,900
Rent 450

Commission 250

General Expenses 800

Fumiture SO0

40,500 40,500
The following adjustments are to be made:
(a) Stock on 31-12-99 was Rs. 4,000
b) Interest on capital at 6% to be provided
(c) Interest on Drawings at 5% to be provided
(d)Wages yet to be paid Rs. 100
) Rent prepaid Rs. 50
Madras, B.C.s April 2002
[Ans:GR. Rs. 10,900; N.P.Ra.8,450;
B/s total: Rs. 30,050
20. Below is given the Trial Balance of Tripathi Brothers of Ahmedabad as on 31st
December1992
Debit Balances Rs Credit Balances
12,000
Opening stock 3,100 Capital
3,000
Buildings 17,000 Bank Loan
Fumiture 1,000 Sundry creditors 4,920
420
Purchases 21,200 Retums outwards
130
Salaries 2,200 Interest
10
Bed debts 120 Dividends
41,460
Cash in hand 1,300 Sales
Retums inwards 1,020
Rent 600
Miscellaneous expenses S00
F i n a l A c c o u n t s

Postage S.62
280
Stationery
260
Wages 3,200
Preight and camiage on purchase
560
Caringe on Sales
800
Repairs 900
Sundry Debtors
6,000

62,040
62,040
lnaddition, the following information is also given:
a)A provision@ S% for
has to be made. doubtful debts
AThe value of stock on 31st December 1992 was estimated at
2,980.
ic)In the miscellaneous expenses included is an
yearly
insurance premium of Rs.
120. The yearly premium falls due every
year on 31st March.
d)Depreciation on buildings is to be charged at 10%
(e) Salaries for December 1992 amounting to Rs. 200 were not
preparing Trial Balance.
paid till the date of
Prepare Trading Account and Profit & Loss Account of Tripathi Brothers for the
vear 1992 and Balance Sheet as on that date.

IMadras, B.Com. April 1999]

[Ans:GrossProfit: -Rs. 13,780; Net profit-Rs. 6,190;
Balance Sheet total Rs. 26,310] -

21. The following are the balances extracted from the ledger of Karikalan as on December
31.1993:
Rs. Rs.
Karikalan's Capital A/c 20,000 Reserve for discount on debtors 200
Drawings 3,500 Loan@9% 5,000
Buildings 10,000 Salaries 4,400
Machinery 2,500 Wages 7,500
Furniture& fittings 600 Rent 2,750
Opening Stock 12,500 Travellingexpenses 1,250
Cycle 400 Postage & telegrams 135
Purchases 75,000 Rates&taxes 90
Sales 1,25,000 Carriage Inwards 2,500
Sales Returns 5,000 Carriage Outwards 750
Duty paid on purchases 15,000 Interest paid 375
Sundry debtors 10,000 General charges 900
Sundry creditors 7,500 Bad debts 300
Reserve for bad & doubtfu Cash in hand 250
debts 400 Cash at Bank 2,400
 S.63
following adjustments
are necessary:
F'inancial Accountin
The
on 31-12-93 Rs. 14,000.
(a) Stock
the following outstanding:
(b) Provide
Salary Rs. 400; Rent Rs. 250; Wages Rs. 600 and Interest Rs, 7s

c)Maintain the reserve for doubtful debts at 5% and the reserve

(c) for
debtors at 2.5% on sundry debtors. discount on
d) Provide depreciation for Building 2.5%, Machinery
hinery 10%,
10%, Furnitue
Cycle 15%.
Furniture 6h
and
Prepare Trading & Profit and Loss Alc and the Balance Sheet
Sheet for
for the
the year ended
31-12-93

IMadras, B.Sc., May 1995

Ans: Gross Profit. -
Rs. 20,900; Net Profit
Balance Sheet Total Rs.
Rs.8,491.5
38,816.501
-

22. Prepare Trading & Profit and Loss Account and Balance Sheet as on on
31st March 1994.
Rs.
Rs.
S.Chandra's Capital A/c 1,19,400 Manufacturing wages 40,970
S.Chandra's Drawings Ac 10,550 Sales 3,56,430
Sundry Creditors 59,630 Return Inwards
6% Loan A/c (Credit)
2,780
20,000 Salaries
11,000
Cash in hand
3,030 Rent & taxes
5,620
Cash at Bank
18,970 Interest& Discount (Dr.) 5,870
Sundry debtors (including
Kalpana for dishonoured
Travelling Expenses 1,880
bill of Rs 1,000) Repairs& Renewals 3,370
62,000 Insurance (including
Bills Receivable
9,500 premium of Rs 300 p.a
Provision for doubtful debts
2,500 paid up to 30th Sep.1994)
Fixtures & fittings 400
8,970 Bad debts
Stock 1st April, 1993 3,620
89,680 Commission Received
Purchases 5,640
2,56,590 Plant& Machinery
Adjustments 28,800
)Stock on hand on 31st March 1994 was Rs.
(ii) Write offhalf of Kalpana's 1,28,960.
dishonoured bill.
(ii) Create a provision of 5% on
(iv)
sundry debtors.
Charge
5% interest on capital.
(y)
Manufacturing wages include Rs. 1,200 for
purchased last year. erection of new
machinery