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) Purchases Sales Motor Car Car Expenses Rent Salaries Bad Debts Provision for bad debts |
75,000 8,00,000 12,00,000 1,50,000 42,000 5,500 35,200 1,500 8,100 |
Sundry Debtors Loan from X Interest on X Loan Furniture Land and Building Capital Sundry Creditors Returns Inward Returns Outward |
82,000 10,000 1,500 20,000 2,00,000 2,50,000 91,300 7,500 6,000 |
|
| Particulars | Rs. | Particulars | Rs. | |
| Commission (Cr.) Wages Insurance |
4,600 1,25,000 8,400 |
Cash in hand | 16,400 | |
Adjustments:
- Commission include Rs. 1,600 being commission received in advance.
- Write off Rs. 2,000 as further Bad-debts and maintain Bad-debts provision at 5% on debtors.
- Expenses paid in advance are: Wages Rs. 5,000 and Insurance Rs. 1,200.
- Rent and Salaries have been paid for 11 months.
- Loan from X has been taken at 18% p.a. interest.
- Depreciate furniture by 15% p.a. and Motor Car by 20% p.a.
- Closing Stock was valued at Rs. 60,000.
D.K.Goel/2024 Edition/Practical Questions/Q-06
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :