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प्रश्न
Prepare trading and profit and loss account in the books of Ramasundari for the year ended 31st December, 2017 and balance sheet as on that date from the following information:
| Particulars | ₹ | Particulars | ₹ |
| Opening stock | 2,500 | Sales | 7,000 |
| Wages | 2,700 | Purchases | 3,300 |
| Closing Stock | 4,000 | Salary | 2,600 |
| Discount received | 2,500 | Capital | 52,000 |
| Machinery | 52,000 | Cash at Bank | 6,400 |
| Creditors | 8,000 |
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उत्तर
Trading and Profit & Loss a/c of Ramasundari for the year
ended 31 Dec 2017
| Dr. | Cr. | |||
| Particulars | ₹ | Particulars | ₹ | |
| To Opening stock | 2,500 | By Sales | 7,000 | |
| To Purchases | 3,300 | By Closing stock | 4,000 | |
| To Wages | 2,700 | |||
| To Gross Profit c/d | 2,500 | |||
| 11,000 | 11,000 | |||
| To Salary | 2,600 | By Gross Profit b/d | 2,500 | |
| To Net Profit c/d | 2,400 | By Discount received | 2,500 | |
| 5,000 | 5,000 | |||
Balance Sheet of Ramasundari
as of 31st March 2018
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Capital | 52,000 | 54,400 | Machinery | 52,000 |
| Add: Net Profit | 2,400 | Cash at bank | 6,400 | |
| Creditors | 8,000 | Closing stock | 4,000 | |
| 62,400 | 62,400 |
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संबंधित प्रश्न
Give a word, term, or phrase which can substitute the following statement:
The accounts prepared at the end of the accounting year to know the profit or loss and Financial position of business
Give a word, term, or phrase which can substitute the following statement:
An additional information provided below the Trial Balance.
Select the most appropriate alternatives given below and rewrite the sentence :
______________ is a statement which shows the financial position of business on a specific date.
Select the most appropriate alternatives given below and rewrite the sentence :
Do you agree or disagree with the following statement :
Bank Overdraft is treated as an Internal Liability
What are wasting assets?
What are fixed assets?
Mention any two differences between trial balance and balance sheet.
From the following particulars, prepare balance sheet in the books of Bragathish as on 31st December, 2017:
| Particulars | ₹ | Particulars | ₹ |
| Capital | 80,000 | Cash in hand | 20,000 |
| Debtors | 12,800 | Net profit | 4,800 |
| Drawings | 8,800 | Plant | 43,200 |
How will the following appear in the final accounts of Karaikudi sports club for the year ending 31st March, 2019?
| Particulars | ₹ |
| Tournament fund on 1st April 2018 | 90,000 |
| Tournament fund investment on 1st April 2018 | 90,000 |
| Interest received on tournament fund investment | 9,000 |
| Donation to tournament fund | 10,000 |
| Tournament expenses | 60,000 |
Following is the Receipts and Payments account of Neyveli Science Club for the year ended 31st December, 2018.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | ||
| Receipts | ₹ | Payments | ₹ | ₹ |
| To Balance b/d | By Balance b/d | |||
| Cash in hand | 2,400 | Bank overdraft | 1,000 | |
| To Subscription | 8,700 | By Postage expenses | 200 | |
| To Life membership fees | 5,000 | By Science equipments purchased | 10,000 | |
| To Exhibition fund receipts | 7,000 | By Laboratory expenses | 2,400 | |
| To Sale of science equipments (Book value ₹ 5,000) | 6,000 | By Secretary’s honorarium | 5,000 | |
| To Miscellaneous income | 500 | By Audit fees | 3,600 | |
| By General charges | 1,800 | |||
| By Exhibition expenses | 5,000 | |||
| By Balance c/d | ||||
| Cash in hand | 200 | |||
| Cash at bank | 400 | 600 | ||
| 29,600 | 29,600 | |||
Additional information:
- Opening capital fund ₹ 6,400
- Subscription includes ₹ 600 for the year 2019
- Science equipment as on 1.1.2018 ₹ 5,000
- Surplus on account of exhibition should be kept in reserve for new auditorium.
Prepare income and expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
Calculate the Capital.
| Assets | (₹) | Liabilities | (₹) |
|
Building |
20,000 |
Bills Payable | 18,000 |
| Furniture | 15,000 | Creditors | 20,700 |
| Debtors | 30,000 | Outstanding Wages | 1,250 |
| Investments | 10,000 | ||
| Cash at Bank | 5,000 | ||
| Plant & Machinery | 20,000 |
Annual Insurance Premium ₹ 8,000 is paid on 1st Dec 2018. Calculate the amount of Insurance Premium for the accounting year ending on 31st March 2019.
What does a balance sheet reveal about a business?
Which section does NOT appear on a balance sheet?
What does it indicate if the balance sheet does not tally (totals on both sides are not equal)?
How are adjustments like outstanding expenses or prepaid expenses reflected in the balance sheet?
Which statement best describes the relationship between assets and source of funds?
If cash at bank increases, which side of the balance sheet changes?
