6. Prepare the trading and profit and loss account and a balance sheet of M/s Shine Ltd. from the following particulars.

Account Title Amount ₹ Account Title Amount ₹
Sundry debtors 1,00,000 Bills payable 85,550
Bad debts 3,000 Sundry creditors 25,000
Trade expense s 2,500 Provision for bad debts 1,500
Printing and Stationary 5,000 Return outward s 4,500
Rent, Rates and Taxes 3,450 Capital 2,50,000
Freight 2,250 Discount received 3,500
Sales return 6,000 Interest received 11,260
Motor car 25,000 Sales 1,00,000
Opening stock 75,550
Furniture and Fixture 15,500
Purchases 75,000
Drawings 13,560
Investments 65,500
Cash in hand 36,000
Cash in bank 53,000
Total 4,81,310 Total 4,81,310

Adjustments

  1. Closing stock was valued ₹35,000.    
  2. Depreciation charged on furniture and fixture @ 5%.   
  3. Further bad debts ₹ 1,000.  Make a provision for bad debts @ 5% on sundry debtors. 
  4. Depreciation charged on motor car @ 10%. 
  5. Interest on drawing @ 6%.
  6. Rent, rates and taxes was outstanding ₹200 .
  7. Discount on debtors 2%.

NCERT/Rationalised 2023-24/Numerical Questions/Q-06

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