14. On 31st March, 2024 the following Trial Balance was prepared from the books of Manpreet. Debit Balances ₹ Credit Balances ₹ Furniture 3,400 Capital 1,00,000 Building 21,700 Discount received 2,000 Drawings 4,200 Bank Loan 10,000 Cash at Bank 2,470 Purchases Return 970 Wages 31,250 Sales 1,91,940 Discount Allowed 2,640 Sundry Creditors 12,450 Bank Charges … Read more
13. Following is the Trial Balance of Indramani as on 31st March, 2024: Debit Balances ₹ Credit Balances ₹ Building 27,000 Capital 60,000 Machinery 16,500 Returns Outward 1,100 Furniture 6,300 Sales 2,46,700 Goodwill 27,142 Provision for Doubtful Debts 6,200 Wages 31,790 Creditors 30,160 Salaries 15,040 Bank Loan 10,000 Freight Inwards 2,470 Freight Outwards 2,000 Manufacturing … Read more
12. Prepare Trading and Profit & Loss Account for the year ending on 31st March, 2024 and Balance Sheet as on that date from the following balances of Trial Balance: Particulars ₹ Particulars ₹ Debit Balances Advance for Machinery 7,000 Drawings 10,000 Discount 1,000 Machinery 50,000 Wages and Salaries 5,000 Stock 25,000 Cash in Hand … Read more
11. From the following Trial Balance of Shubho, prepare Trading and Profit & Loss Accounts for the year ended 31st March, 2024 and Balance Sheet as at that date: Heads of Accounts L.F. Debit Balances (₹) Credit Balances (₹) Land and Building 50,000 Purchases (Adjusted) 2,07,500 Stock (31st March. 2024) 45,000 Wages 45,300 Salaries 39,000 … Read more
10. From the following Trial Balance and other information, prepare Trading and Profit & Loss Account for the year ended 31st March, 2024 and Balance Sheet as at that date: Heads of Accounts L.F. Dr. (₹) Cr. (₹) Sundry Debtors 3,20,000 Stock on 1st April, 2023 2,20,000 Cash in Hand 350 Cash at Bank 15,450 … Read more
9. From the following information of Menal, prepare his Final Accounts for the year ended 31st March, 2024: Debit Balances ₹ Credit Balances ₹ Purchases 2,50,000 Sales 5,00,000 Returns Inward 12,000 Returns Outward 10,000 Carriage 8,000 Creditors 1,02,000 Wages 60,000 Commission (Cr) 1,000 Miscellaneous Expenses 2,000 12% Bank Loan 30,000 Insurance 1,200 Capital 2,40,000 Repairs … Read more
8. Following balances are taken from the books of Ramesh. Prepare Trading and Profit & Loss Account for the year ended 3lst March, 2024 and Balance Sheet as on that date: Particulars ₹ Particulars ₹ Capital 12,00,000 Drawings 2,10,000 Opening Stock 4,50,000 Plant and Machinery 2,40,000 Furniture 15,000 Purchases 29,50,000 Sales 43,50,000 Insurance 25,000 Purchases … Read more
7. Following are the balances extracted from the books of Narain on 31st March, 2024: Particulars ₹ Particulars ₹ Narain’s Capital 3,00,000 Sales 15,00,000 Narain’s Drawings 50,000 Sales Return 20,000 Furniture and Fittings 26,000 Discount (Dr.) 16,000 Bank Overdraft 42,000 Discount (Cr.) 20,000 Creditors 1,38,000 Insurance 20,000 Building 2,00,000 General Expenses 40,000 Stock on 1st … Read more
6. Prepare Trading and Profit & Loss Account for the year ended 31st March, 2024 and Balance Sheet as at that date from the following balances taken from the books of Vijay on 31st March, 2024 after giving effect to the following adjustments: (i) Stock Bs on 31st March, 2024 was valued at ₹2,30,000. (ii) … Read more
5. From the following Trial Balance of Sunil as on 31st March, 2024, prepare Trading and Profit & Loss Account for the year ended 31st March, 2024 and Balance Sheet as at that date: Heads of Accounts L.F. Debit Balances ₹ Credit Balances ₹ Capital 8,00,000 Drawings 1,80,000 Sales 15,50,000 Purchases 8,26,000 Stock (1st April, … Read more