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प्रश्न
From the following Trial Balance of Rajnish & Sons and the additional information given below prepare Trading & Profit and Loss Account for the year ending on 31st March 2018 and Balance Sheet as on that date.
Trial Balance as of 31st March 2018
| Debit balances | Amount (₹) | Credit Balances | Amount (₹) |
| Stock (01.04.2017) | 1,20,000 | Capital | 6,00,000 |
| Purchases | 4,00,000 | Sales | 3,00,000 |
| Wages | 17,000 | Return outward | 8,000 |
| Carriage | 6,000 | Sudnry Creditors | 1,80,000 |
| Salaries | 60,000 | Bills Payable | 90,000 |
| Rent, Rates and Taxes | 12,000 | 8% Loan (taken on 01.10.2017) | 1,00,000 |
| Insurance | 8,000 | Bank Overdraft | 79,200 |
| Royalties | 10,000 | ||
| Discount | 4,500 | ||
| Courier charges | 5,200 | ||
| Bad Debts | 7,000 | ||
| Trade Expenses | 2,500 | ||
| Drawings | 15,000 | ||
| Machinery | 3,00,000 | ||
| Furniture | 1,50,000 | ||
| Patents | 50,000 | ||
| Sundry Debtors. | 1,90,000 | ||
| 13,57,200 | 13,57,200 |
Adjustments:
1. Closing Stock valued at ₹ 3,00,000 cost price and ₹ 3,20,000 at Market price.
2. Salaries were paid for 10 months only.
3. Insurance is paid for one year ending on 30.06.2018
4. One of the debtors Mr. Amit became insolvent, from whom ₹ 10,000 was not received.
5. 5% R.D.D. is to be maintained on Debtors.
6. Depreciate Machinery & Furniture @ 10% and 5% respectively.
खातेवही
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उत्तर
| In the books of Rajnish & Sons | |||||
| Dr. | Trading & Profit & Loss A/c for the year ended 31st March, 2019 | Cr. | |||
| Particulars | Amt. (₹) | Amt. (₹) | Particulars | Amt. (₹) | Amt. (₹) |
| To Opening Stock | 1,20,000 | By Sales | 3,00,000 | ||
| To Purchases | 4,00,000 | By Closing Stock | 3,00,000 | ||
| Less: Return Outward | 8,000 | 3,92,000 | |||
| To Wages | 17,000 | ||||
| To Carriage | 6,000 | ||||
| To Royalties | 10,000 | ||||
| To Gross Profit c/d | 55,000 | ||||
| 6,00,000 | 6,00,000 | ||||
| To Salaries (10 m) | 60,000 | By Gross Profit b/d | 55,000 | ||
| Add: Outstanding (2m) | 12,000 | 72,000 | By Net Loss c/d | 1,14,700 | |
| To Rent, Rates and Taxes | 12,000 | ||||
| To Insurance | 8,000 | ||||
| Less: Prepaid Insurance. (3m) | 2,000 | 6,000 | |||
| To Discount | 4,500 | ||||
| To Courier charges | 5,200 | ||||
| To Bad Debts (T) | 7,000 | ||||
| Add: New B.D.(A) | 10,000 | ||||
| Add: New R.D.D.(A) | 9,000 | 26,000 | |||
| To Trade Expenses | 2,500 | ||||
| To Interest on loan | 4,000 | ||||
| To Depreciation on : | |||||
| Machinery | 30,000 | ||||
| Furniture | 7,500 | 37,500 | |||
| 1,69,700 | 1,69,700 | ||||
| Balance Sheet as of 31st March 2018 | |||||
| Liabilities | Amt. (₹) | Amt. (₹) | Assets | Amt. (₹) | Amt. (₹) |
| Capital | 6,00,000 | Machinery | 3,00,000 | ||
| Less : Drawings | 15,000 | Less: Depreciation @ 10% | 30,000 | 2,70,000 | |
| 5,85,000 | Furniture | 1,50,000 | |||
| Less : Net Loss | 1,14,700 | 4,70,300 | Less: Depreciation @ 5% | 7,500 | 1,42,500 |
| Sundry Creditors | 1,80,000 | Patents | 50,000 | ||
| Bills Payable | 90,000 | Sundry Debtors (T) | 1,90,000 | ||
| 8% Loan | 1,00,000 | Less: New B.D.(A) | 10,000 | ||
| Add: Int. on loan outstanding | 4,000 | 1,04,000 | 1,80,000 | ||
| Bank Overdraft | 79,200 | Less: New R.D.D.(A) | 9,000 | 1,71,000 | |
| Outstanding Salaries | 12,000 | Closing Stock | 3,00,000 | ||
| - | Prepaid Insurance | 2,000 | |||
| 9,35,500 | 9,35,500 | ||||
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