Professional Documents
Culture Documents
Accounts4 Sem1
Accounts4 Sem1
Accounts4 Sem1
Adjustments
Adjustments
Adjustme Journal Entry Adjustment in Adjustment in
nts. Trading P&L A/c Balance Sheet
Closing St Closing Stock A/c Dr Posted at the credit side Shown at the asset
of trading a/c side
Depreciation To TradingA/c
Depreciation A/c Dr Posted at the debit side Shown as deducted
To Asset A/c of the P&L A/c from concerned asset
Outstanding Expenses A/c Dr. Added to the concerned Shown at the liabilities
Exp. exp at the debit side of side
To Outs. Exp A/c Tr/P&L A/c
Prepaid Prepaid Exp A/c Dr Deducted from the Shown at the asset
Expenses To Exp. A/c concerned exp at the side
debit side of P&L A/c
Accrued Accrued Inc A/c Dr Added to the concerned Shown at the asset
Income To Income A/c exp at the credit side of side
P&L A/c
Un earned Income A/c Dr Deducted from the Shown at the liabilities
Income To un earned Inc. concerned inc at the side
credit side of P&L A/c
Adjustme Journal Entry Adjustment in Adjustment in
nts. Trading P&L A/c Balance Sheet
Q1) From the following T/b and other additional information obtained
from the books of Mr. SKC, prepare trading profit & loss a/c for
the half year ended 30th Sept. 2001 and his b/s as on that date
Heads of A/c Dr. Cr. Heads of A/c Dr. Cr.
Capital 201500 Carriage Outwards 4550
Drawings 11700 Debtors & Creditors 62400 32500
Trade Exp 15600 B/R & B/P 28600 13650
Cash 975 Furniture & Fixtures 20020
Bank 29510 Bad Debts 1950
Freehold Premises 169000 Wages 32500
Stock as on 1.4.01 45500 Salaries 25805
Purchases & Sls 97500 325000 Advertisements 19500
Returns 3640 2600 Rent Rates &Taxes 4550
Carriage Inwards 1950 575250 575250
To machinery
Gas & Fuel 2970
To Freight 9900
To Factory lighting 1100
To Gross Pr C/d
304040 304040
To Salaries 13200 By GP B/d 108570
To Office Exp 2750 By Int (received) 1100
To Postage Telg 1540 Add Outst. 3300 4400
To Insurance 1760
To Office Rent 2860
Dr. Continued:… Cr.