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प्रश्न
From the following Trial Balance of Nandini & Co. as of 31st March 2019. Prepare Final Accounts after considering the adjustments given below.
| Particulars | Debit Amount (₹) | Credit Amount (₹) |
| Loose Tools | 1,10,000 | |
| Furniture & Fixtures | 81,000 | |
| Bad debts | 1,400 | |
| Sundry Debtors | 81,600 | |
| Stock (31st March 2018) | 52,000 | |
| Purchases | 77,000 | |
| Sales Cash | 21,000 | |
| Sales Credit | 81,000 | |
| Returns | 400 | 600 |
| Advertisements | 4,800 | |
| Rate taxes & Insurances | 6,000 | |
| Repairs & maintenance | 1,200 | |
| Salaries (2/3rd for factory) | 18,000 | |
| Rent (Paid for 11 months) | 2,200 | |
| Machinery (Includes ₹ 24,000 | 84,000 | |
| purchased on 1st Oct. 2018) | ||
| Capital | 3,60,000 | |
| R.D.D. | 8,000 | |
| Sundry Creditors | 70,000 | |
| Drawings | 14,000 | |
| Interest | 1,200 | |
| Dividend | 2,800 | |
| Bank Balance | 40,000 | |
| Royalty | 6,000 | |
| 9% Bank loan (30th Sept 2018) | 40,000 | |
| Carriage Outwards | 4,000 | |
| Discount | 1,000 | |
| 5,84,600 | 5,84,600 |
Adjustments:
1. Closing stock valued at ₹ 1,00,000.
2. Write off ₹ 2,000 as bad debts and create a provision for doubtful debts @ 5% on Sundry Debtor.
3. Depreciate Machinery by 10% p.a. and Loose Tools is valued at ₹ 1,00,000.
4. Charge Interest on Capital @ 2% p.a.
खातेवही
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उत्तर
| In the books of Nandini & Co. | |||||
| Dr. | Trading & Profit & Loss Account for the year ended 31st March, 2019 | Cr. | |||
| Particulars | Amt. (₹) | Amt. (₹) | Particulars | Amt. (₹) | Amt. (₹) |
| To Opening stock | 52,000 | By Sales | |||
| To Purchases | 77,000 | Cash | 21,000 | ||
| Less: Returns | 600 | 76,400 | Credit | 81,000 | |
| To Salaries (factory) | 12,000 | 1,02,000 | |||
| To Royalties | 6,000 | Less: Returns | 400 | 1,01,600 | |
| To Gross Profit c/d | 55,200 | By Closing Stock | 1,00,000 | ||
| 2,01,600 | 2,01,600 | ||||
| To Advertisement | 4,800 | By Gross Profit b/d | 55,200 | ||
| To Bad debts (T) | 1,400 | By Interest | 1,200 | ||
| Add: New B.D.(A) | 2,000 | By Dividend | 2,800 | ||
| Add: New R.D.D (A) | 3,980 | By Excess R.D.D. | 620 | ||
| 7,380 | |||||
| Less: Old R.D.D. (T) | 8,000 | ||||
| To Rates Taxes and Insurance | 6,000 | ||||
| To Repairs and Maintenance | 1,200 | ||||
| To Salaries (office) | 6,000 | ||||
| To Rent (11m) | 2,200 | ||||
| Add: Outstanding (1m) | 200 | 2,400 | |||
| To Interest on bank loan | 1,800 | ||||
| To Carriage outward | 4,000 | ||||
| To Discount | 1,000 | ||||
| To Depreciation on : | |||||
| Machinery | 7,200 | ||||
| Loose Tools | 10,000 | 17,200 | |||
| To Interest on Capital | 7,200 | ||||
| To Net Profit c/d | 8,220 | ||||
| 59,820 | 59,820 | ||||
| Balance Sheet as of 31st March 2019 | |||||
| Liabilities | Amt. (₹) | Amt. (₹) | Assets | Amt. (₹) | Amt. (₹) |
| Capital | 3,60,000 | Loose Tools | 1,10,000 | ||
| Less: Drawings | 14,000 | Less: Depreciation | 10,000 | 1,00,000 | |
| 3,46,000 | Furniture & Fixtures | 81,000 | |||
| Add: Interest on Capital | 7,200 | Sundry Debtors (T) | 81,600 | ||
| 3,53,200 | Less: New B.D. (A) | 2,000 | |||
| Add: Net Profit | 8,220 | 3,61,420 | 79,600 | ||
| Creditors | 70,000 | Less: New R.D.D (A) | 3,980 | 75,620 | |
| 9% Bank loan | 40,000 | Machinery | 84,000 | ||
| Add: Outstanding Interest on loan | 1,800 | 41,800 | Less: Depreciation @ 10 % (6,000 + 1,200) | 7,200 | 76,800 |
| Outstanding Rent | 200 | Bank Balance | 40,000 | ||
| Closing Stock | 1,00,000 | ||||
| 4,73,420 | 4,73,420 | ||||
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