1. The following are the balances extracted from the books of Raghunath Ji as on 31st March, 2023. From these balances, prepare his Trading and Profit & Loss Account and Balance Sheet as at that date:   Dr. (Rs.) Cr. (Rs.) Opening StockPurchases Sales DiscountSales Return BuildingsDebtorsSalariesOffice ExpensesWagesPurchase ReturnInterestTravelling ExpensesFire...

2. From the following Trial Balance prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date: Dr. (Rs.) Cr. (Rs.) Stock 1st April, 2022Purchases and Purchase ReturnFreehold PremisesIncidental Trade Exp. 22,3002,30,0001,00,00011,200 5,200 Dr. (Rs.) Cr. (Rs.) Insurance Audit FeesCommission...

3. On 31st March, 2023 the following Trial Balance was extracted from the books of Mohan: Dr. (Rs.) Cr. (Rs.) CapitalDrawingsDebtors and CreditorsBank LoanInterest on LoanCashProvision for Bad DebtsStock 1– Apr – 2022Motor VehiclesBank 5,00020,0003002,0006,80010,0003,500 30,00010,0009,500 700 Particulars Debit (Rs.) Credit (Rs.) Land and Buildings Bad-DebtsPurchases and Sales ReturnsCarriage OutwardCarriage...

4. Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date from the following Trial Balance: Dr. (Rs.) Cr. (Rs.) Capital Cash Bank Overdraft Purchases and Sales Returns Establishment Expenses Taxes and Insurance Bad-debts and Bad-debt Provision Debtors and...

5. From the following Trial Balance extracted from the books of A, prepare Trading and Profit & Loss Account for the year ending 31st March, 2023 and a Balance Sheet as at that date: Dr. (Rs.) Cr. (Rs.) FurnitureLoose ToolsBuildings 6,40062,50075,000 Particulars Debit (Rs.) Credit (Rs.) Capital AccountBad-debtsProvision for Bad-debtsSundry...

6. From the following figures prepare the Trading and Profit and Loss Account for the year ended 31st March, 2023 and the Balance Sheet as at that date: Particulars Rs. Particulars Rs. Stock (1st April, 2022)PurchasesSalesMotor CarCar ExpensesRentSalariesBad DebtsProvision for bad debts 75,000 8,00,00012,00,0001,50,00042,0005,50035,2001,5008,100 Sundry DebtorsLoan from XInterest on X...

7. Extract of a Trial Balance as at March 31, 2017 is as follows: Rs. Sundry Debtors   1,02,000 Bad Debts       1,400 Provision for doubtful debts       3,400 Additional information: A debtor of Rs. 2,000 could not be recovered. It is decided to maintain Provision...

8. Prepare a Trading and Profit & Loss account for the year ending March 31st, 2023, from the balances extracted of M/s Rahul Sons. Also prepare a balance sheet as at that date. Debit Balances Rs. Credit Balances Rs. Opening StockWagesSalaryPurchasesSales ReturnS. DebtorsDiscount allowedInsuranceRent, rates and taxesFixtures and fittingsTrade ExpensesBad...

9. From the following balances, prepare Trading and Profit and Loss A/c for the year ended 31st March 2023 and a Balance Sheet as at that date: Particulars Rs. Particulars Rs. Life Insurance Premium (self)Opening StockReturns InwardFurnitureFreehold PropertyCarriage InwardsAdvertisingSundry CreditorsReturns outwardsCommission (Cr.)LightingLoan from bankWages & Salaries 5007,5001,0004,60010,0004002004,8505006002505,0007,500 CapitalPlant and MachineryPurchasesSundry...

10. (A) From the following balances, prepare Trading, Profit and Loss A/c and a Balance Sheet as at  31st March 2023: Particulars Rs. Particulars Rs. Opening StockPurchasesFuel and PowerCapitalSalesRentReturns InwardsCash Discount allowedCash Discount receivedDrawings 20,0002,92,00034,0001,60,0005,90,00010,00016,00015,00019,00058,100 GoodwillFurniture and FittingsRepair ChargesBankSalariesGeneral ExpensesDebtorsCreditorsOutput CGSTOutput SGST 16,00058,0002,90018,0001,10,00018,0002,30,0001,35,0005,0005,000 Particulars Rs. Particulars Rs. Input CGSTInput SGST...

11. Give journal entries for the following adjustments in final accounts: (i) Salaries Rs. 5,000 are outstanding. (ii) Insurance amounting to Rs. 2,000 is paid in advance. (iii) Rs. 4,000 for rent have been received in advance. (iv) Commission earned but not received Rs. 1,000. (v) Interest on capital Rs....

12. Give Journal Entries for the following adjustments in final accounts: Extract of Trial Balance as on 31st March, 2023: Particulars Debit(Rs.) Credit(Rs.) Sundry DebtorsBad DebtsProvision for doubtful debts 6,60,00015,000 40,000 Additional Information: (a) Additional Bad Debts Rs. 20,000. (b) Maintain the provision for doubtful debts @ 5% on debtors....

13. Give journal entries for the following adjustments in final accounts assuming CGST and SGST @ 9% each Closing Stock Rs. 80,000 (Market value Rs. 1,00,000). Outstanding salaries Rs. 21,000.  Insurance premium amounting to Rs. 10,000 is paid in advance. Rs. 6,000 received for rent related to the next accounting...

14. Following is the Trial Balance of Mr. Gautam as at 31st March, 2023: Dr. Balances Rs. Cr. Balances Rs. GoodwillLand & BuildingsPlant & MachineryLoose ToolsBills ReceivableOpening StockPurchasesWagesCarriage InwardsCoal & GasSalariesRentDiscount allowedCash at BankCash in handSundry DebtorsRepairsPrinting & Stationery 30,000 60,000 40,000 3,0002,00040,00051,00020,0001,2005,6004,000 2,7001,50025,0001,40045,0001,800600 Purchase ReturnsCapital A/cBills PayableSundry CreditorsSales 2,6502,03,50013,80030,0001,15,000...

15. From the following Trial Balance, extracted from the books of Raga Ltd., prepare a Trading and Profit and Loss Account for the year ended 31st March, 2023 and a Balance Sheet as at that date: Dr. Balances Rs. Cr. Balances Rs. Drawings AccountLand & BuildingPlant and MachineryCarriage InwardWagesSalarySales ReturnBank...

16. (A) On 31st March, 2023 the following Trial Balance was extracted from the books of Sh.  Ghanshyam Das: Dr. (Rs.) Cr. (Rs.) Capital AccountDebtors and CreditorsLoan on MortgageInterest on LoanDiscountStock on 1st April, 2022Motor VehicleCash at BankInvestment 40,000 2,25020,00050,0004,45016,000 2,00,00025,00030,0001,800 Dr. (Rs.) Cr. (Rs.) WagesLand and BuildingBad-DebtsPurchases and SalesPurchases...

17. From the following Trial Balance of Mr. Alok, prepare Trading and Profit & Loss Account for the year ending 31st March, 2023, and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. DrawingsBills ReceivableMachineryDebtors (including X for dishonoured Bill of Rs. 1,000)WagesReturns InwardPurchasesRentStock (01-04-2022)SalariesTravelling ExpensesInsuranceCashRepairsInterest on...

18. Extracts of Trial Balance as at 31st March 2023: Dr. (Rs.) Cr. (Rs.) Sundry Debtors (including Dewan for dishonoured Bill of Rs. 20,000)Provision for Doubtful DebtsBad Debts 4,80,000 –10,000 –24,000– Adjustments: The following adjustments are to be made: ¾ th of Dewan’s bill is irrevocable. Create a provision of...

19. From the following Trial Balance extracted from the books of Sh. Pawan Kumar, prepare a Trading  Account, Profit & Loss Account for the year ended 31st March, 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. DrawingsPlant and MachineryHorses and CartsDebtorsPurchasesWagesCash at BankSalariesRepairsStock...

20. From the following Trial Balance of Geeta, you are required to prepare: (i) Trading and Profit and Loss Account for the year ended on 31st March, 2019, and (ii) Balance Sheet as at that date. Debit Balances Rs. Credit Balances Rs. Stock on 01.04.2018Plant and Machinery RentDepreciation on Plant...

21. The following Trial Balance has been extracted from the books of Shri Santosh Kumar as at 31st March, 2023: Dr. (Rs.) Cr. (Rs.) Plant and MachineryFurnitureCapital AccountHousehold ExpensesSalesLoose ToolsGoodwillOpening Stock (1-4-2022)Returns OutwardDiscountPurchasesReturns Inwards 1,00,00012,00016,00020,00010,00020,000 2,12,0008,000 1,91,0004,68,000 4,0006,000 Particulars Debit (Rs.) Credit (Rs.) WagesSalariesOutstanding SalariesInvestments at 10% p.a.Interest on InvestmentsSundry CreditorsMiscellaneous...

22. From the following Trial Balance of Sh. Swamy Narain, prepare Trading and Profit & Loss Account for the year ended 31st March 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Opening StockPurchasesGeneral ExpensesStationeryWagesTrade ChargesRentCharityAdvertisement Expenses 50,0005,30,00045,0006,0002,15,00025,00044,0005,00030,000 CapitalSalesSundry CreditorsTrade Charges due but not paidOutstanding...

23. Following is the Trial Balance as on 31st March 2016. Prepare Trading and Profit and Loss Account and Balance Sheet: Particulars Debit(Rs.) Credit(Rs.) Stock (1st April 2015)SalesPurchasesProductive WagesSalariesStores ConsumedCarriageRent and RatesInsuranceMachineryBuildingCapital less DrawingsSundry DebtorsSundry Creditors 8,0001,26,00056,50016,0006,0503,0505,2001,32052,00067,00044,000 2,20,000 1,45,60020,000 Particulars Debit (Rs.) Credit (Rs.) Secured LoanFurnitureGeneral Expenses Cash in handBad DebtsBank...

24. From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March 2016 and Balance Sheet as at that date. Head of Accounts Debit (Rs.) Credit (Rs.) Sundry DebtorsStock (1st April 2015)Cash in hand Cash at bankPlant and MachinerySundry CreditorsTrade...

25. Following are balances from the trial balance of Ritesh Traders as at 31st March 2023: Particulars Rs. Particulars Rs. Opening StockPurchasesSalesWagesCarriage InwardFreight on PurchaseSalariesInsuranceRepair to Machinery 5,6201,54,2003,74,8001,26,0009004,9008,0002,8001,400 Interest on SecuritiesLand and BuildingSecuritiesCash in HandBank OverdraftDiscount AllowedDiscount ReceivedBills PayableLoan (Cr.) 6,40010,00,0006,00,00025,6003,40,0001,5004204,00011,000 Prepare Trading and Profit & Loss Account for the...

26. Prepare Trading and Profit and Loss Account and Balance Sheet from the following Trial Balance and information as on 31st March, 2023: Name of Account Dr. (Rs.) Cr. (Rs.) Drawings and CapitalPlant and MachineryMotor VehicleReturn Inward and OutwardStock on 1st April, 2022Purchases and SalesCarriage Inward Trade ExpensesBad DebtsProvision for...

27. Following balances were taken from the books of Shri R. Lal as at 31st March, 2023: Particulars Rs. Particulars Rs. CapitalDrawingPurchasesSalesPurchase ReturnsStock on 1.4.2022Bad DebtsBad Debts Provision on 1.4.2022Rates & Insurance 1,00,00017,60080,0001,40,3702,82011,4601,4003,2401,300 Rent (Cr.)Railway Freight on salesCarriage InwardsOffice ExpensesPrinting & StationeryPostageSundry DebtorsSundry CreditorsCash at Bank 2,10016,9402,3101,34066082062,07018,92012,400 Prepare Trading and...

28. From the following balances extracted from the books of Karan and the additional information, prepare the trading and profit and loss account for the year ended 31st March, 2023 and also show the balance sheet as at that date: Debit Balance(Rs. ‘000) Credit Balance(Rs.‘000) Stock on 1st April, 2022Purchases...

29. The following is the trial balance of Mr. Amar Chand as at 31st March, 2023: Dr. (Rs.) Cr. (Rs.) Stock on 1st April, 2022Purchases and SalesReturnsSundry Debtors and Creditors 62,0003,15,0003,70080,000 4,48,0002,50043,000 Dr. (Rs.) Cr. (Rs.) Bills Receivable and PayableDrawings and CapitalCash in HandBalance with Bank of TokyoDiscountCarriage on PurchasesCarriage...

30. From the following balances extracted from the books of Sharma, prepare the Trading and Profit & Loss Account for the year ended 31st March 2023 and Balance Sheet as at that date after taking into consideration the adjustments given below: TRIAL BALANCE  as at 31st March, 2023 Particulars Dr....

31. Prepare a trading and profit & loss account of M/s Green Club Ltd. for the year and a Balance Sheet as at that date from the following figures taken from their trial balance: 3,71,900 3,71,900 Opening StockPurchasesReturn inwardPostageSalaryWagesRent and ratesPacking and transportGeneral expensesInsuranceDebtorsCash in handClosing StockMachineryLightingDiscount 1,25,00035,00025,00060012,3003,0001,0005004004,00050,00020,00040,00020,0005,0003,500 SalesPurchase ReturnCreditorsCapitalDiscount...

32. Below is given the Trial Balance of Mr. Ram as at 31st December, 2022. You are required to prepare Trading and Profit & Loss Account and Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Opening StockPurchasesPlantSalary 42,0002,00,00060,00033,000 SalesSundry CreditorsPurchases ReturnCommission 4,10,00020,0008,0007,500 WagesDiscountRentFurniture (Including Furniture of...

33. On 31st March, 2023 the following Trial Balance of Sh. Ajay Oswal was taken out. Prepare Trading and Profit & Loss Account for the year and Balance Sheet at that date after making the following adjustments: 1. Stock on 31st March, 2023 was valued Rs. 26,000. General Manager is...

34. Prepare Trading and Profit & Loss Account and Balance Sheet as at 31st March, 2023, from the following balances: Particulars Rs. Particulars Rs. Capital A/cDrawings A/cBills ReceivablePlant & MachinerySundry DebtorsLoan A/c (Cr.) at 12% p.a. 5,00,00036,0005,8003,80,00058,00020,000 Stock on 1.4.2022Salaries & WagesOutstanding Salaries and WagesInsurance (including premium of Rs. 1,000...

35. From the following Trial Balance extracted from the books of Mr. Karuna Sagar, prepare a Trading and Profit & Loss A/c for the year ended 31st March, 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. PurchasesRent PaidWagesSalariesPowerStock on 1-4-2022Stock on 31-3-2023CharityDebtorsFurnitureMotor CarMotor...

36. From the following information prepare financial Statements of M/s Raj & Bros, for the year ending  March 31, 2020. Dr. Bal.(Rs.) Cr. Bal.(Rs.) Stock (1-4-2019)Sales ReturnsPurchasesFreight-inRent and TaxesSalariesTrade debtorsBank interestPrinting and Advertising 16,8008,0002,43,0008,6005,7009,30024,0001,00014,600 CapitalSalesReturns OutwardTrade Creditors10% Bank Loan (1-7-2019)Income from InvestmentDiscount Received 78,0003,09,0005,7004,80024,0003,6002,250 Cash at bankDiscount AllowedInvestmentFurnitureGeneral ExpensesAudit FeesInsuranceTravelling...

37. From the following Trial Balance of Sh. Parveen Kumar, prepare Trading and Profit & Loss Account for the year ending 31st March, 2023 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Stock at CommencementPurchasesReturns InwardSundry DebtorsCashManufacturing ExpensesTrade ExpensesCarriageSalaries and WagesPostageStationeryFreight InwardsLand and BuildingPatentsFurnitureInsurance...

38. The following Trial Balance was extracted from the books of Mr. Gupta as at 31st March, 2023: Debit Balances Rs. Credit Balances Rs. Stock on 1-4-2022PurchasesWagesTrade ExpensesFreight and Dock Charges 65,0007,10,00022,0005,0008,000 CapitalRent ReceivedLoan from Mr. Yadav @ 15% p.a.SalesDiscount 2,50,0003,90020,0009,50,000600 Debit Balances Rs. Credit Balances Rs. Travelling Expense Lighting...

39. From the following Trial Balance of Mr. Tarun Ghosh, prepare Trading and Profit and Loss A/c for the year ending 31st March, 2020 and a Balance Sheet as at that date: Debit Balances Rs. Credit Balances Rs. Opening StockPurchasesWages Factory OfficeSalaryBusiness PremisesFurniture and FixturesPacking MachineryToolsRentLoan to Mr. Ram Narain...

40. The following balances were extracted from the books of Mr. Din Dayal as at 31st March, 2023 Particulars Rs. Particulars Rs. Stock at the beginningRent 41,0009,600 PurchasesSale 2,20,0002,80,000 Particulars Rs. Particulars Rs. SalaryBad-DebtsProvision for Doubtful DebtsTravelling ExpensesInsurance PremiumProprietor’s WithdrawalsTelephone Charges Printing and AdvertisingCommission (Cr.)Rent from SubletLand and BuildingFurnitureCash 20,0004003,0001,4001,8004,0007,3005,0006,0004,8001,40,00010,0002,900...