27. Following balances were taken from the books of Shri R. Lal as at 31st March, 2023:
| Particulars | Rs. | Particulars | Rs. |
|---|---|---|---|
| Capital Drawing Purchases Sales Purchase Returns Stock on 1.4.2022 Bad Debts Bad Debts Provision on 1.4.2022 Rates & Insurance |
1,00,000 17,600 80,000 1,40,370 2,820 11,460 1,400 3,240 1,300 |
Rent (Cr.) Railway Freight on sales Carriage Inwards Office Expenses Printing & Stationery Postage Sundry Debtors Sundry Creditors Cash at Bank |
2,100 16,940 2,310 1,340 660 820 62,070 18,920 12,400 |
Prepare Trading and Profit & Loss A/c and a Balance Sheet as at 31st March, 2023, after keeping in view the following adjustments:
- Depreciate old Building at 2 ½ % and addition to Building at 2% and Office Furniture at 5%.
- Write off further Bad-debts Rs. 570.
- Increase the Bad-debts Provision to 6% of Debtors.
- On 31st March, 2023, Rs. 570 are outstanding for salary.
- Rent receivable Rs. 200 on 31st March, 2023.
- Interest on capital at 5% to be charged.
- Unexpired Insurance Rs. 240.
- Stock was valued at Rs. 14,290 on 31st March, 2023.
D.K.Goel/2024 Edition/Practical Questions/Q-27
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :