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 Machinery Furniture Capital Account Household Expenses Sales Loose Tools Goodwill Opening Stock (1-4-2022) Returns Outward Discount Purchases Returns Inwards |
1,00,000 12,000 16,000 20,000 10,000 20,000 2,12,000 8,000 |
1,91,000 4,68,000 4,000 6,000 |
| Particulars | Debit (Rs.) |
Credit (Rs.) |
| Wages Salaries Outstanding Salaries Investments at 10% p.a. Interest on Investments Sundry Creditors Miscellaneous Receipts Carriage Inwards General Expenses and Insurance Advertisement Expenses Postage Sundry Debtors B. Barua Cash Balance Bank Suspense Account |
1,00,000 60,000 6,000 12,000 39,000 15,000 4,000 56,000 2,000 14,000 |
5,000 300 24,000 2,000 3,200 2,500 |
| 7,06,000 | 7,06,000 |
The following additional information is available:
- Stock on 31st March, 2023 was Rs. 30,800.
- Depreciation is to be charged on Plant and Machinery at 5% and Furniture at 6%. Loose Tools are revalued at Rs. 16,000.
- Create a provision of 2% for Discount on Debtors.
- Salary of Rs. 2,000 paid to Shri B. Barua, a temporary employee, stands debited to his personal account and it is to be corrected.
- Write off 1/5th of advertisement expenses.
You are to prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and a Balance Sheet as at that date.
D.K.Goel/2024 Edition/Practical Questions/Q-21
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :