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 Stock Purchases Sales Discount Sales Return Buildings Debtors Salaries Office Expenses Wages Purchase Return Interest Travelling Expenses Fire Insurance Premium Machinery Carriage on Purchases Commission |
12,000 40,000 6,000 50,000 16,000 2,400 1,200 10,000 400 800 20,000 700 400 |
86,000 400 4,000 800 |
| Dr. (Rs.) | Cr. (Rs.) | |
| Cash in Hand Rent and Taxes Capital Creditors |
2,300 1,800 |
62,000 10,800 |
| 1,64,000 | 1,64,000 |
Adjustments:
- Closing Stock was valued at Rs. 16,000.
- Wages Rs. 2,000 and salaries Rs. 1,200 are outstanding.
- Rent for two months at the rate of Rs. 500 per month is outstanding.
- Depreciate Buildings by 5% and machinery by 10%.
- Prepaid Insurance Rs. 200
D.K.Goel/2024 Edition/Practical Questions/Q-01
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :