1. State whether the following expenses are capital or revenue in nature:  (i) Expenses on whitewashing and painting of a building purchased to make it ready for use.  (ii) 10,000 spent on constructing platform fora new machine.  (iii) Repair expenses of 25,000 incurred for whitewashing of factory building.  (iv) Insurance...

2. From the following information, determine Gross Profit for the year ended 31st March, 2024: ₹ ₹ Opening Stock (1st April, 2023) 50,000 Goods purchased during the year 2,80,000 Freight and Packing 20,000 Closing Stock (31st March, 2024) 60,000 Sales 3,80,000 Packing Expenses on Sales 12,000   T.S.Grewal/2024 Edition/Practical Problems/Q-02...

3. Prepare Trading Account from the transactions given below: ₹ ₹ Opening Stock 33,000 Purchases Return 2,400 Purchases 29,000 Closing Stock 57,700 Sales Return 500 Carriage Inwards 100 Sales 25,400 Depreciation 2,000 Also pass the Journal entries.   T.S.Grewal/2024 Edition/Practical Problems/Q-03 For full question, please refer to the text book...

4. Calculate Closing Stock from the following details: ₹ ₹ Opening Stock 20,000 Credit Sales 40,000 Cash Sales 60,000 Rate of Gross Profit on Cost 33% Purchases 70,000 (KVS)   T.S.Grewal/2024 Edition/Practical Problems/Q-04 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for...

5. Ascertain Gross Profit from the following information: ₹ ₹ Opening Stock 3,00,000 Carriage on Sales 30,000 Closing Stock 2,80,000 Office Rent 58,000 Purchases 8,50,000 Sales 14,07,000 Carriage on Purchases 23,000   T.S.Grewal/2024 Edition/Practical Problems/Q-05 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting,...

6. Profit from the following ₹ ₹ Stock on 1st April, 2023 40,000 Returns Outward 80,000 Purchases 4,00,000 Wages and Salaries 50,000 Sales 3,80,000 Returns Inward 20,000 Carriage Inwards 20,000 Stock on 31st March, 2024 1,30,000 Net Realisable Value (Market Value) of stock as on 31st March, 2024 was 1,20,000)...

7. From the following information, prepare Trading Account for the year ended 31st March, 2024:  Adjusted Purchases ₹6,60,000; Sales ₹7,44,000; Closing Stock ₹50,400; Freight and Carriage Inwards ₹3,600; Wages ₹6,000; Freight and Cartage Outwards ₹2,000.   T.S.Grewal/2024 Edition/Practical Problems/Q-07 For full question, please refer to the text book T.S.Grewal’s Double...

8. Following balances are in the Trial Balance of a firm as on 31st March, 2024: ₹ ₹ Net Profit 1,00,000 Rent Received 10,000 Gain on Sale of Machine 15,000 Interest on Loans 20,000 Donation 2,000 (Delhi)   T.S.Grewal/2024 Edition/Practical Problems/Q-09 For full question, please refer to the text book...

9. From the following information, calculate Operating Profit: ₹ ₹ Net Profit 1,00,000 Rent Received 10,000 Gain on Sale of Machine 15,000 Interest on Loans 20,000 Donation 2,000 (Delhi)   T.S.Grewal/2024 Edition/Practical Problems/Q-09 For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for...

10. From the following information, prepare Profit & Loss Account of Gurman for the year ended 31st March, 2024: ₹ ₹ Salaries and Wages 30,000 Advertising 10,000 Commission Paid 2,000 Discount Allowed 18,000 Postage and Courier 1,500 Rent Received 17,000 Insurance 3,000 Interest on Investment 15,000 Interest Paid 4,000 Bad...

11. From the following information, prepare Profit & LOSs Account for the year ended 31st March, 2024: ₹ ₹ Gross Profit 1,30,000 Discount Received 6,000 Rent 5,000 Printing and Stationery 14,000 Salary 35,000 Legal Charges 10,000 Commission Paid 19,000 Office Expenses 2,000 Interest on Loan 5,000 Loss by Fire 6,000...

12. From the following particulars, prepare Balance Sheet as at 31st March, 2024: Dr. (₹) Cr. (₹) Capital 5,00,000 Drawings 44,000 Debtors 64,000 Creditors 42,000 Cash in Hand 3,600 Cash at Bank 72,000 Plant 1,00,000 Furniture 37,000 Net Profit 16,600 General Reserve 10,000 Closing Stock 2,48,000 Total 5,68,600 5,68,600  ...

13. From the following information, prepare Balance Sheet as at 31st March, 2024 arranging the assets and liabilities (i) in order of permanence, and (ii) in order of liquidity: ₹ ₹ Bank 20,000 Bank 20,000 Goodwill 1,80,000 Sundry Creditors 63,000 Capital 1,200 Furniture 13,000 Liabilities for Expenses 1,000 Plant and...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...