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
- Closing stock was valued ₹35,000.
- Depreciation charged on furniture and fixture @ 5%.
- Further bad debts ₹ 1,000. Make a provision for bad debts @ 5% on sundry debtors.
- Depreciation charged on motor car @ 10%.
- Interest on drawing @ 6%.
- Rent, rates and taxes was outstanding ₹200 .
- Discount on debtors 2%.
NCERT/Rationalised 2023-24/Numerical Questions/Q-06