23. From the following Trial Balance, prepare Trading and Profit & Loss Account for the Year ended 31st March, 2024 and Balance Sheet as at that date: Heads of Accounts LF. Dr. Balance(₹) Cr. Balance(₹) Capital 5,00,000 Plant and Machinery 1,00,000 Land and Building 1,20,000 Sales 9,00,000 Furniture and Fixtures 50,000 Trade Expenses 30,000 Cash … Read more
22. Prepare Trial Balance, Trading and Profit && Loss Account for the year ended 31st March, 2024 and Balance Sheet of the Gurman Trading Company as at that date, from the following extract of Ledger balances: ₹ ₹ Proprietor’s Capital A/c 1,19,400 Proprietor’s Drawings A/c 10,550 Wages 40,970 Plant and Machinery 28,800 Sundry Debtors 71,500 … Read more
21. Trial Balance of Chatter Sen on 31st March, 2024 revealed the following balances: Debit Balances: ₹ Debit Balances (Contd.): ₹ Machinery 10,00,000 Rent 20,000 Purchases 5,80,000 Insurance 10,000 Sales Return 10,000 Advertisement 10,000 Opening Stock 4,00,000 Cash at Bank 69,000 Discount Allowed 3,500 Credit Balances: Bank Charges 750 Capital A/c 12,00,000 Sundry Debtors 4,50,000 … Read more
20. From the following balances as on 31st March, 2024, prepare Trading and Profit & Loss Account and Balance Sheet: ₹ ₹ Capital Account 1,00,000 Returns Outward 5,000 Plant and Machinery 40,000 Rent 4,000 Sundry Debtors 24,000 Sales l,64,000 Sundry Creditors 19,000 Manufacturing Expenses 8,000 Life insurance Premium 12,000 General Expenses 7,500 Purchases 1,05,000 Bad … Read more
19. The following is the Trial Balance of Atul as at 31st March, 2024: Heads of Accounts LF. Dr. Balance(₹) Cr. Balance(₹) Capital 50,000 Drawings 10,000 Debtors 34,000 Creditors 24,000 Adjusted Purchases 75,700 Sales 1,31,000 Sales Return 1,500 Bank Loan 10,000 Interest on Loan 300 Cash in Hand 3,000 Cash at Bank 7,500 Miscellaneous Income … Read more
18. From the following balances, prepare Trading and Profit & Loss Account for the year ending 31st March. 2024 and the Balance Sheet as on that date: Debit Balances: ₹ Debit Balances (Contd.): ₹ Machinery 4,00,000 Rent 45,000 Building 1,50,000 Sundry Expenses 20,000 Debtors 2,70,000 Carriage 15,000 Drawings 90,000 Credit Balances: Purchases 9,50,000 Capital 12,00,000 … Read more
17. From the following balances of Anand, prepare Trading Account, Profit & Loss Account, and Balance Sheet as at 31st March, 2024: Credit Balances: ₹ Debit Balances (Contd.): ₹ Capital 4,60,000 Postage 2,730 Creditors 1,12,470 Bad Debts 2,870 Sales 7,81,820 Interest 12,950 Bad Debts Recovered 1,750 Insurance 4,170 Loan 1,20,000 Machinery 1,00,000 Debit Balances: Stock … Read more
16. Following are the balances as on 31st March, 2024 extracted from the books of Dass: ₹ ₹ Sales 9,20,000 Postage and Courier 6,200 Purchases 6,83,000 Miscellaneous Expenses 9,000 Return Inwards 13,000 Bad Debts 4,000 Return Outwards 22,000 Debtors 2,20,000 Stock on 1st April, 2023 1,76,000 Creditors 1,28,000 Carriage Inwards 24,000 Loan from Sahil 50,000 … Read more
15. Prepare Trading and Profit & Loss Account and Balance Sheet of Jagat as at 3lst March, 2024 from the following balances: ₹ ₹ Capital 3,60,000 Salaries 60,000 Machinery 70,000 General Expenses 20,000 Sales 9,20,000 Rent 50,000 Purchases 5,00,000 Purchase Return 5,000 Sales Return 10,000 Debtors 3,00,000 Stock as at 1st April, 2023 1,00,000 Cash … Read more
14. From the Balance Sheet given below, calculate: (i) Fixed Assets (ii) Current Assets (iii) Current Liabilities (iv) Working Capital Liabilities ₹ Assets ₹ Trade Creditors 42,000 Stock in Hand 48,000 Expenses Accrued 3,200 Debtors 36,000 Bank Overdraft 4,800 Prepaid Expenses 400 Long-Term Loan 20,000 Goodwill 20,000 Interest on Loan 1,000 Land 20,000 Capital 93,400 … Read more