3. On 31st March, 2023 the following Trial Balance was extracted from the books of Mohan:
| Dr. (Rs.) | Cr. (Rs.) | |
|---|---|---|
| Capital Drawings Debtors and Creditors Bank Loan Interest on Loan Cash Provision for Bad Debts Stock 1– Apr - 2022 Motor Vehicles Bank |
5,000 20,000 300 2,000 6,800 10,000 3,500 |
30,000 10,000 9,500 700 |
| Particulars | Debit (Rs.) | Credit (Rs.) |
| Land and Buildings Bad-Debts Purchases and Sales Returns Carriage Outward Carriage Inward Salaries Rent and Insurance Advertising Discount General Expenses B/R and B/P Rent received |
12,000 500 66,000 8,000 2,500 3,000 9,000 3,000 3,500 3,400 6,000 |
1,10,000 1,500 500 2,000 300 |
| 1,64,500 | 1,64,500 |
Prepare Trading and Profit & Loss Account for the year ended 31st March, 2023 and Balance Sheet as at that date after taking into account the following: –
- Private purchases amounting to Rs. 4,000 have been debited to Purchases Account.
- Depreciate Land and Buildings at 2 ½ % and Motor Vehicles at 20%.
- Salaries outstanding Rs. 200
- Prepaid Insurance Rs. 200
- Provision for Doubtful Debts is to be maintained at 5% on Debtors.
- Stock on 31st March, 2023 was valued at Rs. 7,000.
D.K.Goel/2024 Edition/Practical Questions/Q-03
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :