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प्रश्न
From the following Trial Balance of Shradha Enterprises, you are required to prepare Final Accounts for the year ending on 31st March 2019.
Trial Balance as of 31st March 2019
| Debit balances | Amount (₹) | Credit Balances | Amount (₹) |
| Opening Stock | 2,40,000 | Capital | 13,00,000 |
| Purchases | 8,50,000 | Sundry Creditors | 1,20,000 |
| Returns Inward | 15,000 | Bills Payable | 60,000 |
| Wages | 29,000 | Sales | 25,00,000 |
| Power and Fuel | 21,800 | Return Outward | 8,000 |
| Travelling Expenses | 14,700 | Discount | 2,000 |
| Audit fees | 7,000 | Bank Overdraft | 1,54,000 |
| Royalty | 72,000 | Reserve for Bad and doubtful debts | 8,000 |
| Discount | 1,750 | ||
| Postage | 13,500 | ||
| Bad debts | 3,000 | ||
| Sundry Debtors | 5,20,000 | ||
| Furniture | 1,20,000 | ||
| Plant & Machinery | 15,00,000 | ||
| Freehold Premises | 7,02,000 | ||
| Rent, Rates and Insurance | 42,250 | ||
| 41,52,000 | 41,52,000 |
Adjustments:
1. Insurance is prepaid to the extent of ₹ 2,250
2. Closing stock is valued at ₹ 3,80,000 Cost price and ₹ 4,00,000 as Market price.
3. Outstanding Expenses are Wages ₹ 6,000 and Rent ₹ 5,000
4. Write off further had debts ₹ 1,500 and provide 5% Reserve for doubtful debts.
5. Depreciation on Furniture and Plant and Machinery at 10% p.a. and on Freehold Premises at 15% p.a.
खातेवही
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उत्तर
| In the books of Shradha Enterprises | |||||
| Dr. | Trading and Profit and Loss A/c for the year ended 31st March, 2019 | Cr. | |||
| Particulars | Amt. (₹) | Amt. (₹) | Particular | Amt. (₹) | Amt. (₹) |
| To Opening Stock | 2,40,000 | By Sales | 25,00,000 | ||
| To Purchases | 8,50,000 | Less: Return Inwards | 15,000 | 24,85,000 | |
| Less: Return Outward | 8,000 | 8,42,000 | By Closing Stock | 3,80,000 | |
| To Wages | 29,000 | ||||
| Add: Outstanding | 6,000 | 35,000 | |||
| To Power and Fuel | 21,800 | ||||
| To Royalty | 72,000 | ||||
| To Gross Profit c/d | 16,54,200 | ||||
| 28,65,000 | 28,65,000 | ||||
| To Travelling Expenses | 14,700 | By Gross Profit b/d | 16,54,200 | ||
| To Audit Fees | 7,000 | By Discount | 2,000 | ||
| To Discount | 1,750 | ||||
| To Postage | 13,500 | ||||
| To Bad debts (T) | 3,000 | ||||
| Add: New B.D.(A) | 1,500 | ||||
| Add: New R.D.D.(A) | 25,925 | ||||
| 30,425 | |||||
| Less: Old R.D.D.(T) | 8,000 | 22,425 | |||
| To Rent, Rates and Insurance | 42,250 | ||||
| Less: Prepaid Insurance | 2,250 | ||||
| 40,000 | |||||
| Add: Outstanding Rent | 5,000 | 45,000 | |||
| To Depreciation on: | |||||
| Furniture | 12,000 | ||||
| Plant & Machinery | 1,50,000 | ||||
| Freehold Premises | 1,05,300 | 2,67,300 | |||
| To Net Profit c/d | 12,84,525 | ||||
| 16,56,200 | 16,56,200 | ||||
| Balance Sheet as of 31st March 2019 | |||||
| Liabilities | Amt. (₹) | Amt. (₹) | Assets | Amt. (2) | Amt. (₹) |
| Capital | 13,00,000 | Sundry Debtors (T) | 5,20,000 | ||
| Add: Net Profit | 12,84,525 | 25,84,525 | Less: New B.D.(A) | 1,500 | |
| Sundry Creditors | 1,20,000 | 5,18,500 | |||
| Bills Payable | 60,000 | Less: New R.D.D.(A) @ 5% | 25,925 | 4,92,575 | |
| Bank Overdraft | 1,54,000 | Furniture | 1,20,000 | ||
| Outstanding Wages | 6,000 | Less: Depreciation @ 10% | 12,000 | 1,08,000 | |
| Outstanding Rent | 5,000 | Plant & Machinery | 15,00,000 | ||
| Less: Depreciation @ 10% | 1,50,000 | 13,50,000 | |||
| Freehold Premises | 7,02,000 | ||||
| Less: Depreciation @ 15% | 1,05,300 | 5,96,700 | |||
| Prepaid Insurance | 2,250 | ||||
| Closing Stock | 3,80,000 | ||||
| 29,29,525 | 29,29,525 | ||||
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