copy of final_accounts.xs accounting accounts accounts accounts accounts accounts

1 From the following trial balance of a trader,make out a trading and profit and loss account and balance sheet as on 31st march

PARTICULARS

SalesPurchasesPrinting ChargesWagesSalariesOpening StockCarriage InwardsGeneral ExpensesTrade marksRates and TaxesCapitalDiscount receivedLoan BuildingsFurnitureMachineryCash Bank

ADJUSTMENTS:1 The closing stock was valued at RS.3200002 Outstanding Salaries RS.100003 Prepaid Rates&Taxes RS.500

SOLUTION:Trading and profit and loss account for the year ending 31st march,2000

DRPARTICULARS RSTo opening stock

To purchasesTo wagesTo carriage inwardsTo gross profit c/d(Transferred to profit and loss accont)

To printing chargesTo salaries 12500Add:Outstanding 10000To general expensesTo rates and taxes 2500Less:Prepaid 500

To Net Profit(Transferred to cacapital account)

LIABILITIES RSOutstanding salaryLoansCapital 174800Add:Net Profit 271700

2 Mr.Senthil book shows the following balances.Prepare his Trading and Profit and loss account for the year ended 31st March 2005 and balance sheet as on that date.

PARTICULARS

Stock on 1.4.2004

BALANCE SHEET

Purchases

SalesCarriage inwardsSalariesPrinting&StationeryDrawings

Sundry CreditorsSundry DebtorsFurniture

CapitalPostage&TelephoneInterest PaidMachineryLoan AccountSuspense Account

ADJUSTMENTS:1 Closing Stock RS.1200002 Provide 5% for bad&doubtful debts on debtors3 Depreciate machinery&furniture by 5%4 Allow interest on capital at 5%5 Prepaid printing charges RS.2000

SOLUTION:Trading and profit and loss account account of MR.Senthil for the period ending 31st march 2005

DRPARTICULARS RSTo opening stockTo purchasesTo Carriage InwardsTo Gross Profit c/d(Transferred to Profit&loss a/c)

To Salaries

To Printing&Stationery 8000Less:Prepaid 2000

To Postage&TelephoneTo Interest PaidTo Provision for bad&doubtful debtsTo Depreciation:Machinery 2075Furniture 500To Interest on capitalTo Net Profit(Transferred to capital a/c)

LIABILITIES RSSundry CreditorsLoan accountCapital 250000Add:Net profit 46425

296425Add:Interest on capital 12500

308925Less:Drawings 17000

Suspense Account

3 From the following particulars of MRS.Sulochana,prepare Trading and Profit and Loss account and Balance sheet for the year ending 31st march,2004

PARTICULARS

CapitalCash

BuildingsSalaryRent&TaxesOpening stockMachineryDrawingsPurchasesSalesCarriage inwardsFuel,GasSundry DebtorsSundry CreditorsBills ReceivableDividendLoanBad DebtsAdvertisementProvision for Bad&Doubtful Debts

ADJUSTMENTS:1 Closing stock RS.1400002 Write off RS.10000 as bad debts;Provide 5%for bad and doubtful debts.3 Make provision for disount on debtors at 2%4 Provision for discount on creditors at 2%

SOLUTION:Trading and profit and loss account of MRS.Sulochana for the year ending 31st March,2004

DRPARTICULARS RS

To opening stockTo purchasesTo Carriage inwardsTo Fuel,GasTo Gross Profit c/d(Transferred to Profit&Loss account)

To SalaryTo Rent&TaxesTo AdvertisementTo Provision for Bad&Doubtful debts A/cBad Debts 2000Add:Bad debts written off 10000

12000Add:New Provision 12000

24000Less:Old Provision 6000

To Provision for Discount on DebtorsTo Net Profit(Transferred to Capital A/c)

LIABILITIES RSSundry Creditors 120000Less:Provision for discount on creditors 2400

LoanCapital 750000Add:Net Profit 88840

838840Less:Drawings 40000

4 Prepare Trading,Profit and Loss A/c and Balance Sheet as on 31.3.2005 from the following Trial Balance of MR.Imran.

PARTICULARS

Capital Bank OverdraftSalesFurnitureBusiness PremisesCreditorsOpening StockDebtorsRentPurchasesDiscountInsuranceWagesSalariesAdvertisementCarriage on purchasesProvision for Bad&Doubtful DebtsBad DebtsIncome Tax

ADJUSTMENTS:1 Closing stock on 31.3.2005 was RS.1200002 Make a Provision of 5% on Sundry debtors for Bad and Doubtful Debts.3 Rent Received in Advance RS.20004 Provide 10% on Depreciation on Furniture and Business Premises.

SOLUTION:Trading and Profit and Loss Account of MR.Imran for the year ending 31st March,2005

DRPARTICULARS RS

To Opening stockTo PurchasesTo WagesTo Carriage on PurchasesTo Gross Profit c/d(Transferred to Profit&Loss A/c)

To InsuranceTo SalariesTo AdvertisementTo Depreciation on:Furniture 3060Business Premises 12000

To Net Profit (Transferred to Capital A/c)

LIABILITIES RSSundry CreditorsBank Overdraft Rent received in AdvanceCapital 150000Add:Net Profit 105140

255140Less:Income Tax 4000

5 The following are the balances extracted from the books of MRS.Suguna as on 31st March,2004.

PARTICULARS

DrawingsCash at BankCash in HandWagesPurchasesSalesStock (31.03.03)BuildingsSundry DebtorsBills ReceivableCapitalRentCommissionSundry CreditorsGeneral ExpensesFurnitureSuspense Account

ADJUSTMENTS:1 Closing stock RS.40000 valued as on 31.3.042 Interest on Capital at 6% to be provided3 Interest on drawings at 5% to be provided4 Depreciate buildings at the rate of 10%per annum5 Write off Bad Debts RS.10006 Wages yet to be paid RS.500

SOLUTION:Trading and Profit and Loss Account of MRS.Suguna for the year ending 31st March,2004

DRPARTICULARS RS

To Opening stockTo PurchasesTo Wages 10000Add:Outstanding 500

To Gross Profit c/d(Transferred to Profit&Loss A/c)

To RentTo CommissionTo General ExpensesTo Interest on CapitalTo Depreciation on BuildingsTo Bad Debtswritten offTo Net Profit (Transferred to Capital A/c)

LIABILITIES RSSundry CreditorsOutstanding WagesCapital 200000Add:Net Profit 73500

273500Add:Interest on Capital 12000

285500Less:Drawings 40000

245500Less:Interest on Drawings 2000

From the following trial balance of a trader,make out a trading and profit and loss account and balance sheet as on 31st march march,2000

DEBIT CREDITRS RS

420000105000

25007750012500

2250008800

2625050002500

1748001250

17500020000025000500001000

30000

Trading and profit and loss account for the year ending 31st march,2000

RS PARTICULARS RS225000 By sales

105000 By closing stock775008800

323700

7400002500 By gross profit b/d

(Transferred from trading account)22500 By discount received26250

2000271700

324950

RS ASSESTS RS10000 Cash

175000 BankClosing stock

446500 Prepaid rates&taxesBuildingFurnitureMachineryTrade Marks

631500

Mr.Senthil book shows the following balances.Prepare his Trading and Profit and loss account for the year ended 31st March 2005 and balance

DEBIT CREDITRS RS

150000

BALANCE SHEET

130000

3000002000

500008000

17000

2000018000010000

25000075004000

41500250005000

600000 600000

Trading and profit and loss account account of MR.Senthil for the period ending 31st march 2005

RS PARTICULARS RS150000 By Sales140000 By Closing Stock

2000138000

42000050000 By Gross Profit

(Transferred from trading a/c)

6000750040009000

25751250046425

138000

BALANCE SHEETRS ASSETS RS

20000 Sundry Debtors 18000025000 Less:Provision for bad&doubtful 9000

debts

Closing StockPrepaid PrintingFurniture 10000Less:Depreciation 500

2919255000 Machinery 41500

Less:Depreciation 2075

341925

From the following particulars of MRS.Sulochana,prepare Trading and Profit and Loss account and Balance sheet for the year ending 31st march,2004

DEBIT CREDITRS RS

75000040000

40000011000021000

12000012000040000

500000750000

500037000

250000120000

530002800060000

200016000

60001714000 1714000

Write off RS.10000 as bad debts;Provide 5%for bad and doubtful debts.

Trading and profit and loss account of MRS.Sulochana for the year ending 31st March,2004

CRRS PARTICULARS RS

120000 By Sales500000 By Closing Stock

500037000

228000

890000110000 By Gross Profit b/d

21000 (Transferred from Trading A/c)16000 By Dividend

By Provision for discount on Creditors

180004560

88840

258400

BALANCE SHEET

RS ASSETS RSCashBills Receivable

117600 Sundry debtors 25000060000 Less:Bad Debts written off 10000

240000Less:New Provision for Bad& 12000Doubtful debts

228000798840 Less:New Provision for discount 4560

on debtors

Closing StockBuildingsMachinery

976440

Prepare Trading,Profit and Loss A/c and Balance Sheet as on 31.3.2005 from the following Trial Balance of MR.Imran.

DEBIT CREDITRS RS

15000025200

90300030600

12000079800

132000108000

6000660000

24001600024000540001320010800

7000800

40001173400 1173400

Make a Provision of 5% on Sundry debtors for Bad and Doubtful Debts.

Provide 10% on Depreciation on Furniture and Business Premises.

Trading and Profit and Loss Account of MR.Imran for the year ending 31st March,2005

CRRS PARTICULARS RS

132000 By Sales660000 By Closing stock

2400010800

196200

102300016000 By Gross Profit b/d54000 (Transferred from Trading A/c)13200 By Rent 6000

Less:Received in Advance 2000

By Provision for Bad&Doubtful15060 Debts

105140 Old Provision 7000Less:Bad Debts 8000New Provision 5400 6200By Discount

203400

BALANCE SHEET

RS ASSETS RS79800 Sundry Debtors 10800025200 Less:New Provision for Bad& 54002000 Doubtful debts

Closing StockFurniture 30600Less:Depreciation 3060

251140Business Premises 120000Less:Depreciation 12000

358140

The following are the balances extracted from the books of MRS.Suguna as on 31st March,2004.

DEBIT CREDITRS RS

4000017000600001000020000

16000060000

1000004400029000

20000045002500

45000800050005000

405000 405000

Trading and Profit and Loss Account of MRS.Suguna for the year ending 31st March,2004

CRRS PARTICULARS RS

60000 By Sales20000 By Closing Stock

10500109500

2000004500 By Gross Profit b/d2500 (Transferred from Trading A/c)8000 By Interest on Drawings

1200010000

100073500

111500

BALANCE SHEETRS ASSETS RS

45000 Cash in hand500 Cash at Bank

Bills ReceivableSundry Debtors 44000Less:Bad debts wrirren off 1000

Closing StockBuildings 100000Less:Depreciation 10000

243500 FurnitureSuspense Account

289000

march,2000

CRRS

420000

320000

740000323700

1250

324950

RS1000

30000320000

500200000

25000500005000

631500

Mr.Senthil book shows the following balances.Prepare his Trading and Profit and loss account for the year ended 31st March 2005 and balance

RS300000120000

420000138000

138000

RS

171000120000

2000

9500

39425341925

From the following particulars of MRS.Sulochana,prepare Trading and Profit and Loss account and Balance sheet for the year ending 31st march,2004

RS

750000140000

890000228000

280002400

258400

RS4000053000

223440140000400000120000

976440

RS

903000120000

1023000196200

4000

8002400

203400

RS

102600120000

27540

108000358140

RS

16000040000

200000109500

2000

111500

RS600001700029000

4300040000

9000050005000

289000